<PAGE>
EXHIBIT 12

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

<TABLE>
<CAPTION>
                                                   THREE MONTHS ENDED                SIX MONTHS ENDED
($ IN THOUSANDS)                                         JUNE 30,                       JUNE 30,
                                                -----------------------         -----------------------
                                                  2002            2001            2002            2001
                                                -------        --------         -------        --------
<S>                                             <C>            <C>              <C>            <C>
Income (loss) from continuing operations        $ 7,124        $ (3,173)        $11,358        $(40,529)
Income tax expense (benefit)                      4,459               0           7,110         (16,880)
                                                -------        --------         -------        --------
Earnings (loss) before income taxes (A)          11,583          (3,173)         18,468         (57,409)
Fixed charges:
  Interest                                       12,369          26,119          25,479          50,395
  One-third of all rentals                          437             484             923             805
  Preferred stock dividend of subsidiary
   trust                                          2,248           2,248           4,495           4,495
                                                -------        --------         -------        --------
  Total fixed charges                            15,054          28,851          30,897          55,695
                                                -------        --------         -------        --------
Earnings (loss) before income taxes and
  fixed charges                                 $26,637        $ 25,678         $49,365        $ (1,714)
Ratio of earnings to fixed charges (B)             1.77 x           N/M (C)        1.60 x           N/M (C)
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(A)   Earnings (loss) before income taxes in the six months ended June 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 three and six months ended June 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 $3,173 for the three months ended June 30, 2001 and $57,409
      for the six months ended June 30, 2001.




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