8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 14, 2006

Advanta Corp.

(Exact name of registrant as specified in its charter)

Delaware	0-14120	23-1462070
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Welsh & McKean Roads, P.O. Box 844, Spring House, Pennsylvania	19477
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (215) 657-4000

(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 Instruction A.2. below):

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On June 14, 2006, Advanta Corp. (the “Company”) welcomed stockholders, directors and employees to its 2006 Annual Meeting of Stockholders. At the meeting, stockholders re-elected three incumbent directors: William A. Rosoff, Olaf Olafsson and Michael Stolper. The stockholders also ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2006. Stockholders attending the meeting also heard a presentation by management on the Company’s current business, including some recent highlights and future goals. A copy of the materials presented by management at the meeting is filed as Exhibit 99.1 to this Current Report on Form 8-K.

In addition to historical information, this Current Report on Form 8-K contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements are subject to various assumptions, risks and uncertainties which change over time, and speak only as of the date they are made. Forward-looking statements are often identified by words or phrases such as “is anticipated,” “are expected to,” “are estimated to be,” “intend to,” “believe,” “will likely result,” “projected,” “may,” or other similar words or phrases. We undertake no obligation to update any forward-looking information. However, any further disclosures made on related subjects in our subsequent reports filed with the SEC, including our Reports on Forms 10-K, 10-Q and 8-K, should be consulted. We caution readers that actual results may be materially different from those in the forward-looking information. Factors that may cause actual results to differ materially from current expectations include, but are not limited to:

(1)	factors affecting our net interest margin, including fluctuations in the volume of receivables and the range and timing of pricing offers to cardholders;
(2)	competitive pressures, including product development and pricing, among financial institutions;
(3)	political conditions, social conditions, monetary and fiscal policies and general economic and environmental conditions that affect the level of new account originations, customer spending, delinquencies and charge-offs;
(4)	factors affecting fluctuations in the number of accounts or receivable balances including the retention of cardholders after promotional pricing periods have expired;
(5)	interest rate fluctuations;
(6)	the level of expenses;
(7)	the timing of the securitization of our receivables;
(8)	the effects of government regulation, including restrictions and limitations imposed by banking laws, regulators, and examinations;

(9)	effect of, and changes in, tax laws, rates, regulations and policies;
(10)	effect of legal and regulatory developments, including changes in bankruptcy laws and regulations and the ultimate resolution of industry-related judicial proceedings relating to the legality of certain interchange rates;
(11)	relationships with customers, significant vendors and business partners;
(12)	difficulties or delays in the development, production, testing and marketing of products or services, including the ability and cost to obtain intellectual property rights or a failure to implement new products or services when anticipated;
(13)	the amount and cost of financing available to us;
(14)	the ratings on our debt and the debt of our subsidiaries;
(15)	the effects of changes in accounting policies or practices as may be required by changes in U.S. generally accepted accounting principles;
(16)	the impact of litigation, including judgments, settlements and actual or anticipated insurance recoveries for costs or judgments;
(17)	the proper design and operation of our disclosure controls and procedures; and
(18)	the ability to attract and retain key personnel.

The cautionary statements provided above are being made pursuant to the provisions of the Act and with the intention of obtaining the benefits of the “safe harbor” provisions of the Act for any such forward-looking information.

Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.

     (c)      Exhibits.

     99.1      Management’s Presentation to Stockholders at 2006 Annual Meeting.

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 hereunto duly authorized.

Advanta Corp.

(Registrant) 

Date: June 14, 2006

By:	/s/ Elizabeth Mai
	Elizabeth H. Mai
	Senior Vice President, Chief Administrative Officer, Secretary and General Counsel

Exhibit Index

Exhibit No.	Exhibit Name	Method of Filing
99.1	Management’s Presentation to Stockholders at 2006 Annual Meeting	Filed Herewith

EX-99.1

Exhibit 99.1

Forward Looking Statements This presentation contains forward-looking statements, including but not limited to projections of future earnings, that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Significant risks and uncertainties that may affect the Company's future performance are set forth in the Company's Quarterly Reports on Form 10-Q, Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

(1) Managed receivables are non-GAAP financial measures and represent the sum of owned (GAAP) business credit card receivables and securitized business credit card receivables. We believe that performance on a managed basis provides useful supplemental information to investors because we retain interests in the securitized receivables and, therefore, we have a financial interest in and exposure to the performance of the securitized receivables. 5 * 2006 information reflects guidance communicated in November 2005; we are not updating guidance today. Managed Receivables Detail

Credit card mail solicitations hit an all-time high last year, but response rates were lower than ever before.

2005 Direct Mail Volume by Issuer Chase Capital One American Express Citibank HSBC MBNA Washington Mutual Discover Bank of America 1809 1055 999 905 671 649 486 485 403 in millions

Business Cards Managed Receivables 2000 2001 2002 2003 2004 2005 2006 Guidance 1659 2043 2594 2982 3295 3760 4100 400 $1,659 $2,043 $2,594 $2,982 $3,295 $3,760 in millions; at year end 10% - 20% Growth Range 2006 information reflects guidance communicated in November 2005; we are not updating guidance today.

Business Cards Customers 2000 2001 2002 2003 2004 2005 2006 Estimate Total Customers 586 683 780 787 778 877 925 60 in thousands; at year end 925 - 985 Customers are defined as open accounts, and closed accounts with a balance; charged-off accounts are excluded.

Business Cards Issued 2000 2001 2002 2003 2004 2005 2006 Estimate Circulation 849 1020 1171 1354 1469 1732 1900 200 in thousands; at year end 1,900 - 2,100

Business Cards Transaction Volume 2000 2001 2002 2003 2004 2005 2006 Guidance Volume 3500 4400 5500 7000 8300 9800 11300 500 in millions 15% - 20% Growth Range 2006 information reflects guidance communicated in November 2005; we are not updating guidance today.

Advanta FTE 2000 2001 2002 2003 2004 2005 2006 Estimate FTE 2495 757 928 889 959 876 900 20 900 - 920 at year end

Business Cards Pretax Income 2000 2001 2002 2003 2004 2005 2006 Guidance pretax 45 64 63 56 75 89 120 5 in millions $120 - $125 2006 information reflects guidance communicated in November 2005; we are not updating guidance today.

Closing Stock Prices