<PAGE> 1
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): November 15, 1996
ADVANTA CREDIT CARD MASTER TRUST
(Exact name of Registrant as specified in its charter)
New York Reg. No 33-73828 Not Required
(State or other (Commission File (I.R.S.Employer
jurisdiction of Number) Identification
incorporation) Number)
Advanta National Bank USA
Attention: Gene S. Schneyer
Brandywine Corporate Center
650 Naamans Road, Claymont, Delaware 19703
(Address of Owner/Servicer)
(Address of principal executive offices)
(302) 791-4400 (Telephone Number of Owner/Servicer)
(Registrant's Telephone Number)
<PAGE> 2
Items 1-4 Inapplicable
Item 5 Other Events
Information relating to the distributions to Certificateholders for the
October 1996 Monthly Period of the Trust in respect of the Class A-1 5.95%
Fixed Rate Asset Backed Certificates, Series 1992-3, the Class A-2 Floating
Rate Asset Backed Certificates, Series 1992-3, Floating Rate Asset Backed
Certificates, Series 1993-2, Floating Rate Asset Backed Certificates, Series
1993-4 and, Floating Rate Asset Backed Certificates, Series 1994-1, (the
"Certificates") issued by the Registrant and to the performance of the Trust
(including collections of Principal Receivables and Finance Charge Receivables
Principal Receivables in the Trust, delinquent balances in Accounts, the
Investor Default Amounts, the amount of Investor Charge Offs, and the Investor
Servicing Fees), together with certain other information relating to the
Certificates, is contained in the Monthly Report for the Monthly Period
provided to Certificateholders pursuant to the Pooling and Servicing Agreement
dated as of April 1, 1992 (hereinafter as such agreement may have been or
may be from time to time, supplemented, amended or otherwise modified, the
"Agreement") between Advanta National Bank USA and The Chase Manhattan Bank,
formerly known as Chemical Bank, as trustee. Capitalized terms not otherwise
defined herein have the meanings assigned in the Agreement.
In August 1996, the Owner/Servicer adopted a new charge-off methodology related
to bankrupt credit card accounts. Under the previous methodology, when the
Owner/Servicer received notification that a credit cardholder had filed a
bankruptcy petition, the account was written off within 30 days of notification.
Under the new methodology, the Owner/Servicer utilizes an investigative period
of up to 90 days from the date of such notification. The receivable, if not
paid during such investigative period, will be charged off unless the
investigation shows that the cardholder's obligation to the Owner/Servicer
should not be discharged as the result of the bankruptcy proceeding. In no
event will the receivable be charged off at later than 186 days contractual
delinquency. As the result of this new methodology, charge-offs of receivables
held by the Trust were lower in October 1996 than they would have been under
the previous methodology and, conversely, delinquent Receivables were higher by
a like amount.
Item 6 Inapplicable
Item 7 Financials Statements, Pro Forma
Financials Information and Exhibits.
1. Monthly Reports for the October 1996 Monthly Period relating to the
Series 1992-3 Class A-1, 5.95% Fixed Rate Asset Backed Certificates,
the Series 1992-3 Class A-2 Floating Rate Asset Backed Certificates, the
Series 1993-2, the Series 1993-4 and the Series 1994-1 Floating Rate
Asset Backed Certificates issued by the Advanta Credit Card Master
Trust.
<PAGE> 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934 the
Registrant has only caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ADVANTA CREDIT CARD MASTER TRUST
(Registrant)
BY: ADVANTA NATIONAL BANK USA
(owner/Servicer)
Date: November 15, 1996 BY: /s/ Michael Coco
-----------------
Name: Michael Coco
Title: Vice President
<PAGE> 4
EXHIBIT INDEX
<TABLE>
<CAPTION>
Sequential
Exhibit Page Number
- ------- -----------
<S> <C> <C>
1. Monthly Reports for the October 1996 Monthly Period relating to the 5
Class A-1 5.95% Fixed Rate Asset Backed Certificates and Class A-2
Floating Rate Asset Backed Certificates, Series 1992-3, the Floating
Rate Asset Backed Certificates Series 1993-2, the Floating Rate
Asset Backed Certificates, Series 1993-4 and the Floating Rate
Asset Backed Certificates Series 1994-1, issued by the Advanta Credit
Card Master Trust.
</TABLE>
<PAGE> 1
October 1996
MONTHLY SERVICER'S CERTIFICATE
ADVANTA NATIONAL BANK USA
ADVANTA CREDIT CARD MASTER TRUST
The undersigned, a duly authorized representative of Advanta National Bank USA,
as Servicer ("Advanta USA") pursuant to the Amended and Restated Pooling and
Servicing Agreement dated as of April 1,1992 (the "Agreement"), by and between
Advanta USA, as Seller and Servicer and The Chase Manhattan Bank (formerly
known as Chemical Bank), as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings set forth in the Agreement: provided that the "preceding Monthly
Period" shall mean the Monthly Period immediately preceding the calendar month
in which this certificate is delivered. This certificate is delivered pursuant
to subsection 3.04(b) of the Agreement. References herein to certain sections
and subsections are references to the respective sections and subsections of the
Agreement.
2. Advanta USA is as of the date hereof the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. The date of this Certificate is a Determination Date under the
Agreement.
5. The aggregate amount of Collections processed for the preceding
Monthly Period for this Payment Date is equal to $234,242,076.36
6. The aggregate amount of such Collections allocated to Principal
Receivables for the preceding Monthly Period for this Payment Date was equal to:
Series 1992-3 $47,000,534.50
Series 1993-2 $37,600,427.57
Series 1993-4 $37,600,427.57
Series 1994-1 $37,600,427.59
7. The aggregate amount of such Collections allocated to Finance
Charges Receivables for the preceding Monthly Period for this Payment Date was
equal to:
Series 1992-3 $6,817,815.04
Series 1993-2 $5,454,252.10
Series 1993-4 $5,454,252.10
Series 1994-1 $5,454,252.10
8. The aggregate amount of such Collections allocated to Finance
Charge Receivables that constitute Recoveries on Defaulted Accounts for this
preceding Monthly Period for this Payment Date was equal to:
Series 1992-3 $120,831.42
Series 1993-2 $96,665.14
Series 1993-4 $96,665.14
Series 1994-1 $96,665.14
<PAGE> 2
9. The aggregate amount of such Collections of Finance Charge
Receivables that constitute Interchange Fees for the preceding Monthly Period
for this Payment Date was equal to:
Series 1992-3 $833,333.33
Series 1993-2 $666,666.67
Series 1993-4 $583,333.33
Series 1994-1 $500,000.00
10. The aggregate amount of drawings,if any, under the Enhancement for
each Series required to be made on the next succeeding Distribution Date is
equal to:
Series 1992-3 $0.00
Series 1993-2 $0.00
Series 1993-4 $0.00
Series 1994-1 $0.00
11. The amount of the Monthly Investor Servicng Fee required to be
paid on the next succeeding Payment Date for each Series is equal to:
Series 1992-3 $833,333.33
Series 1993-2 $666,666.67
Series 1993-4 $666,666.67
Series 1994-1 $666,666.67
12. The aggregate sum of all amounts payable to Investor
Certificateholders of each Series on the succeeding Payment Date in respect of
Monthly Investor Interest is equal to:
Series 1992-3 $2,478,506.94
Series 1993-2 $1,930,611.11
Series 1993-4 $1,937,500.00
Series 1994-1 $1,908,222.22
13. The aggregate sum of all amounts payable to Investor
Certificateholders of each Series on the succeeding Payment Date in respect of
Monthly Investor Principal is equal to:
Series 1992-3 $0.00
Series 1993-2 $0.00
Series 1993-4 $0.00
Series 1994-1 $0.00
14. The Enhancement Amount for each Series as of the close of business
on the following Payment Date, after giving effect to all deposits, drawings and
transfers, will be equal to:
Series 1992-3 $65,000,000.00
Series 1993-2 $52,000,000.00
Series 1993-4 $52,000,000.00
Series 1994-1 $32,000,000.00
15. The existing aggregate Deficit Controlled Amortization Amount for
each Series was equal to:
Series 1992-3 $0.00
Series 1993-2 $0.00
Series 1993-4 $0.00
Series 1994-1 $0.00
16. The average Net Portfolio Yield for the three preceding Monthly
Periods was 12.74%
<PAGE> 3
17. The average Base Rate for each Series for the three preceding
Investor Interest Periods was equal to:
Series 1992-3 7.95%
Series 1993-2 7.79%
Series 1993-4 7.81%
Series 1994-1 7.73%
18. The Investor Percentage for each Series of Collections allocated
to Finance Charge Receivables for the Preceding Monthly Period was equal to:
Series 1992-3 22.90%
Series 1993-2 18.32%
Series 1993-4 18.32%
Series 1994-1 18.32%
19. The Investor Percentage for each Series of Collections allocated
to Principal receivables for the Preceding Monthly Period was equal to:
Series 1992-3 22.90%
Series 1993-2 18.32%
Series 1993-4 18.32%
Series 1994-1 18.32%
20. Attached hereto is a true and correct copy of the statement
required to be delivered by the Servicer on the date of this Certificate to the
Trustee pursuant to Section 5.02(a) of the Agreement
21. As of the date hereof, to the best knowledge of the undersigned,
no default in the performance of the Servicer under the Agreement has occurred
or is continuing except as follows: [set forth in detail the (i) nature of such
default, (ii) the action taken by the Servicer, if any, to remedy such
default and (iii) the current status of each such default: if applicable, insert
"None"] None
22. As of the date hereof no Liquidation Event or Controlled
Amortization Event has been deemed to have occurred for the Monthly Period for
this Payment Date.
23. As of the date hereof, to the best knowledge of the undersigned,
no Lien has been placed on any of the Receivables.
In witness whereof, the undersigned has duly executed and delivered
this certificate this
November 12, 1996
ADVANTA NATIONAL BANK USA
as Owner/Servicer
/s/ MICHAEL COCO
----------------------------------------
Michael Coco
Vice President
<PAGE> 4
Delinquent Balances
The aggregate outstanding balance of Accounts which are 30, 60, 90,
120, 150 and 180 or more days delinquent as of the end of the prior Monthly
Period for such Payment Date is:
Aggregate Account Balance
(a) 30-59 days: $34,806,033.73
(b) 60-89 days: $19,697,351.34
(c) 90-119 days: $14,983,757.23
(d) 120-149 days: $10,845,366.03
(e) 150-179 days: $9,444,512.90
(f) 180 or more days: $2,926,508.19
ADVANTA NATIONAL BANK USA,
as Servicer
/s/ MICHAEL COCO
----------------------
By: Michael Coco
Vice President
<PAGE> 5
October 1996
MONTHLY CERTIFICATEHOLDER'S STATEMENT
ADVANTA NATIONAL BANK USA
ADVCC Master Trust I
Series 1992-3
Under Section 5.02 of the Amended and Restated Master Pooling and Servicing
Agreement, dated as of April 1, 1992, (hereinafter as such agreement may have
been or may be from time to time, supplemented, amended or otherwise modified,
the "Agreement") between Advanta National Bank USA as Seller and Servicer and
The Chase Manhattan Bank (formerly known as Chemical Bank), as Trustee (the
"Trustee"), Advanta National Bank USA as Servicer is required to prepare
prepare certain information each month regarding current distributions to
Certificateholders and the performance of the Advanta Credit Card Master Trust I
(the "Trust") during the previous month. The information which is required to
be prepared with respect to the Payment Date of November 15, 1996and with
respect to the performance of the Trust during the month of October 1996 is set
forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Investor Certificate (a "Certificate").
Certain other information is presented based on the aggregate amounts for the
Trust as a whole. Capitalized terms used herein have their
respective meanings set forth in the Agreement.
A. Information Regarding the Current Monthly Distribution
(Stated on the Basis of $1,000 Certificate).
1. The total amount of the distribution to Series 1992-3
Certificateholders per $1,000 original certificate principal amount
Class A-1 4.958333
Class A-2 4.955694
2. The amount of the distribution set forth in paragraph 1 above with
respect to interest on the Series 1992-3 Certificates,
per $1,000 original principal amount
Class A-1 4.958333
Class A-2 4.955694
3. The amount of the distribution set forth in paragraph 1 above with
respect to principal on the Series 1992-3 Certificateholders
per $1,000 original principal amount 0.00000
B. Information regarding the Performance of the Trust
1. Collection of Receivables.
(a) The aggregate amount of Collections of Receivables processed
during the Monthly Period immediately preceding the Payment Date
with the respect to the Investor Certificates of all Series
$234,242,076.36
(b) The aggregate amount of average Receivables outstanding
during the Monthly Period immediately preceding the Payment
Date with the respect to the investor Certificates of all Series
$2,154,057,728.87
(c) The aggregate amount of Collections of Receivables in respect
of Finance Charge Receivables processed during the Monthly
Period immediately preceding the Payment Date which were
allocated with respect to Series 1992-3 Certificates $6,817,815.04
(d) The aggregate amount of Collections of Receivables in respect
of Principal Receivables processed during the Monthly Period
immediately preceding the Payment Date which were allocated
with respect to Series 1992-3 Certificates $47,000,534.50
<PAGE> 6
2. Principal Receivables in the Trust:
(a) The aggregate amount of Principal Receivables as of the end of
the last day of the preceding Monthly Period (which reflects the
Principal Receivables represented by the Exchangeable Seller's
Certificate and by the Investor Certificates of all Series)
$2,152,283,681.37
(b) The aggregate amount of Principal Receivables in the Trust
represented by the Series 1992-3 Certificates (the "Investor
Amount") as of the end of the last day of the preceding Monthly
Period $500,000,000.00
(c) The Investor Amount on the date of issuance of the Series 1992-3
Investor Certificates (the "Initial Investor Amount")
$500,000,000.00
(d) The Investor Percentage with respect to the allocation of
charged-off Receivables to Series 1992-3 Certificateholders 22.90%
(e) The Investor Percentage with respect to the allocation of
Principal Receivables to Series 1992-3 Certificateholders 22.90%
3. Investor Charged-Off Amount
The aggregate of the Investor Charged-Off Amounts for the
Monthly Period corresponding to the Payment Date allocable
to the Series 1992-3 Certificates $2,430,730.12
4. Reduction Amount; Reimbursement of Reduction Amount
(a) The amount of the drawing, if any, under the Enhancement $0.00
(b) The excess of the Reduction Amount allocable to the Series
1992-3 Certificates over the amount of the drawing, if any, under
the Enhancement made to reimburse the Series 1992-3
Certificateholders for such amount written off $0.00
(c) The Reduction Amount set forth in Item 5(b) above, per $1,000
interest (which will have the effect of reducing, pro rata, the
amount of each Series 1992-3 Investor Certificateholder's
investment 0.000000
(d) The total amount reimbursed to the Trust for such Payment Date
in respect of the Reduction Amount $0.00
(e) The amount set forth in Item 5(d) above, per $1,000 interest
(which will have the effect of increasing, pro rata, the amount of
each Series 1992-3 Certificateholder's investment) 0.000000
(f) The amount, if any, by which the outstanding principal balance
of the Investor Certificates exceeds the Series 1992-3 Investor
Amount as of the end of the day on the Record date with respect
to the Payment Date $0.00
5.5. Investor Servicing Fee
The amount of the Series 1992-3 Monthly Servicing Fee payable
to the Servicer for the Payment Date $833,333.33
<PAGE> 7
6. Available Enhancement Amount
(a) The amount available to be drawn under the Enhancement
for the Series 1992-3 Certificates as of the close of business
on such Payment date, after giving effect to any drawings on
the Enhancement Provider on such Payment Date $65,000,000.00
(b) The ratio of the Available Enhancement Amount to the
Investor Amount of the Series 1992-3 Certificates as of the
close of business on such Payment date, after giving effect
to any drawings on the Enhancement and payments to the
Enhancement Provider on such Payment Date 13.00%
7. Carryover Controlled Amortization Amount
The existing Carryover Controlled Amortization Amount for
such Distribution Amount $0.00
C. The Pool Factor
The Pool Factor for the Preceding Record Date (which
represents the ratio of the amount of the Investor Amount
as of such Record Date (adjusted after taking into account
any reduction in the Investor Amount which will occur on the
following Payment Date) to the 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 1.00
D. Receivables Balance
1. The aggregate amount of Principal Receivables in the Trust
at the close of business on the last day of the immediately
preceding Monthly Period (which reflects the Principal
Receivables represented by Exchangeable Seller's
Certificate and by the Investor Certificates of all Series)
$2,152,283,681.37
2. The aggregate amount of Finance Charge Receivables
in the Trust as the close of business on the last day of
the immediately preceding Monthly Period $29,112,255.31
<PAGE> 8
Delinquent Balances
The aggregate outstanding balance of Accounts which are 30, 60, 90,
120, 150 and 180 or more days delinquent as of the end of the prior Monthly
Period for such Payment Date is:
Aggregate Account Balance
(a) 30-59 days: $34,806,033.73
(b) 60-89 days: $19,697,351.34
(c) 90-119 days: $14,983,757.23
(d) 120-149 days: $10,845,366.03
(e) 150-179 days: $9,444,512.90
(f) 180 or more days: $2,926,508.19
ADVANTA NATIONAL BANK USA,
as Servicer
/s/ MICHAEL COCO
----------------------
By: Michael Coco
Vice President
<PAGE> 9
October 1996
MONTHLY CERTIFICATEHOLDER'S STATEMENT
ADVANTA NATIONAL BANK USA
ADVANTA CREDIT CARD MASTER TRUST
Series 1993-2
Under the Amended and Restated Master Pooling and Servicing Agreement (the
"Agreement"), dated as of April 1, 1992, by and between Advanta National Bank
USA ("Advanta USA") as Seller and Servicer, and The Chase Manhattan Bank,
(formerly known as Chemical Bank) as Trustee, Advanta USA, as Servicer,
is required to prepare certain information each month regarding current
distributions to all Investor Certificateholders of Series 1993-2 and the
performance of the ADVANTA Credit Card Master Trust ("the Trust") during the
previous Monthly Period. The information which is required to be prepared with
respect to the distribution on the November 15, 1996 Payment Date (the "Payment
Date") and with respect to the performance of the Trust during the Monthly
Period for such Payment Date is set forth in the Certificate prepared in
accordance with Section 5.2(a) of the Agreement and additional information
specific to the Series 1993-2 Certificates is set forth below in accordance
with section 4.2 of the Series 1993-2 Supplement to the Agreement. Certain of
the information is presented on the basis of an original principal amount of
$1,000 per Investor Certificate of Series 1993-2. Certain other information is
presented based on the aggregate amounts for the Trust as a whole. All
capitalized terms used herein shall have their respective meanings set forth in
the Agreement.
1. The total amount of the distribution on the Payment Date per $1000
original principal amount of the Investor Certificates 4.826528
2. The amount of the distribution set forth in paragraph 1 above in
respect of principal, per $1,000 original principal amount of the
Investor Certificates 0.000000
3. The amount of distribution set forth in paragraph 1 above in respect
of interest, per $1,000 original principal amount of the Investor
Certificates 4.826528
4. The aggregate amount of Collections of Receivables processed for the
prior Monthly Period which were allocated in respect of the Investor
Certificates $43,818,011.48
5. The aggregate amount of Collections of Principal Receivables
processed during the prior Monthly Period and allocated in respect
of the Investor Certificates $37,600,427.57
6. The aggregate amount of Collections of Finance Charge Receivables
processed during the prior Monthly Period and allocated in respect
of the Investor Certificates $5,454,252.10
7. The Investor Charged-Off Amount for the prior Monthly Period is
$1,944,584.10
8. The aggregate amount of the Reduction Amounts for Series 1993-2
for the Monthly Period is $0.00
9 The aggregate amount of the Reduction Amounts for Series 1993-2
reimbursed on such Payment Date is $0.00
<PAGE> 10
10. The amount of the Monthly Investor Servicing Fee for the prior
Monthly Period is $666,666.67
11. The Pool Factor as of the end of the last day of the prior Monthly
Period is 1.00
12. The amount, if any, by which the outstanding principal balance of
the Investor Certificates exceeds the Investor Amount as of the end
of the day on the Record Date with respect to such Payment Date
(after giving effect to any activity on such Payment Date) is $0.00
13. The Investor Amount after giving effect to any payments on such
Payment Date is $400,000,000.00
14. The Cash Collateral Guaranty Amount as of the close of business on
the Payment Date is $52,000,000.00
15. The amount by which the Net Portfolio Yield for such Monthly Period
exceeds the Base Rate for the related Investor Interest Period 5.03%
16. The aggregate existing Carryover Controlled Amortization Amount with
respect to Series 1993-2 (after giving effect to any activity on
such Payment Date) is $0.00
17. The Investor Percentage with respect to Principal Receivables
is 18.32%
and with respect to Finance Charge Receivables is 18.32%
<PAGE> 11
Delinquent Balances
The aggregate outstanding balance of Accounts which are 30, 60, 90,
120, 150 and 180 or more days delinquent as of the end of the prior Monthly
Period for such Payment Date is:
Aggregate Account Balance
(a) 30-59 days: $34,806,033.73
(b) 60-89 days: $19,697,351.34
(c) 90-119 days: $14,983,757.23
(d) 120-149 days: $10,845,366.03
(e) 150-179 days: $9,444,512.90
(f) 180 or more days: $2,926,508.19
ADVANTA NATIONAL BANK USA,
as Servicer
/s/ MICHAEL COCO
----------------------
By: Michael Coco
Vice President
<PAGE> 12
October 1996
MONTHLY CERTIFICATEHOLDER'S STATEMENT
ADVANTA NATIONAL BANK USA
ADVANTA CREDIT CARD MASTER TRUST
Series 1993-4
Under the Amended and Restated Master Pooling and Servicing Agreement
(the "Agreement"), dated as of April 1, 1992, by and between Advanta National
Bank USA ("Advanta USA") as Seller and Servicer, and The Chase Manhattan Bank
(formerly known as Chemical Bank), as Trustee, Advanta USA, as Servicer, is
required to prepare certain information each month regarding current
distributions to all Investor Certificateholders of Series 1993-4 and the
performance of the ADVANTA Credit Card Master Trust (the "Trust") during the
previous Monthly Period. The information which is required to be prepared with
respect to the distribution on the November 15, 1996 Payment Date (the "Payment
Date") and with respect to the performance of the Trust during the Monthly
Period for such Payment Date is set forth in the Certificate prepared in
accordance with Section 5.2(a) of the Agreement and additional information
specific to to Series 1993-4 Certificates is set forth below in accordance with
section 4.2 of the Series 1993-4 Supplement to the Agreement. Certain of the
information is presented on the basis of an original principal amount of $1,000
per Investor Certificate of Series 1993-4. Certain other information is
presented based on the aggregate amounts for the Trust as a whole. All
capitalized terms used herein shall have their respective meanings set forth in
the Agreement.
1. The total amount of the distribution on the Payment Date per $1000
original principal amount of the Investor Certificates 4.843750
2. The amount of the distribution set forth in paragraph 1 above in
respect of principal, per $1,000 original principal amount of the
Investor Certificates 0.000000
3. The amount of distribution set forth in paragraph 1 above in respect
of interest, per $1,000 original principal amount of the Investor
Certificates 4.843750
4. The aggregate amount of Collections of Receivables processed for the
prior Monthly Period which were allocated in respect of the Investor
Certificates $43,734,678.14
5. The aggregate amount of Collections of Principal Receivables
processed during the prior Monthly Period and allocated in respect
of the Investor Certificates $37,600,427.57
6. The aggregate amount of Collections of Finance Charge Receivables
processed during the prior Monthly Period and allocated in respect
of the Investor Certificates $5,454,252.10
7. The Investor Charged-Off Amount for the prior Monthly Period is
$1,944,584.10
8. The aggregate amount of the Reduction Amounts for Series 1993-4
for the Monthly Period is $0.00
9 The aggregate amount of the Reduction Amounts for Series 1993-4
reimbursed on such Payment Date is $0.00
<PAGE> 13
10. The amount of the Monthly Investor Servicing Fee for the prior
Monthly Period is $666,666.67
11. The Pool Factor as of the end of the last day of the prior Monthly
Period is 1.00
12. The amount, if any, by which the outstanding principal balance of
the Investor Certificates exceeds the Investor Amount as of the end
of the day on the Record Date with respect to such Payment Date
(after giving effect to any activity on such Payment Date) is $0.00
13. The Investor Amount after giving effect to any payments on such
Payment Date is $400,000,000.00
14. The Invested Amount after giving effect to payments on such
Payment Date is $400,000,000.00
15. The Pre-Funded Amount after giving effect to payments on such
Payment Date is $0.00
16. The Cash Collateral Guaranty Amount as of the close of business on
the Payment Date is $52,000,000.00
17. The amount by which the Net Portfolio Yield for such Monthly Period
exceeds the Base Rate for the related Investor Interest Period 4.76%
18. The aggregate existing Carryover Controlled Amortization Amount with
respect to Series 1993-4 (after giving effect to any activity on
such Payment Date) is $0.00
19. The Investor Percentage with respect to Principal Receivables
is 18.32%
and with respect to Finance Charge Receivables is 18.32%
<PAGE> 14
Delinquent Balances
The aggregate outstanding balance of Accounts which are 30, 60, 90,
120, 150 and 180 or more days delinquent as of the end of the prior Monthly
Period for such Payment Date is:
Aggregate Account Balance
(a) 30-59 days: $34,806,033.73
(b) 60-89 days: $19,697,351.34
(c) 90-119 days: $14,983,757.23
(d) 120-149 days: $10,845,366.03
(e) 150-179 days: $9,444,512.90
(f) 180 or more days: $2,926,508.19
ADVANTA NATIONAL BANK USA,
as Servicer
/s/ MICHAEL COCO
----------------------
By: Michael Coco
Vice President
<PAGE> 15
October 1996
MONTHLY CERTIFICATEHOLDER'S STATEMENT
ADVANTA NATIONAL BANK USA
ADVANTA CREDIT CARD MASTER TRUST
Series 1994-1
Under the Amended and Restated Master Pooling and Servicing Agreement (the
"Agreement"), dated as of April 1, 1992, by and between Advanta National
Bank USA ("Advanta USA") as Seller and Servicer, and The Chase Manhattan
Bank (formerly Chemical Bank), as Trustee, Advanta USA, as Servicer,
is required to prepare certain information each month regarding current
distributions to all Investor Certificateholders of Series 1994-1 and the
performance of the ADVANTA Credit Card Master Trust (the "Trust") during the
previous Monthly Period. The information which is required to be prepared with
respect to the distribution on the November 15, 1996Payment Date (the "Payment
Date") and with respect to the performance of the Trust during the Monthly
Period for such Payment Date is set forth in the Certificate prepared in
accordance with Section 5.2(a) of the Agreement and additional information
specific to the series 1994-1 Certificates is set forth below in accordance
with section 4.2 of the series 1994-1 Supplement to the Agreement. Certain of
the information is presented on the basis of an original principal amount of
$1000 per Investor Certificate of Series 1994-1. Certain other information is
presented based on the aggregate amounts for the Trust as a whole. All
capitalized terms used herein shall have their respective meanings set forth in
the Agreement.
1. The total amount of the distribution on the Payment Date per
$1000 original principal amount of Class A Certificates 4.757639
2. The total amount of the distribution on the Payment Date per
$1000 original principal amount of Class B Certificates 4.972917
3. The amount of the distribution set forth in paragraph 1 above in
respect of principal per $1,000 original principal amount of the
Class A Certificates 0.000000
4. The amount of the distribution set forth in paragraph 2 above in
respect of principal per $1,000 original principal amount of the
Class B Certificates 0.000000
5. The amount of distribution set forth in paragraph 1 above in
respect of interest, per $1,000 original principal amount of the
Class A Certificates 4.757639
6. The amount of distribution set forth in paragraph 2 above in
respect of interest, per $1,000 original principal amount of the
Class B Certificates 4.972917
7. The aggregate amount of Collections of Receivables processed
for the prior Monthly Period which were allocated in respect of the
Series 1994-1 Certificates $43,651,344.83
8. The aggregate amount of Collections of Principal Receivables
processed during the prior Monthly Period and allocated in respect
of the Series 1994-1 Certificates $37,600,427.59
9. The aggregate amount of Class B Principal Collections processed
during the prior Monthly Period and allocated in respect of the
Class B Certificates $2,259,324.53
<PAGE> 16
10. The aggregate amount of Collections of Finance Charge Receivables
processed during the prior Monthly Period and allocated in respect
of the Class A Certificates $5,126,534.70
11. The aggregate amount of Collections of Finance Charge Receivables
processed during the prior Monthly Period and allocated in respect
of the Class B Certificates $327,717.40
12. The Class A Investor Charged-Off Amount for the prior Monthly
Period is $1,827,775.87
13. The Class B Investor Charged-Off Amount for the prior Monthly
Period is $116,808.22
14. The aggregate amount of Class A Reduction Amounts for the prior
Monthly Period is $0.00
15. The aggregate amount of Class B Reduction Amounts for the prior
Monthly Period is $0.00
16. The aggregate amount of Class A Reduction Amounts reimbursed
on such Payment Date is $0.00
17. The aggregate amount of Class B Reduction Amounts reimbursed
on such Payment Date is $0.00
18. The amount of the Class A Monthly Servicing Fee for the prior
Monthly Period is $626,666.67
19. The amount of the Class B Monthly Servicing Fee for the prior
Monthly Period is $40,000.00
20. The Class A Pool Factor as of the end of the last day of the prior
Monthly Period is 1.00000
21. The Class B Pool Factor as of the end of the last day of the prior
Monthly Period is 1.00000
22. The Class A Investor Amount after giving effect to any payments
on such Payment Date is $376,000,000.00
23. The Class B Investor Amount after giving effect to any payments
on such Payment Date is $24,000,000.00
24. The amount, if any, by which the outstanding principal balance of
the Class A Certificates exceeds the Class A Investor Amount after
giving effect to any activity on such Payment Date is 0.00
25. The amount, if any, by which the outstanding principal balance of
the Class B Certificates exceeds the Class B Investor Amount after
giving effect to any activity on such Payment Date is 0.00
26. The Available Cash Collateral Amount as of the close of business
on such Payment Date is $32,000,000.00
27. The Available Shared Enhancement Amount as of the close of
business on such Payment Date is $24,000,000.00
28. The amount by which the Net Portfolio Yield for such Monthly
Period exceeds the Base Rate for such Monthly Period is 4.59%
29. The amount of Interchange with respect to the prior Monthly
Period is $500,000.00
30. The amount of Servicer Interchange with respect to the prior
Monthly Period is $333,333.33
31. The aggregate existing Carryover Controlled Amortization Amount
with respect to Series 1994-1 (after giving effect to any activity
on such Payment Date) is $0.00
32. The Investor Percentage with respect to Principal Receivables
is 18.32%
and with respect to Finance Charge Receivables is 18.32%
<PAGE> 17
Delinquent Balances
The aggregate outstanding balance of Accounts which are 30, 60, 90,
120, 150 and 180 or more days delinquent as of the end of the prior Monthly
Period for such Payment Date is:
Aggregate Account Balance
(a) 30-59 days: $34,806,033.73
(b) 60-89 days: $19,697,351.34
(c) 90-119 days: $14,983,757.23
(d) 120-149 days: $10,845,366.03
(e) 150-179 days: $9,444,512.90
(f) 180 or more days: $2,926,508.19
ADVANTA NATIONAL BANK USA,
as Servicer
/s/ MICHAEL COCO
----------------------
By: Michael Coco
Vice President
