Credit card reform leaves small biz out

When the Senate passed its credit-card reform bill on Tuesday, Senator Christopher Dodd called it "a great day for consumers." But what will it mean for small business owners who've been struggling with inflated rates and unexpected fees on their credit cards? That depends on how your small business is incorporated, and what kind of card you have.

Advanta Dumps One Million Small Business Customers

Advanta's move is one of the most extreme retreats in the credit-card industry, which is being racked by record delinquency and default rates. While Advanta is a tiny player overall, with about $5 billion in outstanding card loans compared with $176 billion at J.P. Morgan Chase & Co. as of March 31, Advanta focused solely on small businesses.