According to documents submitted to the Office of Comptroller of the Currency, Capital One will pay approximately $200 million for Cabela’s credit card portfolio as part of their sale to Bass Shop Pro. In October Bass Shop Pro entered a binding agreement to purchase Cabela’s for approximately $5.5 billion.
The deal is a 10 year lease with Bass Shop Pro and it’s likely that this deal contains a profit sharing agreement between Capital One & Bass Shop Pro due to the low purchase price. Previously Cabela’s credit card were issued by World’s Foremost Bank (subsidiary of Cabela’s) after Bass Shop Pro’s acquisition of Cabela’s is completed World’s Foremost Bank will be closed.
At this stage it’s unclear what, if any changes will be made to the Cabela’s credit card.
View Comments (2)
Also known as: Crapital One... Let us check your credit score, but while we are at it why not create three pull requests with all credit bureaus...
Haha.