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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
Date of Report (Date of earliest event reported) June 12, 2000
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FIRST USA BANK, NATIONAL ASSOCIATION
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(Exact name of registrant as specified in its charter)
(As Servicer on behalf of FIRST USA CREDIT CARD MASTER TRUST)
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<S> <C> <C>
Laws of the United States 33-99362 51-0269396
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(State or other jurisdiction (Commission File Number) (IRS Employer Identification
of incorporation or organization) Number)
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201 North Walnut Street, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip Code)
302/594-4117
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Registrant's telephone number, including area code
N/A
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(Former name, former address and former fiscal year, if changed since last
report)
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Item 5. Other Events
In the May reporting period, certain charge-off policies for the Trust were
changed in order to conform these policies to new guidelines adopted by the
Federal Financial Institution Examination Council. The changes relate to the
timing of recognition of losses on accounts of which the cardholder has filed
for bankruptcy or died. The implementation of these changes has caused a one-
time acceleration of certain charge-offs. Accounts of bankrupt cardholders were
previously charged off 90 days after First USA Bank, National Association, the
Servicer of the Trust, was notified of bankruptcy. These accounts will now be
charged off 60 days after notification. Accounts of deceased customers were
previously charged off after 180 days but under the new policy will be charged
off after 60 days.
These policy changes will cause a one-time increase in net credit losses
for the May Trust results. Reported Trust net credit losses for May were 8.05%
after the one time increase in charge-offs due to bankruptcy or death of 3.12%.
Without the impact of the policy change, net credit losses would have been
4.93%. The impact on one month excess spread and three month average excess
spread was approximately 3.12% and 1.04%, respectively.
Pursuant to the terms of related Series Supplements to the Pooling and
Servicing Agreement dated as of September 1, 1992, (together, the "Agreements")
as amended from time to time, between First USA Bank, National Association as
transferor (the "Transferor") and servicer (the "Servicer") and The Bank of New
York (Delaware) as trustee (the "Trustee"), relating to the Asset Backed
Certificates listed below (the "Certificates") issued by First USA Credit Card
Master Trust (the "Trust"), the Trustee made payments relating to the
collections for the period of May 1 through May 31, 2000 (the "Collection
Period"), on the Series Certificates to those persons in whose names the
Certificates were registered as of the last business day of the Collection
Period.
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<CAPTION>
Original Principal Original Principal Pooling and
Amount Amount Servicing Supplement Interest Interest Principal
Series (Class A) (Class B) Date Type Payment
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<S> <C> <C> <C> <C> <C> <C>
1994-4 726,450,000 56,550,000 June 1, 1994 Floating yes no
1994-6 750,000,000 58,380,000 July 30, 1994 Floating yes no
1994-8 500,000,000 39,157,000 November 8, 1994 Floating * no
1995-2 660,000,000 51,700,000 March 1, 1995 Floating yes no
1995-5 500,000,000 45,180,000 September 14, 1995 Floating yes no
1995-6 1,245,000,000 112,500,000 December 7, 1995 Floating yes no
1996-1 750,000,000 67,770,000 March 6, 1996 Floating yes no
1996-2 600,000,000 54,300,000 June 4, 1996 Floating yes no
1996-4 500,000,000 45,180,000 August 6, 1996 Floating yes no
1996-6 862,650,000 78,000,000 December 13, 1996 Floating yes no
1996-8 400,000,000 36,200,000 December 11, 1996 Floating yes no
1997-1 750,000,000 67,770,000 February 4, 1997 Floating yes no
1997-2 500,000,000 45,180,000 May 8, 1997 Floating yes no
1997-3 500,000,000 45,180,000 June 10, 1997 Floating yes no
1997-4 500,000,000 45,180,000 June 10, 1997 Floating yes no
1997-5 650,000,000 58,735,000 August 7, 1997 Floating yes no
1997-6 1,300,000,000 117,470,000 September 9, 1997 Fixed yes no
1997-7 500,000,000 45,180,000 September 9, 1997 Floating yes no
1997-8 780,000,000 70,482,000 September 23, 1997 Floating yes no
1997-9 500,000,000 45,180,000 October 9, 1997 Floating yes no
1997-10 700,000,000 63,253,000 December 23, 1997 Floating yes no
1998-1 700,000,000 63,253,000 May 21, 1998 Floating yes no
1998-3 800,000,000 72,289,000 June 25, 1998 Floating yes no
1998-4 700,000,000 63,253,000 July 22, 1998 Floating yes no
1998-5 650,000,000 58,735,000 August 27, 1998 Floating yes no
1998-6 800,000,000 72,289,000 August 27, 1998 Floating yes no
1998-7 750,000,000 67,770,000 September 17, 1998 Floating yes no
1998-8 500,000,000 45,180,000 September 17, 1998 Floating yes no
1998-9 650,000,000 44,828,000 December 22, 1998 Fixed yes no
1999-1 1,000,000,000 90,361,000 February 24, 1999 Floating yes no
1999-2 500,000,000 45,180,000 February 24, 1999 Floating yes no
1999-3 700,000,000 54,167,000 May 4, 1999 Floating yes no
1999-4 500,000,000 38,691,000 May 26, 1999 Floating yes no
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* Interest relating to the collection period is set aside by the Trustee to
fulfill quarterly interest payments On the February, May, August, and November
Payment Dates
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The 1994-4 Certificates, 1994-6 Certificates, 1994-8 Certificates, 1995-2
Certificates, 1995-5 Certificates, 1995-6 Certificates, 1996-1 Certificates,
1996-2 Certificates, 1996-4 Certificates, 1996-6 Certificates, 1996-8
Certificates, 1997-1 Certificates, 1997-2 Certificates, 1997-3 Certificates,
1997-4 Certificates, 1997-5 Certificates, 1997-6 Certificates, 1997-7
Certificates, 1997-8 Certificates, 1997-9 Certificates, 1997-10 Certificates,
1998-1 Certificates, 1998-3 Certificates, 1998-4 Certificates, 1998-5
Certificates, 1998-6 Certificates, 1998-7 Certificates, 1998-8 Certificates,
1998-9 Certificates, 1999-1 Certificates, 1999-2 Certificates, 1999-3
Certificates, and 1999-4 Certificates (collectively the "Certificates")
represent beneficial ownership of a portion (the "Investor Interest") of certain
receivables (the "Receivables") arising in certain credit card accounts (the
"Accounts"). Reference is made to the Monthly Certificateholders' Statements of
the Trust, filed as Exhibits 99.01, 99.02, 99.03, 99.04, 99.05, 99.06, 99.07,
99.08, 99.09, 99.10, 99.11, 99.12, 99.13, 99.14, 99.15, 99.16, 99.17, 99.18,
99.19, 99.20, 99.21, 99.22, 99.23, 99.24, 99.25, 99.26, 99.27, 99.28, 99.29,
99.30, 99.31, 99.32, and 99.33 to this report.
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Item 7. Financial Statements and Exhibits.
The following exhibits are filed as a part of this report:
(99.01) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1994-4 Certificates.
(99.02) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1994-6 Certificates.
(99.03) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1994-8 Certificates.
(99.04) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1995-2 Certificates.
(99.05) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1995-5 Certificates.
(99.06) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1995-6 Certificates.
(99.07) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1996-1 Certificates.
(99.08) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1996-2 Certificates.
(99.09) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1996-4 Certificates.
(99.10) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1996-6 Certificates.
(99.11) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1996-8 Certificates.
(99.12) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-1 Certificates.
(99.13) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-2 Certificates.
(99.14) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-3 Certificates.
(99.15) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-4 Certificates.
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(99.16) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-5 Certificates
(99.17) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-6 Certificates
(99.18) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-7 Certificates.
(99.19) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-8 Certificates.
(99.20) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-9 Certificates.
(99.21) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1997-10 Certificates.
(99.22) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-1 Certificates.
(99.23) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-3 Certificates.
(99.24) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-4 Certificates.
(99.25) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-5 Certificates.
(99.26) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-6 Certificates.
(99.27) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-7 Certficates.
(99.28) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-8 Certificates.
(99.29) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1998-9 Certificates.
(99.30) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1999-1 Certificates.
(99.31) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1999-2 Certificates.
(99.32) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1999-3 Certificates.
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(99.33) Monthly Certificateholders' Statement of the Trust which contains
information relating to the Series 1999-4 Certificates.
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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 thereunto duly authorized.
FIRST USA BANK, NATIONAL ASSOCIATION
As Servicer
By: /s/ Tracie H. Klein
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Name: Tracie H. Klein
Title: First Vice President
Date: June 12, 2000
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