Advanta Closes all Credit Cards, 529 Plans, and More!

Posted by Madison on May 28, 2009

Advanta, which is one of my favorite credit card companies for small business cards, is closing their doors on Saturday, May 30. We got a letter in the mail two days ago. Talk about a quick exit!

I know many of you got an Advanta card for 0% Balance Transfers in the past. The good news is that your balance transfer should remain in place with the original terms and you will not need to pay it off immediately.

Of course, now it’s time to find a replacement card if the Advanta card was a favorite of yours. I’m going to spend some time in the next few weeks checking out the business credit cards available right now. There are some other personal cards I want too, so I’ll be planning a day to apply for all of them soon.

Announcements

529 Bonus Deadline. Just a reminder that the deadline for the Ohio 529 College Advantage $25 Sign Up Bonus is May 31, 2009.

Guest Posts. You still have one week to get your guest post entries in for your chance to win Amazon gift cards (and be considered for a writer position, if you choose). I haven’t received many entries so far, so your odds are pretty good!

What Caught My Eye

Your Average Income. Friends’ Influence and Money: A Two Way Street was an intriguing read this week. Lazy reviewed the book You’re Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead, which evaluates the theory that “your income is typically the average of your five closest friends.” Really? Is it?

Turning 30. Since this is my last week as a 20-something, I followed the discussion about how much you should have by age 30 closely (both at Bogleheads and on My Money Blog. The latter also features some savings ratios at various ages to see where you fall.

Investing

By the Numbers

And More!





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Comments to Advanta Closes all Credit Cards, 529 Plans, and More!

  1. I know! After taking your advice I got the Advanta business card and I got the letter also. I will be interested to hear what you find out about a replacement. Thanks for such a great blog!

    Tyler

  2. It totally freaked me out when i heard this news since i too was part of the 0% offer and thankfulyl the terms still apply for my transfer.

    Addison

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