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Advanta Corp. (ADVNA) [hlAlert]

Advanta Corp. (Advanta) issues business purpose credit cards to small businesses and business professionals in the United States. The Company's business credit card accounts provide approved customers with unsecured revolving business credit lines. During the year ended December 31, 2008, Advanta had $506 million of owned business credit
card receivables and $4.5 billion of securitized business credit card receivables. The Company owns two depository institutions, Advanta Bank Corp. and Advanta Bank. Advanta primarily funds and operates its business credit card business through Advanta Bank Corp., which offers a range of deposit products that are insured by the Federal Deposit Insurance Corporation in accordance with applicable FDIC regulations and limits. The Company offers credit protection and related products to its customers. In November 2009, the Company announced that it has filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code.
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( Total: Current Stock Recommendations )
Advanta Corp.   ()
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