Advanta Business Cards reported yesterday net income of $4.0 million for the first quarter. The average yield on the company’s business credit card portfolio, including fee income, increased this quarter to 20.36% from 19.85% last quarter due to increases in rates and higher fee income. This was partially offset by an increase in the net managed charge-off rate on business credit card loans of 5.61% this quarter compared to 5.46% last quarter. Managed receivables for ‘Advanta Business Cards’ at the end of the quarter were $832 million, up 2.1% from last quarter and 18.8% from the same quarter last year. For more details on Advanta’s 1Q/99 financials visit CardData ([www.carddata.com]).