Advanta Cancels All Cardholder Accounts

Advanta

The Advanta Corporation has announced that effective on May 30, 2009, all accounts will effectively be closed.  This means that no further activity will be allowed on any existing accounts, whether they be purchases, balance transfers, or via convenience checks.  While no account will be allowed to incur new charges, none of the accounts are being required to be paid in full at this time. In addition, according to the company, any promotion or special rate pricing that commences prior to the May 30th closing date will be honored, as will the rewards program earnings.

More detailed information can be found here

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