An analyst who tracks credit cards and credit card portfoliomanagement and sales reported that the market for bank and creditunion issued card portfolios picked up significantly in 2012.
|Robert Hammer, a leading card management adviser and founder ofthe Card Knowledge Factory, reported that $33.1 billion in creditcard portfolio balances, spread over 37 portfolios, switched handsin 2012.
|He also reported a further $6 billion in balances were likely toclose in early 2013 that had still been pending in 2012.
|This is significantly higher than the 10 card deals worth $5.3billion that were posted in 2011.
|Hammer's firm tracks transactions involving bank and creditunion card portfolios but did break out how many of the 37 in 2012involved credit unions.
|The market for credit union credit card portfolios had slowed to almost a complete stop in the recent economicdownturn.
|Hammer cited an increasing perception of credit cards as aworthwhile investment and an increasing use of premiums for helpingto drive 2012's increased sales volume.
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