Let’s get down into the nitty gritty. Fishing is not cheap, and it is easy to get overwhelmed and blow your coin in the blink of an eye.
So, how can we make this expense more manageable and even beneficial? The answer is a well-utilized credit card. By strategically using credit cards, you can earn rewards and save money on your fishing gear purchases. However, as Uncle Ben once said: “With great power comes great responsibility.” You aren’t saving money if you aren’t paying your statement balance in full and carrying a balance, you are just paying exorbitant interest.
Rewards Credit Cards
The best credit cards for buying fishing gear are generally those that offer high rewards on outdoor or sporting goods purchases. In general, I steer clear of specific store cards as they are constrained to that retailer, but they are most certainly an option to pursue. Something is always better than nothing. As a note, you would like to leverage these cards with the stores sales, as you can usually extend your savings significantly.
- Cabela’s CLUB Mastercard: This card is perfect for frequent shoppers at Cabela’s, a popular retailer for fishing gear. Cardholders earn CLUB Points on every purchase, with 2 points per dollar at Cabela’s and affiliated stores, and 1 point everywhere else. Accumulated CLUB Points can then be redeemed for free gear at Cabela’s. Plus, there’s no annual fee.
- REI Co-op Mastercard: For the REI shopper, the Co-op Mastercard is a fantastic option. You earn 5% back on purchases at REI and 1% back on all other purchases. This is in addition to your standard 10% member dividend.
- Scheels Visa Card: For my Midwest guys, the Scheels Visa card is also a nice option to save some cheddar. Cardholders earn 3 points per $1 spent at Scheels.com and in-store. For every $2,500 points you receive a $25 Scheels gift card. During Scheels Days, you earn extra points so plan your purchases accordingly.
Cash Back Credit Cards
Another great option for purchasing fishing gear is cash back credit cards. These cards allow you to earn a certain percentage of your purchases back as cash, which can be applied as a statement credit, deposited into a bank account, or redeemed for gift cards.
- Chase Freedom Unlimited: With this card, you get 1.5% cash back on all purchases. But the real benefit comes in with 5% cash back on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, and 3% at drugstores. These categories may indirectly support your fishing trips, making this card a versatile option.
- Citi Double Cash Card: The Citi Double Cash Card is a fantastic choice if you want to earn cash back on every purchase without having to think about rotating categories. You earn 2% cash back on all purchases: 1% when you buy, and 1% when you pay your bill. This card can be a good choice for big-ticket items like fishing rods, kayaks, or fish finders.
Maximizing Your Credit Card Use
When using credit cards, it’s essential to do so responsibly. Always pay your balance in full each month to avoid paying interest. Credit card rewards are not nearly as beneficial if you’re paying interest on your purchases. For more information on how to wisely purchase tackle to maximize your dollar, refer to this article I wrote.
Additionally, try to match your credit card with your buying habits. If you regularly shop at a particular outdoor or sporting goods store, a store-branded credit card could provide the most rewards. On the other hand, if you prefer shopping around or buying from various places, a cash back card might be a better fit.
Remember, it’s not about spending more to earn rewards, but making the most out of the purchases you were already going to make. With a bit of planning and strategic use, your credit card can help you save on fishing gear and make your fishing experiences even more enjoyable.
Happy fishing and savvy spending!
Tight lines,
Dawson