Think Before You Sell Card Portfolio
Not all credit card portfolio partners are created equal.
In what was almost a throw-away line in the Feb. 16 Editor’s Column, it was suggested that the agent credit card portfolio at NIH Federal Credit Union’s "illustrates the credit union difference and should make credit unions think long and hard about what could happen when selling their credit card portfolios."
As we have partnered with credit unions across the country, it should be noted that none of the credit unions took the decision to sell their portfolio lightly. And, while portfolio sales have slowed significantly in the past 18 months, credit unions are still actively examining their options–including selling.
We cannot control what our competitors do after they buy a credit card portfolio. What we can promise is that we are committed to providing a product that credit unions are proud to call their own.