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Outdoorsy peeps

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Community Leader
Super Contributor

Re: Outdoorsy peeps


@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 hybridSmiley Wink


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



(10/2020)
FICO 8 (EX) 810 (TU) 805 (EQ) 794
FICO 9 (EX) 835 (TU) 822 (EQ) 828

$1M+ club

Artist formerly known as ColdFusion
Message 11 of 20
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Valued Contributor

Re: Outdoorsy peeps

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. Smiley Surprised   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.  Smiley Happy



Updated 10/08/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (Aug 2020)
Total Open Credit Lines Over $538K. Utilization Less Than 1%.
Inquiries until Nov 2020 (TU:3 -- EQ:4 -- EX:9)
New Accounts: 3/6 months; 8/12 months; 12/24 months (as of 10/15/20)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 12 of 20
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Established Contributor

Re: Outdoorsy peeps

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.

    Total Loan Balance: $61k / $104k

    Total SL: $41.2k
Goal cards:



United 1K - 675,000 lifetime flight miles    |    Chase 6/24
Message 13 of 20
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Contributor

Re: Outdoorsy peeps

Thanks to all for the great and thorough answers. 

Message 14 of 20
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Community Leader
Super Contributor

Re: Outdoorsy peeps


@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. 



(10/2020)
FICO 8 (EX) 810 (TU) 805 (EQ) 794
FICO 9 (EX) 835 (TU) 822 (EQ) 828

$1M+ club

Artist formerly known as ColdFusion
Message 15 of 20
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Community Leader
Valued Contributor

Re: Outdoorsy peeps

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%.

 FICO 8
Message 16 of 20
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Frequent Contributor

Re: Outdoorsy peeps


@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.

Fidelity VISA Signature 11.5k
Capital One VentureOne 11k
Amex Gold NPSL
Amex Green NPSL
PayPal Synchrony MC 6.4k
Petal2 VISA 6k
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AMEX Hilton Aspire 3.1k
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Apple Card 3k
Amazon/Synchrony 3k
Cathay Pacific/Synchrony 2.5k
AMEX Hilton 1k
Target 800
Ch 13 filed 12/13 discharged as paid 1/19
Message 17 of 20
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New Contributor

Re: Outdoorsy peeps

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

Mar 2012: 03/31/2012 - FICO EX 599 (auto loan pull) EQ 593 TU 602)
Oct 2012: 10/25/2012 - EX (tenant screening) 655 - EQ (myfico.com) 641 - TU (myfico.com) 622
Aug 2020: FICO 8: EQ 690, TU 685, EX 688
700s or Bust!
Message 18 of 20
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Established Contributor

Re: Outdoorsy peeps


@Overmedicated 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.

    Total Loan Balance: $61k / $104k

    Total SL: $41.2k
Goal cards:



United 1K - 675,000 lifetime flight miles    |    Chase 6/24
Message 19 of 20
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Super Contributor

Re: Outdoorsy peeps


@coreysw12 wrote:

@Overmedicated 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.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
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Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 20 of 20
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