Fulton Financial Corp. is selling its credit-card portfolio, saying the deal will lead to more programs and services for its card holders.

Buying the $85 million portfolio for an undisclosed price is Elan Financial Services, one of the nation's five biggest credit-card companies.

"It'll be a more enriched program for our customers," said Fulton's Jim Shreiner, "and it reduces our risk here at the bank."

The sale, disclosed Friday and to be completed in 45 days, is expected to result in a pre-tax gain of $10 million for Fulton.

Though Elan will own the portfolio, Fulton will keep issuing cards under the names of its 10 affiliate banks and handle questions about the cards at its 265 branches. Fulton has 88,000 cards issued.

The sale is expected to eliminate 10 jobs at Fulton, but Fulton hopes it can absorb the workers in other positions, said Shreiner.

Shreiner said the sale will generate profits not only this year but in the future, because Fulton still will get a percentage of every purchase made with one of its cards and a fee when a new card is issued.

Card holders, meanwhile, will benefit from Fulton's partnership with Elan, whose far larger size enables it to offer more attractive programs and services, he said.

Elan has more powerful fraud detection tools. It also has around-the-clock live customer service, so replacement cards can be issued at any hour, said Shreiner, an executive senior vice president.

Elan has a cash-back program for cards issued to consumers; Fulton now has such a program just for corporate cards.

Elan also has a separate points program that's more generous with its merchandise and travel rewards than Fulton's.

Also, Elan issues cards to college students as long as they don't have a negative credit rating. In contrast, Fulton requires students to either be employed or get the card guaranteed.