ASSOCIATES CREDIT CARD RECEIVABLES CORP
8-K, EX-20.1, 2000-10-27
BUSINESS SERVICES, NEC
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Servicer's Report CONFIDENTIAL
Interest Period: July 17, 2000 to August 16, 2000 Date of Report: August 15, 2000
Associates Credit Card Master Note Trust, Series 2000-1
Class A Class B Class C Total Series Transferor Trust
Monthly Master Note Trust Activities Note Note Note Note Interest Totals
Beginning Principal Receivables Balance 5,554,994,671.80
Beginning Fin. Chrg. Receivables Balance 331,659,878.81
Beginning Total Receivables Balance 5,886,654,550.61
Beginning Special Funding Accnt Balance 0.00
Beginning Spread Account Balance 0.00
Beginning Reserve Account Balance 0.00
Initial Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00
Beginning Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 760,631,271.80
Note Principal Balance Increase 0.00 0.00 0.00 0.00
Note Principal Balance Decrease 0.00 0.00 0.00 0.00
Reductions in Invested Amount this Period
(Other than by Principal Payments) 0.00 0.00 0.00 0.00
Previous Reductions in Invested Amount
Reimbursed this Period 0.00 0.00 0.00 0.00
Ending Special Funding Accnt Balance 0.00
Ending Spread Account Balance 0.00
Ending Reserve Account Balance 0.00
Ending Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 742,220,521.60
Group I Information Series
2000-98-1		 Series 2000-98-2 Series
2000-99-1		 Series
2000-99-2		 Series 2000-99-3 Series
2000-99-4
Beginning Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 264,706,000.00 588,235,000.00
Average Rate 6.96% 6.96% 7.00% 6.91% 6.93% 7.01%
Allocable Finance Charge Collections 20,610,300.81 19,235,377.72 16,485,484.83 12,364,134.64 6,182,062.65 13,737,904.02
Allocable Principal Collections 76,974,132.50 71,839,151.05 61,569,013.71 46,176,838.78 23,088,401.95 51,307,511.42
Allocable Default Amount Due 6,930,199.94 6,467,882.97 5,543,233.31 4,157,432.05 2,078,714.46 4,619,361.09
Allocable Monthly Interest Due 5,290,929.81 4,933,711.14 4,257,390.87 3,148,050.73 1,580,559.36 3,549,741.87
Allocable Monthly Servicing Fees Due 1,470,833.33 1,372,713.33 1,176,470.00 882,354.00 441,176.67 980,391.67
Ending Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 264,706,000.00 588,235,000.00
Group I Information Series 2000-1 Total
Beginning Invested Amount 1,000,000,000.00 4,794,363,400.00
Average Rate 6.86% 6.94%
Investor Finance Charge Collections 23,354,448.52 111,969,713.19
Investor Principal Collections 484,522,261.65 815,477,311.06
Investor Default Amount Due 7,852,917.78 37,649,741.61
Investor Monthly Interest Due 5,906,554.87 28,666,938.65
Allocable Monthly Servicing Fees Due 1,666,666.67 7,990,605.67
Ending Invested Amount 1,000,000,000.00 4,794,363,400.00
Payout Event Tests
Base Rate Trigger Transferor's Interest Trigger
3 Month Average Portfolio Yield 17.70% Required Transferor Interest 387,560,874.51
3 Month Average Base Rate 8.87% Transferor Interest 742,220,521.60
Spread 8.83% Trigger Pass Test Yes
Trigger Pass Test: If Spread is >0, "Yes" Yes
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Series 2000-1
Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and supplemented, the "Master Indenture"), between Associates Credit Card Master Note Trust (the "Trust") and The Bank of New York, as indenture trustee (the "Indenture Trustee"), as supplemented by the Series 2000-1 Indenture Supplement, dated as of June 13, 2000 (the "Indenture Supplement"), between the Trust and the Indenture Trustee, Associates National Bank (Delaware), as Servicer (the "Servicer") under the Transfer and Servicing Agreement, dated as of April 1, 2000 (the "Transfer and Servicing Agreement") among Associates Credit Card Receivables Corp., as Transferor, the Servicer and the Trust, is required to prepare certain information each month regarding current distributions to the Series 2000-1 Noteholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date of August 17, 2000, and with respect to the performance of the Trust during the month of July is set forth below. Capitalized terms used in this Monthly Statement have their respective meanings set forth in the Master Indenture and the Indenture Supplement.
Current Transaction Period: Revolving Period
Any Cash Flow Shortfalls this Period No
Any Cash Flow Shortfalls from Previous Period No
Payout Event this Period: No
Group I Participants: Series 2000-98-1, Series 2000-98-2
Series 2000-99-1, Series 2000-99-2, Series 2000-99-3, Series 2000-99-4
Series 2000-1
MASTER NOTE TRUST RECEIVABLES
YIELD AND BASE RATE --
July: (31 posting days)
Yield Defaults Total
Portfolio Yield (Current Month) 27.12% 9.12% 18.00%
Portfolio Yield (Prior Month) 27.09% 9.51% 17.58%
Portfolio Yield (Two Months Ago) 26.43% 8.91% 17.52%
THREE MONTH AVERAGE PORTFOLIO YIELD 17.70%
Servicing Coupon Total
Base Rate (Current Month) 2.00% 6.86% 8.86%
Base Rate (Prior Month) 2.00% 6.87% 8.87%
Base Rate (Two Months Ago)
THREE MONTH AVERAGE BASE RATE 8.87%
Beginning Period Principal Receivables 5,554,994,671.80
Beginning Period Finance Charge Receivables 331,659,878.81
Beginning Period Discounted Receivables 0.00
Beginning Period Total Receivables 5,886,654,550.61
Removed Principal Receivables 0.00
Removed Finance Charge Receivables 0.00
Removed Total Receivables 0.00
Discounted Receivables Generated this Period 0.00
Additional Principal Receivables 0.00
Additional Finance Charge Receivables 0.00
Additional Total Receivables 0.00
Total Principal Collections this Period 484,522,261.65
Total Defaulted Principal Receivables this Period 43,622,916.45
Total Receivables Adjustments this Period 20,445,632.07
Total Finance Charge Collections this Period 129,733,837.06
Total Discounted Receivables this Period 0.00
Ending Period Principal Receivables 5,536,583,921.60
Ending Period Finance Charge Receivables 335,883,912.43
Ending Period Discounted Receivables 0.00
Ending Period Total Receivables 5,872,467,834.03
DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
31-60 Days Delinquent 123,167,464.51
61-90 Days Delinquent 82,654,748.41
91+ Days Delinquent 143,774,485.37
Total 31+ Days Delinquent 349,596,698.29
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Cash Flow Allocations
Series 2000-1
FLOATING INVESTOR PERCENTAGE 0.180018
FIXED INVESTOR PERCENTAGE 0.180018
FINANCE CHARGE ALLOCATIONS Class A Class B Class C Total
AVAILABLE FUNDS
Total Trust Finance Charge Collections 129,733,837.06
Investor Percentage 0.180018
Investor Finance Charge Collections 23,354,448.52 23,354,448.52
Excess Finance Charge Collections allocated to Series 0.00 0.00
Available Finance Charge Collections 23,354,448.52 23,354,448.52
CASH FLOW ALLOCATIONS
Class A Distributions
(1) Class A Monthly Interest 4,418,318.06
(2) Class A Monthly Interest Previously Due 0.00
(3) Class A Monthly Additional Interest 0.00
(4) Class A Monthly Additional Interest Previously Due 0.00
Total Class A Monthly Interest 4,418,318.06 4,418,318.06
Class B Distributions
(5) Class B Monthly Interest 614,868.32
(6) Class B Monthly Interest Previously Due 0.00
(7) Class B Monthly Additional Interest 0.00
(8) Class B Monthly Additional Interest Previously Due 0.00
Total Class B Monthly Interest 614,868.32 614,868.32
(9) Total Monthly Servicing Fee for Series 1,666,666.67
(10) Total Servicing Fee for Series Previously Due 0.00
(11) Class A Prepayable Increase Amount Interest 0.00 0.00
(12) Class B Prepayable Increase Amount Interest 0.00 0.00
(13) Investor Default Amount 7,852,917.78
(14) Investor Charge-Offs 0.00 0.00 0.00 0.00
(15) Reallocated Principal Collections Previously Due 0.00 0.00 0.00 0.00
Class C Distributions
(16) Class C Monthly Interest 873,368.49
(17) Class C Monthly Interest Previously Due 0.00
(18) Class C Monthly Additional Interest 0.00
(19) Class C Monthly Additional Interest Previously Due 0.00
(20) Class C Prepayable Increase Amount Interest 0.00
Total Class C Interest 873,368.49 873,368.49
(21) Funds Required per Note Agreement under Sections 2.07, 2.08 & 2.09 0.00
(22) Funds Required per Note Agreement under Sections 2.04 (e) & 7.01 0.00
Spread Account Distributions
(23) Class C Spread Account Required Deposit 0.00
TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER SERIES' ALLOCATIONS 7,928,309.19
EXCESS SPREAD ALLOCATED TO OTHER SERIES' 0.00
EXCESS SPREAD RELEASED TO TRANSFEROR 7,928,309.19
PRINCIPAL ALLOCATIONS Class A Class B Class C Total
AVAILABLE FUNDS
Total Trust Principal Collections 484,522,261.65
Investor Percentage 0.180018
Investor Principal Collections 87,222,813.03
Shared Principal Collections from other Series' 397,299,448.62
Available Principal Collections 484,522,261.65
Controlled Amoritization Amount 0.00 0.00 0.00 0.00
Partial Amoritization Amount 0.00 0.00 0.00 0.00
Deficiency Controlled Amoritization Amount 0.00 0.00 0.00 0.00
Monthly Principal Amount 0.00 0.00 0.00 0.00
Principal Shortfall
Reallocated Principal to other Series' 0.00 0.00 0.00
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Cash Reconciliation
Oct-00
Group 1 Coupon Rate Balance Interest Payments
Series 2000-98-1, Class A 6.86% $ 662,500,000.00 $ 3,915,404.65
Series 2000-98-1, Class B 7.09% $ 87,500,000.00 $ 533,915.52
Series 2000-98-1, Class C 7.38% $ 132,500,000.00 $ 841,609.64
Series 2000-98-2, Class A 6.86% $ 617,647,000.00 $ 3,646,634.74
Series 2000-98-2, Class B 7.08% $ 82,353,000.00 $ 501,819.68
Series 2000-98-2, Class C 7.38% $ 123,628,000.00 $ 785,256.72
Series 2000-99-1, Class A 6.91% $ 529,412,000.00 $ 3,152,380.09
Series 2000-99-1, Class B 7.11% $ 70,588,000.00 $ 432,472.58
Series 2000-99-1, Class C 7.38% $ 105,882,000.00 $ 672,538.20
Series 2000-99-2, Class A 6.79% $ 397,058,400.00 $ 2,320,655.25
Series 2000-99-2, Class B 7.08% $ 52,941,600.00 $ 322,986.11
Series 2000-99-2, Class C 7.38% $ 79,412,400.00 $ 504,409.37
Series 2000-99-3, Class A 6.86% $ 198,500,000.00 $ 1,171,905.14
Series 2000-99-3, Class B 6.86% $ 26,500,000.00 $ 156,450.81
Series 2000-99-3, Class C 7.38% $ 39,706,000.00 $ 252,203.41
Series 2000-99-4, Class A 6.91% $ 441,176,000.00 $ 2,626,211.85
Series 2000-99-4, Class B 7.17% $ 58,824,000.00 $ 363,081.52
Series 2000-99-4, Class C 7.38% $ 88,235,000.00 $ 560,448.50
Series 2000-1, Class A 6.75% $ 760,000,000.00 $ 4,418,318.06
Series 2000-1, Class B 6.97% $ 102,500,000.00 $ 614,868.32
Series 2000-1, Class C 7.38% $ 137,500,000.00 $ 873,368.49
Weighted Average Coupon of all Notes 6.94% $ 4,794,363,400.00 $ 28,666,938.65
Weighted Average Coupon of 6.87% $ 4,087,500,000.00
Class A and Class B Notes
Current Transaction Period: Revolving Period
CASH FLOW REQUIREMENTS Series 2000-98-1
Class A Class B Class C Total
Principal Distribution Due this Period $ - $ - $ - $ -
Interest Distribution Due this Period $ 3,915,404.65 $ 533,915.52 $ 841,609.64 $ 5,290,929.81
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,470,833.33 $ 1,470,833.33
Total Required Distribution $ 3,915,404.65 $ 533,915.52 $ 2,312,442.97 $ 6,761,763.14
Total Required Distribution to Class A & Class B investors
Series 2000-98-2
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 3,646,634.74 $ 501,819.68 $ 785,256.72 $ 4,933,711.14
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,372,713.33 $ 1,372,713.33
Total Required Distribution $ 3,646,634.74 $ 501,819.68 $ 2,157,970.05 $ 6,306,424.47
Total Required Distribution to Class A & Class B investors
Series 2000-99-1
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 3,152,380.09 $ 432,472.58 $ 672,538.20 $ 4,257,390.87
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,176,470.00 $ 1,176,470.00
Total Required Distribution $ 3,152,380.09 $ 432,472.58 $ 1,849,008.20 $ 5,433,860.87
Total Required Distribution to Class A & Class B investors
Series 2000-99-2
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 2,320,655.25 $ 322,986.11 $ 504,409.37 $ 3,148,050.73
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 882,354.00 $ 882,354.00
Total Required Distribution $ 2,320,655.25 $ 322,986.11 $ 1,386,763.37 $ 4,030,404.73
Total Required Distribution to Class A & Class B investors
Series 2000-99-3
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 1,171,905.14 $ 156,450.81 $ 252,203.41 $ 1,580,559.36
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 441,176.67 $ 441,176.67
Total Required Distribution $ 1,171,905.14 $ 156,450.81 $ 693,380.08 $ 2,021,736.03
Total Required Distribution to Class A & Class B investors
Series 2000-99-4
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 2,626,211.85 $ 363,081.52 $ 560,448.50 $ 3,549,741.87
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 980,391.67 $ 980,391.67
Total Required Distribution $ 2,626,211.85 $ 363,081.52 $ 1,540,840.17 $ 4,530,133.54
Total Required Distribution to Class A & Class B investors
Series 2000-1
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 4,418,318.06 $ 614,868.32 $ 873,368.49 $ 5,906,554.87
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,666,666.67 $ 1,666,666.67
Total Required Distribution $ 4,418,318.06 $ 614,868.32 $ 2,540,035.16 $ 7,573,221.54
Total Required Distribution to Class A & Class B investors
CASH DISBURSEMENTS
Servicer Payment to trustee for Series 2000-98-1 $ 5,290,929.81
Servicer Payment to trustee for Series 2000-98-2 $ 4,933,711.14
Servicer Payment to trustee for Series 2000-99-1 $ 4,257,390.87
Servicer Payment to trustee for Series 2000-99-2 $ 3,148,050.73
Servicer Payment to trustee for Series 2000-99-3 $ 1,580,559.36
Servicer Payment to trustee for Series 2000-99-4 $ 3,549,741.87
Servicer Payment to trustee for Series 2000-1 $ 5,906,554.87
Total Servicer Payment to trustee for all Series' $ 28,666,938.65
Trustee Payment to Series 2000-98-1 Class C $ 841,609.64
Trustee Payment to Series 2000-98-2 Class C $ 785,256.72
Trustee Payment to Series 2000-99-1 Class C $ 672,538.20
Trustee Payment to Series 2000-99-2 Class C $ 504,409.37
Trustee Payment to Series 2000-99-3 Class C $ 252,203.41
Trustee Payment to Series 2000-99-4 Class C $ 560,448.50
Trustee Payment to Series 2000-1 Class C $ 873,368.49
Total Trustee Payment to all Class C Investor's $ 4,489,834.33


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