Will the Cabelas Visa actually save you money or not? Make sure you read this Cabelas credit card review before you submit your application!

Cabelas tower, Dundee MI
I love Cabelas’s…. their catalog is great, but their stores are even better. Whenever I visit home (Michigan) I always hit up their store in Dundee which was built a few years back. From mossy oak camouflage jackets to camping backpacks… they have it all! When I found out they also now have a Cabelas credit card I was definitely interested in digging deeper. Here’s what I found…

Cabelas Visa Review
Officially dubbed Cabelas Club card, it is typically pitched to those of us that get the catalog and often when we visit their store, too. There are some perks, but definitely some drawbacks – let’s take a look at both.

Interest Rate...
The card actually has two different interest rates – one for regular spending and another for purchases at Cabela’s. At the time of this review, the APR on Cabelas purchases is 9.99%. Regular purchases carry a 15.29% to 18.29% - the rate depends on your credit.

The rate on store purchases isn’t all that bad, but a lot of other charge cards out there offer equally competitive rates too. The APR on your other spending is a bit on the high side. So if you’re someone that carries a balance once in a while the Cabelas credit card is a bad idea.

Rewards...
I don’t know about you but when it comes to credit cards, this is the most important thing to me. I’m always looking for ways to save a buck or two! Like many cards, this one gives you points (which they call Club points) on your purchases. They can be redeemed on their website, from the catalog, or at the store.
Regular Purchases: You get 1 point per $1 spent. This isn’t bad, but it’s not good either. As you know most credit cards nowadays give you 1% cash back. So this is just average.

Cabela’s Purchases: You get 2 points per $1 spent (they also do this at Cenex Convenience Stores, which they are affiliated with). I was extremely disappointed when I saw how little they give. You see, most store charge cards give you anywhere from 3 to 5% in rewards when you spend at their stores. So the Cabelas Visa card is definitely subpar.

It is possible to get 5x points if you get upgraded to the Visa Signature black card, but unfortunately they impose a steep spending requirement to get there:
Cabela's Visa Signature spending requirements
That's right, the Cabela's Visa Signature black spending requirement is a whopping $25,000 per year on the account! So you have to spend at least $25k annually in total purchases on your card before you can get upgraded to earn the 5% at their store.
Is It Worth Getting?
Cabela’s is my favorite place to go, especially for my hunting and fishing gear! But at the end of the day it’s about going with the credit card deal that will save you the most money. If you don’t, you're just throwing money down the drain. With such low rewards, I don’t recommend the Cabelas Visa card. However if you shop there a lot and spend $25,000+ per year on the account... then it could make sense.

Where To Get The Best Rewards (sponsored offer)
If you’re a Discover cardholder, it’s possible to get 5% cashback from Cabelas.com! How? Discover cardmembers have access to the exclusive ShopDiscover program which gives extremely high cash back from over a hundred online retailers, including Cabela's.

Here's a screenshot so you can see:
Cabelas discount for Discover cardholders
So if you're a Discover cardholder, you can get 5% cashback from Cabelas.com! This feature is only available to Discover cardmembers.

In addition, one of their cards gives an impressive 5% cashback bonus in rotating categories like home improvement, gas, restaurants, and many other types of spending! Find out more about this no annual fee card from Discover!