On my card, the points just keep building up until you use them.

They want you to have a card, and so they make it as easy as possible. When I first got mine, they went thru another bank. Now, they have their own bank, and I am sure they collect more in merchant fees than they pay out in points. I'd bet that if you could see Cabela's business statements that their CC's are a nice profit center. And I, for one, would just as soon see a couple Midwesterners make their money off my CC instead of a foreign owned outfit.