There’s a Cabela’s down the road from me. They are grossly overpriced on most things but once in a while something gets in there that catches my eye. On a whim, I picked up their Cabela’s credit card. It returns 2% of the purchase price of anything you buy there as ‘points’ that can be redeemed on future purchases. In other words, buy $100 worth of gear and you get $2 in points. On your next trip you use that $2 against the price of whatever your next purchase is. Follow?
Here’s where it gets… interesting.
Cabelas is having a ‘Cabelas Club’ event this Sunday. That means that theres a few things on sale but, more importantly, people who have the Cabelas card get some bonuses: a 10% off coupon for their purchase, and ‘triple points’..meaning that if you normally got 2% back in points you will get that 2% and another 6%, meaning you really get 8%. Annnnd…Cabela’s gift cards are 10% off this weekend.
And thats when my brain kicked in.
For the sake of argument let’s say a gun is $1000. You’re going to buy that gun using your 10% discount coupon. That means you need to fork over $900, right? (Because $1000 x .10 = $100 and $1000-$100=$900) Okay, so the gun will now cost you $900. BUT…gift cards are 10% off, right? So you go to the customer service counter and buy a $900 gift card. With a 10% discount on the gift card, that card will cost you $810. So far so good. You’re buying a $1000 rifle for $810. But wait, there’s more! You use your Cabela’s card to pay for the gift card. So you get 8% in points….and $810 x 8% = $64.80.
So you head to the checkout with your $1000 rifle. The gal says “$1000 please”. You hand her the coupon for 10% off. She says “Ok, that’ll be $900 please”. You give her the $900 gift card that you paid $810 for. Then you say “Id like to use my Cabelas points” and hand her your Cabelas card. She discounts you another $64.80 for the points you earned paying for the card.
Your final cost on that rifle is $1000 (orignal cost) – $100 (10% coupon) – $90 (10% for gift card) – $64.80 (points you earned paying for gift card) = $745.20, and you’ll still have some money left on the gift card. Or put another way, you’re looking at a 25% discount.
It’s also worth pointing out that Cabela’s price matches on non-internet competitors. So if your local gun shop has a gun in stock and at a cheaper price that Cabela’s can verify, they’ll match it. So..match the price first, and then hit ’em with the discounts. I did this a couple weeks back when Sportsmans Warehouse had Ruger 10/22 rifles in the $180~ range.
Gonna try this over the weekend since they have a rifle I’m kinda desirous of. (Although its not a $1000 rifle, but the math should still stand up.)