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, 1997
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
<PAGE>
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: April 3, 1998 By:/s/John W. Blenke
John W. Blenke
Assistant Secretary
U:\WP\HFS088\95-10K\HCCMT.AMD
<PAGE>
Exhibit Index
Exhibit No. Exhibit Page No.
99 Copy of Independent Public Accountants 4
Annual Servicing Report dated March 26, 1998.
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, 1997, and have issued our
report thereon dated January 23, 1998. We have not audited
any financial statements of the Servicer as of any date or
for any period subsequent to December 31, 1997, 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, Series 1996-A, and Series
1996-B 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, 1997 and December, 1997, 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, 1997,
and November, 1997, for Series 1995-1, Series 1996-A, and
Series 1996-B 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.
/s/ Arthur Andersen LLP
Chicago Illinois
March 26, 1998
