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Cabelas selling credit card division

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Bowzer
Frequent Contributor

Re: Cabelas selling credit card division

Looks like Bass Pro is closing in on a deal soon. I'm sure it will include BofA to take over the finance arm of the business. 

 

http://www.journal-news.com/news/news/local/bass-pro-shops-in-bid-to-buy-cabelas/nq9Sb/

 

 

Message 31 of 39
Royalbacon
Frequent Contributor

Re: Cabelas selling credit card division

http://journalstar.com/business/local/report-buyer-lined-up-for-cabela-s-credit-card-operation/artic...

 

Sounds like there is a buyer lined up for their credit card contingent on the sale of the retail part of the business.

 

Is it just me or does it sound like it's going to be Bank of America?

 

According to the Post, the deal is contingent on the sale of the retail part of the business and would be formalized at the same time such a deal is struck.The newspaper said the team of Goldman Sachs Capital Partners and Bass Pro Shops remains the favorite to buy the company, which has a market value of about $3.3 billion.

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Closed Capital One Venture One $3000 Limit (Opened December 2020, Closed by me September 2022 since I wanted the SavorOne and couldn't product change to it)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Capital One SavorOne $5000 Limit (Opened September 2022)
Sam's Club Mastercard Synchrony Bank $2500 Limit (Opened March 30 2023) (Burned Synchrony in my CH7 BK, One card with a $745 balance)
Idaho Central Credit Union ICCU Visa $10,000 Limit (Opened April 2023)
Message 32 of 39
Bowzer
Frequent Contributor

Re: Cabelas selling credit card division

BofA hAs limited exposure in the retail card business. This would be a good catch for there portfolio. Wouldn't surprise me one sec if it's not in the bag for them already IMO . In the sale of busines, I read where all bids need to be turned in by the end of the month. We anxiously wait
Message 33 of 39
Royalbacon
Frequent Contributor

Re: Cabelas selling credit card division

Thats what  I am thinking too. It mentions it won't be finalized until the sale of Cabela's itself is finalized, so I basically interpreted that most likely BOFA has a deal in place to buy their credit card business barring Bass Pro's deal to buy Cabela's successfully goes through. I think thats the most likely scenario (but again thats just my guess, could be wrong)

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Closed Capital One Venture One $3000 Limit (Opened December 2020, Closed by me September 2022 since I wanted the SavorOne and couldn't product change to it)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Capital One SavorOne $5000 Limit (Opened September 2022)
Sam's Club Mastercard Synchrony Bank $2500 Limit (Opened March 30 2023) (Burned Synchrony in my CH7 BK, One card with a $745 balance)
Idaho Central Credit Union ICCU Visa $10,000 Limit (Opened April 2023)
Message 34 of 39
RonM21
Valued Contributor

Re: Cabelas selling credit card division

It does sound like BoA has their hands on this potentially


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 35 of 39
Anonymous
Not applicable

Re: Cabelas selling credit card division

Please let it be BofA. 

Message 36 of 39
Anonymous
Not applicable

Re: Cabelas selling credit card division

Just asking for knowledge and curiosity but why do some want BoA? I understand most don't want Comenity (I understand why), but what about Citi or someone else?

 

Here's a wild and crazy thought, if it's not Bass who buys them but some investment firm, how about Amex, after losing Costco and JetBlue they could use it. Yes, I know, but I did say it was a wild and crazy idea.

Message 37 of 39
Royalbacon
Frequent Contributor

Re: Cabelas selling credit card division

Soundling more and more like Bass Pro has this in the bag. If this article is to be believed, other potential buyers dropped out.

 

http://nypost.com/2016/07/14/cabelas-nears-sale-to-goldman-sachs-and-bass-pro-shops/

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Closed Capital One Venture One $3000 Limit (Opened December 2020, Closed by me September 2022 since I wanted the SavorOne and couldn't product change to it)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Capital One SavorOne $5000 Limit (Opened September 2022)
Sam's Club Mastercard Synchrony Bank $2500 Limit (Opened March 30 2023) (Burned Synchrony in my CH7 BK, One card with a $745 balance)
Idaho Central Credit Union ICCU Visa $10,000 Limit (Opened April 2023)
Message 38 of 39
Creditplz
Valued Contributor

Re: Cabelas selling credit card division

I would like it to be BofA because I like the way they service my 3-2-1... Good interest rates, and they aren't Synchrony or Comenity Smiley Happy! But I'll gladly take Citi too.
Message 39 of 39
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