topic Re: Outdoorsy peeps in Credit Cards

Outdoorsy peeps

Howaboutthat — Wed, 14 Oct 2020 23:02:16 GMT

Why no love for the Cabela's card, I think 9.99% is great for items bearing their Brand. I don't see much about it here.

Regular rates start as 15.99%

not much as far a rewards go.

Re: Outdoorsy peeps

Anonymous — Wed, 14 Oct 2020 23:27:21 GMT

@Howaboutthat wrote:
Why no love for the Cabela's card, I think 9.99% is great for items bearing their Brand. I don't see much about it here.

Regular rates start as 15.99%
not much as far a rewards go.

2% back at Cabela's, 1% back on restaurants, groceries, and gas. I feel it is not popular because the rewards are terrible. If you pay in full, the APR is irrelevant so the 9.99% really isn't a factor that I would consider before applying.

Re: Outdoorsy peeps

blindambition — Wed, 14 Oct 2020 23:57:36 GMT

Unless you're an avid Cabbala's shopper, card rewards have nothing enticing. Certainly not for a Cap One 3 HP.

Re: Outdoorsy peeps

dragontears — Thu, 15 Oct 2020 00:05:05 GMT

@Anonymous wrote:
@Howaboutthat wrote:
Why no love for the Cabela's card, I think 9.99% is great for items bearing their Brand. I don't see much about it here.

Regular rates start as 15.99%
not much as far a rewards go.
2% back at Cabela's, 1% back on restaurants, groceries, and gas. I feel it is not popular because the rewards are terrible. If you pay in full, the APR is irrelevant so the 9.99% really isn't a factor that I would consider before applying.

+100

Any 2% card beats it, heck 1.5% cards beat it unless you spend a ton in store

Re: Outdoorsy peeps

Howaboutthat — Thu, 15 Oct 2020 06:59:43 GMT

It's been said that roughly only 20% of all cardholders pay in full every month. ( I got that directly from this site) so 9.99% is a good on Cabelas branded products for the rest of us. Most card holders carry a balance if that article is true. I'm not speaking about the 2% rewards.

Re: Outdoorsy peeps

Howaboutthat — Thu, 15 Oct 2020 07:07:54 GMT

@blindambition wrote:
Unless you're an avid Cabbala's shopper, card rewards have nothing enticing. Certainly not for a Cap One 3 HP.
I do like Cabela's branded product, my card converted to Capital One

Re: Outdoorsy peeps

wasCB14 — Thu, 15 Oct 2020 07:46:33 GMT

I used to love using Citi cards at REI.

Shop in person, get great assistance, pay full retail at checkout...then find the stuff online for maybe 30% less and submit price rewind claims.

Re: Outdoorsy peeps

Credit12Fico — Thu, 15 Oct 2020 09:13:24 GMT

@wasCB14 wrote:
I used to love using Citi cards at REI.

Shop in person, get great assistance, pay full retail at checkout...then find the stuff online for maybe 30% less and submit price rewind claims.

and this is why we couldn't have nice things lol.

Re: Outdoorsy peeps

Loquat — Thu, 15 Oct 2020 11:39:58 GMT

My Cabela's gets little to no use at all. Really only hang on to it because I've had it so long. I got the card when it was still being issued by World’s Foremost Bank. They were another one who wanted to do an HP for an increase.

I asked for an increase once after it was sold to CapOne and still game up with nothing. Now it sits and gets an occasional swipe for activity.

Re: Outdoorsy peeps

AverageJoesCredit — Thu, 15 Oct 2020 12:00:57 GMT

@Howaboutthat wrote:
It's been said that roughly only 20% of all cardholders pay in full every month. ( I got that directly from this site) so 9.99% is a good on Cabelas branded products for the rest of us. Most card holders carry a balance if that article is true. I'm not speaking about the 2% rewards.

Bring up a credit card on myFico, mention the apr then ask why its not popular you are bound to get its rewards value mentioned and compared. Most people here want cc for its value to their spend not just to have. Im a hybrid

Re: Outdoorsy peeps

coldfusion — Thu, 15 Oct 2020 16:22:08 GMT

@AverageJoesCredit wrote:
@Howaboutthat wrote:
It's been said that roughly only 20% of all cardholders pay in full every month. ( I got that directly from this site) so 9.99% is a good on Cabelas branded products for the rest of us. Most card holders carry a balance if that article is true. I'm not speaking about the 2% rewards.
Bring up a credit card on myFico, mention the apr then ask why its not popular you are bound to get its rewards value mentioned and compared. Most people here want cc for its value to their spend not just to have. Im a hybrid

The articles I see claim that the percentage of cardholders who routinely PIF is just about 50% although that figure could be specific to rewards cards

Re: Outdoorsy peeps

Aim_High — Thu, 15 Oct 2020 17:54:37 GMT

It's not a bad card, @Howaboutthat, but looks like the appeal is very much a niche market. I would guess that the lack of discussion depends on who shops often enough at Cabela's to get that card as well as who doesn't have better options already in their wallet.

I think part of the lack of appeal is that it's most useful for Cabela's purchases where it gets that 2% and has the lowest APR. Also it pays for credits on Cabela's Club Points, not in cash-back, and that is disappointing to many who want control over where they spend rewards. That was one argument against the recent new Verizon card that pays in Verizon dollars. I used to have a Dillard's department store co-branded AMEX credit card that worked the same way. There are other examples, but that is a common strategy used by lenders in store-branded or co-branded cards.

The 9.99% APR is decent but moreso if you're comparing that rate to the large bank card rates. Credit unions can often beat that depending on an applicant's credit score. And as you said, the 9.99% only applies for store purchases. Out of store purchases are either 15.24%, 18.24%, or 24.24%. Meanwhile, my PenFed Power Cash Rewards pays 2% rewards (at Cabelas and everywhere else) and has an APR of 9.99% on all purchases. And my AOD FCU Visa Signature pays 3% rewards (at Cabela's and everywhere else) and has an APR of 7.49% on all purchases. And I have a local credit union card that pays 1% on everything (but not the extra 1% at Cabela's.) However, it has an even-lower APR of 8.50%. I've occassionally seen some of our members attest to their sub-10% APRs even with the large lenders. This post from @JR_TX showed an impressive permanent 6.99% APR on his Discover card, which would earn 1% at Cabela's also.

https://ficoforums.myfico.com/t5/Credit-Cards/Lowest-Discover-APR-you-all-have/m-p/6160913#M1749968

A quick websearch finds websites listing all the store-branded cards that Synchrony and Comenity Banks issue, somewhere in the range of 116 and 163 cards respectively. If you look up the lists, most of them don't get a lot of discussion here. I'm even familiar with a lot of the retailers but apparently all those cards have a narrow appeal.

All that said, if you shop a lot at Cabela's and it's a more attractive card than what you currently carry, by all means go for it! Tell us about how you like it. We're all about improving our own individual credit options and credit files as well as sharing information about the journey. Thanks for bringing up the Cabela's card for discussion.

Re: Outdoorsy peeps

coreysw12 — Thu, 15 Oct 2020 17:43:30 GMT

REI card is a much better "outdoor sporting goods" card in my opinion.

5% back on REI purchases
1% everything else (2% for mobile wallet purchases)
cell phone protection
no AF, no FTF

Only downside is that REI doesn't sell hunting or fishing gear.

Re: Outdoorsy peeps

Howaboutthat — Thu, 15 Oct 2020 17:43:47 GMT

Thanks to all for the great and thorough answers.

Re: Outdoorsy peeps

coldfusion — Thu, 15 Oct 2020 18:58:25 GMT

@coreysw12 wrote:
REI card is a much better "outdoor sporting goods" card in my opinion.

5% back on REI purchases
1% everything else (2% for mobile wallet purchases)
cell phone protection
no AF, no FTF
Only downside is that REI doesn't sell hunting or fishing gear.

IME about the only popular outdoor recreational activity where there is some significant overlap between REI and Cabela's is camping/hiking and to a lesser extent kayaking.

Re: Outdoorsy peeps

Anonymous — Fri, 16 Oct 2020 00:47:28 GMT

Just from a rewards perspective, the Ducks Unlimited card offered 5% on sporting goods. They recently changed the rewards structure to new applicants but the people who were grandfathered in still get 5%.

Re: Outdoorsy peeps

notmyrealname23 — Fri, 16 Oct 2020 02:06:20 GMT

@Howaboutthat wrote:
It's been said that roughly only 20% of all cardholders pay in full every month. ( I got that directly from this site) so 9.99% is a good on Cabelas branded products for the rest of us. Most card holders carry a balance if that article is true. I'm not speaking about the 2% rewards.

I can't imagine a scenario where I am financing things I am buying at Cabela's, and JUST Cabela's (I have an Amazon Store Card where I can do 6/12 month financing for purchases over $500/1000- most anything that would cost big $$$ at an outdoor store can be bought on Amazon). The APR outside of Cabela's is nothing special.

Re: Outdoorsy peeps

amkari — Fri, 16 Oct 2020 10:34:24 GMT

I like my Cabelas card BUT they only gave me a $300 limit so it gets very little usage.

I have better rewards elsewhere so Cabelas really only sees use when they offer extra point value for certain items... if they're giving me 20% more points on something I want, then it goes on Cabelas. Lol

Re: Outdoorsy peeps

coreysw12 — Fri, 16 Oct 2020 17:52:06 GMT

@Anonymous wrote:
Just from a rewards perspective, the Ducks Unlimited card offered 5% on sporting goods. They recently changed the rewards structure to new applicants but the people who were grandfathered in still get 5%.

Ya, I'm bummed they nerfed that card for new applicants. It used to be at the very top of my wish list. 5% back at cabelas, REI, and every other sporting goods store, PLUS 5% cack at gas stations! With no AF. That card was unbeatable. I envy those who got grandfathered!

I really could've used that card this year... with COVID trapping me indoors for so long, and making me daydream about outdoor adventures, I spent probably 5 or 6 grand on new sporting goods.

Re: Outdoorsy peeps

wasCB14 — Fri, 16 Oct 2020 19:05:04 GMT

@coreysw12 wrote:
@Anonymous wrote:
Just from a rewards perspective, the Ducks Unlimited card offered 5% on sporting goods. They recently changed the rewards structure to new applicants but the people who were grandfathered in still get 5%.
Ya, I'm bummed they nerfed that card for new applicants. It used to be at the very top of my wish list. 5% back at cabelas, REI, and every other sporting goods store, PLUS 5% cack at gas stations! With no AF. That card was unbeatable. I envy those who got grandfathered!

I really could've used that card this year... with COVID trapping me indoors for so long, and making me daydream about outdoor adventures, I spent probably 5 or 6 grand on new sporting goods.

I recently got a Peloton bike and used my Costco card. A boring 1% cash back and no 0% promo...but the sort of purchase on which a two-year extended warranty could come in handy.