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

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

~~Pursuant~~Date toof ~~Section~~Report ~~13 or 15~~(d)Date of ~~the~~earliest event ~~Securities~~reported): ~~Exchange~~February ~~Act~~11, ~~of 1934~~2011

Date of Report (Date of earliest event reported): January 28, 2011

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.)
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


625 West Ridge Pike, Conshohocken, PA		19428
(Address of Principal Executive Offices)		(Zip Code)

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

~~Not Applicable~~ (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~~o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~£ Pre-commencement~~Item ~~communications~~1.03 ~~pursuant~~Bankruptcy toor ~~Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))~~Receivership

~~£ Pre-commencement~~As ~~communications~~previously disclosed, ~~pursuant~~Advanta toCorp. ~~Rule~~(the ~~13e-4~~“Company”) and certain of its subsidiaries (ccollectively, the “Debtors”) filed voluntary petitions for relief (the “Bankruptcy Filing”) under chapter 11 of title 11 of the ~~Exchange~~United ~~Act~~States Bankruptcy Code (17the ~~CFR~~“Bankruptcy Code”) ~~240~~in the United States Bankruptcy Court for the State of Delaware (the “Bankruptcy Court”) Case No.~~13e~~ 09-413931 (cKJC) (the “Chapter 11 Cases”). The Chapter 11 Cases for the Company and certain of the Debtors commenced on November 8, 2009 and the Chapter 11 Cases for certain other Debtors commenced on November 20, 2009.

~~Item7~~On November 2, 2010, the Debtors filed the Debtors’ Joint Plan Under Chapter 11 of the United States Bankruptcy Code (as modified, the “Plan”) and a Disclosure Statement related to the Proposed Plan (as modified, the “Disclosure Statement”) with the Bankruptcy Court.~~01.~~ ~~Regulation~~On December 17, FD2010, the Bankruptcy Court approved the Disclosure Statement (as approved, the “Approved Disclosure Statement”), as containing adequate information to permit the solicitation of votes from eligible creditors on whether to approve the Proposed Plan.

On ~~January 28~~February 11, 2011, ~~Advanta Corp. (~~the ~~“Registrant”)~~Bankruptcy ~~and~~Court ~~certain~~entered ofan ~~its~~order ~~subsidiaries~~ (~~together with~~ the ~~Registrant, the~~ “~~Debtors~~Confirmation Order”) ~~filed~~confirming ~~their~~the ~~unaudited~~Plan. ~~monthly~~The ~~operating~~Company ~~report~~anticipates ~~for~~that the effective ~~period~~date ~~commencing~~of ~~December~~the 1,Plan ~~2010,~~will ~~and~~be ~~ending~~on ~~December~~or 31about February 28, ~~2010~~2011 (the “~~Monthly~~Effective ~~Operating Report~~Date”),. ~~with~~A ~~the~~copy ~~United~~of ~~States Bankruptcy Court for~~ the ~~State~~Plan ofas ~~Delaware~~confirmed ~~(the~~by “the Bankruptcy Court”) ~~Case No. 09-13931~~ (~~KJC)~~without ~~(the “Chapter 11 Cases”~~exhibits). Aand ~~copy of~~ the ~~Monthly~~Confirmation ~~Operating~~Order ~~Report~~(without exhibits) isare ~~contained~~attached inhereto ~~the~~as ~~attached~~Exhibits ~~Exhibit~~2.1 and 99.1, respectively, and is are incorporated herein by reference.

~~Limitation~~Summary onof ~~Incorporation~~the ~~by Reference~~Plan

InThe ~~accordance~~following ~~with~~is ~~General~~a summary ~~Instruction B.2~~ of ~~Form 8-K,~~ the ~~information~~material interms ~~this Item 7.01 is being furnished for informational purposes only and shall not be deemed “filed” for purposes~~ of ~~Section 18 of~~ the ~~Exchange Act~~Plan, oras ~~otherwise~~confirmed ~~subject~~by to the ~~liabilities~~Bankruptcy Court. ofThis ~~that~~summary ~~section,~~is ~~nor~~qualified ~~shall~~in ~~such~~its ~~information~~entirety ~~be deemed incorporated~~ by reference into ~~any filing under~~ the ~~Securities Act of 1933, as amended, except as otherwise expressly stated in such filing~~Plan. Capitalized ~~The~~terms ~~filing~~used ofbut ~~this~~not ~~Form~~defined ~~8-K~~herein shall ~~not~~have bethe ~~deemed~~meanings anset ~~admission~~forth in ~~as to~~ the ~~materiality of any information herein that is required to be disclosed solely by Regulation FD~~Plan.

~~Cautionary~~The ~~Statement~~Plan ~~Regarding~~is ~~Financial~~a modified plan of liquidation that provides for seven liquidating trusts to be established. Six of the trusts (the “Liquidating Trusts”) will liquidate and ~~Operating~~distribute ~~Data~~to creditors and equity holders most of the assets of the Debtors. The seventh trust (the “Advanta Trust”) will hold stock of reorganized Advanta Corp. (“Reorganized Advanta”). The Advanta Trust and the Liquidating Trusts are collectively referred to as, the “Trusts.” Reorganized Advanta will continue to own the stock of its Debtor-subsidiary, Advanta Service Corp. (“ASC”), and a non-Debtor subsidiary, Advanta Bank Holding Corp. (“ABHC”), along with some cash and a certain portion of the Company’s portfolio of business credit card receivables. Reorganized Advanta, ASC and ABHC will also each continue to own an interest in a certain credit card partnership – Fleet Credit Card Services, L.P. (the “Fleet Partnership Interests”), which may be impractical to liquidate due to its tax attributes. All other assets of the Company, ASC and ABHC will be transferred to the applicable Liquidating Trust.

The ~~financial~~Plan ~~statements~~treats all creditors and equity holders in accordance with their relative priorities under the ~~Monthly~~Bankruptcy ~~Operating~~Code. The ~~Report~~Plan ~~were~~provides ~~not~~for ~~audited~~the orholders ~~reviewed~~of byadministrative, priority, ~~independent~~and ~~accountants~~secured claims to receive cash in the full amount of their Allowed Claims. The holders of Allowed General Unsecured Claims against the Debtors and ~~were~~holders ~~not~~of ~~prepared~~Allowed Investment Note Claims, Allowed RediReserve Certificate Claims, and Allowed Subordinated Note Claims will receive beneficial interests in ~~accordance~~the ~~with~~Liquidating ~~accounting~~Trusts, ~~principles~~and ~~generally~~additionally, ~~accepted~~holders of Allowed General Unsecured Claims against the Consolidated Debtors and holders of Allowed Investment Note Claims, Allowed RediReserve Certificate Claims, and Allowed Subordinated Note Claims will receive beneficial interests in the Advanta ~~United~~Trust. The ~~States~~beneficial interests in the Trusts will entitle the holders thereof to receive their pro rata share of ~~America~~distributions from the Trusts, with a mechanism in place to give effect to certain pre-petition subordination arrangements that operate as between (~~GAAP~~and only as between) noteholders in Class 5 (Subordinated Note Claims against the Company) and Class 3 (Investment Note Claims and RediReserve Certificate Claims against the Company). Specifically, ~~The~~holders ~~Monthly~~of ~~Operating~~the Allowed ~~Report~~Subordinated ~~presents~~Note ~~condensed~~Claims ~~financial~~are ~~information~~subordinated to the holders of Allowed Investment Note Claims and Allowed RediReserve Certificate Claims, and the ~~Debtors~~Plan provides that holders of the Allowed Subordinated Notes Claims will not be entitled to keep any distributions until such time as holders of the Allowed Investment Note Claims and Allowed RediReserve Certificate Claims are paid in full. Holders of certain Claims subordinated under section 510 of the Bankruptcy Code will also receive junior beneficial interests in their respective Trusts, which will entitle the holders to distributions from such Trusts after all senior Allowed Claims have been paid in full. Holders of Equity Interests in the Company are not expected to receive any distribution and their Equity Interests will be extinguished because creditors of the Company are not expected to be paid in full.

~~There~~Immediately ~~can~~prior beto the noconfirmation ~~assurance~~of ~~that~~the Plan, ~~from~~ the ~~perspective~~Company ofhad an1,010 ~~investor~~shares orof aPreferred ~~potential~~Stock, 14,410,133 ~~investor~~shares inof ~~the~~Class A ~~Registrant’s~~Common ~~securities~~Stock and 27,801,715 ~~the~~shares ~~Monthly~~of Class B ~~Operating~~Common ~~Report~~Stock isissued ~~complete~~and outstanding. ~~The~~All ~~Monthly~~Equity ~~Operating~~Interests ~~Report~~of ~~may~~the Company be(including ~~subject~~all tooutstanding ~~future~~shares ~~adjustment~~of ~~and~~Preferred ~~reconciliation.~~Stock, ~~The~~Class A Common ~~Monthly~~Stock, ~~Operating~~Class B ~~Report~~Common ~~also~~Stock, ~~contains~~Class A ~~information~~Rights, ~~for~~Class B Rights, ~~periods~~options ~~which~~or ~~are~~contractual ~~shorter~~ or ~~otherwise~~other ~~different~~rights ~~from~~to ~~those~~acquire ~~required~~any inequity ~~periodic~~interests) will ~~reports~~be ~~pursuant~~cancelled toand ~~the~~extinguished ~~Securities~~on ~~Exchange~~the ~~Act~~Effective ofDate. ~~1934,~~Also ason ~~amended~~the (Effective Date, the ~~“Exchange~~Company ~~Act”),~~will reorganize and ~~such~~file ~~information~~an ~~might~~Amended ~~not~~and beRestated ~~indicative~~ Certificate of ~~the~~Incorporation ~~Registrant’s~~authorizing ~~financial~~100 ~~condition~~shares orof ~~operating~~Common ~~results~~Stock ~~for~~of ~~the~~Reorganized ~~period~~Advanta. On ~~that~~the ~~would~~Effective beDate, ~~reflected~~one inshare ~~the~~of ~~Registrant’s~~Common ~~financial~~Stock ~~statements~~of orReorganized inAdvanta ~~reports~~will ~~pursuant~~be issued to the ~~Exchange~~Advanta ~~Act.~~Trust, ~~The~~which ~~information~~shall ~~set~~be ~~forth in~~ the ~~Monthly~~sole ~~Operating~~holder ~~Report~~of ~~should~~Common ~~not~~Stock beof Reorganized ~~viewed~~Advanta as ~~indicative~~ of ~~future~~the ~~results~~Effective Date.

~~The~~Information ~~Monthly~~regarding the ~~Operating~~assets ~~Report~~ and ~~additional~~liabilities ~~information~~of ~~about~~ the ~~Debtors’~~Company ~~filings~~is ~~under~~included ~~chapter~~in 11the ofMonthly ~~title~~Operating Report 11for of the ~~United~~month ~~States~~ended ~~Bankruptcy~~December 31, ~~Code~~2010, ~~(the~~which ~~“Bankruptcy~~is ~~Code”),~~attached ~~including~~as Exhibit 99.1 ~~access~~ to ~~court~~the ~~documents~~Company’s ~~and~~Current ~~other~~Report ~~general~~on ~~information~~Form ~~about~~8-K filed with the ~~Chapter~~Securities 11and ~~Cases,~~Exchange ~~are~~Commission ~~available~~on ~~online~~January 28, at2011 ~~the~~and incorporated ~~Debtors’~~herein ~~case~~by ~~administration website located at http://www~~reference.~~advantareorg.com.~~

~~Cautionary Statement Regarding Forward-Looking Statements~~3

2Item 3.03. Material Modification to Rights of Security Holders

ofPursuant to the ~~Chapter 11~~Plan, all ~~Cases~~Equity inInterests ~~general; (v) the length~~ of ~~time~~ the ~~Debtors~~Company ~~will~~(including ~~operate~~all ~~under~~outstanding ~~the~~shares ~~Chapter~~of Preferred 11Stock, ~~Cases; (vi)~~Class ~~the~~A ~~increased~~Common ~~legal~~Stock, ~~and~~Class B ~~other~~Common ~~professional~~Stock, Class A ~~costs~~Rights, ~~related to the Chapter~~Class 11B ~~Cases~~Rights, ~~litigation~~options ~~and~~or ~~other~~contractual ~~legal~~or ~~proceedings;~~other rights ~~and (vii) the Debtors’ ability~~ to ~~maintain~~acquire ~~contracts~~any ~~with~~equity ~~suppliers~~interests) ~~and~~will ~~service~~be ~~providers~~cancelled and toextinguished ~~retain~~on the ~~key~~Effective ~~executives, managers and employees~~Date. ~~The~~In ~~cautionary~~addition, ~~statements~~the ~~provided~~Company ~~above~~intends ~~are being made pursuant~~ to ~~the~~file ~~provisions~~a ofForm 15 with the ~~Private~~ Securities ~~Litigation Reform Act of 1995 (the “Act”)~~ and ~~with~~Exchange ~~the~~Commission ~~intention~~to ofterminate ~~obtaining~~ the ~~benefits~~registration of its ~~the~~Class A ~~“safe~~Common ~~harbor”~~Stock ~~provisions~~and ofClass B ~~the~~Common ~~Act for any such forward-looking statements~~Stock. ~~Additional risks that may affect the Registrant~~The Company’s ~~future~~reporting ~~performance~~obligations ~~are~~under ~~detailed in~~ the ~~Registrant’s filings with the~~ Securities ~~and~~ Exchange ~~Commission,~~Act ~~including~~of ~~its~~1934 will ~~most~~subsequently ~~recent~~be ~~Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q~~suspended.

3Item 9.01. Financial Statements and Exhibits.

~~Item9.01. Financial Statements and~~ (d) Exhibits.

(d) Exhibits.



EXHIBIT
NUMBER		DESCRIPTION


2.1		Debtors Joint Plan Under Chapter 11 of the Bankruptcy Code, as confirmed by the Bankruptcy Court on February 11, 2011.

99.1		Confirmation Order.

Exhibit Number		Description
99.1		Advanta Corp. Monthly Operating Report for the period commencing December 1, 2010, and ending on December 31, 2010, filed with the United States Bankruptcy Court for the District of Delaware.

Cautionary Statement Regarding Forward-Looking Statements

4This 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 materially from those projected. The most significant among these risks and uncertainties are: (i) that one or more third parties appeal the Confirmation Order and object to the Plan; and (ii) that the Effective Date may be delayed.

~~SIGNATURES~~4

	ADVANTA CORP.
Date: January 28, 2011
	By:	/s/ Jay A. Dubow
		Jay A. Dubow, Chief Administrative Officer, Senior Vice President, Secretary and General Counsel

SIGNATURES

5Pursuant 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: February 16, 2011

By: /s/ Jay A. Dubow
Jay A. Dubow, Chief Administrative
Officer, Senior Vice President,
Secretary and General Counsel

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