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  **UNITED STATES SECURITIES AND EXCHANGE COMMISSION****Washington, D.C. 20549****FORM 10-K**(Mark One)   þ **ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934****For the fiscal year ended December 31, 2005****or**   o **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934****For the transition period from                     to                     ****Commissionfile number 333-81788****ADVANTABUSINESS RECEIVABLES CORP., AS TRANSFEROR****on behalf of****ADVANTA BUSINESS CARD MASTER TRUST**(Exact name of registrant as specified in its charter)   Nevada 23-2852207   (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)   2215 B Renaissance Drive, Suite 5  Las Vegas, Nevada 89119   (Address of principal executive offices) (Zip Code)   Registrant’s telephone number, including area code: (702) 966-4246   Securities registered pursuant to Section 12(b) of the Act: None   Securities registered pursuant to Section 12(g) of the Act: NoneIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 ofthe Securities Act.       Yes o No þIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 orSection 15(d) of the Exchange Act.       Yes o No þIndicate by check mark whether the registrant (1) has filed all reports required to be filed bySection 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or forsuch shorter period that the Registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.       Yes þ No oIndicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K isnot contained herein, and will not be contained, to the best of registrant’s knowledge, indefinitive proxy or information statements incorporated by reference in Part III of this Form 10-Kor any amendment to this Form 10-K.          þIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer,or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” inRule 12b-2 of the Exchange Act.         Large accelerated filer o Accelerated filer o Non-accelerated filer þIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theExchange Act).       Yes o No þState the aggregate market value of the voting and non-voting common equity held by non-affiliatescomputed by reference to the price at which the common equity was last sold, or the average bid andasked price of such common equity, as of the last business day of the registrant’s most recentlycompleted second fiscal quarter. Not Applicable.DOCUMENTS INCORPORATED BY REFERENCE.List hereunder the following documents if incorporated by reference and the Part of the Form 10-K(e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report tosecurity holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant toRule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearlydescribed for identification purposes (e.g., annual reports to security holders for fiscal yearended December 24, 1980): None.  
 

**TABLE OF CONTENTS**       **Page** PART I    Item 1. Business  3 Item 1A. Risk Factors  3 Item 1B. Unresolved Staff Comments  3 Item 2. Properties  4 Item 3. Legal Proceedings  4 Item 4. Submission of Matters to a Vote of Security Holders  4      PART II    Item 5. Market for Registrant’s Common Equity, Related Stockholder Mattersand Issuer Purchases of Equity Securities  4 Item 6. Selected Financial Data  4 Item 7. Management’s Discussion and Analysis of Financial Condition andResults of Operations  4 Item 7A. Quantitative and Qualitative Disclosures About Market Risk  4 Item 8. Financial Statements and Supplementary Data  4 Item 9. Changes in and Disagreements with Accountants on Accounting andFinancial Disclosure  5 Item 9A. Controls and Procedures  5 Item 9B. Other Information  5      PART III    Item 10. Directors and Executive Officers of the Registrant  5 Item 11. Executive Compensation  5 Item 12. Security Ownership of Certain Beneficial Owners and Management andRelated Stockholder Matters  5 Item 13. Certain Relationships and Related Transactions  5 Item 14. Principal Accountant Fees and Services  6      PART IV    Item 15. Exhibits and Financial Statement Schedules  6 Signatures  7  Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 Annual Servicer's Certificate Independent Accountants' Report and Assertion by Advanta Bank Corp.
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**PART I****Item 1.** **Business**.     The Advanta Business Card Master Trust (the “Trust”) was organized by Advanta BusinessReceivables Corp. (the “Transferor”), pursuant to the Trust Agreement (the “Trust Agreement”) datedas of August 1, 2000, between the Transferor and Wilmington Trust Company as owner trustee (the“Owner Trustee”). Pursuant to the Receivables Purchase Agreement dated as of August 1, 2000,between Advanta Bank Corp. (the “Bank”) as seller and the Transferor as purchaser, the Bank soldand transferred all of its rights, title and interest in, to and under certain credit cardreceivables arising from time to time in designated accounts (the “Receivables”) to the Transferor.The Transferor, in turn, transferred all of its rights, title and interest in, to and under theReceivables to the Trust, pursuant to the Transfer and Servicing Agreement dated as of August 1,2000 (the “Transfer and Servicing Agreement”), among the Transferor, the Bank as servicer (the“Servicer”) and the Trust. Under the Transfer and Servicing Agreement, the Servicer has agreed toservice and administer the Receivables as agent for the Transferor and the Trust. The Trust andDeutsche Bank Trust Company Americas (formerly known as Bankers Trust Company) as indenture trustee(the “Indenture Trustee”) entered into a master indenture (the “Master Indenture”) dated as ofAugust 1, 2000. The Master Indenture is supplemented by various series supplements providing forthe issuance of notes, in varying series. The following are publicly registered and outstandingnotes existing as of December 31, 2005: Series 2001-A Asset-Backed Notes, Class A, Class B andClass C; Series 2003-A Asset-Backed Notes, Class A, Class B and Class C; Series 2003-B Asset-BackedNotes, Class A, Class B and Class C; Series 2003-D Asset-Backed Notes, Class A, Class B and ClassC; and AdvantaSeries Asset-Backed Notes, Class A(2005-A1), Class A(2005-A2), Class A(2005-A3),Class A(2005-A4), Class A(2005-A5), Class B (2005-B1), Class C(2004-C1) and Class C(2005-C1) (thesepublicly registered notes are collectively referred to as the “Notes”). The Notes representinterests in the Trust only and do not represent interests in or obligations of the Transferor, theBank, Advanta Corp. or any affiliate thereof.     The Registrant has prepared this Form 10-K in reliance upon various no-action letters issuedby the Securities and Exchange Commission (the “Commission”) to other trusts which aresubstantially similar to the Trust. Items designated herein as “Not Applicable” have been omittedas a result of this reliance.**Item 1A.** **Risk Factors**  Not Applicable.**Item 1B.** **Unresolved Staff Comments**  None.
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**Item 2.** **Properties**.     The Trust’s assets consist primarily of a pool of receivables in a portfolio of revolvingbusiness credit card accounts originated or acquired by the Bank.**Item 3.** **Legal Proceedings**.     The Transferor is not aware of any material pending litigation involving the Trust, the OwnerTrustee, the Indenture Trustee, the Transferor or the Bank with respect to the Notes or theproperty or activities of the Trust. The Transferor is aware that the Servicer is a party tovarious legal proceedings resulting from the ordinary business activities relating to its currentand discontinued operations.**Item 4.** **Submission of Matters to a Vote of Security Holders**.  None.**PART II****Item 5.** **Market for Registrant’s Common Equity, Related Stockholder Matters andIssuer Purchases of Equity Securities.**     Except for the AdvantaSeries, each class of Notes is represented by a single Note of suchclass, and for the AdvantaSeries, each tranche of Notes is represented by a single Note of suchtranche. Each publicly issued Note is registered in the name of Cede & Co., the nominee of TheDepository Trust Company (“DTC”). (a) Not Applicable.  (b) Not Applicable.  (c) Not Applicable.**Item 6.** **Selected Financial Data.**  Not Applicable.**Item 7.** **Management’s Discussion and Analysis of Financial Conditionand Results of Operations.**  Not Applicable.**Item 7A.** **Quantitative and Qualitative Disclosures About Market Risk.**  Not Applicable.**Item 8.** **Financial Statements and Supplementary Data.**  Not Applicable.
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**Item 9.** **Changes in and Disagreements with Accountants on Accounting andFinancial Disclosure.**          None.**Item 9A.** **Controls and Procedures.**          Not Applicable.**Item 9B.** **Other Information.**          None.**PART III****Item 10.**       **Directors and Executive Officers of the Registrant.**          Not Applicable.**Item 11.** **Executive Compensation.**          Not Applicable.**Item 12.** **Security Ownership of Certain Beneficial Owners and Managementand Related Stockholder Matters.**          There is no established public trading market for the Registrant’s common equity.          There are no securities for issuance under equity compensation plans.          Except for the AdvantaSeries, each class of Notes is represented by a single Note of suchclass, and for the AdvantaSeries, each tranche of Notes is represented by a single Note of suchtranche. Each publicly issued Note is registered in the name of Cede & Co., the nominee of DTC,and an investor holding a beneficial interest in a Note is not entitled to receive a noterepresenting such interest except in certain limited circumstances. Accordingly, Cede & Co. is thesole holder of record of the Notes, which it holds on behalf of brokers, dealers, banks and otherdirect participants in the DTC system. Such direct participants may hold Notes for their ownaccounts or for the accounts of their customers. The name and address of Cede & Co. is:Cede & Co.