Advanta Corp. said Thursday it swung to a loss in the first quarter as credit card chargeoffs spiraled upward, but the company reiterated that it can prevent an early amortization of its master trust.

The Spring House, Pa., company, which specializes in small-business cards, posted a loss of $75.9 million, or $1.87 a share, versus a profit of $18.4 million, or 43 cents a share, a year earlier.

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