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, 1996
ADVANTA CREDIT CARD MASTER TRUST I
(Exact name of Registrant as specified in its charter)
New York Reg. No 33-49602 Not Required
(State or other (Commission File (I.R.S.
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)
Adress of principal executive offices
(302) 791-4400 (Telephone Number of Owner/Servicer)
(Registrant's Telephone Number)
Items 1-4 Inapplicable
Item 5
Other Events
Information relating to the distributions to
Certificateholders for the May 1996 Monthly Period of the
Trust in respect of the Class A-1 5.95 Fixed Rate Asset
Backed Certificates, Series 92-3, the Class A-2 Floating
Rate Asset Backed Certificates, Series 92-3, Floating Rate
Asset Backed Certificates, Series 93-2, Floating Rate
Asset Backed Certificates, Series 93-4 and, Floating Rate
Asset Backed Certificates, Series 94-1, (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 (the "Agreement")
dated as of April 1, 1992 between Advanta National Bank
USA and ChemicalBank, as trustee. Capitalized terms
not otherwise defined herein have the meanings assigned
in the Agreement.
Item 6 . Inapplicable
Item 7 . Financials Statements, Pro Forma
Financials Information and Exhibits.
1. Monthly Reports for the May 1996 Monthly Period relating
to the Series 92-3
Class A-1, 5.95% Fixed Rate Asset Backed
Certificates, the Series 92-3 Class A-2
Floating Rate Asset Backed Certificates, the Series
93-2, the Series 93-4 and the Series
94-1 Floating Rate Asset Backed Certificates Issued
by the Advanta Credit Card Master Trust I
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 I
(Registrant)
By: Advanta National Bank USA
(Owner/Servicer)
Date: June 19, 1996 BY: /s/ Michael Coco
Name: Michael Coco
Title: Vice President
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 I
(Registrant)
By: Advanta National Bank USA
(Owner/Servicer)
Date: June 19, 1996 BY: /s/ Michael Coco
Name: Michael Coco
Title: Vice President
EXHIBIT INDEX
Sequential Exhibit
Page Number
1 Monthly Reports for the May 1996 5
Monthly Period relating to the
Class A-1 5.95% Fixed Rate Asset Backed Certificates
Series 1992-3, the Asset Backed Certificates Series 1993-2, and the
Asset Backed Certificates Series 94-1, issued by the Advanta Credit
card Master Trust I
May 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 May 1,1992
(the "Agreement"), by and between Advanta USA, as Seller and Servicer
and 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 ... $240,156,387.22
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 $46,870,339.69
Series 1993-1 $18,743,956.61
Series 1993-2 $37,508,809.50
Series 1993-4 $37,508,809.50
Series 1994-1 $37,508,809.52
7. The aggregate amount of such Collections allocated to Finance
Charge Receivables for the preceding Monthly Period for this Payment
Date was equal to:
Series 1992-3 $6,259,698.67
Series 1993-1 $248,378.60
Series 1993-2 $5,009,433.39
Series 1993-4 $5,009,433.39
Series 1994-1 $5,009,433.39
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 $82,422.25
Series 1993-1 $3,270.43
Series 1993-2 $65,959.85
Series 1993-4 $65,959.85
Series 1994-1 $65,959.86
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 $833,333.34
Series 1993-1 $33,072.21
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 1993-1 $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 1993-1 $33,072.21
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 $2,571,614.58
Series 1993-1 $98,560.96
Series 1993-2 $2,078,083.33
Series 1993-4 $2,085,416.67
Series 1994-1 $2,054,250.00
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 1993-1 $19,843,325.00
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 1993-1 $0.00
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 1993-1 $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 11.86%.
17. The average Base Rate for each Series for the three preceding
Investor Interest Periods was equal to:
Series 1992-3 8.02%
Series 1993-1 7.56%
Series 1993-2 7.92%
Series 1993-4 7.94%
Series 1994-1 7.85%
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 22.43%
Series 1993-1 0.89%
Series 1993-2 17.95%
Series 1993-4 17.95%
Series 1994-1 17.95%
19. The Investor Percentage for each Series of Collections
allocated to Principal Receivables for the Preceding Monthly
Period was equal to:
Series 1992-3 22.43%
Series 1993-1 8.97%
Series 1993-2 17.95%
Series 1993-4 17.95%
Series 1994-1 17.95%
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, "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
ADVANTA NATIONAL BANK USA
as Owner/Servicer
----------------------------------------
Michael Coco
Vice President
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: ........................ $26,312,563.24
(b) 60-89 days: ........................ $13,359,229.12
(c) 90-119 days: ....................... $11,172,704.67
(d) 120-149 days: ...................... $8,253,135.03
(e) 150-179 days: ...................... $7,375,721.32
(f) 180 or more days: .................. $1,711,733.46
ADVANTA NATIONAL BANK USA,
as Servicer
By: Michael Coco
Vice President
May 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 May 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 ("Advanta USA") as Seller and
Servicer and Chemical Bank, as Trustee (the "Trustee"), Advanta USA as Servicer
is required to prepare certain information each month regarding current
distributions to Certificateholders and the performance of the ADVCC Master
Trust I (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Payment Date of June 17, 1996 and
with respect to the performance of the Trust during the month of May 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 presented is 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 .............. 5.328125
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 .............. 5.328125
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 ... $240,156,387.22
(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 ... $2,227,780,293.10
(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 ... $6,259,698.67
(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 ... $46,870,339.69
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 Pricipal Receivables represented by the
Exchangeable Seller's Certificate and by the
Investor Certificates of all Series) ... $2,183,514,073.39
(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 ..... 22.43%
(e) The Investor Percentage with respect to the
allocation of Principal Receivables to Series
1992-3 Certificateholders ..... 22.43%
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 ... $2,106,110.61
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 1992-2 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 rate, 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 respectto 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
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) ... $2,183,514,073.39
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 ... $25,058,512.07
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: ........................ $26,312,563.24
(b) 60-89 days: ........................ $13,359,229.12
(c) 90-119 days: ....................... $11,172,704.67
(d) 120-149 days: ...................... $8,253,135.03
(e) 150-179 days: ...................... $7,375,721.32
(f) 180 or more days: .................. $1,711,733.46
ADVANTA NATIONAL BANK USA,
as Servicer
By: Michael Coco
Vice President
May 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 May 1, 1992, by and between Advanta National Bank
USA ("Advanta USA") as Seller and Servicer, and 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 wiht respect to the distribution on the June 17, 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 $1,000 original principal amount of the
Investor Certificates ... 5.195208
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 priginal
principal amount of the Investor Certificates ... 5.195208
4. The aggregate amount of Collections of Receivables
processed for the prior Monthly Period which were
allocated in respect of the Investor Certificates ... $43,250,869.41
5. The aggregate amount of Collections of Principal
Receivables processed during the prior Monthly Period and
allocated in respect of the Investor
Certificates ... $37,508,809.50
6. The aggregate amount of Collections of Finance
Charge Receivables processed during the prior Monthly Period and
allocated in respect of
the Investor Certificates ... $5,009,433.39
7. The Investor Charged-Off Amount for the prior
Monthly Period is ... $1,685,451.86
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
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 ... 3.94 %
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 ... 17.95%
and with respect to Finance Charge Receivables is ... 17.95%
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: ........................ $26,312,563.24
(b) 60-89 days: ........................ $13,359,229.12
(c) 90-119 days: ....................... $11,172,704.67
(d) 120-149 days: ...................... $8,253,135.03
(e) 150-179 days: ...................... $7,375,721.32
(f) 180 or more days: .................. $1,711,733.46
ADVANTA NATIONAL BANK USA,
as Servicer
By: Michael Coco
Vice President
May 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 May 1, 1992, by and between Advanta
National Bank USA ("Advanta USA") as Seller and Servicer, and Chemical
Bank, as Trustee, Advanta USA as Servicer, is required to prepare certain
information each month regarding current distributons to all Investor
Certificateholders of Series 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 to
the distribution on the June 17, 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
1993-4 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
their respective meanings set forth in the Agreement.
1. The total amount of the distribution on the Payment
Date per $1,000 original principal amount of the
Investor Certificates ... 5.213542
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 priginal
principal amount of the Investor Certificates ... 5.213542
4. The aggregate amount of Collections of
Receivables processed for the prior Monthly Period
which were allocated in respect of the Investor
Certificates ... $43,167,536.07
5. The aggregate amount of Collections of Principal
Receivables processed during the prior Monthly Period and
allocated in respect of the Investor
Certificates ..... $37,508,809.50
6. The aggregate amount of Collections of Finance
Charge Receivables processed during the prior Monthly Period and
allocated in respect of the
Investor Certificates ... $5,009,433.39
7. The Investor Charged-Off Amount for the prior
Monthly Period is ... $1,685,451.86
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
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... 3.66%
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 ...... 17.95%
and with respect to Finance Charge Receivables is ...... 17.95%
May 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 May 1, 1992, by and between Advanta
National Bank USA ("Advanta USA") as Seller and Servicer, and 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 June 17, 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 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 ... 5.121875
2. The total amount of the distribution on the Payment
Date per $1000 original principal amount of
Class B Certificates ... 5.351042
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 priginal
principal amount of the Class A Certificates ... 5.121875
6. The amount of distribution set forth in paragraph 2
above in respect of interest, per $1,000 priginal
principal amount of the Class B Certificates ... 5.351042
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 ... $43,084,202.77
8. The aggregate amount of Collections of Principal
Receivables processed during the prior Monthly Period and allocated
in respect of the Series
1994-1 Ceritificates ... $37,508,809.52
9. The aggregate amount of Reallocated Class B
Principal Collections processed during the prior
Monthly Period and allocated in respect of the
Class B Certificates ... $2,256,797.46
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 ... $4,708,030.15
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 ... $301,403.24
12. The Class A Investor Charged-Off Amount for the
prior Monthly Period is ... $1,584,043.06
13. The Class B Investor Charged-Off Amount for the
prior Monthly Period is ... $101,408.80
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 ... 3.51 %
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 ..... 17.95%
and with respect to Finance Charge Receivables is 17.95%
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: ........................ $26,312,563.24
(b) 60-89 days: ........................ $13,359,229.12
(c) 90-119 days: ....................... $11,172,704.67
(d) 120-149 days: ...................... $8,253,135.03
(e) 150-179 days: ...................... $7,375,721.32
(f) 180 or more days: .................. $1,711,733.46
ADVANTA NATIONAL BANK USA,
as Servicer
By: Michael Coco
Vice President
