Bank of America reported this morning that its credit card outstandings rose nearly $3 billion in the fourth quarter, producing a 24% increase over the one-year ago quarter. BofA says it added 414,000 new credit card accounts during the fourth quarter. For all of last year BofA opened 4.26 million new credit card accounts compared to 2.67 million in 2002. BofA says the account growth was driven by the development of more competitive offers, improved technology at the point of sale and an increase in direct mail marketing. For 2003, BofA notes that consumer credit and debit card purchase volumes increased 13% and 22%, respectively. Bof A reports that its card income increased 11% to $815 million. Managed credit card profits were $323 million for the fourth quarter, a 3% gain over 4Q/02. Total revenue for its managed credit card portfolio was $1.2 billion, a 3% gain over last year. At the end of the fourth quarter, BofA had $36.6 billion in managed credit card outstandings, a 24% increase over the year-ago quarter. Fourth quarter charge-offs were 5.12%, compared to 5.32% in the prior quarter, and 5.03% one year ago. Managed 30+ day delinquency was 3.93%, compared to 3.84% in the third quarter, and 3.94% for 4Q/02. Managed 90+ day delinquency was 1.77%, compared to 1.76% in the third quarter, and 1.71% for 4Q/02. For complete details on Bank of America’s 4Q/03 performance visit CardData ([www.carddata.com]).