Providian Financial Corp. has signed an agreement to buy 600,000 credit card accounts, with $350 million of receivables, from Morgan Stanley Dean Witter's Bravo portfolio.

Morgan Stanley, which issues the Discover card, discontinued the Bravo card in January. The accounts Providian is buying are of strong credit quality, said a Providian spokeswoman.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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