Cabela's Announcement

[Anonymous]

Well folks, here it is....

http://www.cabelas.com/custserv/custserv.jsp?pageName=TommyLetter

"We announced that Cabela's will merge with Bass Pro Shops and, upon closing of the transaction, will begin a multi-year partnership with Capital One whereby Capital One will exclusively service the Cabela's CLUB Visa card."

[happypill]

Thanks for sharing...but wasn't this information shared quite some time ago?  It seems like we've known that Bass Pro is buying Cabelas and Capital One is getting the CC portfolio for at least 6 months.

[Anonymous]

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@happypill wrote:

Thanks for sharing...but wasn't this information shared quite some time ago?  It seems like we've known that Bass Pro is buying Cabelas and Capital One is getting the CC portfolio for at least 6 months.

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This is the first official announcement that I'm aware of. Prior to this it could have changed. Also, I think this is the first mention of what will happen to the rewards program.

[Anonymous]

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@Anonymous wrote:

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@happypill wrote:

Thanks for sharing...but wasn't this information shared quite some time ago?  It seems like we've known that Bass Pro is buying Cabelas and Capital One is getting the CC portfolio for at least 6 months.

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This is the first official announcement that I'm aware of. Prior to this it could have changed. Also, I think this is the first mention of what will happen to the rewards program.

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Thanks for sharing.

[fltireguy]

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@happypill wrote:

Thanks for sharing...but wasn't this information shared quite some time ago?  It seems like we've known that Bass Pro is buying Cabelas and Capital One is getting the CC portfolio for at least 6 months.

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Sort of. Capita One wasn't able to directly buy the CC business, actually Synovus is buying WFNB and THEN selling the CC portfolio to Capital One, or something to that effect...    THere was some sort of a regulatory issue with Cap One purchasing the whole thing.. 

[huntnfishnguy09]

so I guess I have never experienced something like this with any of my credit cards before. I am assuming my credit card will remain the same as far as SL, APR, etc etc, with the exception that it will be serviced by cap one now? Or am I wrong?

[Anonymous]

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@huntnfishnguy09 wrote:
so I guess I have never experienced something like this with any of my credit cards before. I am assuming my credit card will remain the same as far as SL, APR, etc etc, with the exception that it will be serviced by cap one now? Or am I wrong?

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I really, really, hope so but I'm not sure either. Hopefully they won't make any changes because I know Cap One isnt my biggest fan....

[huntnfishnguy09]

That makes two of us, they denied me for the venture card of theirs just recently. My cableas card is by far my most used card so I'm a bit nervous as to what might happen...

[MyLoFICO]

The only changes I see coming is your CLI's will drop from $1k's to $150 and most will just be flat out denied. The classic tier will almost certainly be a builder card and get an Annual Fee. You will also have the option to upgrade your card from a Cabela's Visa to a Cabela's Visa. So, you have that going for you.