First USA, the credit card subsidiary of Bank One Corp., has purchased Carolina First Corp.'s portfolio of $112 million in credit card receivables.

First USA will serve as agent bank for Carolina First, which is based in Greenville, S.C., and has 130,000 Visa accounts and $2.8 billion of assets. First USA will offer its credit card products to Carolina First customers under the Carolina First Bank brand.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.