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All Advanta Bank credit card accounts will be closed in four days, the card issuer for small business told its customers Tuesday.Cardholders received e-mails from the bank notifying them that they would not be able to make new transactions as of Saturday. Those who carry a balance will be allowed to continue paying down that balance over time.
The bank issued a public announcement on May 11 that it would shut down credit card accounts on June 10, but did not communicate that directly to cardholders until this week. Why Advanta has chosen an earlier closure date is unclear. Bank representatives could not be reached for comment Tuesday.