The American credit card market rebounded with the economy in the second quarter last year, according to the American Bankers Association’s December Credit Card Market Monitor report.

Both new accounts and monthly purchase volumes rose during that period, compared with the prior quarter.

"Strong economic growth in the second quarter offset declines in the first quarter," Molly Wilkinson, executive director of ABA’s Card Policy Council, said in a statement. "The significant economic growth we’ve seen in recent months makes it likely that credit card market trends will continue for the remainder of 2014 and beyond."

Furthermore, the distribution of accounts continued to shift away from so-called "revolvers," who carry balances month-to-month, and toward "transactors," who pay their balance in full each month, the report said. The share of "transactors" increased 0.6 percent from the first quarter to account for 29 percent of account holders, while "revolvers," which still comprised the largest behavior type category, declined 1.5 percent to 41.2 percent of the market. "Dormants" increased 0.8 percent to 29.8 percent.

According to the ABA report, the average credit line for new accounts increased across all risk types, ticking up 0.1 percent, 0.2 percent and 1.2 percent for subprime, prime and super prime accounts respectively.

"As the economy improves, consumers are better able to meet their financial obligations," Wilkinson said. "This is reflected in the small credit line increase for new accounts as lenders gain confidence in consumers’ ability to manage their household debt."

The ABA compiles this quarterly report with a nationally representative sample from Argus Information Services LLC and data pulled from other public and private sources, like the Federal Reserve and the Department of Commerce’s Bureau of Economic Analysis.