-
As shortcaster said always ask for a better deal. They don't always give it to you but asking is free.
Also, if you plan on terminating the account just close your card with the current terms. You won't be able to use the card for any future purchases but you'll be able to pay it off at the current lower rate. Typically by not responding to the change in terms or by using the card after the change you are agreeing to the new terms.
I can't speak too negatively about their credit card since they did catch a fraud attempt this year before it even posted to my account. Although I felt they were very slow in getting me a new card. Not sure why they would make me wait 10 days for a new card since they lose money when I don't have my card. I was forced to use my backup card in the interim.
They did recently bump me up to the their signature card because I charge a fair amount each month. I didn't receive any rate increase but then I don't carry a balance so they probably aren't targeting me. I use the card for cabelas bucks, personal convenience and financial security.
I guess it's tough times for most folks including Cabelas. Their coupons are at a lower percentage then in the past. Their return policies are changing slightly but still very good. It will be interesting to see if BassPro follows this trend.
-
Credit cards should be used as a convenience ONLY. Their rates are plainly stated. If you use them and do not pay off balances at end of billing period, the STATED rates apply. I ,personally, am NOT a cash person. I use credit cards almost exclusively ( if I find $50 in my pocket, there's a good chance I put on someone else's pants) but my card requires me to pay off current balance when due. I could possibly extend payment BUT then the "usury" rate would be at about 20%. SCREW THAT, I pay up.
Mark
PS: My wife and I both applied and got Cabelas Credit Cards at the Mitchell SD store. Got two free hats and $10 off each for first purchase. Some Beef Jerky and a few flies covered that like "right now" and we dumped the cards in the trash on the way out.
Mark
-
Don't blame the credit card companies for the rates. They are not the ones to set the rates. It is the member banks that does that. The credit card company only provides a service and charges the member banks a fee for the service of issuing, monitoring and guarantee of transaction.
-
Like Marko, I use credit cards all the time, then pay them off when the bill comes. As a contractor I have the big box cards and Discover for business, and a couple of personal cards, including Cabelas which gets used once or twice a year when I stop at the Dundee store on my way to the Au Sable.
As a young married couple, we got caught up in the "have it now" attitude of the day, and in short order we had more CC debt than we could pay off quickly. But pay it off we did, and ever since then we only put on the cards what we can pay off when the bill comes in. If we can't pay off the purchase in 30 days, we do something that is almost unheard of today...we save for the purchase. Yep, we have reverted back to the Depression mentality of our parents. Surprisingly, when saving for the purchase, we often find that we really don't need what we were saving for, and just leave the money in the Rainy Day account.
If you carry ANY balance on your cards when buying Bargain Cave or sale items, you have wiped out any savings you thought you were getting. You're just fooling yourself. My advice is to get out of CC debt as soon as you can. If you are using CC's for medical debts (recommended by the billing companies because it transfers the debt), stop that practice right now. Let the billing company send you monthly bills and pay off of those statements, because medical debt is looked at differently by credit reporting agencies, and it will not significantly affect your credit score like late payments on CC's will do. You need to keep up your score high for good interet rates, and some employers check your credit score when hiring.
-
Cabelas card
I had the card for 10 years and my wallet and card were stolen. I called for a new card and they informed me that they would not renew it since I had just cosigned for a car for my daughter I was irate but they wouldnt cange their mind. I told them to rip the card up and cancel the account and havent ordered anything from them since. Nick
-
I do like Joe V. My CC gives a small % cash back for purchases. I charge most everything and when the CC statement comes in I immediately pay it in full. I have not paid any interest since I don't know when.
Tim
-
I too don't carry a CC balance.
I have read though that some companies are considering charging folks that don't carry a balance an extra fee.
I'm thinking in that case I may pay off all but a dollar and see if that works:p.
Also have read that some may start charging interest from the date of purchase. If that happens I guess I'll go to paying by check or cash:(.
-
Credit cards are the bain of us all. With that said, I use my Cabelas every month---quite the card to use. We pay that sucker off every month. What I got coming to me with my points will fill the base of the largest Christmas Tree.
Just like the rest said---Call and get a better rate. When you cry over the phone and say "I've used your card for several years and charged somewhere around $$$$$$, now you want more from me??" Watch them snivel and bend over for you. Yes they want to charge you more, yes they are following eveyone's lead on charges, and yes they don't really want to lose you.
Don't give in too quickly, call and complain.
Big D.
-
Got my notice today....they are lowering the rate for purchases from Cabela's but raising on the other purchases...but only to 9.99%...heavy hit on late charges though....
-
As I speak, I have about $60 in my pocket. To some folks that may be a lot of money, to others, a pittance. I got in the habit of not carrying a lot of cash when I lived in NYC.
If I need to buy anything today, I have $60 to spend. I can't buy anything for $80, $90 or $100 unless I get some more cash. It's a pretty simple system, don't spend more than you have in your pocket. I do the same thing with my Cabela's Card. If I can't pay the balance when the bill comes due, I don't buy it.
Obviously, some folks have needs and expenses that force them to use lines of credit even if they don't want to. But many who decide that giving up the card is a better option than paying high interest; can live within their means.
I ain't preaching here but IMHO, the BIGGEST reason we are in this mess is too many people didn't check their pocket before they started spending.