i just got a letter informing me they have closed my account...the bill is payed on time and there is no explanation...they say to call to ask for a reason. this is pretty odd i have never had an account closed especially for just no reason...anyone else get this letter
Cabelas credit card "account closed"
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6,574 Posts
Mine has been automatically closed only because it had been inactive for years and I never used it due to the unreasonalbly high interest rates they give. I actually had to call and make them lower my limit when I first got it because I didnt want to have that much open on a card so I could prevent myself from using it for the mother of all shopping sprees if I decided to fill my "wish list" all in one afternoon.
http://articles.moneycentral.msn.co...marts/credit-cards-use-them-or-lose-them.aspx
This was on MSN Money yesterday.
This was on MSN Money yesterday.
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14,753 Posts
Cabelas cancelled my card as well because I didn't use it for 3 years.
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2,435 Posts
I just got approved far a Cabela's card with a $4000/month limit and something like 12% interest which is ridiculously low now. Funny thing is...I'm in college and work a job off the books. The only other credit I have is from a credit card I've had for over a year and never missed a payment and according to them I have no income. Didnt make sense to me but I was happy I got approved.
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2,528 Posts
I just used mine about 20 mins ago. I am in an airport in iowa and had to change a flight. I use it for all my business travel. My company reimburses me and I get all the points. Beautifull thing!
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9,713 Posts
ALMOST wish they would cancel mine, LOL
you KNOW how hard it is being in the candy store with out filling a shopping cart
you KNOW how hard it is being in the candy store with out filling a shopping cart
no credit is the best credit anyway!!! The biggest thing is your need to state on your credit report that it was closed by consumer as if it gets listed as closed by grantor that will effect your credit score. I know alot of people that have been getting screwed by many credit card companies they dont care how long you are with them how much you make nothing if they feel your at risk limits will get lowered and accounts will get close.
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938 Posts
Their credit card portfolio is experiencing increased writeoffs.
Link
Cabela's
Retail has been a four-letter word lately, but sporting goods retailer Cabela's reported growth in earnings and revenue in the second quarter, helped by growth in same-store sales and increased demand for hunting equipment. However, it recently reported that its credit card portfolio had increasing charge-offs in July, a thorny issue that discounter Target (NYSE: TGT) has faced in the past. The company is still looking for growing revenue and same-store sales in 2009 over last year, but expects earnings to be flat. The mixed outlook prompted a JPMorgan analyst to recently downgrade the stock projecting weakness in guns, ammo, and other discretionary items. A total of 90% of the 724 CAPS members rating Cabela's see it topping the S&P.
Link
Cabela's
Retail has been a four-letter word lately, but sporting goods retailer Cabela's reported growth in earnings and revenue in the second quarter, helped by growth in same-store sales and increased demand for hunting equipment. However, it recently reported that its credit card portfolio had increasing charge-offs in July, a thorny issue that discounter Target (NYSE: TGT) has faced in the past. The company is still looking for growing revenue and same-store sales in 2009 over last year, but expects earnings to be flat. The mixed outlook prompted a JPMorgan analyst to recently downgrade the stock projecting weakness in guns, ammo, and other discretionary items. A total of 90% of the 724 CAPS members rating Cabela's see it topping the S&P.
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