Capital One, the 4th largest Visa/Mastercard credit card issuer in the United States, will buy the outstanding credit card receivables of Cabela’s, the 14th largest U.S. issuer. The contract includes a 10-year deal for Capital One to issue co-branded credit cards for Cabela’s. Capital One had outstandings of $82.54 billion at midyear 2016 when Cabela’s WFB had outstandings of $5.17 billion.
Capital One will purchase Cabela’s portfolio after Bass Pro Shops’ acquisition of Cabela’s, which is expected in the first half of 2017. Bass Pro Shops offers a co-branded Mastercard product ...
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