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): June 28, 1995
________________________ADVANTA Corp.____________________________
(Exact name of registrant as specified in its charter)
_______Delaware__________ _____0-14120________ ______23-1462070__
(State or other jurisdic- (Commission File (IRS Employer Identi-
tion of incorporation) Number) fication No.)
Brandywine Corporate Center, 650 Naamans Road, Claymont, Delaware
(Address of principal executive offices)
19703
(Zip Code)
Registrant's telephone number, including area code: (302) 791-4400
<PAGE>
Form 8-K Advanta Corp.
Item 5. Other Events.
As reported in the Company's Annual Report on Form 10-K, the
Company currently conducts substantially all of its credit
card lending through Colonial National Bank USA ("Colonial
National"). Under Federal law, Colonial National may
"export" (i.e., charge its customers resident in other
states) the finance charges permissible under the law of its
state of domicile, Delaware, which state has no usury
statute applicable to banks. Consistent with prevailing
industry practice, Colonial National also exports credit
card fees (including, for example, annual fees, late
charges, NSF (returned check) charges and fees for exceeding
credit limits) permitted under Delaware law. Litigation
involving the legality of exporting such fees has been
initiated previously against many other credit card issuers
in several states. On June 28, 1995, a purported class
action lawsuit challenging Colonial National's right to
charge such fees to Pennsylvania residents was filed against
Colonial National in the Court of Common Pleas, Philadelphia
County, Pennsylvania (Margolies v. Colonial National Bank
USA). While the Company believes its exportation of such
fees from Delaware is permissible under the Federal banking
laws, the Company further believes that even in the event of
an adverse decision in this Pennsylvania litigation, any
resultant loss of fees, penalties or other sanctions would
not have a material adverse effect on the Company's
business. However, the Company cannot quantify what the
impact on its business might be if there were to be an
adverse determination of this exportation issue nationwide,
or in a number of the other states in which similar
litigation has been initiated against other credit card
issuers.
<PAGE>
Form 8-K Advanta Corp.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of l934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.
Advanta Corp.
By: /s/ Gene S. Schneyer
Gene S. Schneyer
Vice President,
Secretary and General Counsel
July 12, 1995
