Cabels pissed me off
#11
Boone & Crockett
Thread Starter
Join Date: Feb 1997
Location: Cheasapeke and Delaware Bay Region
Posts: 10,485
Jimmy, how you gonna pay cash on an INTERNET order. I do have 2 debit cards I use as cash but with a debit card if anything goes wrong with a transaction you have no recourse. With a credit card you do. 2nd, for those that say don't be mad at Cabalas, I talked to them directly and they say they review accounts every 3 months so it is them making the secession, not the financial institute. They said my credit was not up to their requirements. Now it's strange it was when they issued it and I've bought a motorcycle and a new car since then and my score was 780. Go figure.
#12
hopefully being in retail i can shed a little bit of light on this. I go through this all the time.
First no need to get mad at Cabelas persay. They most likely use a serperate financing companies as do 99 percent of all retail companies.
Second your lucky they are lowering your limit. as others have said most companies have intiated an inactive period. if your account is inactive for a said period of time is is automatically canceled. mainly to free up some money to give to new accounts.
third it is not always a good idea to cancel an account. sometimes it can have a negative impact on your credit. not on your score persay but on your actual credit. as you see different credit companies look at credit different ways. some dont even look at your credit score.
First no need to get mad at Cabelas persay. They most likely use a serperate financing companies as do 99 percent of all retail companies.
Second your lucky they are lowering your limit. as others have said most companies have intiated an inactive period. if your account is inactive for a said period of time is is automatically canceled. mainly to free up some money to give to new accounts.
third it is not always a good idea to cancel an account. sometimes it can have a negative impact on your credit. not on your score persay but on your actual credit. as you see different credit companies look at credit different ways. some dont even look at your credit score.
If they lowered the limit, it's probably actually Bank of America or whoever they run the card through that did it, not CABELA's per se, and I wouldn't sweat it. But I already am in a house and don't plan on buying anything that will require "credit" for another 5-7yrs. so I don't really care what somebody does with my low or no balance credit cards.
#13
Jimmy, how you gonna pay cash on an INTERNET order. I do have 2 debit cards I use as cash but with a debit card if anything goes wrong with a transaction you have no recourse. With a credit card you do. 2nd, for those that say don't be mad at Cabalas, I talked to them directly and they say they review accounts every 3 months so it is them making the secession, not the financial institute. They said my credit was not up to their requirements. Now it's strange it was when they issued it and I've bought a motorcycle and a new car since then and my score was 780. Go figure.
#14
If I am not mistaken, Cabelas IS the card issuer, as in the "Worlds Foremost Bank" or something like that. There was a bakers dozen guys who have had this happen to them over on Bowsite as well. One guy was a contractor charging 15k a month on it and paying it in full each month, they just decided to quit giving him free merchandise I suppose, their own rules on earning points backfired. VERY poor choice of action on Cabelas behalf, they are penalizing you for having sound spending habits!
Guys, for those saying credit cards are terrible, not if you have enough brains/willpower/balls/______ fill in the blank to use it correctly. If paid off in full each month, it IS like spending cash only you get rewards for it. The problem is with people not having the willpower to budget properly and know when they can't use it anymore. If you use it like Rickmur does, it IS spending cash. He has the money on hand to pay the bill, instead of paying 100 stores seperately, he just cuts the check for the lump sum to one person and isn't charged interest for it.
Guys, for those saying credit cards are terrible, not if you have enough brains/willpower/balls/______ fill in the blank to use it correctly. If paid off in full each month, it IS like spending cash only you get rewards for it. The problem is with people not having the willpower to budget properly and know when they can't use it anymore. If you use it like Rickmur does, it IS spending cash. He has the money on hand to pay the bill, instead of paying 100 stores seperately, he just cuts the check for the lump sum to one person and isn't charged interest for it.
#16
I have a high score too in the high 700's I'm 28 years old and I got 3 cards lowered from what I tihnk not using them. They make no money on me.
GM card was lowered
cabelas was lowered
and some credit card that gave me 20k credit limit said I was lowered to 13,500- but thats okay with me.
GM card was lowered
cabelas was lowered
and some credit card that gave me 20k credit limit said I was lowered to 13,500- but thats okay with me.
#17
I have a high score too in the high 700's I'm 28 years old and I got 3 cards lowered from what I tihnk not using them. They make no money on me.
GM card was lowered
cabelas was lowered
and some credit card that gave me 20k credit limit said I was lowered to 13,500- but thats okay with me.
GM card was lowered
cabelas was lowered
and some credit card that gave me 20k credit limit said I was lowered to 13,500- but thats okay with me.
#18
Nontypical Buck
Join Date: Dec 2003
Posts: 3,913
The only one I had closed was a GE card account that I used in 2003. Cub Cadet had no payments no interest for one year if you used the GE financing. I paid it off before the year was up and never used it again....oh well.
#19
I had Cabela's lower my limit from 8000 to 1200. They blaimed it on to many inquiries into my credit score. The only reason i had to many inquiries was due to the fact that i was buying a house and the mortgage company runs a million credit checks. I called and complained, not that i really cared but it was the principle of the matter. And they basically told me to go f myself. I explained to them i had never made a late payment with them and that i had been a member with them for over 6 years, but none of that seemed to matter. And another thing i heard is that u should never close a card, just cut it up and dont use it. When they look at your credit score, i guess huge weight is placed upon ur length of credit history. So if you go and close a card that you have had for a long time, it looks bad because you show no history anymore. Also, my cabelas is a visa and worlds foremost bank is the issuer, which cabelas is a parent company of.
Last edited by JonnyNov; 08-05-2009 at 10:49 AM. Reason: adding more
#20
The card is sponsored by cabelas. the credit and payments go through worlds foremost bank.
Cabelas cards are not the only ones doin this. its happening all over. like i said with our company if your card is inactive for a year or more then they cancel it.
Cabelas cards are not the only ones doin this. its happening all over. like i said with our company if your card is inactive for a year or more then they cancel it.