MONTHLY CERTIFICATEHOLDERS' STATEMENT 1.
GENERAL ELECTRIC CAPITAL CORPORATION
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JCP MASTER CREDIT CARD TRUST
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9.625% ASSET BACKED CERTIFICATES
SERIES C
CUSIP NO. 466115AC6
Under Section 5.2 of the Master Pooling and Servicing Agreement dated
as of September 5, 1988, as amended by Amendment No. 1 dated October 15, 1997,
and Amendment No. 2 dated as of October 15, 1999 and as supplemented by the
Series A, Series B, Series C, Series D and Series E Supplements thereto (as so
amended and supplemented, the "Pooling and Servicing Agreement"), by and among
JCP Receivables, Inc., J.C. Penney Company, Inc. ("JCPenney"), as Servicer and
The Fuji Bank and Trust Company (the "Trustee"), General Electric Capital
Corporation (as the successor and assign of JCPenney pursuant to the Assignment
and Assumption Agreement dated as of December 6, 1999) is required to prepare
certain information for each Series each month regarding current distribu- tions
to Certificateholders of such Series and the performance of the JCPMaster Credit
Card Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Funding Date of June 15, 2000, and
with respect to the performance of the Trust during the month of May, 2000, is
set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Investor Certificate of this Series (a
"Certificate"). Certain other infor- mation is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Pooling and Servicing Agreement.
A. Information Regarding the Current Monthly Distribution (Stated on the
Basis of $1,000 Original Certificate Principal Amount) for this Series.
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1. The total amount of the distribution to Certificateholders per
$1,000 original Certificate Principal amount ................ $ 48.13
2. The amount of the distribution set forth in paragraph 1 above
allocable to Certificate Principal, per $1,000 original
Certificate Principal amount................................. $ 1,000.00
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3. The amount of the distribution set forth in paragraph 1 above
allocable to Certificate Interest, per $1,000 original
Certificate Principal amount................................. $ 48.13
B. Information Regarding the Funding Accounts (Stated on the Basis of
$1,000 Original Certificate Principal Amount) for this Series.
1. The total amount on deposit in the Principal Funding Account
allocable to Certificate Principal per $1,000 original
Certificate Principal amount................................. $ 0.00
2. The total amount on deposit in the Interest Funding Account
allocable to Certificate Interest, per $1,000 original
Certificate amount .......................................... $ 0.00
C. Information Regarding the Performance of the Trust.
1. Collection of Principal Receivables
(a) The aggregate amount of Collections of Principal
Receivables processed which were allocated in respect
of the Certificates of this
Series.............................................. $ 0.00
(b) The Discounted Percentage in respect of the
Collections of Principal Receivables set forth in
paragraph 1.(a) above............................... 0.00%
(c) The net amount of Collections of Principal
Receivables processed which were allocated in respect
of the Certificates of this Series.................. $ 0.00
2. Collection of Finance Charge Receivables
(a) The aggregate amount of Collections of Finance Charge
Receivables processed which were allocated in respect
of the Certificates of this
Series.............................................. $ 0.00
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(b) The aggregate amount of Discount Option Receivable
Collections which were allocated in respect of the
Certificates of this Series......................... $ 0.00
(c) The aggregate amount of Collections of Finance Charge
Receivables processed in respect of the Certificates
of other Series which were allocated in respect of
the Certificates of this Series..................... $ 0.00
(d) The net amount of Collections of Finance Charge
Receivables which were allocated in respect of the
Certificates of this Series ........................ $ 0.00
3. Net Recoveries
The aggregate amount of Net Recoveries which were allocated in
respect of the Certificates of this Series................... $ 0.00
4. Principal Receivables in the Trust
(a) The aggregate amount of Principal Receivables in the
Trust as of the end of the day on the last day of
such month (which reflects the Principal Receivables
represented by the JCPR Amount and by the Aggregate
Investor Amount).................................... $ 1,469,894,472
(b) The amount of Principal Receivables in the Trust
represented by the Aggregate Investor Amount as of
the end of the day on the last day of such month
.................................................... $ 792,682,926
(c) The Aggregate Investor Amount set forth in paragraph
4(b) above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph 4(a)
above............................................... 53.93%
(d) The Aggregate Investor Amount for this Series as a
percentage of the aggregate amount of Principal
Receivables in the Trust as set forth in paragraph
4(a) above.......................................... 0.00%
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5. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts
in the Trust which were delinquent as of the end of the day on
the last day of such month:
Aggregate
Account
Balance
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(a) 1 month:............................ $ 21,655,753
(b) 2 months:........................... 11,841,763
(c) 3 months:........................... 10,440,453
(d) 4 months:........................... 8,223,007
(e) 5 months:........................... 1,179
(f) 6 or more months:................... 0
Total: $ 52,162,155
6. Investor Default Amount
The aggregate amount of the Investor Default Amount which was
allocated in respect of the Certificates of this
Series....................................................... $ 0.00
7. Investor Charge Offs; Reimbursement of Charge Offs
(a) The aggregate amount of Investor Charge Offs which
was allocated in respect of the Certificates of this
Series.............................................. $ 0.00
(b) The amount of the Investor Charge Offs set forth in
paragraph 7(a) above, per $1,000 original Certificate
Principal amount (which will have the effect of
reducing pro rata, the amount of each
Certificateholder's investment) allocated to this
Series.............................................. $ 0.00
(c) The aggregate amount reimbursed to the Trust in the
current month from drawings under the Letter of
Credit in respect of Investor Charge Offs in prior
months.............................................. $ 0.00
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(d) The amount set forth in paragraph 7(c) above, per
$1,000 original Certificate Principal amount (which
will have the effect of increasing, pro rata, the
amount of each Certificateholder's investment)
allocated to this Series............................ $ 0.00
8. Investor Monthly Servicing Fee
The amount of the Investor Monthly Servicing Fee for this
Series for the preceding Monthly Period payable by the Trust
to the Servicer.............................................. $ 0.00
9. Investor Monthly Facility Fee
The amount of the Investor Monthly Facility Fee for this
Series for the preceding Monthly Period payable by the Trust
to JCPR...................................................... $ 0.00
10. Available L/C Amount
The Available L/C Amount as of the close of business on the
Distribution Date specified above for this
Series....................................................... $ 0.00
D. The Pool Factor.
The Pool Factor (which represents the ratio of the Adjusted
Investor Amount for this Series as of the end of the last day
of such month to the applicable Initial Investor Amount). (The
amount of a Certificateholder's pro rata share of the Investor
Amount can be determined by multiplying the original
denomination of the Holder's Certificate by the Pool Factor)
............................................................. 0.0000000
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GENERAL ELECTRIC CAPITAL CORPORATION,
as Servicer
By: /s/ Michael W. Towe
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Title: Attorney-in-Fact
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