Pull-out failures are one of the common failures in load bearing cold-formed steel clip angles causing catastrophic damages, where plate and screw fastener are dislocated. Thus, a detailed experimental study was first conducted to investigate the pull-out failures in cold-formed steel clip angles under tensile loading conditions. Then, since experimental tests are time-consuming and expensive, the ability of finite element modeling in the ABAQUS software environment was used to predict the pull-out behavior of the clip angles. The force–displacement behavior, ultimate strengths, and failure modes were compared with those obtained from experimental tests to validate the finite element models. The results were compared with those obtained from current design equations. Then, new design equations associated with numerical and both numerical and experimental results were provided by considering all geometrical and mechanical parameters to accurately predict the pull-out failure loads of the clip angles.