SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
Purpose: To supplement in part Part IV, Item 14(c) of Company's
previously filed Form 10-K in order to file as an exhibit
the Annual Servicing Report of Company's Independent
Public Accountants.
Commission File Nos. 33-97296
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 36-3670374
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation of Servicer) Number of Registrant
2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070
(Address of principal executive offices of (Zip Code)
Servicer)
Servicer's telephone number, including area code (847) 564-5000
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Servicer has duly caused this
amendment to be signed on behalf of the Household Credit Card
Master Trust I by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD CREDIT CARD MASTER TRUST I
(Registrant)
Date: May 9, 1997 By:/s/John W. Blenke
John W. Blenke
Assistant Secretary
U:\WP\HFS088\95-10K\HCCMT.AMD
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Exhibit Index
Exhibit No. Exhibit Page No.
99 Copy of Independent Public Accountants 4
Annual Servicing Report dated March 26, 1997.
Independent Accountants' Report on Applying Agreed-Upon Procedures
To Household Finance Corporation:
We have performed procedures enumerated below in items A. and B. in
conjunction with Section 3.06 of the Pooling and Servicing
Agreement, dated December 1, 1995, as supplemented (the
"Agreement").
We have audited, in accordance with generally accepted auditing
standards, the consolidated financial statements of Household
Finance Corporation (the "Servicer") and subsidiaries as of
December 31, 1996, and have issued our report thereon dated January
23, 1997. We have not audited any financial statements of the
Servicer as of any date or for any period subsequent to December
31, 1996, or performed any audit procedures subsequent to the date
of our report on those statements.
In connection with our audit, nothing came to our attention that
caused us to believe that the Servicer was not in compliance with
any of the terms, covenants, provisions, or conditions in Sections
3.01, 3.02, 3.04, 3.09, 3.10, 4.02, 4.03, 4.04, and 8.08 (to the
extent such sections are applicable to Household Finance
Corporation as Servicer) of the Agreement, or Sections 3, 4.08,
4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, and 4.17 (to the
extent such sections are applicable to Household Finance
Corporation as Servicer) of the Series 1995-1, and Series 1996-A
Supplements, in conjunction with the servicing of consumer
revolving credit card receivables owned by the Household Credit
Card Master Trust I insofar as they relate to accounting matters.
It should be noted, however, that our audit was not directed
primarily toward obtaining knowledge of such noncompliance.
As a part of our audit, we obtained an understanding of the
Servicer's internal control structure over the Servicer's entire
consumer revolving credit card portfolio, including those loans
serviced under the Agreement, and the related Supplements, to the
extent considered necessary in order to assess control risk as
required by generally accepted auditing standards. The purpose of
our consideration of the internal control structure, which includes
the accounting systems, was to determine the nature, timing, and
extent of the auditing procedures necessary for expressing an
opinion on the financial statements. Such audit procedures,
however, were not performed in order to express a separate opinion
on the Household Credit Card Master Trust I.
Our audit disclosed no exceptions or errors in records relating to
credit card receivables serviced by the Servicer that, in our
opinion, Section 3.06 of the Agreement required us to report.
B. We have performed the procedure described in the following
paragraph, which was agreed to by the management of the Servicer,
the Bank of New York as Trustee, and the Credit Enhancement
Provider (together, the "Specified Users"), with respect to Section
3.06 of the Agreement, in conjunction with the servicing of
consumer revolving credit card receivables owned by the Household
Credit Card Master Trust I. This agreed-upon procedure was
performed in accordance with standards established by the American
Institute of Certified Public Accountants. The sufficiency of the
procedure is solely the responsibility of the Specified Users of
the report. Consequently, we make no representation regarding the
sufficiency of the procedure described below either for the purpose
for which this report has been requested or for any other purpose.
The procedure and associated findings are as follows:
From the Monthly Servicer's Certificates prepared by the
Servicer between January, 1996 and December, 1996, we selected the
following months and performed the following:
We have compared the mathematical calculation of each amount
set forth in the Monthly Servicer's Certificates to the Servicer's
computer reports for the months of May, 1996, and November, 1996,
for Series 1995-1 and for the month of November, 1996, for Series
1996-A and found them to be in agreement. Our comparisons were
based on records provided to us by the Servicer and the methodology
set forth in the Agreement.
With respect to the procedure performed in item B. above, we were
not engaged to, and did not, perform an audit, the objective of
which would be the expression of an opinion on the Monthly
Servicer's Certificates described above. Accordingly, we do not
express such an opinion. Had we been engaged to perform additional
procedures, other matters might have come to our attention that
would have been reported to you.
This report is intended solely for the information and use of the
Specified Users and should not be used for any other purpose.
Chicago Illinois
March 26, 1997
