Exhibit 5

[Wolf, Block, Schorr and Solis-Cohen LLP Letterhead]

                                 June 17, 2002

Advanta Corp.
Welsh & McKean Roads
P.O. Box 844
Spring House, PA 19477

         Re:      Registration Statement on Form S-3

Ladies and Gentlemen:

      As special counsel to Advanta Corp., a Delaware corporation (the
"Company"), we have assisted in the preparation of a Registration Statement on
Form S-3 (together with all exhibits thereto and documents incorporated by
reference therein, the "Registration Statement") in the form proposed to be
filed with the Securities and Exchange Commission (the "Commission"). The
Registration Statement relates to the issuance and sale from time to time,
pursuant to Rule 415 of the general rules and regulations promulgated under the
Securities Act of 1933, as amended (the "Securities Act") of up to $700,000,000
aggregate principal amount of RediReserve Variable Rate Certificates which will
be payable at the demand of the holder (the "RediReserve Certificates") and
Notes with 91 Day, Six, Eighteen and Thirty Month and One, Two, Three, Four,
Five, Seven and Ten Year maturities (collectively with the RediReserve
Certificates, the "Securities"), all of which will be uncertificated.

      This opinion is being delivered in accordance with the requirements of
Item 601(b)(5) of Regulation S-K promulgated under the Securities Act.

      In connection with the opinions expressed herein, we have examined, among
other things, the originals or copies, certified or otherwise identified to our
satisfaction, of the Restated Certificate of Incorporation and Bylaws of the
Company, the Registration Statement, resolutions of the Board of Directors of
the Company with respect to the Registration Statement and the authorization of
the Securities registered thereby and the authorization of the filing of an
additional registration statement (the "Additional Registration Statement") for
the purpose of registering for issuance and sale an additional amount of
Securities pursuant to Rule 462 under the Securities Act (the "Additional
Securities," and collectively with the Securities, the "Offered Securities"),
the Indenture, dated October 23, 1995, between the Company and The Chase
Manhattan Bank, as successor trustee (the "Indenture"), and such other documents
as we have deemed necessary or appropriate for the purpose of rendering this
opinion.

      In our examination, we have assumed without independent verification (i)
the legal capacity of all natural persons, (ii) the genuineness of all
signatures, (iii) the authenticity of all

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Page 2

documents submitted to us as originals, (iv) the conformity to original
documents of all documents submitted to us as certified, conformed or
photostatic copies and the authenticity of the originals of such documents, and
(v) the power and authority of all persons other than the Company signing such
documents to execute, deliver and perform such documents, and the valid
authorization, execution and delivery of such documents by such other persons.
As to any facts material to the opinions expressed herein which were not
independently established or verified, we have relied upon oral or written
statements and representations of officers or other representatives of the
Company.

      We are admitted to practice in the Commonwealth of Pennsylvania and the
State of Delaware and we do not express any opinion as to the laws of any other
jurisdiction other than the federal laws of the United States of America to the
extent referred to specifically herein. The Offered Securities may be issued
from time to time on a delayed or continuous basis, and this opinion is limited
to the laws, including applicable rules and regulations, in effect on the date
hereof, and to the facts in existence on the date hereof. We assume no
obligation to update such opinion.

      Based upon and subject to the foregoing, and such examinations of law and
such other matters as we have deemed relevant under the circumstances, it is our
opinion that:

      1.    The Indenture has been duly authorized by the Board of Directors of
            the Company, has been duly executed and delivered by the Company and
            is a valid and binding agreement, enforceable against the Company in
            accordance with its terms, except to the extent that enforcement
            thereof may be limited by bankruptcy, insolvency, reorganization,
            fraudulent transfer, moratorium and other similar laws now or
            hereafter in effect relating to or affecting the rights of creditors
            generally and subject, as to enforceability, to general principles
            of equity (regardless of whether enforcement is sought in a
            proceeding in equity or at law).

      2.    When and if the definitive terms of any Offered Securities and of
            their issue and sale have been duly established in accordance with
            the Board Resolutions, the Board Resolutions and an Officer's
            Certificate (each as defined in the Indenture) or a supplemental
            indenture with respect to such Offered Securities are delivered to
            the trustee under the Indenture in accordance with the terms of the
            Indenture, the consideration for such Offered Securities approved by
            the Company's Board of Directors or the Executive Committee of the
            Company's Board of Directors in accordance with the Board
            Resolutions has been received by the Company, and such Offered
            Securities have been registered in the "Security Register" (as
            defined in the Indenture) in accordance with the provisions of the
            Indenture, so as not to violate any applicable law or agreement or
            instrument then binding on the Company, such Offered Securities will
            be duly authorized, legal and valid binding obligations of the
            Company, enforceable in accordance with their terms and entitled to
            the benefits provided in the Indenture, subject to applicable
            bankruptcy, insolvency, reorganization, fraudulent transfer,
            moratorium and other

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Page 3

            similar laws now or hereafter in effect relating to or affecting the
            rights of creditors generally and subject, as to enforceability, to
            general principles of equity (regardless of whether enforcement is
            sought in a proceeding in equity or at law).

      We hereby consent to the filing of this opinion with the Commission as an
exhibit to the Registration Statement and to the incorporation by reference of
this opinion as an exhibit to the Additional Registration Statement. We also
consent to the reference to our firm under the heading "Legal Opinions" in the
prospectus and any prospectus supplements constituting a part of the
Registration Statement and to the incorporation by reference of such references
to our firm in the Additional Registration Statement. In giving this consent, we
do not admit that we are in the category of persons whose consent is required
under Section 7 of the Securities Act or the rules and regulations of the
Commission.

                                     Sincerely,



                                     /s/ Wolf, Block, Schorr and Solis-Cohen LLP




                                     WOLF, BLOCK, SCHORR and SOLIS-COHEN LLP