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Advanta was founded in 1951 by Jack Alter, a Philadelphia, Pennsylvania
schoolteacher, to provide individual, needs-based loans to fellow teachers.
Today, Advanta is a highly focused financial services company providing
innovative financial solutions to small business owners and business
professionals.
Advanta leverages its first-class direct marketing and information-based
expertise to develop state-of-the-art warehousing and statistical modeling
tools that identify potential customers and new target markets. Over
the past five years, it has used these distinctive capabilities to become
one of the nation's largest issuers (through Advanta Bank Corp). of
business credit cards to small businesses.
Current business credit card products include no-fee Platinum and Executive
Cards featuring custom designed cards and on-line customer service;
and a Bonus Miles Card, giving small businesses the ability to turn
business expenses into free travel.
Advanta operates two banks, Advanta National Bank and Advanta Bank
Corp. Both banks are FDIC insured and provide funding for Advanta credit cards.
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