Bank One Corp. said late Tuesday that it would miss analysts' earnings targets by 7% to 8% this year due to a shortfall in credit card earnings.

The nation's fifth largest bank said its credit card division, First USA, has been hurt by slower growth and margin pressure. Competition for credit card business is increasing and demand for credit cards is slowing industrywide, the company said.

Bank One said it is still on track, however, to achieve the $1.2 billion in savings and increased revenue from its merger last year with First Chicago NBD Corp. -- Laura Pavlenko Lutton

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