Advanta Customers' Credit Cut Off Early

Bloomberg News
June 2009
American Banker;6/2/2009, Vol. 174 Issue 104, p9
Trade Publication
The author reports that nearly one million customers had their credit cut off by Advanta Corp. The author states that Advanta cut off customers due to increases that the company experienced in its default rates. Predictions that have been made by Ken Paterson, an analyst at the company Mercator Advisory Group, regarding what will happen to Advanta's customers are presented.


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