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
July 23, 1997
(Date of earliest event reported)
FIRST USA BANK
(Exact name of Registrant as specified in its charter)
FIRST USA CREDIT CARD MASTER TRUST
DELAWARE 333-24227 76-0039224
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
201 NORTH WALNUT STREET, WILMINGTON, DELAWARE 19801
(Address of principal executive offices, including zip code)
(302) 594-4000
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS
Effective July 1997, the First USA Credit Card
Master Trust (the "Master Trust") began implementation of
a charge-off policy to align it with that of BANC ONE
CORPORATION ("BANC ONE"). BANC ONE completed its
acquisition of First USA, Inc. on June 27, 1997.
First USA Bank, as servicer of the Master Trust,
will now begin generally charging off a contractually
past due account immediately prior to the end of the
"sixth billing cycle" compared with the prior "seventh
billing cycle" policy. However, charge-offs may occur
earlier in some circumstances, as in the case of bankrupt
cardholders.
For the Master Trust, it is currently anticipated
that this change in charge-off policy will be fully
implemented by year-end 1997. During this period, this
policy change may result in a decrease in the number of
accounts and the amount of receivables delinquent but may
also result in an increase in reported gross charge-offs
net of recoveries.
The Master Trust portfolio is only a portion of the
managed portfolio of First USA. As such, delinquency and
loss experience with respect to First USA's entire
managed credit card portfolio may differ from that of the
Master Trust.
SIGNATURES
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
hereunto duly authorized.
Date: July 23, 1997 FIRST USA BANK
By:/s/Peter W. Atwater
____________________________
Name: Peter W. Atwater
Title: Executive Vice President
