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Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

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Valued Contributor

Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

 

... Saw this on the news this morning.. Well, I guess CapOne is better than Sychrony buying the CC division - since they seem a little bit more stable lately!

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
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16 REPLIES 16
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Frequent Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

Capital one is definitely picking it up?
Message 2 of 17
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Frequent Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

Yep.

 

From the Pittsburgh Post Gazette.

 

Capital One will take over running Cabela’s credit card unit as part of the deal, which is backed by $1.8 billion in financing from Goldman Sachs and another $600 million from private equity fund Pamplona Capital.

Amex Cash Mag 10K | Amex ED 10K | Amex BCE 7.5K | 5/3RD SU2C 10K | 5/3RD SU2C 6.5K | Barclays Cash Fwd 6K | Citi® Diamond Preferred 8.3K | Citi® Simplicity 7.4K | Citi® TY 4.5K | Citi® DC 4K | Cap One QS Visa 14.6K | Cap One WM MC 11K | Discover It 19.5K | Discover Miles 6K | BOA Cash 13.2K | BOA 7K | State Farm Visa 4K | US Bank FlexPerks Select+ AMEX 18K | US Bank Plat 11.5K | US Bank Cash+ 11.2K | Chase AARP 3.5K | FNBO Rewards 20K | Huntington Voice 6,250K | Huntington Voice Rewards 7.2K | HSBC Rewards 4.7K | HSBC Gold 1.2K | PNC Cash Rewards 15K | PNC Core Visa 15K | PNC Points 4K | Fidelity Visa Sig 15K | Target MC 11K | TD Bank Cash 4.5K | BB&T 6.5K | BB&T 6.5K | BB&T 6.5K | BB&T 6.5K | Rakuten Visa 10K | Ebay MC10K | Marvel MC 10K | Paypal Credit 10K | Apple Card 4.5K | F8 Scores 5/20 EX759; TU781; EQ792. New car lease 1/20.
Message 3 of 17
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Frequent Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

I wonder when that change will happen.
Message 4 of 17
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Legendary Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

That's interesting because isn't Bass Pro Credit Card with Bank of America right now?

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Moderator

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One


@Creditaddict wrote:

That's interesting because isn't Bass Pro Credit Card with Bank of America right now?


Ya strange as you would think they would of wanted the whole portfolio.. Maybe UW of cabella's wasn't up to bofa UW standards?  Or possibly it just went to the highest bidder

Message 6 of 17
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Regular Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

Looks definite for CapOne. This is from Fortune Magazine this morning:

 

http://fortune.com/2016/10/03/cabelas-bass-pro-shops/?iid=leftrail

 

 

"Fishing and hunting equipment chain Cabela’s said it agreed to be bought by rival Bass Pro Shops in a deal valued at $5.5 billion...In connection with the deal, Cabela’s agreed to sell its credit card operations to Capital One Financial."

Hit the 36-month mark January 2020! The last HD (mobile phone change) dropped off Nov 2019. BK7 Discharge is 6 yrs post.
Message 7 of 17
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Senior Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

Message 8 of 17
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Regular Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

I hate this for all those World's Foremost Bank employees, as there's not a great deal of choices in their small communities to move on in a career. And you KNOW there will be layoffs for some Cabela's employees once they start eliminating some stores. Elliott is the new Wolf Of Wall Street. Sorry, I know it's just business, but I'll bet Cabela's wishes they'd employed other strategies than ever to have let go of the majority shares in the company. Perhaps selling off WFB themselves some years ago. They could be buying Bass Pro about now. Sad times and I feel for them, especially coming up on Thanksgiving and Christmas. There are few things worst in your home finances than to be worried if you'll have a job in the New Year. Spare a thought for these people and their families. End of an era.

Hit the 36-month mark January 2020! The last HD (mobile phone change) dropped off Nov 2019. BK7 Discharge is 6 yrs post.
Message 9 of 17
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Valued Contributor

Re: Bass Pro buying Cabela's.. Credit card portfolio goes to Cap One

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