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Previous: CC MASTER CREDIT CARD TRUST II, 8-K, EX-99.9, 2000-06-12 |
Next: AMERIPRIME FUNDS, N-30D, 2000-06-12 |
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Page 1
EXHIBIT 99.10
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1998-A
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
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RECEIVABLES
Beginning of the Month Principal Receivables: $ 2,680,593,719.10
Beginning of the Month Finance Charge Receivables: $ 126,557,096.55
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,807,150,815.65
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 0.00
Additional Finance Charge Receivables: $ 0.00
Additional Total Receivables: $ 0.00
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $ 2,683,054,722.71
End of the Month Finance Charge Receivables: $ 124,500,103.29
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,807,554,826.00
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $ 2,300,000,000.00
End of the Month Transferor Amount $ 383,054,722.71
End of the Month Transferor Percentage 14.28%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 55,183,955.21
60-89 Days Delinquent $ 37,347,640.13
90+ Days Delinquent $ 79,589,652.66
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Total 30+ Days Delinquent $ 172,121,248.00
Delinquent Percentage 6.13%
Defaulted Accounts During the Month $ 25,413,584.81
Annualized Default Percentage 11.38%
Principal Collections 346,833,893.54
Principal Payment Rate 12.94%
Total Payment Rate 13.91%
INVESTED AMOUNTS
Class A Initial Invested Amount $ 370,500,000.00
Class B Initial Invested Amount $ 57,000,000.00
Class C Initial Invested Amount $ 47,500,000.00
INITIAL INVESTED AMOUNT $ 475,000,000.00
Class A Invested Amount $ 468,000,000.00
Class B Invested Amount $ 72,000,000.00
Class C Invested Amount $ 60,000,000.00
INVESTED AMOUNT $ 600,000,000.00
Class A Adjusted Invested Amount $ 468,000,000.00
Class B Adjusted Invested Amount $ 72,000,000.00
Class C Adjusted Invested Amount $ 60,000,000.00
ADJUSTED INVESTED AMOUNT $ 600,000,000.00
PREFUNDED AMOUNT $ 0.00
FLOATING ALLOCATION PERCENTAGE 22.38%
PRINCIPAL ALLOCATION PERCENTAGE 22.38%
Class A Principal Allocation Percentage 78.00%
Class B Principal Allocation Percentage 12.00%
Class C Principal Allocation Percentage 10.00%
COLLECTIONS OF PRINCIPAL RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 77,632,177.19
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Page 3
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COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 9,762,285.08
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 5,688,348.10
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 8,199,582.36
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 8,199,582.36
Class A Monthly Interest $ 2,689,017.50
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $ 4,436,911.52
TOTAL CLASS A EXCESS SPREAD $ 488,653.34
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,261,474.22
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 1,261,474.22
Class B Monthly Interest $ 429,195.00
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 742,279.22
CLASS B INVESTOR DEFAULT AMOUNT 682,601.77
CLASS B REQUIRED AMOUNT 682,601.77
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Page 4
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CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE 75,000.00
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 2,207,161.06
Excess Spread Applied to Class A Required Amount $ 0.00
Excess Spread Applied to Class A Investor
Charge Offs $ 0.00
Excess Spread Applied to Class B
Required Amount $ 682,601.77
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 957,497.31
Excess Spread Applied to Reductions of
Class C Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash $ 125,000.00
Collateral Fee
Excess Spread Applied to Cash Collateral $ 0.00
Account
Excess Spread Applied to Spread Account $ 442,061.98
Excess Spread Applied to Reserve Account $ 0.00
Excess Spread Applied to other amounts owed to $ 0.00
Cash Collateral Depositor
Excess Spread Applied to other amounts owed to
Spread Account Residual Interest Holders $ 0.00
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR
GROUP I $ 0.00
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Page 5
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EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 0.00
SERIES 1998-A EXCESS FINANCE CHARGE COLLECTIONS --
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO $ 0.00
SERIES 1998-A
Excess Finance Charge Collections Applied to
Class A Required Amount $ 0.00
Excess Finance Charge Collections Applied to
Class A Investor Charge Offs $ 0.00
Excess Finance Charge Collections Applied to
Class B Required Amount $ 0.00
Excess Finance Charge Collections Applied to
Reductions of Class B Invested Amount $ 0.00
Excess Finance Charge Collections Applied to
Class C Required Amount $ 0.00
Excess Finance Charge Collections Applied to
Reductions of Class C Invested Amount $ 0.00
Excess Finance Charge Collections Applied to
Monthly Cash Collateral Fee $ 0.00
Excess Finance Charge Collections Applied to
other amounts owed Cash Collateral Depositor $ 0.00
Excess Finance Charge Collections Applied to
other amounts owed to Spread Account Residual Interest
Holders $ 0.00
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Page 6
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YIELD AND BASE RATE --
Base Rate (Current Month) 8.79%
Base Rate (Prior Month) 8.40%
Base Rate (Two Months Ago) 8.27%
THREE MONTH AVERAGE BASE RATE 8.49%
Portfolio Yield (Current Month) 9.65%
Portfolio Yield (Prior Month) 11.87%
Portfolio Yield (Two Months Ago) 14.40%
THREE MONTH AVERAGE PORTFOLIO YIELD 11.97%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 77,632,177.19
INVESTOR DEFAULT AMOUNT $ 5,688,348.10
REALLOCATED PRINCIPAL COLLECTIONS
Allocable to Class C Interests $ 0.00
Allocable to Class B Certificates $ 0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $ 0.00
SERIES
CLASS A SCHEDULED ACCUMULATION --
Controlled Accumulation Amount $ 0.00
Deficit Controlled Accumulation Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
CLASS B SCHEDULED ACCUMULATION --
Controlled Accumulation Amount $ 0.00
Deficit Controlled Accumulation Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR PRINCIPAL $ 83,320,525.29
SHARING
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Page 7
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INVESTOR CHARGE OFFS --
CLASS A INVESTOR CHARGE OFFS $ 0.00
CLASS B INVESTOR CHARGE OFFS $ 0.00
CLASS C INVESTOR CHARGE OFFS $ 0.00
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $ 0.00
PREVIOUS CLASS B REDUCTIONS REIMBURSED $ 0.00
PREVIOUS CLASS C REDUCTIONS REIMBURSED $ 0.00
CASH COLLATERAL ACCOUNT --
Required Cash Collateral Amount $ 18,000,000.00
Available Cash Collateral Amount $ 18,000,000.00
TOTAL DRAW AMOUNT $ 0.00
CASH COLLATERAL ACCOUNT SURPLUS $ 0.00
</TABLE>
First USA Bank, National Association
as Servicer
By: /s/ Tracie H. Klein
---------------------------
Tracie H. Klein
First Vice President
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