<PAGE>
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
April 15, 1998
------------------------------
Travelers Bank Credit Card Master Trust I
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Delaware 000-23987 52-2069082
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State of other (Commission File Number) (IRS Employer
jurisdiction of incorporation Identification No)
Suite 300B
100 Commerce Drive
Newark, Delaware 19713
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(302) 451-6456
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<PAGE>
TRAVELERS BANK CREDIT CARD MASTER TRUST I
CURRENT REPORT ON FORM 8-K
ITEM 5. OTHER EVENTS.
Information relating to (i) the distributions to Certificateholders for the
April 15, 1998 Distribution date in respect of the Class A 6.00% Asset-Backed
Certificates, Series 1998-1 Issued by Travelers Bank Credit Card Master Trust I
and (ii) the performance of Travelers Bank Credit Card Master Trust I and (iii)
certain other information relating to the Class A 6.00% Asset Backed
Certificates, Series 1998-1 is contained in the Monthly Report provided to
Certificateholders pursuant to the Pooling and Servicing Agreement (the "Pooling
and Servicing Agreement") dated as of March 1, 1998 among CC Credit Card
Corporation, as Transferor, Travelers Bank & Trust fsb, as Servicer and the
Bank of New York as Trustee. Capitalized terms used herein but not otherwise
defined shall have the meanings ascribed to them in the Pooling and Servicing
Agreement.
ITEM 7. FINANCIAL STATEMENT, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
EXHIBITS
Exhibit Number Exhibit Description
- -------------- -------------------
20.1 Monthly report relating to the April 15, 1998 Distribution
Date in respect of the Class A.6.00% Asset-Backed
Certificates, Series 1998-1 issued by Travelers Bank Credit
Card Master Trust I.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized
Dated: 4/15/98 TRAVELERS BANK CREDIT CARD MASTER TRUST I
By: TRAVELERS BANK & TRUST,
FSB,
AS SERVICER
By: /s/ John J. Rosko
----------------------------
Name: John J. Rosko
Title: Vice President
<PAGE>
INDEX OF EXHIBITS
Exhibit Number Exhibit Description
- -------------- -------------------
20.1 Monthly Report relating to the April 15, 1998 Distribution
Date in respect of the Class A 6.00% Asset-Backed
Certificates, Series 1998-1 issued by Travelers Bank Credit
Card Master Trust I.
<PAGE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT SERIES 1998-1
TRAVELERS BANK & TRUST, FSB
TRAVELERS BANK CREDIT CARD MASTER TRUST I
----------------------------------
MONTHLY PERIOD ENDING 3/31/98
----------------------------------
The information which is required to be prepared with respect to this
Distribution Date the 15th of April, 1998 and with respect to the performance of
the trust during the month of March, 1998 is set forth below.
Capitalized terms used in this statement have their respective meanings set
forth in the Pooling and Servicing Agreement
A. Information Regarding the Current Monthly Distribution to Certificate
holders (Stated on the Basis of $1,000 Original Certificate Principal
Amount)
<TABLE>
<S> <C> <C>
1. The amount of distribution in respect of Class A Monthly Principal $0.00000000
2. The amount of distribution in respect of Class B Monthly Principal $0.00000000
3. The amount of distribution in respect of Class C Monthly Principal $0.00000000
4. The amount of the distribution in respect of Class A Monthly Interest $6.66666813
5. The amount of distribution in respect of any accrued and unpaid
Class A Monthly Interest. $0.00000000
6. The amount of distribution in respect of Class A Additional Interest $0.00000000
7. The Amount of distribution in respect of any accrued and unpaid
Class B Monthly Interest $0.00000000
8. The amount of distribution in respect of any accrued and unpaid
Class B Monthly Interest $0.00000000
9. The amount of distribution in respect of Class B Additional Interest $0.00000000
10. The amount of the distribution in respect of Class C Monthly Interest $0.00000000
11. The amount of distribution in respect of any accrued and unpaid
Class C Monthly Interest $0.00000000
12. The amount of distribution in respect of Class C Additional Interest $0.00000000
</TABLE>
<PAGE>
1. PRINCIPAL RECEIVABLES
---------------------
<TABLE>
<S> <C> <C> <C>
(a) The aggregate amount of Collections of Principal Receivables processed
during the related Monthly Period, which were allocable in respect of
Class A Certificates. $ 55,607,524.22
(b) The aggregate amount of Collections of Principal Receivables processed
during the related Monthly Period, which, were allocable in respect of
Class B Certificates $ 3,052,031.57
(c) The aggregate amount of Collections of Principal Receivables processed
during the related. Monthly Period, which were allocable in respect
of Class C Certificates $ 2,446,534.69
2. PRINCIPAL RECEIVABLES IN THE TRUST
----------------------------------
(a) The aggregate amount of Principal Receivables in the Trust as of the
and of the day on the last day of the Monthly Period $328,960,361.91
(b) The amount of Principal Receivables in the Trust represented by the
Investor Interest of Series 1998-1 as of the end of the day on the
last day of the Monthly Period $250,000,000.00
(c) The amount of Principal Receivables in the Trust represented by the
Class A Investor Interest of Series 1998-1 as of the end of the day on
the last day of the Monthly Period $227,500,000.00
(d) The amount of Principal Receivables in the Trust represented by the
Class B Investor Interest of Series 1998-1 as of the end of the last
day of the Monthly Period $ 12,500,000.00
(e) The amount of Principal Receivables in the Trust represented by the
Class C Investor Interest of Series 1998-1 as of the end of the day on
the last day of the Monthly Period $ 10,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
(f) The Floating Investor Percentage with respect to the Monthly Period 74.68%
(g) The Class A Floating Investor percentage with respect to the Monthly
Period 67.96%
(h) The Class B Floating Investor Percentage with the respect to the
Monthly Period 3.73%
(i) The Class C Floating Investor Percentage with respect to the Monthly
Period 2.99%
(j) The Principal Investor Percentage with respect to the Monthly Period. 74.68%
(k) The Class A Principal Investor Percentage with respect to the Monthly
Period 67.96%
(l) The Class B Principal Investor Percentage with respect to the Monthly
Period 3.73%
(m) The Class C Principal Investor Percentage with respect to the Monthly
Period 2.99%
</TABLE>
3. DELINQUENT BALANCES
-------------------
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the related Monthly Period.
<TABLE>
<CAPTION>
Percentage of Aggregate
Total Receivables Balance
----------------- -------
<S> <C> <C>
(a) 31-60 days 0.38% $1,235,811.48
(b) 61-60 days 0.29% $ 963,946.61
(c) 91-120 days 0.30% $ 983,402.59
(d) Over 120 days 0.68% $2,238,865.74
Total 1.65$ $5,422,026.40
</TABLE>
<PAGE>
4. INVESTOR DEFAULT AMOUNT
-----------------------
<TABLE>
<S> <C> <C> <C>
(a) The Aggregate Investor Default Amount for the related Monthly Period $577,599.56
(b) The Class A Investor Default Amount for the related Monthly Period $525,624.88
(c) The Class B Investor Default Amount for the related Monthly Period $ 28,849.04
(d) The Class C Investor Default Amount for the related Monthly Period $ 23,125.64
</TABLE>
<PAGE>
5. INVESTOR CHARGE-OFFS
--------------------
<TABLE>
<S> <C> <C>
(a) The aggregate amount of Class A Investor Charge-Offs for the related $0.00
Monthly Period
(b) The aggregate amount of Class A Investor Charge-Offs set forth in 5
(a) above per $1,000 of original certificate principal amount $0.00
(c) The aggregate amount of Class B Investor Charge-Offs for the related
Monthly Period $0.00
(d) The aggregate amount of Class B Investor Charge-Offs set forth in 5
(a) above per $1,000 of original certificate principal amount $0.00
(e) The aggregate amount of Class C Investor Charge-Offs for the related
Monthly Period $0.00
(f) The aggregate amount of Class C Investor Charge-Offs set forth in 5
(a) above per $1,000 of original certificate principal amount $0.00
(g) The aggregate amount of Class A Investor Charge-Offs reimbursed on the
Distribution Date $0.00
(h) The aggregate amount of Class A Investor Charge-Offs set forth in 5
(g) above per $1,000 original certificate principal amount $0.00
(i) The aggregate amount of Class B Investor Charge-Offs reimbursed on the
Distribution Date $0.00
(j) The aggregate amount of Class B Investor Charge-Offs set forth in 5
(g) above per $1,000 original certificate principal amount $0.00
(k) The aggregate amount of Class C Investor Charge-Offs reimbursed on the
Distribution Data $0.00
(l) The aggregate amount of Class C Investor Charge-Offs set forth in 5
(g) above per $1,000 original certificate principal amount. $0.00
</TABLE>
<PAGE>
6. INVESTOR SERVICING FEE
----------------------
<TABLE>
<S> <C> <C>
(a) The amount of the Class A Servicing Fee payable by the Trust to the
Servicer for the related Monthly Period $ 315,972.00
(b) The amount of the Class B Servicing Fee payable by the Trust to the
Servicer for the related Monthly Period $ 17,361.00
(c) The amount of the Class C Servicing Fee payable by the Trust to the
Servicer for the related Monthly Period $ 13,889.00
7. REALLOCATIONS
-------------
(a) The amount of Reallocated Class C Principal Collections with respect
to this Distribution Date $ 0.00
(b) The amount of Reallocated Class B Principal Collections with respect
to this Distribution Date $ 0.00
(c) The Class C Investor Interest as of the close of business on this
Distribution Date $10,000,000.00
(d) The Class B Investor Interest as of the close of business on this
Distribution Date $12,500,000.00
8. PRINCIPAL FUNDING ACCOUNT
-------------------------
(a) The principal amount on deposit in the Principal Funding Account on
this Distribution Date (prior to withdrawals) $ 0.00
(b) The Deficit Controlled Accumulation Amount for the related Monthly
Period $ 0.00
(c) The Principal Funding Account Investment Proceeds deposited in the
Collections Account to be treated as Class A Available Funds $ 0.00
</TABLE>
<PAGE>
9. AVAILABLE FUNDS
---------------
<TABLE>
<S> <C> <C>
(a) The amount of Class A Available Funds on deposit in the Collections
Account for this Distribution Date $2,546,367.90
(b) The amount of Class B Available Funds on deposit in the Collections
Account for this Distribution Date $ 139,757.98
(c) The amount of Class C Available Funds on deposit in the Collections
Account for this Distribution Date $ 112,031.20
10. PORTFOLIO YIELD
---------------
(a) The Net Portfolio Yield for the related Monthly Period 10.66%
(b) The Base Rate for the related Monthly Period 7.46%
</TABLE>
TRAVELERS BANK & TRUST, FSB
Servicer
By: /s/ John J. Rosko
-----------------------------
Name: John J. Rosko
Title: Vice President
NOTE TO SCHEDULE: EXCESS SPREAD IMPACTED BY MISMATCH BETWEEN NUMBER OF DAYS
IN FINANCE CHARGE COLLECTIONS INCLUDED DURING MONTH AND NUMBER OF DAYS USED
IN ACCRUAL OF INTEREST TO CERTIFICATEHOLDERS.
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
SERIES 1998-1
TRAVELERS BANK & TRUST, FSB
TRAVELERS BANK CREDIT CARD MASTER TRUST I
------------------------------------------
MONTHLY PERIOD ENDING 3/31/1998
------------------------------------------
<TABLE>
<S> <C> <C>
1. The Aggregate amount of the Investor Percentage of Collections of Principal
Receivables (net of Discount Option Collections) $61,106,090.48
2. The aggregate amount of the Investor Percentage of Collections of Finance
Charge Receivables (including Annual Membership Fees, Late Fees, Cash
Advance Fees and Other Fees) $ 1,867,607.48
3. The aggregate amount of the Investor Percentage of Discount Option
Collections $ 930,549.60
4. The aggregate amount of funds allocable to Series 1998-1 in respect of
Finance Charge Receivables $ 2,798,157.08
5. The aggregate amount of funds on deposit in the Principal Funding Account
allocable to Series 1998-1 Certificates after taking into account deposits,
but prior to withdrawals on the related Transfer Date $ 0.00
6. The excess, if any, of the Required Class C Invested Amount over the Class
C Invested Amount (as of the related Transfer Date) $ 0.00
7. The Class C Invested Amount on the Transfer Date of the current calendar
month, after giving effect to the deposits and withdrawals specified above,
is equal to $10,000,000.00
8. The amount of Monthly Interest, Deficiency Amounts, and Additional Interest
payable to the
(i) Class A Certificateholders $ 1,516,667.00
(ii) Class B Certificateholders $ 0.00
(iii) Class C Interests $ 0.00
9. The amount of principal payable to the
(i) Class A Certificateholders $ 0.00
(ii) Class B Certificateholders $ 0.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(iii) Class C Interests $ 0.00
10. The sum of all amounts payable to the
(i) Class A Certificateholders $1,516,667.00
(ii) Class B Certificateholders $ 0.00
(iii) Class C Interests $ 0.00
</TABLE>
To the knowledge of the undersigned, no Series 1998-1
Pay Out Event or Trust Payout Event has occurred except as described below
None
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 15th day of April.
TRAVELERS BANK & TRUST, FSB
SERVICER
By: /s/ John J. Rosko
-------------------------
Name: John J. Rosko
Title: Vice President
<PAGE>
Exhibit 99
MONTHLY PAYMENT INSTRUCTIONS AND
NOTIFICATION TO THE TRUSTEE
SERIES 1998-1
TRAVELERS BANK & TRUST, FSB
TRAVELERS CREDIT CARD MASTER TRUST 1
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MONTHLY PERIOD ENDING 3/31/98
------------------------------------
Capitalized terms used in this notice have their respective meanings set
forth in the Pooling and Servicing Agreement. References herein to certain
sections and subsections are references to the respective sections and
subsections of the Pooling and Servicing Agreement. This notice is delivered
pursuant to the Series 1998-1 Supplement.
(A) Travelers Bank & Trust, FSB is the Servicer under the Pooling and
Servicing Agreement.
(B) The undersigned is a Servicing Officer.
(C) The date of this notice is on or before the related Transfer Date under
the Pooling and Servicing Agreement.
I. Instructions to Make Withdrawals
Pursuant to the Supplement, the Servicer does hereby instruct the Trustee (i)
to make the following withdrawals from the Collection Account with respect to
the April 15, 1998, Distribution Date and (ii) to apply the proceeds of such
withdrawals in accordance with referenced sections of the Supplement:
A) Class A Available Funds (Section 4.5(a)):
-----------------------------------------
<TABLE>
<S> <C> <C>
(1) Class A Monthly Interest $1,516,667.00
(2) Overdue Class A Monthly Interest 0.00
(3) Class A Additional Interest 0.00
(4) Class A Monthly Servicing Fee 315,972.00
(5) Overdue Class A Monthly Servicing Fee 0.00
(6) Class A Investor Default Amount (to be treated
as Available Investor Principal Collections) 525,624.88
(7) Excess Spread 188,104.02
</TABLE>
<PAGE>
B) Class B Available Funds (Section 4.5(b)):
-----------------------------------------
<TABLE>
<S> <C> <C>
(1) Class B Monthly Interest $ 0.00
(2) Overdue Class B Monthly Interest 0.00
(3) Class B Additional Interest 0.00
(4) Class B Monthly Servicing Fee 17,361.00
(5) Overdue Class B Monthly Servicing Fee 0.00
(6) Excess Spread 122,396.98
</TABLE>
C) Class C Available Funds (Section 4.5(c)):
-----------------------------------------
<TABLE>
<S> <C> <C>
(1) If Travelers Bank & Trust, FSB or the Trustee is
no longer the Servicer, Class C Servicing Fee $ 0.00
(2) If Travelers Bank & Trust, FSB or the Trustee is
no longer the Servicer, Overdue Class C Servicing Fee 0.00
(3) Excess Spread 112,031.20
</TABLE>
<PAGE>
D) Application of Excess Spread, Excess Finance Charge Collections and
Excess Transferor Finance Charge Collections (Section 4.7)
----------------------------------------------------------
<TABLE>
<S> <C> <C>
Excess Spread $ 442,532.20
Excess Finance Charge Collections
Excess Transferor Finance Charge Collections 0.00
Total 422,532.20
(1) Class A Required Amount 0.00
(2) Class A Investor Charge-offs 0.00
(3) Portion of Class B Required Amount payable in
respect of interest and servicing 0.00
(4) Remaining portion of Class B Required Amount (to be
treated as Available Investor Principal Collections 28,849.04
(5) Reimbursement of prior reductions in Class B
Invested Amount 0.00
(6) Class C Monthly Interest, Overdue Class C Monthly
Interest and Class C Additional Interest
(7) Class C Servicing Fee 13,889.00
(8) Class C Default Amount (to be treated as
Available Investor Principal Collections) 23,125.64
(9) Reimbursement of prior reductions in Class C
Invested Amount 0.00
(10) Excess of Required Reserve Account Amount over
Reserve Account Balance (deposit to Reserve Account) 0.00
(11) Excess Finance Charge Collection (available for
other series in Group One) 356,668.52
</TABLE>
E) Reallocated Principal Collections (section 4.8):
------------------------------------------------
<TABLE>
<S> <C> <C>
(1) Payable in respect of Class A Required Amount $ 0.00
(2) Payable in respect of Class B Required Amount 0.00
</TABLE>
F) Reductions in Class C Invested Amount (Section 4.6):
----------------------------------------------------
<TABLE>
<S> <C> <C>
(1) Class A Investor Default Reimbursement $ 0.00
(2) Class B Investor Default Reimbursement 0.00
</TABLE>
G) Reductions in Class B Invested Amount (Section 4.6):
----------------------------------------------------
<TABLE>
<S> <C> <C>
(1) Class A Investor Default Reimbursement $ 0.00
</TABLE>
H) Application of Available Investor Principal Collections
-------------------------------------------------------
<TABLE>
<S> <C>
Principal Allocation Percentage of Collections of
Principal Receivables (net of Reallocated Principal
Collections) $61,106,090.48
Default Reimbursement (treated as Available Investor
Principal Collections) 557,599.56
Shared Principal Collections (from other Series in
Group One) 0.00
Shared Transferor Principal Collections 0.00
Total 61,683,690.04
</TABLE>
<PAGE>
I) Available Investor Principal Collections During the Revolving Period
(Section 4.5(d))
----------------
<TABLE>
<S> <C> <C>
(1) Class C Monthly Principal $ 0.00
(2) Shared Principal Collections 61,683,690.04
</TABLE>
J) Available Investor Principal Collections During the Controlled
Accumulation or Rapid Amortization Period (Section 4.5(e))
----------------------------------------------------------
<TABLE>
<S> <C> <C>
(1) Class A Monthly Principal (Deposited to Principal
Funding Account) $ 0.00
(2) Class B Monthly Principal 0.00
(3) Class C Monthly Principal 0.00
(4) Shared Principal Collections (available for other
Series in Group One) 0.00
(5) Deficit Controlled Accumulation Amount (if any) 0.00
</TABLE>
K) Withdrawals from the Principal Funding Account
(Section 4.11)
--------------
<TABLE>
<S> <C> <C>
(1) Amount to be withdrawn from the Principal Funding
Account and deposited into the Distribution Account $ 0.00
(2) Principal Funding Account Investment Proceeds
withdrawn from Principal Funding Account for
deposit to the Collections Account
(treated as Class A Available Funds) 0.00
</TABLE>
L) Reserve Account Deposits and Withdrawals (Section 4.13)
-------------------------------------------------------
<TABLE>
<S> <C> <C>
(1) Excess of Reserve Account Balance over Reserve
Account Required Amount (treated as Class A
Available Funds) $ 0.00
(2) Excess of Required Reserve Account Amount Over
Reserve Account Balance (deposit to Reserve Account) 0.00
</TABLE>
M) Accrued and Unpaid Amounts
--------------------------
<TABLE>
<S> <C> <C>
(1) Class A Deficiency Amount 0.00
(2) Class B Deficiency Amount 0.00
(3) Accrued and Unpaid Monthly Servicing Fees 0.00
(4) Class A Investor Charge-Off 0.00
(5) Class B Investor Charge-Off 0.00
</TABLE>
<PAGE>
IN WITNESS WHEREOF, the undersigned has duly executed this certificate this
15th day of April, 1998.
as Servicer
By:
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