In this video, I break down the Cabela’s CLUB Mastercard (issued by Capital One) and why it’s a super specific financial tool that only really makes sense if you already live and breathe Bass Pro Shops or Cabela’s. I walk through the tiered rewards structure: Classic gets you 2% back on brand purchases up to $10,000/year, Silver kicks in at 3% after you pass $10,000, and Black is the big headline—5% back—but only if you spend more than $25,000 in a single year. I also cover the other buckets: 2% back at participating Cenex gas stations, and a weak 1% back everywhere else. The most interesting part is the interest-rate split. Brand purchases at Cabela’s/Bass Pro come with a 9.99% variable APR, which is unusually low for a retail-style card and can actually help if you’re financing a big-ticket item like optics or a boat motor for a short payoff window. But the script flips hard for everyday use: non-brand APR can run from the high teens up to 30.49%, and cash advances can also hit 30.49%. My takeaway: it’s fine as a no-annual-fee loyalty card for disciplined brand loyalists, but it can turn into a liability fast if you use it as a general daily driver.