It might be appealing to have Cabela's CLUB Capital One Credit Card if you've already spent large portions of your income in the specialty retailer for outdoor goods. Spending money at Cenex convenience stores, gas stations, Cabela's, and Bass Pro Shops will net you 2 percent in cash back from Bass Pro Shops, Cabela's, and participating Cenex stores and 1 percent back on other purchases. If you're prone to carrying an account balance, be aware that Cabela or Cenex purchases are restricted to a lower rate than other purchases made using the card.
This Card is Best For
This card may be useful for someone who frequently spends money in Cabela's and Bass Pro Shops and wants to earn rewards that they can use at the stores and their affiliates. When you make more than $25,000 in these stores per year, you also get access to Silver and Black levels of benefits for members that include access to exclusive fishing and hunting trips.
Bonus
This card isn't a usual one-time deal. That means you won't be able to earn a significant amount of cash or points after satisfying a minimum spend requirement. The reward is up to $60 CLUB Points: $20 CLUB points once you've been approved after approval, and then $20 in CLUB Points when you make two purchases at Bass Pro Shop or Baela's within 30 days after approval, after which you earn an additional 20 points upon making five purchases at any other location Mastercard can be acceptable within 30 days after account approval. Additionally, you can get free equipment.
Rewards Redemption Details
Points earned through Cabela's CLUB Mastercard can be used for purchases at Cabela's or Bass Pro Shops. There's no minimum quantity of points needed to redeem points, and the points won't expire. Every 100 points you exchange is equivalent to one dollar, which makes them worth one cent. Therefore, 5,000 points will be equivalent to $50. Ten thousand points will be worth $100, and it goes on. This isn't bad for a store-branded credit card. The drawback is that you aren't able to redeem points for cash or use them to credit your statement against purchases.
How to Maximize Your Rewards
Because the options for redemption are limited, maximizing your rewards is all about how you spend your card. Here are two instances of how your spending can be significant in terms of the points you earn.
Average Case
Let's say you spend $8,000 per year on your credit card, making you a CLUB Classic member. Of that amount, there is $6,000 worth of purchases done in Bass Pro Shops and Cabela's, earning the customer 12,000 points. The remainder of $2,000 is for other purchases, which earns you the equivalent of 2,000 points. With a redemption rate of 100 points equal to $1, you'll earn $140 worth of rewards that you can apply to Bass Pro Shops and Cabela's purchases.
Aspirational Case
Let's say you increase your spending and achieve a Black membership level in Cabela's CLUB. You'll spend $25,000. This includes Bass Pro Shops, Cabela's, and its affiliates receiving 125,000 points during the process. It's a significant amount to spend in one place; however, it's feasible if you're a big fan of shooting sports, hunting, and fishing, with all the top-of-the-line equipment available. Also, suppose you charge an additional $5,000 worth of other purchases and earn 5000 points. The 130,000 points you accumulate will translate into 1300 dollars in rewards that can be used to make future purchases at Bass Pro Shops and Cabela's purchases.
Top Perks
Up to $30 Club Points bonus
Once you've been approved for the card, you'll earn 20 CLUB Points that can be used towards the purchase of any Cabela purchase or Bass Pro Shops order. There's another $10 worth of CLUB Points when you make five purchases in thirty days following approval of your account. This isn't as good as the most attractive sign-up bonuses, but you'll get fast and easy reward points.
As high as 2% back
When used at Cabela's, Bass Pro Shops, and other eligible Cenex stores, the card can earn a cashback reward of 2% of the transaction price. It gives you a one percent rebate on every other purchase you make. All incentives are earned as Club Points, just as the initial incentive that comes with the card. These points can be redeemed for merchandise at Cabela's and Bass Pro Shops.
Cons
Redemption Is Limited to Purchases
Although you could earn lots of points using this card, there's only one way to use these points. Points can only be used for purchases made at Bass Pro Shops and Cabela's, and 100 points equal one dollar.
Different APRs
Most credit cards offer an APR range applicable for all transactions, excluding when they're tied to promotional rates. For example, Cabela's CLUB Mastercard has one APR for Cabela's and Bass Pro Shops purchases and another APR range for the rest of your purchases. If you're not making full monthly payments, it can be difficult to track the amount of interest charged.
