[1] Advanta's earnings for 2003 were $28.2 million, and it was the third-largest credit card company for small businesses in the United States.
Its credit cards were primarily marketed to entrepreneurs, homegrown businesses and small-scale organizations with fewer than ten employees and less than $3 million in revenue.
[1] In December 2008, developer Liberty Property Trust announced that it had stopped its plans to build a $55 million, 200,000-square-foot (19,000 m2) headquarters for Advanta in Upper Dublin Township, Pennsylvania.
In February 2009, Advanta said it had lost $43.8 million in the fourth quarter of its fiscal year, primarily because of credit losses.
[5] In early June, regulators refused to allow Advanta to improve its balance sheet by buying back $1.4 billion of its senior debt notes at a discount.
[10] On August 10, 2009, Advanta announced that the way forward for them was to find "a plan for new business opportunities" after posting a second-quarter loss of $330 million.
[13] On October 14, 2009, media outlets carried a story that a class action against the company was being readied on behalf of investors.
Some customers reported "phantom payments" they never made being applied to their account in effort to revalidate the debt and restart the statute of limitations on their several-year-old defaults.
On November 4, 2011, AC Trust in the Advanta Corp., commenced Chapter 5 preferential transfer recovery litigation in the District of Delaware.