UNITED STATES SECURITIES AND EXCHANGE COMMISSION

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 ~~Securities~~event ~~Exchange~~reported): ~~Act~~February of28, ~~1934~~2011

~~Date~~Advanta ~~of Report (Date of earliest event reported): February 25, 2011~~Corp.

~~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.)

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

£ 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))

~~£ Soliciting~~Item 1.03 ~~material~~Bankruptcy ~~pursuant~~or ~~to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)~~Receivership

~~£ Pre-commencement~~As ~~communications~~previously ~~pursuant~~disclosed, toAdvanta ~~Rule~~Corp. ~~14d-2~~(bthe “Company”) and certain of its subsidiaries (collectively, 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 ~~240~~Code”) in the United States Bankruptcy Court for the State of Delaware (the “Bankruptcy Court”), Case No.~~14d~~ 09-213931 (bKJC) (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.

~~£ Pre-commencement~~Also ~~communications~~as ~~pursuant~~previously todisclosed, ~~Rule~~on ~~13e-4~~February 11, 2011, the Bankruptcy Court entered an order (cthe “Confirmation Order”) ~~under~~confirming the ~~Exchange~~Debtors’ ~~Act~~Joint Plan Under Chapter 11 of the United States Bankruptcy Code (17as ~~CFR~~modified, ~~240~~the “Plan”).~~13e-4~~ On February 28, 2011 (cthe “Effective Date”), the Plan became effective and on March 1, 2011 a notice of Effective Date of the Plan (the “Notice of Effective Date”) was filed with the Bankruptcy Court. A copy of the Notice of Effective Date is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Capitalized terms used but not defined herein shall have the meanings set forth in the Plan.

~~Item7~~As a result of the Plan becoming effective, all Equity Interests of the Company (including all outstanding shares of Preferred Stock, Class A Common Stock, Class B Common Stock, Class A Rights, Class B Rights, options or contractual or other rights to acquire any equity interests) were cancelled and extinguished on the Effective Date.01 Under the Plan, holders of Equity Interests in the Company will not be entitled to, and will not receive or retain, any property or interest in property in exchange for such cancelled equity interests. ~~Regulation~~Also FDon ~~Disclosure~~the Effective Date, the Company was reorganized and filed an Amended and Restated Certificate of Incorporation authorizing 100 shares of Common Stock (as defined under the Amended and Restated Certificate of Incorporation) of Reorganized Advanta. On the Effective Date, one share of Common Stock of Reorganized Advanta (defined as “Trustee Stock,” under the Plan) was issued to the Advanta Trust, which is the sole holder of Common Stock of Reorganized Advanta as of the Effective Date.

~~On February 25, 2011, Advanta Corp~~Item 3. (the “Registrant”) and certain of its subsidiaries (together with the Registrant, the “Debtors”) filed their unaudited monthly operating report for the period commencing January 1, 2011, and ending January 31, 2011 (the “Monthly Operating Report”), with the United States Bankruptcy Court for the State of Delaware (the “Bankruptcy Court”) Case No03. ~~09-13931~~Material ~~(KJC)~~Modification ~~(the~~to ~~“Chapter~~Rights ~~11 Cases”). A copy~~ of ~~the~~Security ~~Monthly Operating Report is contained in the attached Exhibit 99.1 and is incorporated herein by reference.~~Holders

~~Limitation~~Pursuant to the Plan, all Equity Interests of the Company (including all outstanding shares of Preferred Stock, Class A Common Stock, Class B Common Stock, Class A Rights, Class B Rights, options or contractual or other rights to acquire any Equity Interests) were cancelled and extinguished on ~~Incorporation~~the byEffective ~~Reference~~Date. Under the Plan, holders of Equity Interests in the Company will not be entitled to, and will not receive or retain, any property or interest in property in exchange for such cancelled Equity Interests. In addition, the Company intends to file a Form 15 with the Securities and Exchange Commission to terminate the registration of its Class A Common Stock and Class B Common Stock. Thereafter, the Company’s reporting obligations under the Securities Exchange Act of 1934 will be suspended.

~~In accordance with General Instruction B.2 of Form 8-K, the information in this~~ Item 7 5.0102 isDeparture ~~being furnished for informational purposes only and shall not be deemed “filed” for purposes~~ of ~~Section~~Directors ~~18 of the Exchange Act,~~ or ~~otherwise~~Principal ~~subject~~Officers; toElection ~~the liabilities~~ of ~~that~~Directors; ~~section,~~Appointment ~~nor shall such information be deemed incorporated by reference in any filing under the Securities Act~~ of Principal ~~1933,~~Officers; asCompensatory ~~amended,~~Arrangements ~~except as otherwise expressly stated in such filing. The filing~~ of ~~this~~Certain ~~Form 8-K shall not be deemed an admission as to the materiality of any information herein that is required to be disclosed solely by Regulation FD~~Officers.

~~Cautionary~~(a) As ~~Statement~~of ~~Regarding~~the ~~Financial~~close of business on the Effective Date, and ~~Operating~~as ~~Data~~contemplated by the Plan, Messrs. Dennis Alter, Max Botel, Thomas Costello, Ronald Lubner, William A. Rosoff and Michael Stolper, and Ms. Dana Becker Dunn ceased to be directors of the Company. In addition, Messrs. Botel, Costello and Stolper ceased to be members of the Audit Committee of the Board of Directors.

~~The~~(b) As ~~Registrant cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose~~ of ~~providing~~ the ~~basis~~close ~~for an investment decision relating to any~~ of ~~the~~business ~~securities~~on of the ~~Registrant.~~Effective ~~The~~Date, ~~Monthly Operating Report has been prepared solely for~~ the ~~purpose~~Company’s ofexecutive ~~complying with the operating guidelines as described in the Chapter 11 Trustee Handbook~~officers, ~~United~~Messrs. Dennis ~~States Department of Justice~~Alter, ~~May~~William ~~2004~~A. inRosoff ~~accordance~~and ~~with~~Philip ~~28 U~~M.~~S.C.~~ §Browne ~~586(a)(3).~~ceased ~~The~~to ~~Monthly~~be ~~Operating~~employees ~~Report is limited in scope~~ and ~~only~~officers ~~covers~~of ~~a limited time period~~the Company.

~~The~~(c) Upon ~~financial~~completion ~~statements~~of in the ~~Monthly~~changes noted ~~Operating~~in ~~Report were not audited or reviewed by independent accountants~~ (a) and ~~were~~(b) ~~not~~on ~~prepared in accordance with accounting principles generally accepted in~~ the ~~United~~Effective ~~States~~Date, ofMr. William ~~America (GAAP)~~J. ~~The~~Nolan ~~Monthly~~became ~~Operating~~the ~~Report~~sole director ~~presents condensed financial information~~ of ~~the~~Reorganized ~~Debtors~~Advanta.

~~There~~(d) Immediately ~~can~~after ~~be no assurance that, from the perspective of an investor or a potential investor in the Registrant~~Mr. Nolan’s ~~securities,~~appointment ~~the~~as ~~Monthly~~sole ~~Operating~~director, ~~Report is complete~~Mr. Andrew ~~The~~Scruton ~~Monthly~~was ~~Operating~~appointed Report may be subject to future adjustment and reconciliation. The Monthly Operating Report also contains information for periods which are shorter or otherwise different from those required in periodic reports pursuant to the Securities Exchange Act of 1934, as President ~~amended (the “Exchange Act”),~~ and ~~such~~Secretary ~~information might not be indicative~~ of ~~the~~Reorganized ~~Registrant’s financial condition or operating results for the period that would be reflected in the Registrant’s financial statements or in reports pursuant to the Exchange Act~~Advanta. ~~The information set forth in the Monthly Operating Report should not be viewed as indicative of future results.~~

~~The~~Item 5.03 ~~Monthly~~Amendments ~~Operating~~to ~~Report~~Articles ~~and additional information about the Debtors’ filings under chapter 11~~ of ~~title~~Incorporation 11or ofBylaws; ~~the~~Changes ~~United~~in ~~States~~Fiscal Bankruptcy Code (the “Bankruptcy Code”), including access to court documents and other general information about the Chapter 11 Cases, are available online at the Debtors’ case administration website located at http://www.advantareorg.com.Year

~~Cautionary~~On ~~Statement~~February 28, ~~Regarding~~2011, ~~Forward-Looking~~the ~~Statements~~Company filed an Amended and Restated Certificate of Incorporation of the Company with the Secretary of State of the State of Delaware to effect certain changes to the structure of the Company as contemplated by the Plan. The Company also adopted Amended and Restated Bylaws of the Company to implement changes to the governance of the Company as contemplated by the Plan. Copies of the Amended and Restated Articles of Incorporation and the Amended and Restated Bylaws of the Company are attached as Exhibits 3.1 and 3.2 and are incorporated herein by reference.

~~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 materially from those projected~~Item 9.01. ~~The~~Financial ~~most~~Statements ~~significant among these risks~~ and uncertainties are: (i) that one or more third parties appeal the Confirmation Order entered by the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) confirming the Debtors’ Joint Plan Under Chapter 11 of the United States Bankruptcy Code (as modified, the “Plan”); (ii) that the Effective Date for the Plan may be delayed; (iii) the ability of the trustees to execute and implement a confirmed plan in a cost-effective and timely manner; (iv) the Bankruptcy Court’s rulings in the Chapter 11 Cases and the outcome of the Chapter 11 Cases in general; (v) the length of time the Debtors will operate under the Chapter 11 Cases; and (vi) the increased legal and other professional costs related to the Chapter 11 Cases, litigation and other legal proceedingsExhibits. ~~The cautionary statements provided above are being made pursuant to the provisions of the~~

Private Securities Litigation Reform Act of 1995 (the “Act”) and with the intention of obtaining the benefits of the “safe harbor” provisions of the Act for any such forward-looking statements. Additional risks that may affect the Registrant’s future performance are detailed in the Registrant’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

(d) Exhibits.

Exhibit Number		Description
EXHIBIT
99.1		Advanta Corp. Monthly Operating Report for the period commencing January 1, 2011, and ending on January 31, 2011, filed with the United States Bankruptcy Court for the District of Delaware.
NUMBER		DESCRIPTION
3.1		Amended and Restated Articles of Incorporation of Advanta Corp.
3.2		Amended and Restated Bylaws of Advanta Corp.
99.1		Notice of Effective Date of the Plan.

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.
	Advanta Corp.
Date: February 25, 2011
	(Registrant)
	By:	/s/ Jay A. Dubow
Date: March 2, 2011	By:	/s/ Andrew Scruton
		Jay A. Dubow, Chief Administrative Officer, Senior Vice President, Secretary and General Counsel
		Andrew Scruton, President and
		Secretary

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