ATLANTA -- Wachovia Bank Card Services said its credit card outstandings surpassed $4 billion during the third week in December.

The Atlanta-based unit of Wachoiva Corp. also said its portfolio had risen 31% in 1994, marking the third consecutive year in which growth exceeded 30%.

The continued growth is "evidence that our customers appreciate the value that our primerate-based products provide," said Beverly B. Wells, president of the Wachovia unit, which has used a low-rate strategy to become one of the most aggressive credit card banks in the country.

"New customers have consistently used the free transfer checks they receive to transfer checks they receive to transfer balances from other, higher-rate credit cards to a Wachovia card," Ms. Wells added.

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