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EXHIBIT 12

                  ADVANTA CORP. AND SUBSIDIARIES
        COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

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                                                                THREE MONTHS ENDED                    NINE MONTHS ENDED
($ IN THOUSANDS)                                                   SEPTEMBER 30,                        SEPTEMBER 30,
                                                            ---------------------------          ---------------------------
                                                              2002               2001              2002                2001
                                                            -------             -------          -------            --------
<S>                                                         <C>                 <C>              <C>                <C>
Income (loss) from continuing operations                    $ 6,316             $ 2,270          $17,674            $(38,259)
Income tax expense (benefit)                                  3,954                   0           11,064             (16,880)
                                                            -------             -------          -------            --------
Earnings (loss) before income taxes (A)                      10,270               2,270           28,738             (55,139)
Fixed charges:
  Interest                                                   11,052              16,919           36,531              67,314
  One-third of all rentals                                      466                 494            1,389               1,299
  Preferred stock dividend of subsidiary
   trust                                                      2,248               2,248            6,743               6,743
                                                            -------             -------          -------            --------
  Total fixed charges                                        13,766              19,661           44,663              75,356
                                                            -------             -------          -------            --------
Earnings (loss) before income taxes and
  fixed charges                                             $24,036             $21,931          $73,401            $ 20,217
Ratio of earnings to fixed charges (B)                         1.75 x              1.12 x           1.64 x               N/M (C)
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(A)   Earnings (loss) before income taxes in the nine months ended September 30,
      2001 include $41.8 million of unusual charges. Unusual charges include
      severance, outplacement and other compensation costs associated with
      restructuring our corporate functions commensurate with the ongoing
      businesses as well as expenses associated with exited businesses and asset
      impairments.

(B)   For purposes of computing these ratios, "earnings" represent income from
      continuing operations before income taxes plus fixed charges. "Fixed
      charges" consist of interest expense, one-third (the portion deemed
      representative of the interest factor) of rental expense on operating
      leases, and preferred stock dividends of subsidiary trust.

(C)   The ratio calculated in the nine months ended September 30, 2001 is less
      than 1.00 and therefore, not meaningful. In order to achieve a ratio of
      1.00, earnings before income taxes and fixed charges would need to
      increase by $55,139 for the nine months ended September 30, 2001.