SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report May 15, 1996
HOUSEHOLD CREDIT CARD MASTER TRUST I
(Exact name of registrant as specified in Department of the
Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
Delaware 33-97296 Not Applicable
(State or other juris- (Commission File Number (IRS Employer
diction of incorporation of Registrant) Identification
of Master Servicer) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Servicer's telephone number, including area code 847/564-5000
Exhibit Index appears on page 3 <PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated May
15, 1996 pursuant to Section 3.04(b) of the
Pooling and Servicing Agreement dated as of
December 1, 1995 (the "Pooling and Servicing
Agreement") among Household Card Funding
Corporation, as Transferor, Household Finance
Corporation, as Servicer, and The Bank of New
York, as Trustee, with respect to the Class A
and Class B Credit Card Participation
Certificates, Series 1995-1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Servicer has duly caused this report to be signed on
behalf of the Private Label Credit Card Master Trust II by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD CREDIT CARD MASTER TRUST I
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke, Authorized Representative
Dated: May 21, 1996
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
4
99(a) Monthly Servicing Report to Trustee dated May 15, 1996
pursuant to Section 3.04(b) of the Pooling and Servicing
Agreement dated as of December 1, 1995 (the "Pooling and
Servicing Agreement") among Household Card Funding
Corporation, as Transferor, Household Finance Corporation,
as Servicer, and The Bank of New York, as Trustee, with
respect to the Class A and Class B Credit Card Participation
Certificates, Series 1995-1.
- 3 -<PAGE>
MONTHLY SERVICER'S CERTIFICATE
(Delivered pursuant to subsection 3.04(b)
of the Pooling and Servicing Agreement
HOUSEHOLD FINANCE CORPORATION
HOUSEHOLD CARD FUNDING CORPORATION
HOUSEHOLD CREDIT CARD MASTER TRUST I
Class A and Class B Certificates, Series 1995-1
The undersigned, a duly authorized representative of Household
Finance Corp as Servicer (the "Servicer"), pursuant to the Pooling and
Servicing Agreement, dated as of December 1, 1995 (the "Pooling and
Servicing Agreement"), by and among Household Card Funding Corporation, as
Transferor, the Servicer, and The Bank of New York, as Trustee, does
hereby with respect to the information set forth below as follows:
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1. Capitalized terms used in this Certificate shall have the respective meanings set forth in the Pooling and
Servicing Agreement.
2. Household Finance Corporation is, as of the date hereof, the Servicer under the Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring
on May 15, 1996.
5. Trust Information.
(a) The aggregate amount of Collections processed for the Due Period
preceding such Distribution Date was equal to..... $193,116,841.46
(b) The aggregate amount of such Collections with respect to
Principal Receivables for the Due Period preceding such
Distribution Date was equal to. .................. $160,287,724.03
(c) The aggregate amount of such Collections with respect to Finance
Charge and Administrative Receivables for the Due Period preceding
such Distribution Date was equal to ..... ........ $32,829,117.43
(d) The Defaulted Amount for the preceding Due Period is $13,047,271.33
(e) The total amount of Principal Receivables as of the last day of the
immediately preceding Due Period is .............. $2,340,051,382.96
(f) The Portfolio Yield for such Distribution Date ....... 10.11%
(g) The total amount of Principal Receivables in the Trust at the
beginning of the preceding Due Period is equal to $2,347,551,459.10
(h) The average amount of Principal Receivables in the Trust during the
preceding Due Period (the sum of the amounts in clause (e) and the
amount in clause (g) divided by 2) is equal to ... $2,343,801,421.03
(i) The total amount of Finance Charge and Administrative Receivables
in the Trust as of the last day of the immediately preceding
Due Period is.................................... $38,450,630.88
(j) The aggregate outstanding balance of the Accounts which were
delinquent by one payment as of the close of business on the last
day of the calendar month preceding such Distribution Date was equal
to ...... ........................................ $137,489,428.02
(k) The aggregate outstanding balance of the Accounts which were
delinquent by two payments as of the close of business on the last
day of the calendar month preceding such Distribution Date was equal
to ...... ........................................ $40,202,871.28
(l) The aggregate outstanding balance of the Accounts which were
delinquent by three or more payments as of the close of business
on the last day of the calendar month preceding such
Distribution Date was equal to.................... $77,250,133.42
(m) The aggregate amount of Trust Excess Principal Collections for such
Distribution Date is.............................. $136,557,367.81
(n) The aggregate amount of Principal Shortfalls for such Distribution
Date is .......................................... $0.00
6. Group One Information
(a) The Average Rate for Group One (the weighted average Certificate
Rate reduced to take into account any payments made pursuant to
interest rate agreements, if any ) is equal to .. 5.8079%
(b) Group One Total Investor Collections is equal to.. $164,526,183.83
(c) Group One Investor Principal Collections is equal to. $136,557,367.81
(d) Group One Investor Finance Charge and Administrative Collections
equal to.......................................... $27,968,816.02
(e) Group One Investor Additional Amounts is equal to $0.00
(f) Group One Investor Default Amount is equal to .... $11,115,642.45
(g) Group One Investor Monthly Fees is equal to ...... $3,333,333.33
(h) Group One Investor Monthly Interest is equal to...... $9,679,761.75
7. Series 1995-1 Information
(a) The Series Adjusted Portfolio Yield for the Due Period preceding such
Distribution Date was equal to ....................... 10.11%
(b) The Series 1995-1 Allocation Percentage with respect to the Due
Period preceding such Distribution Date was equal to . 100.00%
(c) The Floating Allocation Percentage for the Due Period preceding such
Distribution Date was equal to ....................... 85.20%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period preceding
such Distribution Date is equal to ................... $27,968,816.02
(e) The Floating Allocation Percentage of Series Allocable Finance
Charge and Administrative Collections for the Due Period preceding
such Distribution Date is equal to.... ........... $27,968,816.02
(f) Class A Invested Amount .......................... $1,500,000,000.00
(g) The Class A Invested Percentage with respect to the Due Period
preceding such Distribution Date was equal to ........ 75.00%
(h) The Class A Invested Percentage of the amount set forth in Item 7(d)
above was equal to ............................. . $20,976,612.02
(i) The amount of Class A Monthly Interest for such Distribution Date is
equal to..... .................................... $7,087,500.00
(j) The amount of any Class A Monthly Interest previously due but not
distributed on a prior Distribution Date is equal to . $0.00
(k) The amount of Class A Additional Interest for such Distribution Date
is equal to .......................................... $0.00
(l) The amount of any Class A Additional Interest previously due but not
distributed on a prior Distribution Date is equal to.. $0.00
(m) The Class A Investor Default Amount for such Distribution Date is
equal to ....... ................................. $8,336,731.84
(n) The Allocable Servicing Fee for such Distribution Date $3,333,333.33
(o) The Class A Required Amount, if any, with respect to such
Distribution Date is equal to... ................. $0.00
(p) Class B Invested Amount .......................... $214,286,000.00
(q) The Class B Invested Percentage for the Due Period preceding such
Distribution Date was equal to.... .............. 10.71%
(r) The Class B Invested Percentage of the amount set forth in Item 7(d)
above is equal to................................ $2,996,662.85
(s) The amount of Class B Monthly Interest for such Distribution Date is
equal to.......................................... $1,044,644.25
(t) The amount of any Class B Monthly Interest previously due but not
distributed on a prior Distribution Date is equal to.. $0.00
(u) The amount of Class B Additional Interest for such Distribution Date
is equal to........................................... $0.00
(v) The amount of any Class B Additional Interest previously due but not
distributed on a prior Distribution Date is equal to.. $0.00
(w) Class B Investor Default Amount for such Distribution Date is equal
to............................................... $1,190,963.28
(x) The amount of Reallocated Finance Charge and Administrative
Collections to be distributed to the Collateral Interest Holder with
respect to such Distribution Date is equal to..... $1,547,617.50
(y) The Series 1995-1 Principal Shortfall for such Distribution Date is
equal to......................................... $0.00
(z) The Series 1995-1 Excess Principal Collections is equa $0.00
(aa) The amount of Excess Finance Charge and Administrative Collections
with respect to such Distribution Date is equal to.... $3,840,078.48
(bb) The amount of Excess Finance Charge and Administrative Collections
referred to in Item 7(aa) will be available to be distributed on such
Distribution Date to fund or reimburse the following items:
(i) to fund the Class A Required Amount, if any, with
respect to such Distribution Date..................... $0.00
(ii) to reimburse Class A Investor Charge-Offs..... $0.00
(iii) to pay current or overdue Class B Monthly Interest, Class
B Additional Interest or the Cumulative Excess Interes $0.00
(iv) to fund the Class B Investor Default Amount with
respect to such Distribution Date................. $1,190,963.28
(v) to reimburse certain previous reductions in the Class B
Invested Amount..... ............................. $0.00
(vi) to pay any portion of the Allocable Servicing Fee not
paid pursuant to clause (i) above.... ............ $0.00
(vii) to make any required deposit in the Cash
Collateral Account ................................... $0.00
(cc) The amount of Subordinated Principal Collections with respect to such
Distribution Date is equal to.... ................ $34,139,341.95
(dd) The Principal Allocation Percentage is equal
to............................................... 85.20%
(ee) The total amount to be distributed to Class A Certificateholders on
such Distribution Date in payment of principal is equal to $0.00
(ff) The total amount to be distributed to Class B Certificateholders on
such Distribution Date in payment of principal is equal to $0.00
(gg) The amount of Class A Investor Charge-Offs for such Distribution $0.00
Date is equal to................... $0.00
(hh) The total amount of reimbursements of Class A Investor Charge-Offs
for such Distribution Date is equal to............ $0.00
(ii) The amount of Class B Investor Charge-Offs and other reductions in
the Class B Invested Amount for such Distribution Date $0.00
(jj) The total amount of reimbursements of Class B Investor Charge-Offs
for such Distribution Date is equal to............ $0.00
(kk) The Class A Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and adjustments
on such Distribution Date) will equal to.......... $1,500,000,000.00
(ll) The Class B Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and adjustments
on such Distribution Date) will equal to.......... $214,286,000.00
(mm) The Available Collateral Amount as of the close of business on the
preceding Distribution Date (after giving effect to any withdrawal
from the Collateral Account) was equal to......... $285,714,000.00
(nn) The Required Collateral Amount as of the close of business on such
Distribution Date, after giving effect to any withdrawal from the
Collateral Account and payments to the Collateral Interest Holder on
such Distribution Date, will be equal to.......... $285,714,000.00
(oo) The ratio of the Required Collateral Amount to the Class B Invested
Amount as of the close of business on such Distribution Date, after
giving effect to any withdrawal from the Collateral Account and
payments to the Collateral Interest Holder on such Distribution Date,
will be equal to...... .......................... 1.33
(pp) The Cumulative Excess Interest Amount as of the close of business on
such Distribution Date, after giving effect to any payments of interest
to Class B Certificateholders on such Distribution Date, will be equal
to.................................................... $0.00
8. Total amount to be on deposit in the Collection Account (after giving
effect to allocations required to be made pursuant to the terms of all
other Series now outstanding and to the payment of the Servicer's fee
and funding of investor default amounts) prior to making distributions
on such Distribution Date is equal to............. $27,968,816.02
9. The total amount to be distributed from the Collection Account to the
Transferor on such Distribution Date (after taking into consideration
the amounts which have been netted with respect to all Series against
deposits to the Collection Account) is equal to.... $3,840,078.48
10. Total amount to be distributed from the Collection Account to the
Servicer in respect of the unpaid Allocable Servicing Fee for the
preceding Due Period on such Distribution Date (after taking into
consideration the amounts which have been netted with respect to this
Series against deposits to the Collection Account) is $0.00
11. As of the date hereof, to the best knowledge of the undersigned, (a)
the Servicer has performed in all material respects all its obligations
under the Pooling and Servicing Agreement through the Due Period
preceding such Distribution Date or, if there has been a default in the
performance of any such obligation, set forth in detail the (i) nature of
such default, (ii) the action taken by the Transferor and Servicer, if
any, to remedy such default and (iii) the current status of each such
default; if applicable, insert "None".
12. As of the date hereof, to the best knowledge of the undersigned, no
Amortization Event has been deemed to have occurred on or prior to
such Distribution Date.
13. As of the date hereof, to the best knowledge of the undersigned, no
Lien has been placed on any of the Receivables other than pursuant to
the Pooling and Servicing Agreement (or, if there is a Lien, such Lien
consists of _______________).
14. The amount specified to be deposited into and withdrawn from the
Collection Account, as well as the amounts specified to be paid to the
Transferor, the Servicer, the Interest Holder and the Certificateholders
are all in accordance with the requirements of the Pooling and
Servicing Agreement.
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IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this _____ day of _______________, 199_.
HOUSEHOLD FINANCE CORPORATION
as Servicer,
s/ S. H. Smith
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
