8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 30, 2008

Advanta Corp.

(Exact name of registrant as specified in its charter)

Delaware	0-14120	23-1462070
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Welsh & McKean Roads, P.O. Box 844, Spring House, Pennsylvania	19477
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (215) 657-4000

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

The information in this Current Report on Form 8-K is to be considered "filed" under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

On January 30, 2008, Advanta Corp. (the "Company") issued a press release describing its results for the quarter ended December 31, 2007 and for the full year 2007. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

On January 30, 2008 at 9:00 a.m. Eastern time, Company management also will hold a conference call, publicly announced in its press release dated January 9, 2008. The call will be broadcast for the public simultaneously over the Internet through www.advanta.com or www.investorcalendar.com. Replays of the call are available on both sites for 90 days from the date of the call.

This Current Report on Form 8-K contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ from those projected. Risks that may affect the Company’s future performance are detailed in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.

Item 9.01 Financial Statements and Exhibits.

(c)	Exhibits.
The following exhibit relating to Item 2.02 shall be deemed "filed" under the Exchange Act:
99.1	Press Release issued January 30, 2008 regarding financial results for the quarter ended December 31, 2007 and full year 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Advanta Corp.
		(Registrant)
Date:	January 30, 2008
		By:	/s/ Elizabeth Mai
				Elizabeth Mai, Chief Administrative
				Officer, Senior Vice President, Secretary
				and General Counsel

EXHIBIT INDEX

Exhibit	Description	Method of Filing
99.1	Press release issued January 30, 2008	Filed herewith
	regarding financial results for
	the quarter ended December 31, 2007
	and full year 2007

EX-99.1

Exhibit 99.1

Advanta Reports Earnings for 2007

Substantial Reserves Added in the Fourth Quarter

SPRING HOUSE, Pa.--(BUSINESS WIRE)--Advanta Corp. (NASDAQ: ADVNB; ADVNA) today reported full year 2007 net income from continuing operations of $71 million or $1.61 per diluted share for Class A and Class B shares combined, including an after-tax charge of $0.17 per share relating to contingency reserves associated with Visa’s litigation with third parties. Fourth quarter earnings of $0.17 per share include an $0.11 per share after-tax charge also associated with Visa litigation matters.

In addition, the fourth quarter earnings incorporate $0.39 per share of after-tax balance sheet charges and reserve build resulting primarily from recent credit trends, and a $0.05 per share after-tax gain on the sale of a portion of the Company’s MasterCard shares.

During the year, the Company acquired approximately 335,000 new customers. Managed receivables grew approximately 22% to $6.3 billion in 2007. Owned receivables were $1.0 billion at year end, approximately 9% lower than December 31, 2006. Transaction volume of $14.4 billion for 2007 increased 17% from the prior year. For the full year, the managed net credit loss rate was 3.71% and the owned net credit loss rate was 3.39%. These net credit loss rates compare to the 2006 rates of 3.41% and 3.19%, respectively.

“Our decision to focus exclusively on the small business market almost 7 years ago has enabled us to build a profitable, sustainable business over the long haul. Although we’re disappointed with the impact of the current economy on our recent results, we believe the small business market will continue to provide opportunities for us going forward,” said Dennis Alter, Chairman and CEO.

Conference Call Details

Advanta management will hold a conference call with analysts and institutional investors today, January 30, at 9:00 a.m. Eastern Time, to review the fourth quarter and full year results for 2007. The call can be accessed by dialing 877-879-6209 and referring to confirmation code 5054657. The call will also be webcast simultaneously via a Vcall link on the Company’s website, www.advanta.com, or at www.investorcalendar.com. Those interested in listening to the webcast should go to the website at least 10 minutes before the call to register and download any necessary software. Replays of the call will be available beginning at noon today on the Internet at www.advanta.com or www.investorcalendar.com or by dialing 888-203-1112 and referring to pass code 5054657. The conference call may include a discussion of non-GAAP financial measures, which are reconciled to the most directly comparable GAAP financial measures in the Company’s press releases or the statistical supplements available at www.advanta.com in the “Corporate Info” section.

About Advanta

Advanta is one of the nation’s largest credit card issuers (through Advanta Bank Corp.) in the small business market today. Advanta’s exclusive focus on this market, as well as its size, experience and commitment to developing meaningful product offerings and a high level of service tailored to the needs of small businesses, differentiate the company from other issuers. Founded in 1951, Advanta has long been an innovator in developing and introducing many of the marketing techniques that are common in the financial services industry today. Learn more about Advanta at www.advanta.com.

This Press Release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ from those projected. Risks that may affect the Company’s future performance are detailed in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.

In addition to the GAAP results provided throughout this document, the Company has provided managed receivable data and other non−GAAP financial measurements. Management believes that the non-GAAP financial measures used to manage the business may provide users additional useful information. The tables attached to this press release include a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures and a description of why the non-GAAP financial measures are useful to investors.

ADVANTA
SEGMENT INCOME STATEMENT - QUARTER
(in thousands)
Three Months Ended
December 31, 2007
		Advanta
		Business
		Cards			Other (A)			Total
Interest income	$	38,945		$	10,829		$	49,774
Interest expense		14,983			12,547			27,530
Net interest income		23,962			(1,718	)		22,244
Provision for credit losses		21,587			(35	)		21,552
Net interest income after provision for credit losses		2,375			(1,683	)		692
Noninterest revenues:
Interchange income		69,346			0			69,346
Securitization income		10,375			0			10,375
Servicing revenues		25,258			0			25,258
Business credit card rewards		(22,495	)		0			(22,495	)
Other revenues, net		8,149			1,768			9,917
Total noninterest revenues		90,633			1,768			92,401
Operating expenses		73,140			7,924			81,064
Income (loss) before income taxes		19,868			(7,839	)		12,029
Income tax expense (benefit)		7,669			(3,026	)		4,643
Net income (loss)	$	12,199		$	(4,813	)	$	7,386
Three Months Ended
December 31, 2006
		Advanta
		Business
		Cards			Other (A)			Total
Interest income	$	37,839		$	7,209		$	45,048
Interest expense		14,066			8,161			22,227
Net interest income		23,773			(952	)		22,821
Provision for credit losses		9,969			0			9,969
Net interest income after provision for credit losses		13,804			(952	)		12,852
Noninterest revenues:
Interchange income		54,925			0			54,925
Securitization income		25,442			0			25,442
Servicing revenues		17,938			0			17,938
Business credit card rewards		(20,011	)		0			(20,011	)
Other revenues, net		5,356			1,560			6,916
Total noninterest revenues		83,650			1,560			85,210
Operating expenses		68,361			144			68,505
Income before income taxes		29,093			464			29,557
Income tax expense		11,201			178			11,379
Net income	$	17,892		$	286		$	18,178

(A) Other includes venture capital operations as well as investment and other activities not attributable to the Advanta Business Cards segment. In addition, operating expenses in the three months ended December 31, 2007 include $7.8 million of charges associated with a contingent obligation to indemnify Visa Inc. for certain litigation matters.

ADVANTA
YEAR-TO-DATE SEGMENT INCOME STATEMENT
(in thousands)
Twelve Months Ended
December 31, 2007
		Advanta
		Business
		Cards			Other (A)			Total
Interest income	$	157,255		$	38,392		$	195,647
Interest expense		54,922			44,409			99,331
Net interest income		102,333			(6,017	)		96,316
Provision for credit losses		58,200			(35	)		58,165
Net interest income after provision for credit losses		44,133			(5,982	)		38,151
Noninterest revenues:
Interchange income		249,481			0			249,481
Securitization income		79,040			0			79,040
Servicing revenues		92,393			0			92,393
Business credit card rewards		(86,705	)		0			(86,705	)
Other revenues, net		24,582			7,706			32,288
Total noninterest revenues		358,791			7,706			366,497
Operating expenses		276,439			12,529			288,968
Income (loss) before income taxes		126,485			(10,805	)		115,680
Income tax expense (benefit)		48,823			(4,171	)		44,652
Income (loss) from continuing operations		77,662			(6,634	)		71,028
Gain on discontinuance of mortgage and leasing businesses, net of tax		0			1,022			1,022
Net income (loss)	$	77,662		$	(5,612	)	$	72,050
Twelve Months Ended
December 31, 2006
		Advanta
		Business
		Cards			Other (A)			Total
Interest income	$	143,738		$	26,017		$	169,755
Interest expense		46,233			29,077			75,310
Net interest income		97,505			(3,060	)		94,445
Provision for credit losses		38,650			(50	)		38,600
Net interest income after provision for credit losses		58,855			(3,010	)		55,845
Noninterest revenues:
Interchange income		203,370			0			203,370
Securitization income		114,938			0			114,938
Servicing revenues		63,726			0			63,726
Business credit card rewards		(68,062	)		0			(68,062	)
Other revenues, net		18,952			5,031			23,983
Total noninterest revenues		332,924			5,031			337,955
Operating expenses		256,192			620			256,812
Income before income taxes		135,587			1,401			136,988
Income tax expense		52,201			539			52,740
Income from continuing operations		83,386			862			84,248
Gain on discontinuance of mortgage and leasing businesses, net of tax		0			738			738
Net income	$	83,386		$	1,600		$	84,986

(A) Other includes venture capital operations as well as investment and other activities not attributable to the Advanta Business Cards segment. In addition, operating expenses in the twelve months ended December 31, 2007 include $12.0 million of charges associated with a contingent obligation to indemnify Visa Inc. for certain litigation matters.

ADVANTA
EARNINGS AND COMMON STOCK DATA
(in thousands, except per share data)
		Three Months Ended								Percent Change From							Twelve Months Ended
		Dec. 31,			Sept. 30,		Dec. 31,			Prior			Prior				Dec. 31,			Dec. 31,		Percent
		2007			2007		2006			Quarter			Year				2007			2006		Change
Basic income from continuing operations per common share:
Class A	$	0.15		$	0.44		$	0.42		(65.9	)	%	(64.3	)	%	$	1.61		$	2.01		(19.9	)	%
Class B		0.20			0.49			0.46		(59.2	)		(56.5	)			1.78			2.12		(16.0	)
Combined (A)		0.18			0.47			0.45		(61.7	)		(60.0	)			1.73			2.08		(16.8	)
Diluted income from continuing operations per common share:
Class A	$	0.15		$	0.43		$	0.40		(65.1	)	%	(62.5	)	%	$	1.55		$	1.88		(17.6	)	%
Class B		0.18			0.45			0.42		(60.0	)		(57.1	)			1.64			1.92		(14.6	)
Combined (A)		0.17			0.44			0.41		(61.4	)		(58.5	)			1.61			1.91		(15.7	)
Basic net income per common share:
Class A	$	0.15		$	0.44		$	0.42		(65.9	)	%	(64.3	)	%	$	1.64		$	2.02		(18.8	)	%
Class B		0.20			0.49			0.46		(59.2	)		(56.5	)			1.81			2.14		(15.4	)
Combined (A)		0.18			0.47			0.45		(61.7	)		(60.0	)			1.75			2.10		(16.7	)
Diluted net income per common share:
Class A	$	0.15		$	0.43		$	0.40		(65.1	)	%	(62.5	)	%	$	1.57		$	1.90		(17.4	)	%
Class B		0.18			0.45			0.42		(60.0	)		(57.1	)			1.66			1.94		(14.4	)
Combined (A)		0.17			0.44			0.41		(61.4	)		(58.5	)			1.63			1.92		(15.1	)
Return on average common equity (annualized)		4.98	%		13.09	%		13.03	%	(62.0	)	%	(61.8	)	%		12.24	%		15.80	%	(22.5	)	%
Weighted average common shares used to compute:
Basic earnings per common share
Class A		13,356			13,343			13,306		0.1		%	0.4		%		13,337			13,287		0.4		%
Class B		27,149			27,800			27,472		(2.3	)		(1.2	)			27,679			27,096		2.2
Total		40,505			41,143			40,778		(1.6	)		(0.7	)			41,016			40,383		1.6
Diluted earnings per common share
Class A		13,356			13,343			13,306		0.1		%	0.4		%		13,337			13,287		0.4		%
Class B		29,396			30,762			30,938		(4.4	)		(5.0	)			30,664			30,795		(0.4	)
Total		42,752			44,105			44,244		(3.1	)		(3.4	)			44,001			44,082		(0.2	)
Ending shares outstanding:
Class A		14,410			14,410			14,410		0.0		%	0.0		%
Class B		28,055			28,296			28,702		(0.9	)		(2.3	)
Total		42,465			42,706			43,112		(0.6	)		(1.5	)
Stock price:
Class A
High	$	26.45		$	30.65		$	28.42		(13.7	)	%	(6.9	)	%	$	31.47		$	28.42		10.7		%
Low		6.93			20.46			22.35		(66.1	)		(69.0	)			6.93			19.21		(63.9	)
Closing		7.30			24.31			26.54		(70.0	)		(72.5	)			7.30			26.54		(72.5	)
Class B
High	$	29.95		$	33.74		$	31.14		(11.2	)	%	(3.8	)	%	$	34.51		$	31.14		10.8		%
Low		7.84			23.32			24.34		(66.4	)		(67.8	)			7.84			20.56		(61.9	)
Closing		8.07			27.42			29.09		(70.6	)		(72.3	)			8.07			29.09		(72.3	)
Cash dividends declared:
Class A	$	0.1771		$	0.1771		$	0.1417		0.0		%	25.0		%	$	0.6730		$	0.5006		34.4		%
Class B		0.2125			0.2125			0.1700		0.0			25.0				0.8075			0.6007		34.4
Book value per combined common share	$	14.40		$	14.37		$	13.77		0.2		%	4.6		%

All share and per share amounts have been adjusted to reflect the three-for-two stock split effective June 15, 2007.
(A)	Combined represents income available to common stockholders divided by the combined total of Class A and Class B weighted average common shares outstanding.

ADVANTA
ADVANTA BUSINESS CARDS STATISTICS
($ in thousands)
	Three Months Ended									Percent Change From						Twelve Months Ended
	Dec. 31,			Sept. 30,			Dec. 31,			Prior			Prior			Dec. 31,			Dec. 31,			Percent
	2007			2007			2006			Quarter			Year			2007			2006			Change
New account originations		61,234			74,195			116,157		(17.5	)	%	(47.3	)	%		335,147			370,564		(9.6	)	%
Average number of active accounts (A)		952,557			930,102			786,224		2.4			21.2				905,497			713,302		26.9
Ending number of accounts		1,316,523			1,294,273			1,126,083		1.7			16.9
Customer transaction volume	$	3,755,320		$	3,606,907		$	3,482,032		4.1			7.8			$	14,444,072		$	12,342,149		17.0
Securitization volume increase excluding replenishment sales	$	330,000		$	115,000		$	620,000		187.0			(46.8	)		$	1,218,453		$	1,185,000		2.8
Average receivables:
Owned	$	1,164,704		$	1,215,485		$	1,193,101		(4.2	)		(2.4	)		$	1,227,967		$	1,059,566		15.9
Securitized		5,148,195			4,889,381			3,773,549		5.3			36.4				4,696,289			3,337,888		40.7
Managed (B)		6,312,899			6,104,866			4,966,650		3.4			27.1				5,924,256			4,397,454		34.7
Ending receivables:
Owned	$	1,031,607		$	1,233,233		$	1,133,132		(16.3	)		(9.0	)
Securitized		5,315,421			4,980,737			4,073,128		6.7			30.5
Managed (B)		6,347,028			6,213,970			5,206,260		2.1			21.9
Operating expense ratio (C)		4.63	%		4.46	%		5.51	%	3.8			(16.0	)			4.67	%		5.83	%	(19.9	)
CREDIT QUALITY - OWNED
Receivables 30 days or more delinquent	$	42,424		$	35,276		$	26,053
Receivables 90 days or more delinquent		19,204			15,693			12,632
As a percentage of receivables:
Receivables 30 days or more delinquent		4.11	%		2.86	%		2.30	%	43.7		%	78.7		%
Receivables 90 days or more delinquent		1.86			1.27			1.11		46.5			67.6
Net principal charge-offs:
Amount	$	11,542		$	10,708		$	9,169								$	41,589		$	33,775
As a percentage of average receivables (annualized)		3.96	%		3.52	%		3.07	%	12.5			29.0				3.39	%		3.19	%	6.3		%
CREDIT QUALITY - SECURITIZED
Receivables 30 days or more delinquent	$	229,808		$	160,375		$	108,159
Receivables 90 days or more delinquent		105,577			71,951			52,279
As a percentage of receivables:
Receivables 30 days or more delinquent		4.32	%		3.22	%		2.66	%	34.2		%	62.4		%
Receivables 90 days or more delinquent		1.99			1.44			1.28		38.2			55.5
Net principal charge-offs:
Amount	$	53,572		$	48,404		$	33,100								$	178,173		$	116,227
As a percentage of average receivables (annualized)		4.16	%		3.96	%		3.51	%	5.1			18.5				3.79	%		3.48	%	8.9		%
CREDIT QUALITY - MANAGED (B)
Receivables 30 days or more delinquent	$	272,232		$	195,651		$	134,212
Receivables 90 days or more delinquent		124,781			87,644			64,911
As a percentage of receivables:
Receivables 30 days or more delinquent		4.29	%		3.15	%		2.58	%	36.2		%	66.3		%
Receivables 90 days or more delinquent		1.97			1.41			1.25		39.7			57.6
Net principal charge-offs:
Amount	$	65,114		$	59,112		$	42,269								$	219,762		$	150,002
As a percentage of average receivables (annualized)		4.13	%		3.87	%		3.40	%	6.7			21.5				3.71	%		3.41	%	8.8		%

(A)	Active accounts are defined as accounts with a balance at month-end. Active account statistics do not include charged-off accounts. The statistics reported above are the average number of active accounts for the periods presented.
(B)	Managed statistics are non-GAAP financial measures and represent the sum of owned (GAAP) business credit card statistics and securitized business credit card statistics. We believe that performance on a managed basis provides useful supplemental information to investors because we retain interests in the securitized receivables and, therefore, we have a financial interest in and exposure to the performance of the securitized receivables.
(C)	Operating expense ratio is annualized and calculated as a percentage of average owned and securitized receivables.

CONTACT:
Advanta Corp.
Amy B. Holderer
Vice President, Investor Relations
215-444-5335
aholderer@advanta.com
or
David M. Goodman
Director, Communications
215-444-5073
dgoodman@advanta.com