Business card specialist, Advanta, reported that its managed receivables topped $3.0 billion during the first quarter, a 12% gain over 1Q/03. Charge volume was $1.9 billion for the first quarter, a 20% gain over the first quarter of 2003. Net income for the first quarter of $9.4 million compared to net income in 1Q/03 of $5.9 million. The issuer ended the quarter with managed receivables of $3,077,146,000. Card volume for the first quarter was $1,921,923,000. Charge-offs on managed receivables dropped to 7.19% on an annualized basis, as compared to 7.31% for the quarter ended December 31st, and 8.02% one-year ago. Over 30 day delinquencies on managed receivables also declined, to 5.37%, compared to 5.82% in the prior quarter, and 6.36% in 1Q/03. For complete details on Advanta’s 1Q/04 performance visit CardData ([www.carddata.com]).