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 July 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
July 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/ S. E. Casey
S. E. Casey, Assistant Secretary
Dated: July 25, 1996
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
4
99(a) Monthly Servicing Report to Trustee dated July 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 -
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 Corporation,
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 certify
with respect to the information set forth below as follows:
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
July 15, 1996.
5 Trust Information.
(a) The aggregate amount of Collections processed for the Due
Period
preceding such Distribution Date was equal to
.......................................
$293,433,080.37
(b) The aggregate amount of such Collections with respect to
Principal
Receivables for the Due Period preceding such Distribution
Date was
equal to
.................................................................
............................... $245,739,492.77
(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
.......................................................
$47,693,587.60
(d) The Defaulted Amount for the preceding Due Period is
.......................... $14,970,697.67
(e) The total amount of Principal Receivables as of the last day
of the
immediately preceding Due Period is
.....................................................
$3,284,901,790.35
(f) The Portfolio Yield for such Distribution Date
....................................... 11.86%
(g) The total amount of Principal Receivables in the Trust at the
beginning
of the preceding Due Period is equal to
..................................................
$3,311,636,017.31
(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
..........................................
$3,298,268,903.83
(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 ........... $52,079,725.41
(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
.................................................................
.......................................
$200,523,444.61
(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
.................................................................
........................................
$60,882,910.45
(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
.................................................................
........................................
$81,129,825.53
(m) The aggregate amount of Trust Excess Principal Collections for
such
Distribution Date
is...............................................................
................. $245,739,492.77
(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
............................................
5.80%
(b) Group One Total Investor Collections is equal to
..................................... $177,213,364.53
(c) Group One Investor Principal Collections is equal
to................................. $148,409,723.46
d) Group One Investor Finance Charge and Administrative
Collections
equal
to...............................................................
...................................
$28,803,641.07
(e) Group One Investor Additional Amounts is equal to
................................ $0.00
(f) Group One Investor Default Amount is equal to
...................................... $9,041,269.99
(g) Group One Investor Monthly Fees is equal to
..........................................
$3,333,333.33
(h) Group One Investor Monthly Interest is equal
to...................................... $9,028,362.08
7 Series 1995-1 Information
(a) The Series Adjusted Portfolio Yield for the Due Period
preceding such
Distribution Date was equal to
................................................................
11.86%
(b) The Series 1995-1 Allocation Percentage with respect to the
Due
Period preceding such Distribution Date was equal to
.............................. 83.54%
(c) The Floating Allocation Percentage for the Due Period
preceding such
Distribution Date was equal to
...............................................................
72.29%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period preceding
such Distribution Date is equal to
...........................................................
$28,803,641.07
(e) The Floating Allocation Percentage of Series Allocable Finance
Charge and Administrative Collections for the Due Period
preceding
such Distribution Date is equal
to...........................................................
$28,803,641.07
(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
.................................................................
.............. $21,602,730.80
(i) The amount of Class A Monthly Interest for such Distribution
Date is
equal
to...............................................................
................................. $6,610,438.33
(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
.................................................................
.............................. $6,780,952.49
(n) The Allocable Servicing Fee for such Distribution Date is
equal to............ $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...............................................................
.................... $3,086,108.52
(s) The amount of Class B Monthly Interest for such Distribution
Date is
equal
to...............................................................
................................. $974,349.63
(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...............................................................
..........................................
$968,708.79
(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............................................
$4,114,801.75
(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 equal
to....................... $0.00
(aa) The amount of Excess Finance Charge and Administrative
Collections
with respect to such Distribution Date is equal
to..................................... $14,437,900.61
(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 Interest
Amount.............. $0.00
(iv) to fund the Class B Investor Default Amount with
respect to such Distribution
Date............................................................
$968,708.79
(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.............................................................
$3,333,333.33
(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...............................................................
..... $37,102,430.87
(dd) The Principal Allocation Percentage is equal
to...............................................................
.......................................... 83.54%
(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.......................... FALSE
(gg) The amount of Class A Investor Charge-Offs for such
Distribution $0.00
Date is equal
to...............................................................
......................
(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 is
equal to.......... $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.......................................................
$28,803,641.07
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..........................................
$7,400,675.67
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 equal
to.................... $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.
IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this
Certificate this _____ day of _______________, 199_.
HOUSEHOLD FINANCE CORPORATION
as Servicer,
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
