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 December 16, 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
December 16, 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: December 18, 1996
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
4
99(a) Monthly Servicing Report to Trustee dated December 16, 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 December 16, 1996.
5. Trust Information.
(a) The aggregate amount of Collections processed for the
Due Period preceding such Distribution Date was equal
to...................................$260,622,707.54
(b) The aggregate amount of such Collections with respect
to Principal Receivables for the Due Period preceding
such Distribution Date was equal to....$215,941,978.47
(i) The payment rate, [ ( (b) + (c)(ii) + (c)(iii) ) /
(f) ], is .............. 8.220%
(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 ........... $44,680,729.07
(i) The gross cash yield, [ (c) * 12 / (f) ], is
.................... 17.148%
(ii) The amount of such aggregate with respect to
Finance Charge was equal to $37,568,972.12
(iii)The amount of such aggregate with respect to
Fees was equal to ... $3,499,098.89
(iv) The amount of such aggregate with respect to
Interchange was equal to .. $2,676,954.80
(v) The amount of such aggregate with respect to
Recoveries was equal to .. $935,703.26
(d) The Defaulted Amount for the preceding Due Period is
....................... $18,332,428.71
(i) The annualized default rate, (d) *12 / (f), is
............................ 7.036%
(e) The Portfolio Yield for such Distribution Date
.............................. 10.112%
(f) The total amount of Principal Receivables in the Trust
at the beginning of the immediately preceding Due
Period, November 1, is... $3,126,792,804.69
(g) The total amount of Principal Receivables as of the
last day of the immediately preceding Due Period,
November 30, is ........ $3,144,621,647.66
(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...........$3,135,707,226.17
(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 $56,692,168.92
(j) The aggregate outstanding gross balance of the Accounts
which were one payment (5-29 days) delinquent as of
the close of business on the last day of the calendar
month preceding such Distribution Date was equal to
...............................$192,268,699.75
(k) The aggregate outstanding gross balance of the Accounts
which were two payments (30-59 days) delinquent as of
the close of business on the the last day of the
calendar month preceding such Distribution Date
was equal to ............... $60,666,559.16
(l) The aggregate outstanding gross balance of the Accounts
which were three or more payments (60+ days) delinquent
as of the close of business on the last day of the
calendar month preceding such Distribution Date
was equal to ...........................$140,680,760.21
(m) The aggregate amount of Trust Excess Principal
Collections for such Distribution Date is
$215,941,978.47
(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 5.6829%
(b) Group One Total Investor Collections is equal to
............................ $166,702,895.79
(c) Group One Investor Principal Collections is equal
to..................... $138,123,625.04
(d) Group One Investor Finance Charge and Administrative
Collections equal to..............$28,579,270.75
(e) Group One Investor Additional Amounts is equal to
............................. $0.00
(f) Group One Investor Default Amount is equal to
........................... $11,726,027.18
(g) Group One Investor Monthly Fees is equal to
............................ $3,333,333.33
(h) Group One Investor Monthly Interest is equal
to....................... $9,787,142.70
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............................ 73.03%
(c) The Floating Allocation Percentage for the Due Period
preceding such Distribution Date was equal to ..87.59%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period
preceding such Distribution Date is equal to
........... $28,579,270.75
(e) The Floating Allocation Percentage of Series Allocable
Finance Charge and Administrative Collections for the
Due Period preceding such Distribution Date is
equal to........................$28,579,270.75
(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 ......... $21,434,453.06
(i) The amount of Class A Monthly Interest for such
Distribution Date is equal to..........$7,162,291.67
(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 $8,794,520.39
(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.............. $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.....$3,062,068.81
(s) The amount of Class B Monthly Interest for such
Distribution Date is equal to............$1,056,400.22
(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.............$1,256,361.73
(x) The Collateral Invested Percentage of the amount set
forth in Item 7(d) above is equal to....$4,082,748.88
(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......................$8,232,725.14
(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 $1,256,361.73
(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 pay the Collateral Monthly Interest for such
Distribution Date equal to........$1,568,450.81
(viii)to fund the Collateral Investor Default Amount
with respect to such Distribution Date
$1,675,145.07
(ix) 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.............$41,414,041.83
(dd) The Principal Allocation Percentage is equal
to.......
(ee) The total amount to be distributed to Class A
Certificateholders on such Distribution Date in
payment of principal is equalto..... $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 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 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................... "$28,579,270.75
"
9. The total amount to be allocated according to the terms
of the Collateral Agreement on such Distribution Date is
equal
to............................ "$3,732,767.54
"
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 16th day of December,
1996.
HOUSEHOLD FINANCE CORPORATION
"as Servicer,"
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
<PAGE>
Household Finance Corporation
Household Card Funding Corp. November 1996
"Household Credit Card Master Trust I , Series 1995-1"
"Dec 16, 1996"
CLASS A CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
"1. Total distribution per $1,000 interest"
$4.774861111
"2. Principal distribution per $1,000 interest"
$0.00
"3. Interest distribution per $1,000 interest"
$4.774861111
B. Calculation of Class A Interest
1. Calculation of Class A Certificate Rate
(a) One-month LIBOR 5.375000000%
(b) Spread 0.1700%
(c) Class A Certificate Rate 5.545000000%
2. Beginning Invested Amount $1,500,000,000.00
3. Days in Interest Period 31
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $260,622,707.54
(b) Collections of Finance Charge and Administrative
Receivables $44,680,729.07
(c) Collections of Principal $215,941,978.47
2. Allocation of Receivables
(a) Class A Invested Percentage 75.00%
(b) Principal Allocation Percentage 87.59%
3. Gross Delinquent Balances
(a) Delinquent 5 - 29 days $192,268,699.75
% of Gross Receivables 6.01%
(b) Delinquent 30 - 59 days $60,666,559.16
% of Gross Receivables 1.90%
(c) Delinquent 60+ days $140,680,760.21
% of Gross Receivables 4.39%
4. Class A Investor Default Amount $8,794,520.39
5. Class A Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class A Investor Charge-offs, if any, for the
Distribution Date" $0.00
(b) The amount of Item 5.(a) per $1,000 interest
$0.00
(c) Total reimbursed to Trust in respect of Class A
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000 interest
$0.00
(e) The amount, if any, by which the outstanding
principal balance of the $0.00
Class A Certificates exceeds the class A Invested
Amount as of the end of the Distribution Date
6. Allocable Servicing Fee paid for the Distribution Date
$3,333,333.33
7. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class A Pool Factor 1.00000000
E. Receivables Balances
1. Principal Receivables as of the last day of the preceding
Due Period $3,144,621,647.66
2. Finance Charge and Administrative Receivables as of the
last day $56,692,168.92
of the preceding Due Period
F. Class B Certificates
1. Class B Invested Amount as of the end of the Distribution
Date $214,286,000.00
2. Available Collateral Invested Amount as of the end of the
Distribution Date $285,714,000.00
<PAGE>
Household Finance Corporation
Household Card Funding Corp. November 1996
"Household Credit Card Master Trust I , Series 1995-1"
"Dec 16, 1996"
CLASS B CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
"1. Total distribution per $1,000 interest
$4.929861111
"2. Principal distribution per $1,000 interest
$0.00
"3. Interest distribution per $1,000 interest"
$4.929861111
B. Calculation of Class B Interest
1. Calculation of Class B Certificate Rate
(a) One-month LIBOR 5.375000000%
(b) Spread 0.3500%
(c) Class B Certificate Rate 5.725000000%
2. Beginning Invested Amount $214,286,000.00
3. Days in Interest Period 31
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $260,622,707.54
(b) Collections of Finance Charge and Administrative
Receivables $44,680,729.07
(c) Collections of Principal $215,941,978.47
2. Allocation of Receivables
(a) Class B Invested Percentage 10.71%
(b) Principal Allocation Percentage 87.59%
3. Gross Delinquent Balances
(a) Delinquent 5 - 29 days $192,268,699.75
% of Gross Receivables 6.01%
(b) Delinquent 30 - 59 days $60,666,559.16
% of Gross Receivables 1.90%
(c) Delinquent 60+ days $140,680,760.21
% of Gross Receivables 4.39%
4. Class B Investor Default Amount $1,256,361.73
5. Class B Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class B Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000 interest
$0.00
(c) Total reimbursed to Trust in respect of Class B
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000 interest
$0.00
(e) The amount, if any, by which the outstanding
principal balance of the $0.00
Class B Certificates exceeds the Class B Invested
Amount as of the end of the Distribution
Date
6. Available Cash Collateral Amount
(a) Available Cash Collateral Amount at the end of the
Distribution Date $0.00
(b) Available Cash Collateral Amount as a percent of
the Class B 0.00%
Invested Amount, each at the end of the
Distribution Date
7. Available Collateral Invested Amount $285,714,000.00
8. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class B Pool Factor 1.00000000
E. Receivables Balances
1. Principal Receivables as of the last day of the preceding
Due Period $3,144,621,647.66
2. Finance Charge and Administrative Receivables as of the
last day of the preceding Due Period $56,692,168.92
