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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, 1999
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 No. 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
incorporation of Servicer) Identification 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
report to be signed on behalf of the Household Credit Card Trust
1995-1 by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD CREDIT CARD TRUST 1995-1
(Registrant)
Date: May 5, 2000 By:/s/ John W. Blenke
John W. Blenke
Assistant Secretary
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Exhibit Index
Exhibit No. Exhibit
99 Copy of Independent Public Accountants Annual
Servicing Report dated March 28, 2000.
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").
A.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, 1999, and have issued our report thereon dated
January 14, 2000. We have not audited any financial statements
of the Servicer as of any date or for any period subsequent to
December 31, 1999, 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, 1996-A and Series
1996-B 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, 1999 and December, 1999, we selected
the following months and performed the following procedure:
We have compared the mathematical calculation of each
amount set forth in the Monthly Servicer's Certificates to
the Servicer's accounting records for the months of March,
1999, and May, 1999, for Series 1995-1, Series 1996-A, and
found them to be in agreement. For Series 1996-B, we noted
no activity in the series for the period between January,
1999 and December, 1999. 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.
ARTHUR ANDERSEN LLP
Chicago, Illinois
March 28, 2000
