-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SWJuaxiv62ViOAVcRVcAjB7fO4LIUxA3VsaNqMvCHHGyifPOfpgt0S+79VBw9z47 w5uAXRRjNB+zRTQEJPK8zg== 0000893220-05-000835.txt : 20050420 0000893220-05-000835.hdr.sgml : 20050420 20050420101839 ACCESSION NUMBER: 0000893220-05-000835 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050420 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050420 DATE AS OF CHANGE: 20050420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA BUSINESS RECEIVABLES CORP CENTRAL INDEX KEY: 0001107920 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-32874 FILM NUMBER: 05760833 BUSINESS ADDRESS: STREET 1: 639 ISBELL RD. STREET 2: SUITE 390 CITY: RENO STATE: NV ZIP: 89509 MAIL ADDRESS: STREET 1: 639 ISBELL RD STREET 2: STE 390 CITY: RENO STATE: NV ZIP: 89509 8-K 1 w04936be8vk.txt FORM 8-K ADVANTA BUSINESS RECEIVABLES CORP. DATED APRIL 20, 2005 - -------------------------------------------------------------------------------- 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) April 20, 2005 Advanta Business Receivables Corp., as Transferor on behalf of Advanta Business Card Master Trust (Exact Name of Registrant as Specified in Charter) Nevada 333-32874 23-2852207 - ---------------------------- ----------------- ---------------------------- (State or Other Jurisdiction (Commission File (IRS Employer of Incorporation) Number) Identification Number) Advanta Business Receivables Corp. ------------------------------------------------------------ (Exact Name of Registrant as Specified in Charter) Nevada 333-32874 23-2852207 - ---------------------------- ----------------- ---------------------------- (State or Other Jurisdiction (Commission File (IRS Employer of Incorporation) Number) Identification Number) 2215 B Renaissance Drive Suite 5 Las Vegas, Nevada 89119 - ------------------------------------------ ----------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (702) 966-4246 (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 (see General Instructions A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) - -------------------------------------------------------------------------------- Item 8.01. Other Events In accordance with the terms of the Series 2002-A Indenture Supplement, the beginning of the Series 2002-A the Controlled Accumulation Period was postponed. The Controlled Accumulation Period began at the close of business on March 31, 2005. In accordance with the terms of the Series 2003-C Indenture Supplement, the Series 2003-C Reserve Account Funding Date has been postponed as a result of the postponement of the beginning of the Controlled Accumulation Period for Series 2003-C. The Controlled Accumulation Period is expected to begin at the close of business on May 31, 2005 and the Reserve Account Funding Date is expected to begin on the April 2005 payment date. In accordance with the terms of the Series 2000-C Indenture Supplement, the Series 2000-C Reserve Account Funding Date has been postponed as a result of the postponement of the beginning of the Controlled Accumulation Period for Series 2000-C. The Controlled Accumulation Period is expected to begin at the close of business on July 31, 2005 and the Reserve Account Funding Date is expected to begin on the June 2005 payment date. In accordance with the terms of the Series 2003-A Indenture Supplement the Series 2003-A Reserve Account Funding Date has been postponed as a result of the postponement of the beginning of the Controlled Accumulation Period for Series 2003-A. The Controlled Accumulation Period is expected to begin at the close of business on November 30, 2005 and the Reserve Account Funding Date is expected to begin on the October 2005 payment date. Item 9.01. Financial Statements and Exhibits The following exhibit is furnished herewith: 21 Monthly Servicer's Certificate issued on April 20, 2005 for the monthly period of MARCH 1, 2005 through MARCH 31, 2005, relating to the Series 2000-C, 2001-A, 2002-A, 2003-A, 2003-B, 2003-C, 2003-D and AdvantaSeries Asset Backed Notes, prepared by the Servicer and sent to the Indenture Trustee pursuant to Article V of the Series 2000-C, 2001-A, 2002-A, 2003-A, 2003-B, 2003-C, 2003-D and AdvantaSeries Indenture Supplements dated as of November 1, 2000, April 1, 2001, July 1, 2002, February 1, 2003, June 1, 2003, August 1, 2003, December 1, 2003 and November 1, 2004 respectively. 3 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 thereunto duly authorized. ADVANTA BUSINESS CARD MASTER TRUST By: Advanta Bank Corp., as attorney-in-fact By: /s/ Michael Coco ---------------- Name: Michael Coco Title: Vice President and Treasurer ADVANTA BUSINESS RECEIVABLES CORP. By: /s/ Susan McVeigh ----------------- Name: Susan McVeigh Title: Vice President and Assistant Treasurer Dated: APRIL 20, 2005 4 Exhibit Index
Exhibit No. Page - ---------- ---- 21.1 Monthly Servicer's Certificate dated APRIL 20, 2005 prepared by the Servicer and sent to the Indenture Trustee pursuant to Article V of the Series 2000-C, 2001-A, 2002-A, 2003-A, 2003-B, 2003-C, 2003-D and AdvantaSeries Indentures Supplements covering the period of MARCH 1, 2005 through MARCH 31, 2005.
5 EX-21.1 2 w04936bexv21w1.txt MONTHLY SERVICER'S CERTIFICATE DATED APRIL 20, 2005 EXHIBIT 21.1 EXHIBIT C CLASS A CUSIP #00761HAD3 CLASS B CUSIP #00761HAE1 CLASS C CUSIP #00761HAF8 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2000-C PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2000-C Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder....... $ - ------------------ 2. The amount of distribution in respect to principal payment to the Class B Noteholder ...... $ - ------------------ 3. The amount of distribution in respect to principal payment to the Class C Noteholder ...... $ - ------------------ 4. The amount of distribution in respect to principal payment to the Class D Noteholder ...... $ - ------------------ II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest ..................... 2.58333 ------------------ 2. The amount of distribution in respect to the Class B Monthly Interest ..................... 2.95833 ------------------ 3. The amount of distribution in respect to the Class C Monthly Interest ..................... 3.58333 ------------------ 4. The amount of distribution in respect to the Class D Monthly Interest ..................... 5.70833 ------------------ III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder...................... 2.58333 ------------------ 2. The total amount of distribution in respect to the Class B Noteholder...................... 2.95833 ------------------ 3. The total amount of distribution in respect to the Class C Noteholder...................... 3.58333 ------------------ 4. The total amount of distribution in respect to the Class D Noteholder...................... 5.70833 ------------------ IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date ................................................. $ 733,046,508.73 ------------------ 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date ............................. $ 59,089,949.98 ------------------ 3. Recoveries for the preceding Monthly Period ................................................ $ 4,262,958.84 ------------------ 4. The Defaulted Amount for the preceding Monthly Period ...................................... $ 17,123,181.52 ------------------ 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period 4.80% ------------------ 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period ............................................................................. $ 3,178,965,891.72 ------------------ 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period.............................................................................. $ 3,135,065,818.29 ------------------ 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period................................................... $ 55,306,583.04 ------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period......................................................... $ 56,405,964.47 ------------------ 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period ............................................................. $ 2,519,750,000.00 ------------------ 11. The Transferor Interest as of the last day of the preceding Monthly Period ...................... $ 615,315,818.29 ------------------ 12. The transferor percentage as of the last day of the preceding Monthly Period .................... 19.63% ------------------ 13. The Required Transferor Percentage .............................................................. 6.00% ------------------ 14. The Required Transferor Interest ................................................................ $ 188,103,949.10 ------------------ 15. The monthly principal payment rate for the preceding Monthly Period ............................. 23.059% ------------------ 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period..... $ - ------------------
17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% $ 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% $ 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% $ 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% $ 18,539,996.18 (f) Delinquent 180 days or greater 0.000% $ - ----- --------------- (g) Aggregate 4.291% $136,946,710.65 ===== ===============
V. Information regarding Series 2000-C 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2000-C as of the last day of the related Monthly Period ......................... $ 400,000,000.00 ------------------ 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2000-C on the last day of the related Monthly Period .................. $ 400,000,000.00 ------------------ NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period......................... 1.0000 $ 320,000,000.00 ------------------ 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period......................... 1.0000 $ 38,000,000.00 ------------------ 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period......................... 1.0000 $ 28,000,000.00 ------------------ 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period......................... 1.0000 $ 14,000,000.00 ------------------ 7. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 12.5827081% ------------------ 8. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 N/A ------------------ 9. The amount of Investor Principal Collections applicable to Series 2000-C................ $ 92,237,102.43 ------------------ 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date .................................................... $ 5,339,480.32 ------------------ 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture. $ 2,106,454.56 ------------------ 11. The Investor Default Amount for the related Monthly Period ............................. $ 2,154,559.92 ------------------ 12. The Monthly Servicing Fee for the related Monthly Period ............................... $ 666,666.67 ------------------
13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period.................................... 22.33% ------------------ b. The default rate for the related Monthly Period.................................. 6.46% ------------------ c. The Net Portfolio Yield for the related Monthly Period .......................... 15.87% ------------------ d. The Base Rate for the related Monthly Period .................................... 5.36% ------------------ e. The Excess Spread Percentage for the related Monthly Period ..................... 10.51% ------------------ f. The Quarterly Excess Spread Percentage for the related Monthly Period ........... 9.62% ------------------ i) Excess Spread Percentage related to Mar-05 10.51% ------------------ ii) Excess Spread Percentage related to Feb-05 9.01% ------------------ iii) Excess Spread Percentage related to Jan-05 9.33% ------------------ 14. Floating Rate Determinations: LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 2.85000% ------------------ 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ........................................................... $ - ------------------ b. The Accumulation Shortfall with respect to the related Monthly Period ........... $ - ------------------ c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ................... $ - ------------------ 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)............................................................................ $ - ------------------ b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections......... $ - ------------------ c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections.................... $ - ------------------ 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ......... $ 7,000,000.00 ------------------ b. The Available Cash Collateral Account Amount on the related Payment Date ........ $ 7,000,000.00 ------------------ 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ..... $ - ------------------ b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date ..... $ - ------------------ 19. The Monthly Principal Reallocation Amount for the related Monthly Period ............... $ - ------------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAG6 CLASS B CUSIP #00761HAH4 CLASS C CUSIP #00761HAJ0 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2001-A PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2001-A Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder........ - -------------------- 2. The amount of distribution in respect to principal payment to the Class B Noteholder ....... - -------------------- 3. The amount of distribution in respect to principal payment to the Class C Noteholder ....... - -------------------- 4. The amount of distribution in respect to principal payment to the Class D Noteholder ....... - -------------------- II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest ...................... 2.62500 -------------------- 2. The amount of distribution in respect to the Class B Monthly Interest ...................... 3.08333 -------------------- 3. The amount of distribution in respect to the Class C Monthly Interest ...................... 3.66667 -------------------- 4. The amount of distribution in respect to the Class D Monthly Interest ...................... 6.54167 -------------------- III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder....................... 2.62500 -------------------- 2. The total amount of distribution in respect to the Class B Noteholder....................... 3.08333 -------------------- 3. The total amount of distribution in respect to the Class C Noteholder....................... 3.66667 -------------------- 4. The total amount of distribution in respect to the Class D Noteholder....................... 6.54167 -------------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date .................................................. $ 733,046,508.73 -------------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date .............................. $ 59,089,949.98 -------------------- 3. Recoveries for the preceding Monthly Period ................................................. $ 4,262,958.84 -------------------- 4. The Defaulted Amount for the preceding Monthly Period ....................................... $ 17,123,181.52 -------------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period................................................. 4.80% -------------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period .............................................................................. $ 3,178,965,891.72 -------------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period............................................................................... $ 3,135,065,818.29 -------------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period.................................................... $ 55,306,583.04 --------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period.......................................................... $ 56,405,964.47 -------------------- 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period ........................................................ $ 2,519,750,000.00 -------------------- 11. The Transferor Interest as of the last day of the preceding Monthly Period ................. $ 615,315,818.29 -------------------- 12. The transferor percentage as of the last day of the preceding Monthly Period ............... 19.63% -------------------- 13. The Required Transferor Percentage ......................................................... 6.00% -------------------- 14. The Required Transferor Interest ........................................................... $ 188,103,949.10 -------------------- 15. The monthly principal payment rate for the preceding Monthly Period ........................ 23.059% -------------------- 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period...................................................................................... $ - --------------------
17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% $ 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% $ 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% $ 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% $ 18,539,996.18 (f) Delinquent 180 days or greater 0.000% $ - ----- ---------------- (g) Aggregate 4.291% $ 136,946,710.65 ===== ================
V. Information regarding Series 2001-A 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2001-A as of the last day of the related Monthly Period......... $ 300,000,000.00 ---------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2001-A on the last day of the related Monthly Period... $ 300,000,000.00 ---------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period.................. 1.0000 $ 240,000,000.00 ---------------- 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period.................. 1.0000 $ 28,500,000.00 ---------------- 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period.................. 1.0000 $ 21,000,000.00 ---------------- 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period.................. 1.0000 $ 10,500,000.00 ---------------- 7. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 9.4370311% ---------------- 8. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 N/A ---------------- 9. The amount of Investor Principal Collections applicable to Series 2001-A......... $ 69,177,826.98 ---------------- 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date.............................................. $ 4,004,610.26 ---------------- 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture................................................................. $ 1,579,840.90 ---------------- 11. The Investor Default Amount for the related Monthly Period ...................... $ 1,615,919.97 ---------------- 12. The Monthly Servicing Fee for the related Monthly Period ....................... $ 500,000.00 ----------------
13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period.......................................... 22.33% -------------- b. The default rate for the related Monthly Period........................................ 6.46% -------------- c. The Net Portfolio Yield for the related Monthly Period ................................ 15.87% -------------- d. The Base Rate for the related Monthly Period .......................................... 5.45% -------------- e. The Excess Spread Percentage for the related Monthly Period ........................... 10.42% -------------- f. The Quarterly Excess Spread Percentage for the related Monthly Period ................. 9.53% -------------- i) Excess Spread Percentage related to Mar-05 10.42% -------------- ii) Excess Spread Percentage related to Feb-05 8.93% -------------- iii) Excess Spread Percentage related to Jan-05 9.23% -------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 2.85000% -------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ................................................................. $ - -------------- b. The Accumulation Shortfall with respect to the related Monthly Period ................. $ - -------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections.......................... $ - -------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)................ $ - -------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections.......................... $ - -------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections.......................... $ - -------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ............... $ 5,250,000.00 -------------- b. The Available Cash Collateral Account Amount on the related Payment Date .............. $ 5,250,000.00 -------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ........... $ - -------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date.................................................................... $ - -------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period .................. $ - --------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAK7 CLASS B CUSIP #00761HAL5 CLASS C CUSIP #00761HAM3 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2002-A PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2002-A Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder............ $ - ------------------ 2. The amount of distribution in respect to principal payment to the Class B Noteholder............ $ - ------------------ 3. The amount of distribution in respect to principal payment to the Class C Noteholder............ $ - ------------------ 4. The amount of distribution in respect to principal payment to the Class D Noteholder............ $ - ------------------ II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest........................... 2.54167 ------------------ 2. The amount of distribution in respect to the Class B Monthly Interest........................... 2.95833 ------------------ 3. The amount of distribution in respect to the Class C Monthly Interest........................... 3.83333 ------------------ 4. The amount of distribution in respect to the Class D Monthly Interest........................... 7.79167 ------------------ III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder........................... 2.54167 ------------------ 2. The total amount of distribution in respect to the Class B Noteholder........................... 2.95833 ------------------ 3. The total amount of distribution in respect to the Class C Noteholder........................... 3.83333 ------------------ 4. The total amount of distribution in respect to the Class D Noteholder........................... 7.79167 ------------------ IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date.............................................................. $ 733,046,508.73 ------------------ 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date.................................. $ 59,089,949.98 ------------------ 3. Recoveries for the preceding Monthly Period..................................................... $ 4,262,958.84 ------------------ 4. The Defaulted Amount for the preceding Monthly Period........................................... $ 17,123,181.52 ------------------ 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period.................................................... 4.80% ------------------ 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period.................................................................................. $ 3,178,965,891.72 ------------------ 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period.................................................................................. 3,135,065,818.29 ------------------ 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period....................................................... $ 55,306,583.04 ------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period............................................................. $ 56,405,964.47 ------------------ 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period........................................................ $ 2,519,750,000.00 ------------------ 11. The Transferor Interest as of the last day of the preceding Monthly Period...................... $ 615,315,818.29 ------------------ 12. The transferor percentage as of the last day of the preceding Monthly Period.................... 19.63% ------------------ 13. The Required Transferor Percentage.............................................................. 6.00% ------------------ 14. The Required Transferor Interest................................................................ $ 188,103,949.10 ------------------ 15. The monthly principal payment rate for the preceding Monthly Period............................. 23.059% ------------------ 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period.................................................................................. $ - ------------------ 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% $ 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% $ 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% $ 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% $ 18,539,996.18 (f) Delinquent 180 days or greater 0.000% $ - ----- ---------------- (g) Aggregate 4.291% $ 136,946,710.65 ===== ================
V. Information regarding Series 2002-A 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2002-A as of the last day of the related Monthly Period..................... $ 300,000,000.00 ---------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2002-A on the last day of the related Monthly Period........ $ 300,000,000.00 ---------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 240,000,000.00 ---------------- 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 27,750,000.00 ---------------- 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 21,750,000.00 ---------------- 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 10,500,000.00 ---------------- 7. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 9.4370311% ---------------- 8. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 N/A ---------------- 9. The amount of Investor Principal Collections applicable to Series 2002-A.............. $ 69,177,826.98 ---------------- 10a. The amount of the Investor Finance Charge Collections on deposit in the Collection Account on the Related Payment Date to be treated as Servicer Interchange............. $ 62,500.00 ---------------- 10b. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date................................................... $ 4,005,411.96 ---------------- 10c. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture.................................................................. $ 1,517,340.90 ---------------- 11. The Investor Default Amount for the related Monthly Period............................ $ 1,615,919.97 ----------------
12. The Monthly Servicing Fee for the related Monthly Period................................... $ 500,000.00 -------------- 13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period......................................... 22.34% -------------- b. The default rate for the related Monthly Period....................................... 6.46% -------------- c. The Net Portfolio Yield for the related Monthly Period................................ 15.88% -------------- d. The Base Rate for the related Monthly Period......................................... 5.43% -------------- e. The Excess Spread Percentage for the related Monthly Period.......................... 10.45% -------------- f. The Quarterly Excess Spread Percentage for the related Monthly Period................ 9.55% -------------- i) Excess Spread Percentage related to Mar-05 10.45% -------------- ii) Excess Spread Percentage related to Feb-05 8.95% -------------- iii)Excess Spread Percentage related to Jan-05 9.25% -------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 2.85000% -------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)................................................................................. $ - -------------- b. The Accumulation Shortfall with respect to the related Monthly Period................ $ - -------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ...................................... $ - -------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)........ $ 375,000.00 -------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections.............. $ - -------------- c. Interest earnings on the Reserve Account deposited the Collection Account to be treated as Available Finance Charge Collections....................................... $ 801.70 -------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date.............. 6,000,000.00 -------------- b. The Available Cash Collateral Account Amount on the related Payment Date............. $ 6,000,000.00 -------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period.......... $ - -------------- b. The aggregate amount of Investor Charge-Offs on the Payment Date..................... $ - -------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period................... $ - --------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAP6 CLASS B CUSIP #00761HAQ4 CLASS C CUSIP #00761HAR2 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-A PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-A Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder...... - ------------------ 2. The amount of distribution in respect to principal payment to the Class B Noteholder...... - ------------------ 3. The amount of distribution in respect to principal payment to the Class C Noteholder...... - ------------------ 4. The amount of distribution in respect to principal payment to the Class D Noteholder...... - ------------------ II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest..................... 2.70833 ------------------ 2. The amount of distribution in respect to the Class B Monthly Interest..................... 3.83333 ------------------ 3. The amount of distribution in respect to the Class C Monthly Interest..................... 5.29167 ------------------ 4. The amount of distribution in respect to the Class D Monthly Interest..................... 9.04167 ------------------ III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder..................... 2.70833 ------------------ 2. The total amount of distribution in respect to the Class B Noteholder..................... 3.83333 ------------------ 3. The total amount of distribution in respect to the Class C Noteholder..................... 5.29167 ------------------ 4. The total amount of distribution in respect to the Class D Noteholder..................... 9.04167 ------------------ IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period Preceding such Payment Date................................................ $ 733,046,508.73 ------------------ 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date............. $ 59,089,949.98 ------------------ 3. Recoveries for the preceding Monthly Period............................................... $ 4,262,958.84 ------------------ 4. The Defaulted Amount for the preceding Monthly Period..................................... $ 17,123,181.52 ------------------ 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period.............................. 4.80% ------------------ 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period.................................................................. $ 3,178,965,891.72 ------------------ 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period.................................................................. $ 3,135,065,818.29 ------------------ 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period................................................. $ 55,306,583.04 ------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period....................................................... $ 56,405,964.47 ------------------ 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period............................................................ $ 2,519,750,000.00 ------------------ 11. The Transferor Interest as of the last day of the preceding Monthly Period..................... $ 615,315,818.29 ------------------ 12. The transferor percentage as of the last day of the preceding Monthly Period................... 19.63% ------------------ 13. The Required Transferor Percentage............................................................. 6.00% ------------------ 14. The Required Transferor Interest............................................................... $ 188,103,949.10 ------------------ 15. The monthly principal payment rate for the preceding Monthly Period............................ 23.059% ------------------ 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period......................................................................................... $ - ------------------ 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance ----------- ---------------- (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% $ 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% $ 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% $ 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% $ 18,539,996.18 (f) Delinquent 180 days or greater 0.000% $ - ----- ---------------- (g) Aggregate 4.291% $ 136,946,710.65 ===== ================
V. Information regarding Series 2003-A 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-A as of the last day of the related Monthly Period.............. $ 400,000,000.00 ---------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-A on the last day of the related Monthly Period........ $ 400,000,000.00 ---------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 320,000,000.00 ---------------- 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 37,000,000.00 -------------- 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 29,000,000.00 ---------------- 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period....................... 1.0000 $ 14,000,000.00 ---------------- 7. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 12.5827081% ---------------- 8. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 N/A ---------------- 9. The amount of Investor Principal Collections applicable to Series 2003-A.............. $ 92,237,102.43 --------------- 10a. The amount of the Investor Finance Charge Collections on deposit in the Collection Account on the Related Payment Date to be treated as Servicer Interchange............. $ 83,333.33 ---------------- 10b. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date................................................... $ 5,339,480.32 ---------------- 10c. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture............................................................................. $ 2,023,121.23 ---------------- 11. The Investor Default Amount for the related Monthly Period............................ $ 2,154,559.92 ---------------- 12. The Monthly Servicing Fee for the related Monthly Period.............................. $ 666,666.67 ----------------
13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period............................ 22.33% ------------- b. The default rate for the related Monthly Period.......................... 6.46% ------------- c. The Net Portfolio Yield for the related Monthly Period .................. 15.87% ------------- d. The Base Rate for the related Monthly Period ............................ 5.87% ------------- e. The Excess Spread Percentage for the related Monthly Period.............. 10.00% ------------- f. The Quarterly Excess Spread Percentage for the related Monthly Period.... 9.11% ------------- i) Excess Spread Percentage related Mar-05 10.00% ------------- ii) Excess Spread Percentage related Feb-05 8.56% ------------- iii) Excess Spread Percentage related Jan-05 8.77% ------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 ....................................................................... 2.85000% ------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ........................................... $ - ------------- b. The Accumulation Shortfall with respect to the related Monthly Period ... $ - ------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ........... $ - ------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ................................................... $ - ------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ............................................................. $ - ------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ........... $ - ------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date .................................................................... 8,000,000.00 ------------- b. The Available Cash Collateral Account Amount on the related Payment Date .................................................................... $8,000,000.00 ------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period .................................................................. $ - ------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date .................................................................... $ - ------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period ................................................................. $ - -------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAT8 CLASS B CUSIP #00761HAU5 CLASS C CUSIP #00761HAV3 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-B PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-B Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder.............................................................. $ - --------------------- 2. The amount of distribution in respect to principal payment to the Class B Noteholder.............................................................. $ - --------------------- 3. The amount of distribution in respect to principal payment to the Class C Noteholder.............................................................. $ - --------------------- 4. The amount of distribution in respect to principal payment to the Class D Noteholder.............................................................. $ - --------------------- II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest..... 2.66667 --------------------- 2. The amount of distribution in respect to the Class B Monthly Interest..... 3.75000 --------------------- 3. The amount of distribution in respect to the Class C Monthly Interest..... 5.79167 --------------------- 4. The amount of distribution in respect to the Class D Monthly Interest..... 9.04167 --------------------- III.Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder ............................................................... 2.66667 --------------------- 2. The total amount of distribution in respect to the Class B Noteholder ............................................................... 3.75000 --------------------- 3. The total amount of distribution in respect to the Class C Noteholder .... 5.79167 --------------------- 4. The total amount of distribution in respect to the Class D Noteholder ............................................................... 9.04167 --------------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date ........... $ 733,046,508.73 --------------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date ............................................................. $ 59,089,949.98 --------------------- 3. Recoveries for the preceding Monthly Period .............................. $ 4,262,958.84 --------------------- 4. The Defaulted Amount for the preceding Monthly Period $ 17,123,181.52 --------------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period ................................................. 4.80% --------------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period .......................................... $ 3,178,965,891.72 --------------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period ................................... $ 3,135,065,818.29 --------------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period ................................................................... $ 55,306,583.04 --------------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period ............. $ 56,405,964.47 ---------------------
10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period .......... $ 2,519,750,000.00 --------------------- 11. The Transferor Interest as of the last day of the preceding Monthly Period .................................................................. $ 615,315,818.29 --------------------- 12. The transferor percentage as of the last day of the preceding Monthly Period .................................................................. 19.63% --------------------- 13. The Required Transferor Percentage ...................................... 6.00% --------------------- 14. The Required Transferor Interest $ 188,103,949.10 --------------------- 15. The monthly principal payment rate for the preceding Monthly Period ..... 23.059% --------------------- 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ................................................ $ - --------------------- 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% $ 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% $ 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% $ 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% $ 18,539,996.18 (f) Delinquent 180 days or greater 0.000% $ - ------ --------------- (g) Aggregate 4.291% $136,946,710.65 ====== ===============
V. Information regarding Series 2003-B 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-B as of the last day of the related Monthly Period ........................................................ $ 300,000,000.00 --------------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-B on the last day of the related Monthly Period ............................................... $ 300,000,000.00 NOTE FACTORS --------------------- 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period ........................................................ 1.0000 $ 240,000,000.00 --------------------- 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period ........................................................ 1.0000 $ 27,750,000.00 --------------------- 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period ........................................................ 1.0000 $ 21,750,000.00 --------------------- 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period ........................................................ 1.0000 $ 10,500,000.00 --------------------- 7. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 9.4370311% --------------------- 8. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 N/A --------------------- 9. The amount of Investor Principal Collections applicable to Series 2003-B ................................................................ $ 69,177,826.98 --------------------- 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date .................. $ 4,004,610.26 --------------------- 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture ............................. $ 1,579,840.90 --------------------- 11. The Investor Default Amount for the related Monthly Period ........... $ 1,615,919.97 --------------------- 12. The Monthly Servicing Fee for the related Monthly Period $ 500,000.00 --------------------- 13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ................... 22.33% --------------------- b. The default rate for the related Monthly Period ................. 6.46% --------------------- c. The Net Portfolio Yield for the related Monthly Period .......... 15.87% ---------------------
d. The Base Rate for the related Monthly Period ....................... 5.86% --------------------- e. The Excess Spread Percentage for the related Monthly Period ........ 10.01% --------------------- f. The Quarterly Excess Spread Percentage for the related Monthly Period ............................................................. 9.12% --------------------- i) Excess Spread Percentage related to Mar-05 10.01% --------------------- ii) Excess Spread Percentage related to Feb-05 8.56% --------------------- iii) Excess Spread Percentage related to Jan-05 8.78% --------------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 .............................................................. 2.85000% --------------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the and related Payment Date (after taking into consideration deposits withdraws for the related Payment Date) ................... $ - --------------------- b. The Accumulation Shortfall with respect to the related Monthly Period ............................................................. $ - --------------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ........................................................ $ - --------------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and for the related Payment Date) .......................................... $ - --------------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ......................................... $ - --------------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ........................................................ $ - --------------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ....................................................... $ 6,750,000.00 --------------------- b. The Available Cash Collateral Account Amount on the related Payment Date ....................................................... $ 6,750,000.00 --------------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ..................................................... $ - --------------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date $ - --------------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period .................................................................. $ - ---------------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A-1 CUSIP #00761HAW1 CLASS A-2 CUSIP #00761HAX9 CLASS B CUSIP #00761HAY7 CLASS C-1 CUSIP #00761HBA8 CLASS C-2 CUSIP #00761HBB6 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-C PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-C Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholders (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A-1 Noteholders........................................................... $ - ----------------- 2. The amount of distribution in respect to principal payment to the Class A-2 Noteholders............................................................ $ - ----------------- 3. The amount of distribution in respect to principal payment to the Class B Noteholders.............................................................. $ - ----------------- 4. The amount of distribution in respect to principal payment to the Class C-1 Noteholders............................................................ $ - ----------------- 5. The amount of distribution in respect to principal payment to the Class C-2 Noteholders............................................................ $ - ----------------- 6. The amount of distribution in respect to principal payment to the Class D Noteholders.............................................................. $ - ----------------- II. Information regarding the current monthly interest distribution to the Noteholders (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A-1 Monthly Interest.... $ 2.64973 ----------------- 2. The amount of distribution in respect to the Class A-2 Monthly Interest.... $ 2.56667 ----------------- 3. The amount of distribution in respect to the Class B Monthly Interest...... $ 3.62500 ----------------- 4. The amount of distribution in respect to the Class C-1 Monthly Interest.... $ 5.66667 ----------------- 5. The amount of distribution in respect to the Class C-2 Monthly Interest.... $ 4.95833 ----------------- 6. The amount of distribution in respect to the Class D Monthly Interest...... $ 8.20833 ----------------- III. Information regarding the total monthly distribution to the Noteholders (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A-1 Noteholders................................................................ $ 2.64973 ----------------- 2. The total amount of distribution in respect to the Class A-2 Noteholders................................................................ $ 2.56667 ----------------- 3. The total amount of distribution in respect to the Class B Noteholders................................................................ $ 3.62500 ----------------- 4. The total amount of distribution in respect to the Class C-1 Noteholders................................................................ $ 5.66667 ----------------- 5. The total amount of distribution in respect to the Class C-2 Noteholders................................................................ $ 4.95833 ----------------- 6. The total amount of distribution in respect to the Class D Noteholders................................................................ $ 8.20833 ----------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date............. $ 733,046,508.73 ----------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date............................................................... $ 59,089,949.98 ----------------- 3. Recoveries for the preceding Monthly Period................................ $ 4,262,958.84 ----------------- 4. The Defaulted Amount for the preceding Monthly Period...................... $ 17,123,181.52 ----------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period............................................................. 4.80% ----------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period............................................ 3,178,965,891.72 ----------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding....................................................... $3,135,065,818.29 ----------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period................. $ 55,306,583.04 ----------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period............... $ 56,405,964.47 ----------------- 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period............ $2,519,750,000.00 ----------------- 11. The Transferor Interest as of the last day of the preceding Monthly Period.................................................................... $ 615,315,818.29 -----------------
12. The transferor percentage as of the last day of the preceding Monthly Period ........... 19.63% ----------------- 13. The Required Transferor Percentage ..................................................... 6.00% ----------------- 14. The Required Transferor Interest ....................................................... $ 188,103,949.10 ----------------- 15. The monthly principal payment rate for the preceding Monthly Period .................... 23.059% ----------------- 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ......................................................................... $ - -----------------
17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance ----------- --------------- (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% $ 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% $ 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% $ 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% $ 18,539,996.18 (f) Delinquent 180 days or greater 0.000% $ - ----- --------------- (g) Aggregate 4.291% $136,946,710.65 ===== ===============
V. Information regarding Series 2003-C 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-C as of the last day of the related Monthly Period ........................................................................ $ 300,000,000.00 ----------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-C on the last day of the related Monthly Period ................................................................ $ 300,000,000.00 ----------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A-1 Note Principal Balance on the last day of the related Monthly Period .......................................................... 1.0000 $ 210,000,000.00 ----------------- 4. The amount of Principal Receivables in the Trust represented by the Class A-2 Note Principal Balance on the last day of the related Monthly Period .......................................................... 1.0000 $ 30,000,000.00 ----------------- 5. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period .......................................................... 1.0000 $ 27,750,000.00 ----------------- 6. The amount of Principal Receivables in the Trust represented by the Class C-1 Note Principal Balance on the last day of the related Monthly Period .......................................................... 1.0000 $ 10,000,000.00 ----------------- 7. The amount of Principal Receivables in the Trust represented by the Class C-2 Note Principal Balance on the last day of the related Monthly Period .......................................................... 1.0000 $ 11,750,000.00 ----------------- 8. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period .......................................................... 1.0000 $ 10,500,000.00 ----------------- 9. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 9.4370311% ----------------- 10. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 N/A ----------------- 11. The amount of Investor Principal Collections applicable to Series 2003-C .................................................................. .................. $ 69,177,826.98 ----------------- 12a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date ............................................. $ 4,004,610.26 ----------------- 12b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture ................................................... $ 1,579,840.90 ----------------- 13. The Investor Default Amount for the related Monthly Period ............................ $ 1,615,919.97 ----------------- 14. The Monthly Servicing Fee for the related Monthly Period .............................. $ 500,000.00 ----------------- 15. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ............................ 22.33% ----------------- b. The default rate for the related Monthly Period .......................... 6.46% ----------------- c. The Net Portfolio Yield for the related Monthly Period ................... 15.87% ----------------- d. The Base Rate for the related Monthly Period ............................. 5.74% ----------------- e. The Excess Spread Percentage for the related Monthly Period .............. 10.13% -----------------
f. The Quarterly Excess Spread Percentage for the related Monthly Period ............................................................ 9.23% ----------------- i) Excess Spread Percentage related to Mar-05 10.13% ----------------- ii) Excess Spread Percentage related to Feb-05 8.63% ----------------- iii) Excess Spread Percentage related to Jan-05 8.92% ----------------- 16. Floating Rate Determinations: Average Federal Funds Rate for the Interest Period from March 21, 2005 through and including April 19, 2005 2.77967% ----------------- LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 2.85000% -----------------
Federal Funds Rate in effect for each day during the interest period of March 21, 2005 through and including April 19, 2005 March 21 2.70% March 29 2.79% April 6 2.72% April 14 2.76% March 22 2.71% March 30 2.72% April 7 2.73% April 15 2.79% March 23 2.72% March 31 2.74% April 8 2.76% April 16 2.79% March 24 2.73% April 1 2.96% April 9 2.76% April 17 2.79% March 25 2.75% April 2 2.96% April 10 2.76% April 18 2.79% March 26 2.75% April 3 2.96% April 11 2.75% April 19 2.79% March 27 2.75% April 4 2.83% April 12 2.78% March 28 2.80% April 5 2.78% April 13 2.77%
17. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ............................................................. $ - ----------------- b. The Accumulation Shortfall with respect to the related Monthly Period ............................................................ $ - ----------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ............................................................... $ - ----------------- 18. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ...................... $ 375,000.00 ----------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ...................................... $ - ----------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ................................................ $ - ----------------- 19. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ...................................................... $ 6,750,000.00 ----------------- b. The Available Cash Collateral Account Amount on the related Payment Date ...................................................... $ 6,750,000.00 ----------------- 20. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period .................................................... $ - ----------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date ....................................................... $ - ----------------- 21. The Monthly Principal Reallocation Amount for the related Monthly Period ....................................................................... $ - -----------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HBC4 CLASS B CUSIP #00761HBD2 CLASS C CUSIP #00761HBE0 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-D PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-D Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder ...................................................................... $ - ----------------- 2. The amount of distribution in respect to principal payment to the Class B Noteholder ...................................................................... $ - ----------------- 3. The amount of distribution in respect to principal payment to the Class C Noteholder ...................................................................... $ - ----------------- 4. The amount of distribution in respect to principal payment to the Class D Noteholder ...................................................................... $ - ----------------- II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest ........... 2.60000 ----------------- 2. The amount of distribution in respect to the Class B Monthly Interest ........... 3.33333 ----------------- 3. The amount of distribution in respect to the Class C Monthly Interest ........................................................................ 4.79167 ----------------- 4. The amount of distribution in respect to the Class D Monthly Interest ........... 8.62500 ----------------- III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder ........... 2.60000 ----------------- 2. The total amount of distribution in respect to the Class B Noteholder ........... 3.33333 ----------------- 3. The total amount of distribution in respect to the Class C Noteholder ........... 4.79167 ----------------- 4. The total amount of distribution in respect to the Class D Noteholder ........... 8.62500 ----------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date .............................. $ 733,046,508.73 ----------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date ... $ 59,089,949.98 ----------------- 3. Recoveries for the preceding Monthly Period ..................................... $ 4,262,958.84 ----------------- 4. The Defaulted Amount for the preceding Monthly Period ........................... $ 17,123,181.52 ----------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period ......... 4.80% ----------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period ........................................................ $3,178,965,891.72 ----------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period ........................................................ $3,135,065,818.29 ----------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period ................................ $ 55,306,583.04 ----------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period .............................. $ 56,405,964.47 ----------------- 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period..................................... $2,519,750,000.00 -----------------
11. The Transferor Interest as of the last day of the preceding Monthly Period............................................................................................. $ 615,315,818.29 ---------------- 12. The transferor percentage as of the last day of the preceding Monthly Period............................................................................................. 19.63% ---------------- 13. The Required Transferor Percentage................................................................. 6.00% ---------------- 14. The Required Transferor Interest................................................................... $ 188,103,949.10 ---------------- 15. The monthly principal payment rate for the preceding Monthly Period................................ 23.059% ---------------- 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period........................................................................... $ - ---------------- 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% $ 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% $ 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% $ 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% $ 18,539,996.18 (f) Delinquent 180 days or greater 0.000% $ - ----- --------------- (g) Aggregate 4.291% $136,946,710.65 ===== ===============
V. Information regarding Series 2003-D 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-D as of the last day of the related Monthly Period............................................................................ $ 400,000,000.00 ---------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-D on the last day of the related Monthly Period............................................................................ $ 400,000,000.00 ---------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period.......... 1.0000 $ 320,000,000.00 ---------------- 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period.......... 1.0000 $ 37,000,000.00 ---------------- 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period.......... 1.0000 $ 29,000,000.00 ---------------- 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period ......... 1.0000 $ 14,000,000.00 ---------------- 7. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 12.5827081% ---------------- 8. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 N/A ---------------- 9. The amount of Investor Principal Collections applicable to Series 2003-D.................. $ 92,237,102.43 ---------------- 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date........................................... $ 5,339,480.32 ---------------- 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture............................................... $ 2,106,454.56 ---------------- 11. The Investor Default Amount for the related Monthly Period............................... $ 2,154,559.92 ---------------- 12. The Monthly Servicing Fee for the related Monthly Period................................. $ 666,666.67 ---------------- 13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period................................... 22.33% ---------------- b. The default rate for the related Monthly Period................................. 6.46% ---------------- c. The Net Portfolio Yield for the related Monthly Period.......................... 15.87% ---------------- d. The Base Rate for the related Monthly Period................................... 5.65% ---------------- e. The Excess Spread Percentage for the related Monthly Period.................... 10.22% ----------------
f. The Quarterly Excess Spread Percentage for the related Monthly Period............ 9.33% ---------------- i) Excess Spread Percentage related to Mar-05 10.22% ---------------- ii) Excess Spread Percentage related to Feb-05 8.76% ---------------- iii) Excess Spread Percentage related to Jan-05 9.02% ---------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 2.85000% ---------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)..................................................... $ - ---------------- b. The Accumulation Shortfall with respect to the related Monthly Period............. ---------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections..................... $ - ---------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)............................................................. $ - ---------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections....................................................................... $ - ---------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections..................... $ - ---------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date........... $ 9,000,000.00 ---------------- b. The Available Cash Collateral Account Amount on the related Payment Date.......... $ 9,000,000.00 ---------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period....... $ - ---------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date............................................................... $ - ---------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period................. $ - ----------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST ADVANTASERIES PERIOD ENDING MARCH 31, 2005 The information which is required to be prepared with respect to the Payment Date of April 20, 2005 and with respect to the performance of the Trust during the period of March 1, 2005 through March 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture as supplemented by the AdvantaSeries Indenture Supplement, the Transfer and Servicing Agreement or the Trust Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the AdvantaSeries Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholders
Total amount of principal CUSIP Number to be paid Per $1,000 ------------ -------------------------- ---------- NOTHING TO REPORT
II. Information regarding the current monthly interest distribution to the Noteholders
Total amount of principal CUSIP Number to be paid Per $1,000 ------------ -------------------------- ---------- 2004-C1 00761H BG 5 325,000.00 3.25000 2004-D1 65,416.67 6.54167
III. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date $ 733,046,508.73 ------------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date $ 59,089,949.98 ------------------- 3. Recoveries for the Monthly Period preceding such Payment Date $ 4,262,958.84 ------------------- 4. The Defaulted Amount for the Monthly Period preceding such Payment Date $ 17,123,181.52 ------------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period 4.80% ------------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period $ 3,178,965,891.72 ------------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period $ 3,135,065,818.29 ------------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period $ 55,306,583.04 ------------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period $ 56,405,964.47 ------------------- 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period $ 2,519,750,000.00 ------------------- 11. The Transferor Interest as of the end of the Monthly Period preceding such Payment Date $ 615,315,818.29 ------------------- 12. The transferor percentage as of the end of the Monthly Period preceding such Payment Date 19.63% ------------------- 13. The Required Transferor Percentage 6.00% ------------------- 14. The Required Transferor Interest $ 188,103,949.10 ------------------- 15. The monthly principal payment rate for the Monthly Period preceding such Payment Date 23.059% ------------------- 16. The balance in the Excess Funding Account as of the end of the Monthly Period preceding such Payment Date $ - -------------------
17. The aggregate outstanding balance of the Accounts which were delinquent as of the end of the Monthly Period preceding such Payment Date:
Percentage of Total Aggregate Account Receivables Balance ------------------- ------------------- (a) Delinquent between 30 days and 59 days 1.184% $ 37,796,430.52 (b) Delinquent between 60 days and 89 days 1.106% 35,300,540.21 (c) Delinquent between 90 days and 119 days 0.806% 25,711,914.12 (d) Delinquent between 120 days and 149 days 0.614% 19,597,829.62 (e) Delinquent between 150 days and 179 days 0.581% 18,539,996.18 (f) Delinquent 180 days or greater 0.000% - ----- ---------------- (g) Aggregate 4.291% $ 136,946,710.65 ===== ================
IV. Information regarding the AdvantaSeries 1. AdvantaSeries balances and amounts as of the end of the Monthly Period preceding such Payment Date
Initial Principal Outstanding Principal Adjusted Outstanding Invested Adjusted Invested Balance Balance Principal Balance Amount Amount ----------------- --------------------- -------------------- ---------------- ----------------- 2004-C1 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 ---------------- ---------------- ---------------- ---------------- ---------------- Total Class C $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 2004-D1 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 ---------------- ---------------- ---------------- ---------------- ---------------- Total Class D $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 ---------------- ---------------- ---------------- ---------------- ---------------- Total AdvantaSeries $ 110,000,000.00 $ 110,000,000.00 $ 110,000,000.00 $ 110,000,000.00 $ 110,000,000.00 ================ ================ ================ ================ ================
2. Weighted Average Floating Allocation Amount for the related Monthly Period $ 110,000,000.00 ------------------ 3. The Floating Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 3.4602447% ------------------ 4. The Fixed Investor Percentage with respect to the period: March 1, 2005 through March 31, 2005 3.4602447% ------------------ 5. The amount of Investor Principal Collections applicable to the AdvantaSeries $ 25,365,202.92 ------------------ 6a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date $ 1,468,357.06 ------------------ 6b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on related Payment Date pursuant to Section 8.04(a) of the Master Indenture $ 579,275.05 ------------------ 7. The AdvantaSeries Defaulted Amount for the related Monthly Period $ 592,503.97 ------------------ 8. The AdvantaSeries Monthly Servicing Fee for the related Monthly Period $ 183,333.33 ------------------ 9. AdvantaSeries performance for the related Monthly Period a. The cash yield for the related Monthly Period 22.33% ------------------ b. The default rate for the related Monthly Period 6.46% ------------------ c. The Net Portfolio Yield for the related Monthly Period 15.87% ------------------ d. The Base Rate for the related Monthly Period 6.26% ------------------ e. The Excess Spread Percentage for the related Monthly Period 9.61% ------------------ f. The Quarterly Excess Spread Percentage 8.71% ------------------ g. The Excess Spread Amount for the related Monthly Period $ 881,378.14 ------------------ h. The average Excess Spread Amount for the three preceding Monthly Periods $ 799,445.40 ------------------
10. Floating interest rate determinations: LIBOR for the Interest Period from March 21, 2005 through and including April 19, 2005 2.85000% ------------------
11. Required interest payments
Required interest Interest shortfalls Amounts withdrawn from amounts with respect to and additional the Collection Account the current Interest interest from prior for payment of required Unpaid required Period Periods interest amounts interest amounts ----------------------- -------------------- -------------------------- ---------------- 2004-C1 $ 325,000.00 $ - $ 325,000.00 $ - ------------ ------- ------------ ----- Total Class C $ 325,000.00 $ - $ 325,000.00 $ - 2004-D1 $ 65,416.67 $ - $ 65,416.67 $ - ------------ ------- ------------ ----- Total Class D $ 65,416.67 $ - $ 65,416.67 $ - ------------ ------- ------------ ----- Total Advanta Series $ 390,416.67 $ - $ 390,416.67 $ - ============ ======= ============ =====
12. Principal Funding Account
Beginning Required Principal Actual Deposit Principal Funding Amount Withdrawn Withdrawals Ending Principal Funding Deposit Amount to to the Principal Sub-Account Amount for Payment of Coverage Principal Funding Sub-Account the Principal Funding Funding prior to of Principal to Funding Excess Sub-Account Amount Sub-Account Sub-Account Withdrawals Noteholders Amount Amount ----------------- --------------------- ---------------- ------------------ ----------------- -------------- ----------------- NOTHING TO REPORT 13. Coverage Funding Required Amounts a. Coverage Funding Amount as of the end of the related Monthly Period $ - -------------- b. The Coverage Funding Amount for the Class A Notes as of the end of the related Monthly Period $ - -------------- c. The Coverage Funding Amount for the Class B Notes as of the end of the related Monthly Period $ - -------------- d. The Coverage Funding Amount for the Class C Notes as of the end of the related Monthly Period $ - -------------- 14. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date $ 2,475,000.00 -------------- b. The Available Cash Collateral Account Amount on the related Payment Date $ 2,475,000.00 -------------- c. Has a Portfolio Decline Event occurred with respect to the Monthly Period preceding such Payment Date NO -------------- 15. Spread Account a. The Required Spread Account Amount on the related Payment Date $ - -------------- b. The amount on deposit in the Spread Account on the related Payment Date $ - -------------- 16. Required Subordinated Amounts as of the end of the Monthly Period preceding such Payment Date
Required Excess of Subordinated Required subordination Subordinated Notes over Required percentage Amount Subordinated Notes Subordinated Amount ----------------------- ------------- ------------------ ---------------------- Class A 21.5805% $ - $ 110,000,000.00 $ 110,000,000.00 Class B 8.9918% - 110,000,000.00 110,000,000.00 Class C 3.6269% 3,626,900.00 10,000,000.00 6,373,100.00
17. Adjusted Invested Amount
Increase from the Initial Principal withdrawal of the Reduction due to Balances and any Coverage Funding Increase from reallocation of increases from the Excess Amount from reimbursements of Available Principal Beginning Adjusted issuance of any the Principal Funding Adjusted Invested Collection and Invested Amount additional Notes Sub-Account Amount Deficit Investor Charge-Offs ------------------ ------------------- --------------------- ------------------ ---------------------- 2004-C1 $ 100,000,000.00 $ - $ - $ - $ - ---------------- ------ ------ ------ ------ Total Class C $ 100,000,000.00 $ - $ - $ - $ - 2004-D1 $ 10,000,000.00 $ - $ - $ - $ - ---------------- ------ ------ ------ ------ Total Class D $ 10,000,000.00 $ - $ - $ - $ - ---------------- ------ ------ ------ ------ Total AdvantaSeries $ 110,000,000.00 $ - $ - $ - $ - ================ ====== ====== ====== ====== Reduction due to amounts deposited into the Principal Funding Sub- Ending Adjusted Invested Account Amount --------------------- ------------------------ 2004-C1 $ - $ 100,000,000.00 ------ ---------------- Total Class C $ - $ 100,000,000.00 2004-D1 $ - $ 10,000,000.00 ------ ---------------- Total Class D $ - $ 10,000,000.00 ------ ---------------- Total AdvantaSeries $ - $ 110,000,000.00 ====== ================
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO ------------------------------ Name: Michael Coco Title: Vice President and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----