A Bank of America Corp. unit purchased a $200 million credit card portfolio from Clout Financial Services Inc., a Westport, Conn., card marketing company that caters to students and young professionals.
The companies did not disclose the price.
Clout announced the sale Thursday to B of A's FIA Card Services. The portfolio includes 164,000 customer accounts, including all of Clout's credit card loans.
Clout also offers student loans through a partnership with Marshall & Ilsley Corp. of Milwaukee.
