Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

February 12, 2016 3:37 AM ET

Consumer Finance

Company Overview of Advanta Corp.

Company Overview

As of February 28, 2011, Advanta Corp. went out of business under Chapter 11 liquidation as per its bankruptcy filing. Advanta Corp. issues business purpose credit cards to small businesses and business professionals in the United States. It offers MasterCard and Visa business purpose credit cards that provide approved customers with access, through merchants, banks, checks, electronic fund transfers, and ATMs to unsecured revolving business purpose credit lines. The company also offers credit protection and related products, such as credit insurance products, which provide coverage for loss of life, disability, and involuntary unemployment; and waiver agreement, which provides for the waive...

625 West Ridge Pike

Conshohocken, PA 19428

United States

Founded in 1951

841 Employees



Key Executives for Advanta Corp.

Advanta Corp. does not have any Key Executives recorded.

Advanta Corp. Key Developments

CEO Dennis Alter and Three Other Former Senior Executives of Advanta Corp. Reach $13.25 Million settlement in Class Action Lawsuit with Investors

CEO Dennis Alter and three other former senior executives of Advanta Corp. reached a $13.25 million settlement in a class-action lawsuit that alleges investors who acquired the now-defunct small business credit card lender's stock between Oct. 16, 2006, and Jan. 30, 2008 were misled about the company's financial condition. A hearing seeking approval of the settlement is scheduled for April 4. The lead plaintiff in the case is the Western Pennsylvania Electrical Employees Pension Fund. The parties used the services of former U.S. Judge Layn Phillips, now a mediator who is working on the NFL concussion case brought by former players. Phillips made a mediator's proposal, which the two sides accepted. In addition to Alter, former top Advanta executives William A. Rosoff, Philip M. Browne, and David B. Weinstock were listed as defendants. The settlement will be paid from insurance proceeds. In another class action that made similar claims, U.S. District Judge Cynthia Rufe gave preliminary approval in October of a $4.5 million settlement in another class action brought by former Advanta employees who said the company misled them.

Similar Private Companies By Industry

Company Name Region
Fleet Global Markets United States
Law Debenture Trust Company of New York United States
University Capital Investments, LLC United States
Standard Premium Finance Inc. United States
TeleCheck Services, Inc. United States

Recent Private Companies Transactions

No transactions available in the past 12 months.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Advanta Corp., please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at