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Cabelas selling credit card division

Frequent Contributor

Re: Cabelas selling credit card division

Looks like Bass Pro is closing in on a deal soon. I'm sure it will include BofA to take over the finance arm of the business. 

 

http://www.journal-news.com/news/news/local/bass-pro-shops-in-bid-to-buy-cabelas/nq9Sb/

 

 

Message 31 of 39
Frequent Contributor

Re: Cabelas selling credit card division

http://journalstar.com/business/local/report-buyer-lined-up-for-cabela-s-credit-card-operation/artic...

 

Sounds like there is a buyer lined up for their credit card contingent on the sale of the retail part of the business.

 

Is it just me or does it sound like it's going to be Bank of America?

 

According to the Post, the deal is contingent on the sale of the retail part of the business and would be formalized at the same time such a deal is struck.The newspaper said the team of Goldman Sachs Capital Partners and Bass Pro Shops remains the favorite to buy the company, which has a market value of about $3.3 billion.

Too many new cards and am too lazy to update my signature
Message 32 of 39
Frequent Contributor

Re: Cabelas selling credit card division

BofA hAs limited exposure in the retail card business. This would be a good catch for there portfolio. Wouldn't surprise me one sec if it's not in the bag for them already IMO . In the sale of busines, I read where all bids need to be turned in by the end of the month. We anxiously wait
Message 33 of 39
Frequent Contributor

Re: Cabelas selling credit card division

Thats what  I am thinking too. It mentions it won't be finalized until the sale of Cabela's itself is finalized, so I basically interpreted that most likely BOFA has a deal in place to buy their credit card business barring Bass Pro's deal to buy Cabela's successfully goes through. I think thats the most likely scenario (but again thats just my guess, could be wrong)

Too many new cards and am too lazy to update my signature
Message 34 of 39
Valued Contributor

Re: Cabelas selling credit card division

It does sound like BoA has their hands on this potentially
                                                                  

Total Credit: $192,100Utilization: 1%AAoA: 5yrs, 4mthsInstallments: Car Lease, Marcus LoanBaddies: 0On Chop Block: Penfed, Citi

             
             
                          DSC-24.1K | NFC-25K | ALI-25k | WAL-10k | BoA-13k | BB-12k | NFL-15k | LOW-25k | AMX-19.3k | CHA-10k | PF-6k | C-TY-3.9k | C-DC-3.8k
Message 35 of 39
Frequent Contributor

Re: Cabelas selling credit card division

Please let it be BofA. 

Ymmv ~ Cheers!

Discover it (4k), United (8k), Southwest (9k), AARP (5k), Hyatt (8k), Freedom (8k), Venture (20k), Quicksilver (30k), Hawaiian (15k), Cabelas (4k), BofA Cash (1.5k), Amex Hilton (10k), Citi Voyager (5k), Citi AA Platinum (4k), Farmers (7.5k), Amex Spg (10k)
Message 36 of 39
Regular Contributor

Re: Cabelas selling credit card division

Just asking for knowledge and curiosity but why do some want BoA? I understand most don't want Comenity (I understand why), but what about Citi or someone else?

 

Here's a wild and crazy thought, if it's not Bass who buys them but some investment firm, how about Amex, after losing Costco and JetBlue they could use it. Yes, I know, but I did say it was a wild and crazy idea.

Message 37 of 39
Frequent Contributor

Re: Cabelas selling credit card division

Soundling more and more like Bass Pro has this in the bag. If this article is to be believed, other potential buyers dropped out.

 

http://nypost.com/2016/07/14/cabelas-nears-sale-to-goldman-sachs-and-bass-pro-shops/

Too many new cards and am too lazy to update my signature
Message 38 of 39
Highlighted
Valued Contributor

Re: Cabelas selling credit card division

I would like it to be BofA because I like the way they service my 3-2-1... Good interest rates, and they aren't Synchrony or Comenity Smiley Happy! But I'll gladly take Citi too.
Message 39 of 39