Posted by: John S Kiernan

EDITOR’S RATING 2.3 / 5 PROS

• Up to $30 initial bonus
• 2% back at Cabela's and participating Cenex locations (1% elsewhere)
• No annual fee
• Lower purchase APR for Cabela's purchases

CONS

• No low introductory financing rates
• Potential for a high regular APR
• 1% foreign transaction fee

The Verdict: Cabela’s may help outfit you for outdoor excursions, but the Cabela's Credit Card won’t do anything extraordinary to help you save. You’ll receive a $20 discount the day of account opening, plus the ability to earn another $10 by making five non-Cabela’s purchases within 30 days of account opening. Beyond that, you’ll earn the points equivalent of 1% cash back — just slightly below the average earning rate for a rewards card — on all purchases except those at Cabela’s and Cenex convenience stores, which earn 2%.

The thing is: You don’t even need a Cabela's Credit Card to get that 2% earning rate. Simply signing up for Cabela’s free CLUB REWARDS program enables you to earn at that rate no matter how you pay. But you’ll have to pay up to get perks that aren’t readily available to everyone else. Assuming you pass an undisclosed creditworthiness test (beyond simply having the good credit needed for standard-account approval), spending at least $10,000 per year at Cabela’s qualifies you for the Cabela’s CLUB Visa Silver Card, which offers 3% back on Cabela’s purchases. And spending at least $25,000 per year qualifies you for the Cabela’s CLUB Visa Black Card, which offers 5% back at Cabela’s.

If you somehow meet those lofty spending requirements, the Silver and Black versions obviously represent improvements upon the standard Cabela's Credit Card’s decidedly middle-of-the-road offer. But they’re not even close to being worth pursuing, considering that it’s common for store credit cards to offer 5% back on store purchases with no such spending requirements or an annual fee. And given that the lack of an annual fee is the best thing about the Cabela's Credit Card — perhaps making it easier to justify opening an account just to save at Cabela’s and possibly Cenex — it’s clear that no version of the offer is anything special.

For more information, including how the Cabela’s Card compares to popular competitors, continue reading below.

The Highlights

• Up To $30 In Initial Bonuses: For starters, you will receive $20 in “CLUB Points” toward a purchase made the day that you apply for and are approved for the Cabela’s Visa. And if you make at least five non-Cabela’s purchases within 30 days of account opening, you will get another $10 worth of points. This second bonus will be credited to your account within 60 days of your fifth qualifying purchase. 

• 2% Back At Cabela’s & Cenex: You’ll earn rewards in terms of points, but the amount that you receive will equate to 2% cash back on Cabela’s and Cenex purchases and 1% cash back everywhere else. Although these earnings aren’t quite as good as cash, considering they can only get you Cabela’s gear, that should be just fine with anyone interested in a Cabela’s Card. 

• No Annual Fee: It’s always better to pay nothing than something, and in this case, you’re saving more than $18 compared to the average credit card. Not bad.

The Lowlights

• Largely Unappealing Financing: Many credit cards offer 0% introductory rates for purchases and/or balance transfers. Not the Cabela’s Visa, though. It just has a regular APR that can be as high as 26.49% for non-Cabela's purchases, a 27.49% rate for cash advances, and a 4% balance-transfer fee. The average APR for a “good credit” credit card is 20.79%. With that being said, Cabela’s purchases will accrue interest at a rate of just 9.99%, which is well below the 14.49% average for “excellent credit” credit cards. It’s still not cheap, though, so financing should be avoided if at all possible. 

• 1% Foreign-Transaction Fee: The great outdoors aren’t restricted to the U.S., but you’ll be penalized with a 1% surcharge if your excursions take you abroad. In fact, it will apply even if you make purchases from internationally located merchants while you’re physically in the U.S. This 1% foreign fee assessed by the Cabela’s Card isn’t the highest on the market, however; it’s actually below average. But it’s expensive compared to all the no-foreign-transaction-fee offers that are available.

Other Things To Consider

• Points Don’t Expire: You shouldn’t feel any undue urgency to use your rewards within a certain period of time, as CLUB Points don’t expire by date. The only reason they’ll be taken from you is if your account falls out of good standing, which usually happens because of missed payments. 

• No Penalty APR Or Overlimit Fee: This is a courtesy that you should strive to avoid ever needing. The lack of a penalty fee will keep your new-purchase interest rate from rising due to minor infractions as well as the cost of existing debt from increasing if you become 60 or more days delinquent. The card’s similar lack of overlimit fees only comes into play if you actively opt in for the ability to make a purchase that would exceed your available credit. As long as you don’t opt in, no credit card will charge an overlimit fee. 

• 4% Balance-Transfer Fee: If the lack of a 0% promo rate and a regular balance-transfer APR as high as 26.49% didn’t already scare you off, this 4% transfer fee should solidify the fact that the Cabela’s Card isn’t the right choice for a balance transfer.
• Access To Special Offers & Events: All members of the Cabela’s CLUB REWARDS program are eligible for unspecified “exclusive offers.” Cabela’s credit-card users who spend enough to qualify for Silver or Black status also get access to Signature Travel Adventures and “The Experience.” The travel adventures are basically preplanned, all-inclusive hunting and fishing vacations. “The Experience” is similar, offering behind-the-scenes access to inner workings of hunting, fishing and outdoors companies, including Ruger, Simms and Zeiss. All such trips seem to cost at least $2,000 per person.

Compared To The Competition

Whether you want validation for your choice or a better option, the following comparison of the Cabela’s Credit Card to some of its most popular alternatives across five key categories should prove helpful.

	Cabela's Credit Card	REI Credit Card	Bass Pro Shops® Credit Card	SponsoredCiti® Double Cash Card – 18 month BT offer
Annual Fee	$0	$0	$0	$0
Rewards Bonus	up to 3,000 Points	$100	up to 3,000 Points	N/A
Rewards Rate	1 - 2 points / $1	1 - 5% Cash Back	1 - 2 points / $1	2% Cash Back
Purchase Intro APR	Not Offered	Not Offered	Not Offered	Not Offered
Transfer Intro APR	Not Offered	Not Offered	Not Offered	0% for 18 months*Transfer Fee: 3% (min $5)
Regular APR	17.49% - 26.49% (V)	13.24% - 25.24% (V)	17.49% - 26.49% (V)	15.74% - 25.74%* (V)
Editors’ Rating	2.3 / 5	4.5 / 5	4.5 / 5	5.0 / 5
Details, Rates & Fees	Learn MoreRates & Fees	Learn More	Learn More	Learn More
Winners	Citi® Double Cash Card – 18 month BT offer

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