Should have added this to my last post, while it may be obvious Advanta will still be earning finance charges on all that money they've lent out. It's not like all of their customers have reneged on the deals that they made when they used the Advanta credit cards. A million accounts, minus the thousands that have or will default is still a decent number of accounts with payments coming in every month and they won't be lending any more money out on top of it.

There's a very good reason why you don't see many credit card issuing banks actually going out of business. They are for the most part extremely profitable companies.