Company Information

Get to know Advanta Bank

Founded in 1951, Advanta began as a provider of loans to schoolteachers. Over the decades, it evolved and eventually focused its business on the niche market of providing credit cards to small businesses and professionals, growing to become a major national issuer. The company faced severe financial distress during the 2008 financial crisis due to soaring default rates in its credit card portfolio. Unable to recover from substantial losses, Advanta Bank Corp. was closed by the Utah Department of Financial Institutions on March 19, 2010, and the Federal Deposit Insurance Corporation (FDIC) was named as receiver.

Industry

Financial BankingPRIMARY
Financial Other Service
Financial Payment

Contact

Social

Company hasn't updated its information.

THIS SERVICE IS NOT AVAILABLE IN YOUR REGION

Advanta Bank

United States

Founded in

1989 (37 Years)

Founded

Last online: No recent activity

Claim company Visit website

TrustScore unavailableNot enough score to display the trend.

Be the first to rate and review this company.

OVERALL SCORE

Others

--/10

Reviews

--/90

0 reviews

Provided by TrustFinance

TrustScore unavailableNot enough score to display the trend.

Be the first to rate and review this company.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.

Regulated

Recommended

IUX

(2,284 reviews)

Mauritius

2015

(10 years)

Security Information :

FSCA

FSC

ASIC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.