Is the Cabela’s Credit Card Worth It?

Lyle Daly is a personal finance writer specializing in credit cards, travel rewards programs, and banking. His work has also appeared on MSN Money, USA Today, and Yahoo! Finance.

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If you enjoy the outdoors, chances are you’ve heard of Cabela’s. The company sells all kinds of supplies for hunting, fishing, camping, and everything in between, and you can buy through its site, its many catalogs, or one of its massive stores. The stores are an experience in and of themselves, featuring gun showrooms, archery ranges, and animal trophies mounted on the walls.

Cabela’s offers its own credit card, the Cabela’s CLUB Mastercard®, for customers who want to earn points back that they can redeem at the store or at Bass Pro Shops, which acquired Cabela’s in 2017. While store credit cards can be useful when you shop at a specific store often, the Cabela’s CLUB Mastercard® has some drawbacks you should know about.

Features of the Cabela’s CLUB Mastercard®

Here’s what you get with the Cabela’s CLUB Mastercard Classic®, which is the first card Cabela’s will issue you:

  • Two points per $1 on all purchases at Cabela’s, Bass Pro Shops, participating Cenex® convenience stores, and Bass Pro Shops resorts and restaurants
  • One point per $1 on all other spending
  • No annual fee
  • 2,500-point bonus, worth $25 at Cabela’s, after approval
  • 1,000-point bonus, worth $10 at Cabela’s, after making five purchases within the first 30 days
  • Access to members-only events and offers through Cabela’s

There are also two upgraded cards you can get by reaching annual spending tiers -- the Cabela’s CLUB Mastercard® Silver, which requires $10,000 in annual spending, and the Cabela’s CLUB Mastercard® Black, which requires $25,000 in annual spending.

Note that there’s a credit history review required for these cards, so you’re not guaranteed a new card for spending enough. The only change with these cards is that they earn more than two points per $1 at Cabela’s and its associated brands:

  • The Mastercard® Silver earns three points per $1
  • The Mastercard® Black earns five points per $1

How Cabela’s CLUB Points work

This credit card earns points in the Cabela’s CLUB REWARDS program, and using your points is simple. You can apply all your points or a portion of your current points balance to any Cabela’s or Bass Pro Shops order, with each point carrying a value of $0.01.

While shopping online through your Cabela’s account, there are boxes on the payment and review order pages to enter how many points you wish to redeem on the purchase.

For in-store purchases, you can ask the cashier to apply your rewards. You can do the same with phone orders, where you’ll just need to provide your card number to the associate.

Where the Cabela’s CLUB Mastercard® falls short

The issue with the Cabela’s CLUB Mastercard® is that it has a low rewards rate for a store credit card. Many of the best store credit cards offer you 4% to 5% back on your spending with the store from the beginning -- the My Best Buy® Visa® Card and the Target REDCard are just two popular examples. With Cabela’s, you’ll only get there after $25,000 in annual spending when you reach the Black tier.

So, to get to a decent rewards rate with a Cabela’s CLUB Mastercard®, you need to use it often. But if you’re going to use one credit card for all your spending, you’d be much better off with one of the top cash-back cards. Several of those earn a flat rate of 1.5% on all spending or even up to 5% cash back, plus they include lucrative sign-up bonuses.

A better option -- combining a cash-back card with Cabela’s CLUB REWARDS

Cabela’s doesn’t let you earn points with both its credit card and its CLUB REWARDS program on the same purchase, so you can’t exceed your two points per $1 that way. You could, however, use a cash-back card and a Cabela’s CLUB REWARDS account to double up on your rewards.

Other rewards cards to consider

A Cabela’s credit card will earn you more at all the brands that are part of Bass Pro Shops, which includes retail stores, restaurants, and gas stations. But if you’re looking to earn extra at certain types of businesses, the following two cards may be a better fit to haul in more rewards.

As of Nov. 18, 2019
Discover it® Cash Back Bank of America® Cash Rewards credit card
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4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
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Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Bonus: Double cash back in the first year Bonus: $200 after spending at least $1,000 in the first 90 days of account opening
Rewards Program: Earn 5% cash back in rotating quarterly categories you activate ($1,500 quarterly spending cap), 1% back on all else Rewards Program: Now earn 3% cash back on gas or in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases.
Intro APR: Purchases: 0%, 14 months Balance Transfers: 0%, 14 months Intro APR: Purchases: 0%, 15 billing cycles Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR: 13.49% - 24.49% Variable Regular APR: 15.74% - 25.74% Variable
Annual Fee: $0 Annual Fee: $0

Highlights:

  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
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  • Use your rewards at Amazon.com checkout.
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  • No annual fee.

Highlights:

  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 15.74% - 25.74% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase

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On Bank of America's Secure Website.

What about Cabela’s events?

The one benefit you’re only going to get from a Cabela’s CLUB Mastercard® is its events. Cabela’s offers its Signature Outdoor Adventures and Experiences exclusively to its cardholders, and you typically also need to be in the Silver or Black spending tiers to qualify.

There is a range of outdoors activities available with Cabela’s throughout the year, and your card gives you the opportunity to reserve a spot. You do need to pay to participate, and the activities will usually cost several thousand dollars or more.

Having access to these events may be worth it to some consumers, but you could also probably find similar activities that you can sign up for without being a Cabela’s cardholder. And again, to take advantage of this benefit, you must spend enough to reach the Silver or Black tiers.

Should you get a Cabela’s credit card?

I’d recommend the Cabela’s CLUB Mastercard® to one very specific type of consumer -- a person who is going to use the card for all their expenses and wants access to the experiences and other offers Cabela’s has for its cardholders.

For everyone else, the Cabela’s CLUB Mastercard® gets a hard no. There are plenty of cash-back cards that can earn you more back on your spending, and that’s before you consider how you can use those cash-back cards with a Cabela’s CLUB REWARDS membership to double up on your rewards.

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