WARNING: If you have an Advanta Credit Card - no charges will be authorized after June 10th!

[HopeHoops]

http://www.businesswire.com/portal/site/advanta/?ndmViewId=news_view&newsId=20090511006533&newsLang=en

The press release states that they aren't going to change the payment schedule, but they won't authorize any new payments after 10 June. If you have anything on auto-pay (I did) you need to update the payment information before then!!!

[I Have A Dream]

1. Kick. nt

[konnichi wa]

2. I may be dense this morning but that info doesn't seem to affect cardholders.

It seems to be referring to changes in their own debts and payments...(?)

[HopeHoops]

3. No, it means they won't honor charges against the accounts.

The accounts will all be frozen for purchases regardless of credit rating or payment history. They won't have the authority to extend the credit. As I read it, there will NOT be a change in the way you pay off the debt. You just can't use the card anymore.

[konnichi wa]

4. I see, I thought that link was talking about a -potential- situation.

This article says they don't have personal credit cards, only 'small business' ones. I admit I never heard of
them before today.
http://dealbook.blogs.nytimes.com/2009/05/12/advanta-plunges-as-it-moves-to-freeze-credit-cards/?ref=smallbusiness