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Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Advanta Business Card lost funding.

[ Edited ]

From the Advanta.com web site.

 

Source:  https://www.advanta.com/ADV/Public/AccountClosure_Help-popup.page

 

These are some of the Q&A from this link.

 

Q: Why are you closing my account?

A: Substantially all Advanta accounts are funded by an independent trust which owns the account balances and provides funding for new transactions. The trust has stopped funding activity. The trust also restricts our flexibility to fund account activity. As a result, all Advanta Business Card accounts were closed effective May 30th.
 

Q: What should I do with my credit card?

A: You should cut up your credit card, as well as any employee cards, convenience checks and PIN numbers. However, you should keep a record of your account number. You’ll need it if you have questions about your account in future.
 
Message Edited by ilovepizza on 06-05-2009 02:56 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Established Contributor
VEEnVEGAS
Posts: 645
Registered: ‎10-24-2007

Re: Advanta Business Card lost funding.

Wow...very scary whether you have this card or not!
Frequent Contributor
GST2008
Posts: 443
Registered: ‎03-22-2008

Re: Advanta Business Card lost funding.

I had the card and was on vacation in the Caribbean when they informed me.  I really glad I brought a personal card with me as well b/c I would have been completely stranded.  They literally informed us 7 days before closing them all out.  No real notice or anything.

 

The sight does say that they are looking for an alternate lender, but who knows. 


Current:
TU (3/11/14): 794 (Inquiries; 8/23/13)
EQ (3/23/14): 791 (Inquiries: 8/23/13)
EX (9/24/13): 780 (Inquiries: 7/2/12; 11/20/12; 7/30/13; 8/23/13)

Goals: No new inquiries for 2014, 800 for all CRs by 12/31/14
Valued Contributor
GregB
Posts: 1,669
Registered: ‎05-24-2007

Re: Advanta Business Card lost funding.

The replacement is a referral to Amex. What a joke.
New Visitor
bluehorseshoe
Posts: 1
Registered: ‎06-12-2009

Re: Advanta Business Card lost funding.

Advanta closed my Kiva Business Mastercard, cl: $10,000,  last month. Now I won't be able to "give back to my community by giving out grants to deserving entrepreneurs from around the world"

 

 thanks Advanta for now lowering my credit/debt ratio (credit score).

Member
roxnadz
Posts: 8
Registered: ‎06-11-2009

Re: Advanta Business Card lost funding.

Yeah.  Thanks but no thanks...spotty coverage for the card with a creditor who has frequent mood swings...I've read the horror stories, I'll pass.

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