Part one of our examination of prospectuses for recent credit card securitizations focused on higher-end balance activity among the top issuers (see StructuredFinanceNews.com for article titled Dissecting Issuer Accounts posted Dec. 28). In this installment, it's lower-balance accounts' turn.

As mentioned in the previous article, a healthy amount of bonds backed by credit cards have been issued this year — a stark contrast to what has happened in the residential mortgage and commercial mortgage sectors. This has kept open a window of information on how the issuers are doing business.

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