Outdoor retailer makes strategic credit card agreement

While the ink has barely dried on the contract for Bass Pro Shops to acquireCabela’s,the outdoor retailer is already planning some big moves.

Bass Pro Shops is entering into a 10-year agreement with Capital One, a move that will make the card provider the exclusive issuing partner of co-branded credit cards to Cabela's customers. This agreement will become effective once Bass Pro Shops' completes its proposed acquisition of Cabela’s, which was announced today. Specifically, the retailer anticipates the deal to close the first half of 2017, according to a company statement.

Through the agreement, Capital One will acquire the credit card operation from Cabela's, including approximately $5.2 billion in credit card receivables and other assets, and approximately $5 billion in associated funding liabilities. The agreement includes revenue and loss sharing provisions for the ongoing credit card program.



"Cabela's has developed a remarkably loyal base of credit card customers, and we look forward to continuing to provide those customers with tremendous service as part of the Bass Pro Shops' family,” said Johnny Morris, founder and CEO of Bass Pro Shops.