After outbidding five of the nation’s largest card issuers for Wachovia Corp.’s $8 billion portfolio of credit card loans, Bank One Corp. said its deal to purchase these sought-after assets signaled the end of troubles at the First USA card division and the beginning of a growth spurt.

Buying Wachovia’s 2.8 million card accounts is “the kind of thing Bank One should be doing,” Bank One chief executive officer James Dimon said Monday. Now that the Chicago banking company has settled consumer lawsuits over unfairly charged late fees and has changed the management in charge at the time, he said, “we are capable of doing something like this.”

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