Cabela's Mastercard Application

[Anonymous]

I am a big gun person and one of the only places selling cheap ammo is Cabela's.

They have a 5 box limit each day for normal people but 8 box for card holders.

I shoot a lot and the only way to buy ammo is to be there very early before opening so the card would be well worth it to me to snag a few extra everytime I go.

Needless to say, I want to apply for their card.

I had put some big purchases on my three cards AMEX blue cash preferred ($2k limit), Discover IT ($1.5k limit), and Chase freedom ($1.5k limit) which was around 50% usage at the time. 

I no longer have that usage but assume I have to wait for around a month for my score to update.

I have a 664 TU and 661 Equifax currently (~40+ lower than it was before my high utilization).

I tried the "pre qualify" thing through capital one and it said the reason I didn't have any offered was because of too many recent cards. I applied for my Discover card in August of last year, my Chase in October and my AMEX in December and those are my only pulls on record and there's no other negative things on my account.

Do you think it would be worth a shot to apply for the Cabela's Card once my scores go up? It's "through" capital one, but are store card's rules usually different? Or should I wait even longer for the "too many new cards" message from the pre approval thing to go away or are store cards different with that?

Thanks so much!

[Hex]

I wish you success with your pursuit of credit. I won't comment on everything I don't like about your post because of the terms of service here.

[JB2]

I don't know for sure if you would have a good shot at getting that card or not, I used to have that card before it went to Capital One and they closed it due to lack of use.  Cabelas is about 40 miles away for me, I love that store but just don't go as often as I would like to.

[coldfusion]

The Cabelas card is a bit odd because Capital One acquired the portfolio by buying the dedicated credit card business unit from Cabelas but it was not really a true store card as it was previously issued as a Visa and then converted over to a Mastercard. 

Besides the 2% value in points back on Cabelas/Bass Pro purchases there are also sporadic promos extended like 2X or 3X points or serialized (i.e. unique to each cardholder) discount coupons like $10 off a $50 purchase as well as the 9.99% APR on Bass Pro/Cabelas purchases.  For some people the card could be worth it. 

As for what it takes to be approved,  IMO odds of a decent approval would be better if FICO scores were at least in the 690 range, 660ish is probably a bit low. 

[Anonymous]

Ah gotcha! My fico score will go back to a 715-720 when I get my credit utilization back to low percentage. The Capital one "pre approval" thing for a few of their other cards said I wasn't pre approved because I had too many recent cards.

Could that negatively impact my application or would it not really matter?

Thanks so much!!

[coldfusion]

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@Anonymous wrote:

Ah gotcha! My fico score will go back to a 715-720 when I get my credit utilization back to low percentage. The Capital one "pre approval" thing for a few of their other cards said I wasn't pre approved because I had too many recent cards.

Could that negatively impact my application or would it not really matter?

Thanks so much!!

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Yes it would matter.    

[Anonymous]

Ok! So your advice would be that I just wait for a bit?

[coldfusion]

Yes. I would suggest you wait 2-3 months and then see if you can get a preapproval on any Capital One core cards.  

If you get a preapproval go ahead and apply for the Cabelas card, it wouldn't be a sure thing but your odds would be better.

[woodyman100]

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@Hex wrote:

I wish you success with your pursuit of credit. I won't comment on everything I don't like about your post because of the terms of service here.

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You just did

[Anonymous]

You may not get preapproved  for any Capital One credit cards through the pre-approval on their website but that's only for a few select cards anyways, it's not screening you for Cabela's. Store cards ARE different. Usually less strict underwriting/easier to obtain. I would wait a few months though and get my ULT in check then apply for it.

Also I want you to know I do support you in your quest and think you would benefit from getting the card although for me in AZ we're Bass Pro. Just don't go into debt on that quest. It will return to shelves at somepoint and that's when you stock it deep, consider it just like a monthly subscription like Netflix and you'll be fine lol. (I do hope my message abides by the terms and conditions.)