Advanta Card

Advanta Banking Company:

Advanta is a banking concern of American origin and it has two banks that operate under the name of Advanta; Advanta Bank Corp and Advanta National Bank, however, the Advanta Energy Corp is a separate entity and is not related to the Advanta banking company even though they share somewhat common title. Advanta is primarily into the business if providing personal loans specifically to teachers, however, the corporate focus of the company lies on the business credit cards for small businesses. Thus, Advanta earned the receivables from the credit card business in billions in the year 2000.

History Of Advanta:

Advanta was established in year 1951 by a school teacher in Philadelphia named Jack Alter and the company was formed in the spare bedroom of the founder. The company started growing and until 1972, the company’s investment program had twenty five million US dollar worth investments and it became publicly listed in year 1985 and at present Advanta is traded on NASDQ over the counter market. Advanta is growing at a very fast pace and in year 1995, it was regarded as one of America’s best 100 growth companies by the Financial World, followed by Fortune magazine that ranked Advanta as the America’s most admired companies in year 2000.

Products Offered B Y Advanta:

Advanta specializes in offering loans for teachers and Advanta business credit cards for small businesses. As of the Advanta credit card types, Advanta offers Advanta gas card, Advanta business credit card, Advanta platinum credit card and particularly Advanta platinum business credit cards. Advanta business cards are the specialty of the company and thus Advanta platinum business card is very popular among the people of United States. Advanta business credit card also offers rewards together with providing benefits like having one card for every type of business expense, rebates on the purchases made on Advanta business credit card and one size fits all approach that the card carries. The rewards on the cards include 5% rebate on the purchases.

Advanta’s Deceptive Business Practices With Respect To Advanta Credit Cards:

Advanta has faced the scrutiny of the people because many people feel that Advanta has been carrying out deceptive business practices in the area of Advanta business card and Advanta cards rates and the interest rates charges by Advanta were accused of “bait and switch”. In the same context, Advanta was charged with deceptive advertising and marketing practices. To give an example, Advanta claims at issuing the credit card for the small businesses, however, while applying for Advanta credit card, the guarantor social security number is to be provided and this was greatly criticized by people. Similarly, no one person can have more than one accounts with Advanta and no one guarantor can serve any other business entity except the one he is already serving. Even though asking for social security number of the guarantor is not a big issue, but issuing one credit card for one guarantor is a serious area of concern. In the same context, some people do not view Advanta credit card as a business credit card, rather it is seen as the personal credit card. These and other controversies result in labeling of Advanta’s practices as deceptive ones.

For more information on Advanta and credit cards and for obtaining information regarding how to contact Advanta credit card, log on to internet and you will find plenty of facts available to you.