THOUSAND OAKS, Calif. – Forty four credit unions have sold their credit card portfolios and likely entered into agent relationships with their buyers so far this year, according to Robert Hammer, a noted card portfolio consultant and broker. As of the end of the third quarter of this year, according to Hammer, 36 non-credit union card issuers have sold card portfolios worth more than $15 million and six credit unions have done so. An additional 39 credit unions have sold portfolios valued at less than $15 million this year, Hammer said. Premiums for the "prime" and "superprime" portfolios have ranged from 17% to 19%, Hammer reported, but some portfolios have brought as much as 26%.
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