FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: September 15, 1998
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST I
---------------------------------------------
(Exact name of registrant as specified in Department of
the Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
-----------------------------
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
Delaware 0-23942 Not Applicable
- --------------------------------------------------------------
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation of Number of
of Master Servicer) Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
- --------------------------------------------------------------
(Address of principal executive offices of (Zip Code)
Master Servicer)
Servicer's telephone number, including area code 847/564-5000
------------
Exhibit Index appears on page 4
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
--------
99(a) Statement to Certificateholders with respect to the distribution on
September 15, 1998 provided under Section 6 of the Series 1993-1
Supplement dated as of September 1, 1993 to the Amended and
Restated Pooling and Servicing Agreement dated as of September 1,
1993 among Household Affinity Funding Corporation, as Seller,
Household Finance Corporation, as Servicer, and The Bank of New
York, as Trustee (the "Amended and Restated Pooling and Servicing
Agreement"), with respect to Class A and Class B Credit Card
Participation Certificates, Series 1993-1.
99(b) Statement to Certificateholders with respect to the distribution on
September 15, 1998 provided under Section 6 of the Series 1993-2
Supplement dated as of November 1, 1993 to the Amended and Restated
Pooling and Servicing Agreement, with respect to Class A and Class
B Credit Card Participation Certificates, Series 1993-2.
99(c) Statement to Certificateholders with respect to the distribution on
September 15, 1998 provided under Section 6 of the Series 1993-3
Supplement dated as of November 1, 1993 to the Amended and Restated
Pooling and Servicing Agreement, with respect to Class A and Class
B Credit Card Participation Certificates, Series 1993-3.
99(d) Statement to Certificateholders with respect to the distribution on
September 15, 1998 provided under Section 6 of the Series 1994-1
Supplement dated as of March 1, 1994 to the Amended and Restated
Pooling and Servicing Agreement, with respect to Class A and Class
B Credit Card Participation Certificates, Series 1994-1.
99(e) Statement to Certificateholders with respect to the distribution on
September 15, 1998 provided under Section 6 of the Series 1994-2
Supplement dated as of September 1, 1994 to the Amended and
Restated Pooling and Servicing Agreement, with respect to Class A
and Class B Credit Card Participation Certificates, Series 1994-2.
-2-
<PAGE>
99(f) Statement to Certificateholders with respect to the distribution on
September 15, 1998 provided under Section 6 of the Series 1995-1
Supplement dated as of April 3, 1995 to the Amended and Restated
Pooling and Servicing Agreement, with respect to Class A and Class
B Credit Card Participation Certificates, Series 1995-1.
99(g) Statement to Certificateholders with respect to the distribution on
September 15, 1998 provided under Section 6 of the Series 1997-1
Supplement dated as of March 1, 1997 to the Amended and Restated
Pooling and Servicing Agreement, with respect to Class A and Class
B Credit Card Participation Certificates, Series 1997-1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Servicer has duly caused this report to be signed on behalf of the Class A
and Class B Credit Card Participation Certificates, Series 1993-1, the Class
A and Class B Credit Card Participation Certificates, Series 1993-2, the
Class A and Class B Credit Card Participation Certificates, Series 1993-3,
the Class A and Class B Credit Card Participation Certificates, Series 1994-
1, the Class A and Class B Credit Card Participation Certificates, Series
1994-2, the Class A and Class B Credit Card Participation Certificates,
Series 1995-1, and the Class A and Class B Credit Card Participation
Certificates, Series 1997-1 by the undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD AFFINITY CREDIT CARD
MASTER TRUST I
----------------------------
(Registrant)
By: /s/ J. W. Blenke
----------------------------
Dated: September 28, 1998 J. W. Blenke
------------------ Authorized Representative
-3-<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
- ------ ------- ----
6
99(a) Statement to Certificateholders with respect to the
distribution on September 15, 1998 provided under Section
6 of the Series 1993-1 Supplement dated as of September
1, 1993 to the Amended and Restated Pooling and Servicing
Agreement dated as of September 1, 1993 among Household
Affinity Funding Corporation, as Seller, Household
Finance Corporation, as Servicer, and The Bank of New
York, as Trustee (the "Amended and Restated Pooling and
Servicing Agreement"), with respect to Class A and Class
B Credit Card Participation Certificates, Series 1993-1.
16
99(b) Statement to Certificateholders with respect to the
distribution on September 15, 1998 provided under Section
6 of the Series 1993-2 Supplement dated as of November 1,
1993 to the Amended and Restated Pooling and Servicing
Agreement, with respect to Class A and Class B Credit
Card Participation Certificates, Series 1993-2.
29
99(c) Statement to Certificateholders with respect to the
distribution on September 15, 1998 provided under Section
6 of the Series 1993-3 Supplement dated as of November 1,
1993 to the Amended and Restated Pooling and Servicing
Agreement, with respect to Class A and Class B Credit
Card Participation Certificates, Series 1993-3.
42
99(d) Statement to Certificateholders with respect to the
distribution on September 15, 1998 provided under Section
6 of the Series 1994-1 Supplement dated as of March 1,
1994 to the Amended and Restated Pooling and Servicing
Agreement, with respect to Class A and Class B Credit
Card Participation Certificates, Series 1994-1.
54
99(e) Statement to Certificateholders with respect to the
distribution on September 15, 1998 provided under Section
6 of the Series 1994-2 Supplement dated as of September
1, 1994 to the Amended and Restated Pooling and Servicing
Agreement, with respect to Class A and Class B Credit
Card Participation Certificates, Series 1994-2.
- 4 -<PAGE>
67
99(f) Statement to Certificateholders with respect to the
distribution on September 15, 1998 provided under Section
6 of the Series 1995-1 Supplement dated as of April 3,
1995 to the Amended and Restated Pooling and Servicing
Agreement, with respect to Class A and Class B Credit
Card Participation Certificates, Series 1995-1.
80
99(g) Statement to Certificateholders with respect to the
distribution on September 15, 1998 provided under Section
6 of the Series 1997-1 Supplement dated as of March 1,
1997 to the Amended and Restated Pooling and Servicing
Agreement, with respect to Class A and Class B Credit
Card Participation Certificates, Series 1997-1.
-5-
MONTHLY SERVICER'S CERTIFICATE
(Delivered pursuant to subsection 3.04(b)
of the Pooling and Servicing Agreement
HOUSEHOLD FINANCE CORPORATION
HOUSEHOLD AFFINITY FUNDING CORPORATION
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST 1
Class A and Class B Certificates, Series 1993-1
The undersigned, a duly authorized representative of Household
Finance Corporation, as Servicer (the Servicer), pursuant to the
Amended and Restated Pooling and Servicing Agreement, dated as of
August 1, 1993 (the Pooling and Servicing Agreement), by and
among Household Affinity Funding Corporation, as Transferor, the
Servicer, and The Bank of New York, as Trustee, does hereby
certify with respect to the information set forth below as
follows:
1. Capitalized terms used in this Certificate shall have the
respective meanings set forth in the Pooling and Servicing
Agreement.
2. Household Finance Corporation is, as of the date hereof, the
Servicer under the Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring
on September 15, 1998
5. Trust Information.
(a) The aggregate amount of Collections processed for the Due
Period preceding such Distribution Date was equal to
..............................................$2,003,137,996.54
(b) The aggregate amount of such Collections with respect to
Principal Receivables for the Due Period preceding such
Distribution Date was equal to ...............$1,876,176,545.15
(i)The payment rate, [ ( (b) + (c)(ii) + (c)(iii) ) / (f) ],
is .....................................................26.197%
(c) The aggregate amount of such Collections with respect to
Finance Charge and Administrative Receivables and the Defaulted
Amount for the Due Period preceding such Distribution Date was
equal to ......................................$126,961,451.39
(i) The gross cash yield, [ ((ii)+(iii)+(iv)+(v)) * 12 /
(f) ], is ............................................19.903%
(ii) The amount of such aggregate with respect to Finance
Charge was equal to ............................$80,647,653.74
(iii)The amount of such aggregate with respect to Fees was
equal to .......................................$16,608,437.47
(iv) The amount of such aggregate with respect to
Interchange was equal to ........................$27,383,425.18
(v) The amount of such aggregate with respect to Other
Recoveries was equal to ............................$301,852.00
(vi) The amount of such aggregate with respect to Principal
Recoveries was equal to ..........................$2,020,083.00
(d) The Gross Defaulted Amount for the preceding Due Period is
.................................................$39,780,586.30
(i)The annualized default rate, (d) *12 / (f), is ..6.337%
(ii) The annualized net default rate, [(d)-(c)(vi)] *12 /
(f), is .................................................6.015%*
(e) The Portfolio Yield for such Distribution Date ....13.887%
(f) The total amount of Principal Receivables in the Trust at
the beginning of the preceding Due Period is equal to
..............................................$7,533,180,277.26
(g) The total amount of Principal Receivables as of the last day
of the immediately preceding Due Period is ...$7,479,231,829.00
(h) The average amount of Principal Receivables in the Trust
during the preceding Due Period (the sum of the amounts in clause
(f) and the amount in clause (g) divided by 2) is equal to
..............................................$7,506,206,053.13
(i) The total amount of Finance Charge and Administrative
Receivables in the Trust as of the last day of the immediately
preceding Due Period is ........................$121,428,791.34
(j) The aggregate outstanding gross balance of the Accounts
which were one payment (5-29 days) delinquent as of the close of
business on the last day of the calendar month preceding such
Distribution Date was equal to .................$269,235,155.98
(k) The aggregate outstanding gross balance of the Accounts
which were two payments (30-59 days) delinquent as of the close
of business on the last day of the calendar month preceding such
Distribution Date was equal to .................$105,098,618.99
(l) The aggregate outstanding gross balance of the Accounts
which were three or more payments (60+ days) delinquent as of the
close of business on the last day of the calendar month preceding
such Distribution Date was equal to ............$182,531,926.67
(m) The aggregate amount of Trust Excess Principal Collections
for such Distribution Date is ................$1,095,362,493.09
(n) The aggregate amount of Principal Shortfalls for such
Distribution Date is ...........................$675,796,138.84
6. Group One Information
(a) The Average Rate for Group One (the weighted average
Certificate Rate reduced to take into account any payments made
pursuant to interest rate agreements, if any) is equal to
........................................................5.8735%
(b) Group One Total Investor Collections is equal to
................................................$783,649,887.48
(c) Group One Investor Principal Collections is equal to
................................................$733,981,154.09
(d) Group One Investor Finance Charge and Administrative
Collections is equal to .........................$49,668,733.39
(e) Group One Investor Additional Amounts is equal to ...$0.00
(f) Group One Investor Default Amount is equal to
.................................................$15,562,608.29
(g) Group One Investor Monthly Fees is equal to .$4,911,773.33
(h) Group One Investor Monthly Interest is equal to
.................................................$13,692,788.89
7. Series 1993-1 Information
(a) The Series Adjusted Portfolio Yield for the Due Period
preceding such Distribution Date was equal to ...........14.96%
(b) The Series 1993-1 Allocation Percentage with respect to the
Due Period preceding such Distribution Date was equal to..11.49%
(c) The Floating Allocation Percentage for the Due Period
preceding such Distribution Date was equal to ............87.65%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period preceding such
Distribution Date is equal to ...................$12,533,655.78
(e) The Floating Allocation Percentage of Series Allocable
Finance Charge and Administrative Collections for the Due Period
preceding such Distribution Date is equal to .....$12,789,008.19
(f) Class A Invested Amount ...................$525,000,000.00
(g) The Class A Invested Percentage with respect to the Due
Period preceding such Distribution Date was equal to ....76.77%
(h) The Class A Invested Percentage of the amount set forth in
Item 7(d) above was equal to .....................$9,622,550.24
(i) The amount of Class A Monthly Interest for such Distribution
Date is equal to .................................$2,470,099.77
(j) The amount of any Class A Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(k) The amount of Class A Additional Interest for such
Distribution Date is equal to ............................$0.00
(l) The amount of any Class A Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(m) The Class A Investor Default Amount for such Distribution
Date is equal to .................................$3,076,441.00
(n) The Allocable Servicing Fee for such Distribution Date is
equal to .........................................$1,264,713.33
(o) The Class A Required Amount, if any, with respect to such
Distribution Date is equal to ......................$0.00
(p) Class B Invested Amount ...................$52,945,000.00
(q) The Class B Invested Percentage for the Due Period preceding
such Distribution Date was equal ........................7.74%
(r) The Class B Invested Percentage of the amount set forth in
Item 7(d) above is equal to .......................$970,411.28
(s) The amount of Class B Monthly Interest for such Distribution
Date is equal to ..................................$233,840.42
(t) The amount of any Class B Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
.........................................................$0.00
(u) The amount of Class B Additional Interest for such
Distribution Date is equal to ...........................$0.00
(v) The amount of any Class B Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
.........................................................$0.00
(w) Class B Investor Default Amount for such Distribution Date
is equal to .......................................$310,251.75
(x) The Collateral Invested Percentage of the amount set forth
in Item 7(d) above is equal to ..................$1,940,694.26
(y) The Series 1993-1 Principal Shortfall for such Distribution
Date is equal to ........................................$0.00
(z) The Series 1993-1 Excess Principal Collections is equal to
.........................................................$0.00
(aa) The amount of Excess Finance Charge and Administrative
Collections with respect to such Distribution Date is equal to
.................................................$4,922,151.12
(bb) The amount of Excess Finance Charge and Administrative
Collections referred to in Item 7(aa) will be available to be
distributed on such Distribution Date to fund or reimburse the
following items:
(i)to fund the Class A Required Amount, if any, with
respect to such Distribution Date ......................$0.00
(ii) to reimburse Class A Investor Charge-Offs ....$0.00
(iii)to pay current or overdue Class B Monthly Interest,
Class B Additional Interest or the Cumulative
Excess Interest Amount .......................$0.00
(iv) to fund the Class B Investor Default Amount with
respect to such Distribution Date ......$310,251.75
(v) to reimburse certain previous reductions in the Class
B Invested Amount ...........................$0.00
(vi) to pay any portion of the Allocable Servicing Fee not
paid pursuant to clause (i) above ............$0.00
(vii)to fund the Collateral Investor Default Amount
with respect to such Distribution Date ...........$620,462.48
(viii)to reimburse certain previous reductions in the
Collateral Invested Amount .............................$0.00
(ix) to make any required deposit in the Cash Collateral
Account ................................................$0.00
(cc) The amount of Subordinated Principal Collections with
respect to such Distribution Date is equal to ..$43,895,386.46
(dd) The Principal Allocation Percentage is equal to ...87.65%
(ee) The total amount to be distributed to Class A
Certificateholders on such Distribution Date in payment of
principal is equal to ..........................$75,000,000.00
(ff) The total amount to be distributed to Class B
Certificateholders on such Distribution Date in payment of
principal is equal to ...................................$0.00
(gg) The amount of Class A Investor Charge-Offs for such
Distribution Date is equal to ...........................$0.00
(hh) The total amount of reimbursements of Class A Investor
Charge-Offs for such Distribution Date is equal to ......$0.00
(ii) The amount of Class B Investor Charge-Offs and other
reductions in the Class B Invested Amount for such Distribution
Date is equal to ........................................$0.00
(jj) The total amount of reimbursements of Class B Investor
Charge-Offs for such Distribution Date is equal to ......$0.00
(kk) The Class A Invested Amount at the close of business on
such Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
................................................$450,000,000.00
(ll) The Class B Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
.................................................$52,945,000.00
(mm) The Available Collateral Amount as of the close of business
on the preceding Distribution Date (after giving effect to any
withdrawal from the Collateral Account) was equal to
................................................$105,883,000.00
(nn) The Required Collateral Amount as of the close of business
on such Distribution Date, after giving effect to any withdrawal
from the Collateral Account and payments to the Collateral
Interest Holder on such Distribution Date, will be equal to
................................................$105,883,000.00
(oo) The ratio of the Required Collateral Amount to the Class B
Invested Amount as of the close of business on such Distribution
Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Interest Holder on such
Distribution Date, will be equal to ...................199.987%
(pp) The Cumulative Excess Interest Amount as of the close of
business on such Distribution Date, after giving effect to any
payments of interest to Class B Certificateholders on such
Distribution Date, will be equal to ......................$0.00
8. Total amount to be on deposit in the Collection Account
(after giving effect to allocations required to be made pursuant
to the terms of all other Series now outstanding and to the
payment of the Servicer's fee and funding of investor default
amounts) prior to making distributions on such Distribution Dates
is equal to .....................................$82,261,787.22
9. The total amount to be allocated according to the terms of
the Collateral Agreement on such Distribution Date is equal to
..................................................$4,557,847.03
10. Total amount to be distributed from the Collection Account
to the Servicer in respect of the unpaid Allocable Servicing Fee
for the preceding Due Period on such Distribution Date (after
taking into consideration the amounts which have been netted with
respect to this Series against deposits to the Collection
Account) is equal to .....................................$0.00
11. As of the date hereof, to the best knowledge of the
undersigned, the Servicer has performed in all material respects
all its obligations under the Pooling and Servicing Agreement
through the Due Period preceding such Distribution Date or, if
there has been a default in the performance of any such
obligation, set forth in detail the (i) nature of such default,
(ii) the action taken by the Transferor and Servicer, if any, to
remedy such default and (iii) the current status of each such
default; if applicable, insert None. ......................None
12. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed to have
occurred on or prior to such Distribution Date.
13. As of the date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the Receivables
other than pursuant to the Pooling and Servicing Agreement (or,
if there is a Lien, such Lien consists of :
____________________________________________).
14. The amounts specified to be deposited into and withdrawn
from the Collection Account, as well as the amounts specified to
be paid to the Transferor, the Servicer, the Interest Holder and
the Certificateholders are all in accordance with the
requirements of the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this Certificate this 15th day of September, 1998.
*An Aggregate Addition of approximately $1.9 billion of
receivables was made in May 1998 which
addition did not include any Receivables that were 30 or greater
days delinquent thereby favorably
impacting the annualized net default rate.
HOUSEHOLD FINANCE CORPORATION
as Servicer,
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1993-1
Sep 15, 1998
CLASS A CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $86.0778886
2. Principal distribution per $1,000 interest $83.3333333
3. Interest distribution per $1,000 interest $2.7445553
B. Calculation of Class A Interest
1. Calculation of Class A Certificate Rate
(a) One-month LIBOR 5.64063000%
(b) Spread 0.20000000%
(c) Class A Certificate Rate 5.84063000%
2. Beginning Principal Amount $525,000,000.00
3. Days in Interest Period 29
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge and Administrative
Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class A Invested Percentage 76.77%
(b) Principal Allocation Percentage 87.65%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class A Investor Default Amount $3,076,441.00
5. Class A Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class A Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000 interest $0.00
(c) Total reimbursed to Trust in respect of Class A
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000 interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class A Certificates
exceeds the class A Invested Amount as of
the end of the Distribution Date $0.00
6. Allocable Servicing Fee paid for the
Distribution Date $1,264,713.33
7. Deficit Controlled Amortization Amount
for the Distribution Date $0.00
D. Class A Pool Factor 0.5000
E. Receivables Balances
1. Principal Receivables as of the last
day of the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative
Receivables as of the last day $121,428,791.34
of the preceding Due Period
F. Class B Certificates
1. Class B Invested Amount as of the end
of the Distribution Date $52,945,000.00
2. Available Collateral Amount as of the
end of the Distribution Date $105,883,000.00
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1993-1
Sep 15, 1998
CLASS B CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $4.4166667
2. Principal distribution per $1,000 interest $0.0000000
3. Interest distribution per $1,000 interest $4.4166667
B. Calculation of Class B Interest
1. Calculation of Class B Certificate Rate
(a) Class B Coupon 5.30000%
2. Beginning Invested Amount $52,945,000.00
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class B Invested Percentage 7.74%
(b) Principal Allocation Percentage 87.65%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class B Investor Default Amount $310,251.75
5. Class B Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class B Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000 interest $0.00
(c) Total reimbursed to Trust in respect of Class B
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000 interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class B Certificates
exceeds the Class B Invested Amount as of
the end of the Distribution Date $0.00
6. Available Cash Collateral Amount
(a) Available Cash Collateral Amount at the end of the
Distribution Date $0.00
(b) Available Cash Collateral Amount as a percent of
the Class B Invested Amount, each at the end of
the Distribution Date 0.00000%
7. Available Collateral Invested Amount $105,883,000.00
8. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class B Pool Factor 1.0000
E. Receivables Balances
1. Principal Receivables as of the last day
of the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative
Receivables as of the last day of the
preceding Due Period $121,428,791.34
MONTHLY SERVICER'S CERTIFICATE
(Delivered pursuant to subsection 3.04(b)
of the Pooling and Servicing Agreement
HOUSEHOLD FINANCE CORPORATION
HOUSEHOLD AFFINITY FUNDING CORPORATION
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST 1
Class A and Class B Certificates, Series 1993-2
The undersigned, a duly authorized representative of Household
Finance Corporation, as Servicer (the Servicer), pursuant to the
Amended and Restated Pooling and Servicing Agreement, dated as of
August 1, 1993 (the Pooling and Servicing Agreement), by and
among Household Affinity Funding Corporation, as Transferor, the
Servicer, and The Bank of New York, as Trustee, does hereby
certify with respect to the information set forth below as
follows:
1. Capitalized terms used in this Certificate shall have the
respective meanings set forth in the Pooling and Servicing
Agreement.
2. Household Finance Corporation is, as of the date hereof, the
Servicer under the Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring
on September 15, 1998
5. Trust Information.
(a) The aggregate amount of Collections processed for the Due
Period preceding such Distribution Date was equal
to .........................................$2,003,137,996.54
(b) The aggregate amount of such Collections with respect to
Principal Receivables for the Due Period preceding such
Distribution Date was equal to ...............$1,876,176,545.15
(i) The payment rate, [ ( (b) + (c)(ii) + (c)(iii) ) / (f)
], is...................................................26.197%
(c) The aggregate amount of such Collections with respect to
Finance Charge and Administrative Receivables and the Defaulted
Amount for the Due Period preceding such Distribution Date was
equal to ......................................$126,961,451.39
(i) The gross cash yield, [ ((ii)+(iii)+(iv)+(v)) * 12 /
(f) ], is .............................................19.903%
(ii) The amount of such aggregate with respect to Finance
Charge was equal to ............................$80,647,653.74
(iii)The amount of such aggregate with respect to Fees was
equal to .......................................$16,608,437.47
(iv) The amount of such aggregate with respect to
Interchange was equal to........................$27,383,425.18
(v) The amount of such aggregate with respect to Other
Recoveries was equal to ...........................$301,852.00
(vi) The amount of such aggregate with respect to Principal
Recoveries was equal to .........................$2,020,083.00
(d) The Gross Defaulted Amount for the preceding Due Period is
................................................$39,780,586.30
(i)The annualized default rate, (d) *12 / (f), is ...6.34%
(ii) The annualized net default rate, [(d)-(c)(vi)]*12/(f),
is .......................................................6.02%*
(e) The Portfolio Yield for such Distribution Date .....13.89%
(f) The total amount of Principal Receivables in the Trust at
the beginning of the preceding Due Period is equal to
..............................................$7,533,180,277.26
(g) The total amount of Principal Receivables as of the last day
of the immediately preceding Due Period is ...$7,479,231,829.00
(h) The average amount of Principal Receivables in the Trust
during the preceding Due Period (the sum of the amounts in clause
(f) and the amount in clause (g) divided by 2) is equal to
..............................................$7,506,206,053.13
(i) The total amount of Finance Charge and Administrative
Receivables in the Trust as of the last day of the immediately
preceding Due Period is ........................$121,428,791.34
(j) The aggregate outstanding gross balance of the Accounts
which were one payment (5-29 days) delinquent as of the close of
business on the last day of the calendar month preceding such
Distribution Date was equal to .................$269,235,155.98
(k) The aggregate outstanding gross balance of the Accounts
which were two payments (30-59 days) delinquent as of the close
of business on the last day of the calendar month preceding such
Distribution Date was equal to .................$105,098,618.99
(l) The aggregate outstanding gross balance of the Accounts
which were three or more payments (60+ days) delinquent as of the
close of business on the last day of the calendar month preceding
such Distribution Date was equal to ............$182,531,926.67
(m) The aggregate amount of Trust Excess Principal Collections
for such Distribution Date is ................$1,095,362,493.09
(n) The aggregate amount of Principal Shortfalls for such
Distribution Date is ...........................$675,796,138.84
6. Group One Information
(a) The Average Rate for Group One (the weighted average
Certificate Rate reduced to take into account any payments made
pursuant to interest rate agreements, if any ) is equal to
.........................................................5.873%
(b) Group One Total Investor Collections is equal to
...............................................$783,649,887.48
(c) Group One Investor Principal Collections is equal to
...............................................$733,981,154.09
(d) Group One Investor Finance Charge and Administrative
Collections is equal to ........................$49,668,733.39
(e) Group One Investor Additional Amounts is equal to ..$0.00
(f) Group One Investor Default Amount is equal to
................................................$15,562,608.29
(g) Group One Investor Monthly Fees is equal to .$4,911,773.33
(h) Group One Investor Monthly Interest is equal to
.................................................$13,692,788.89
7. Series 1993-2 Information
(a) The Series Adjusted Portfolio Yield for the Due Period
preceding such Distribution Date was equal to ..........14.009%
(b) The Series 1993-2 Allocation Percentage with respect to the
Due Period preceding such Distribution Date was equal to ..8.91%
(c) The Floating Allocation Percentage for the Due Period
preceding such Distribution Date was equal to ............87.65%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period preceding such
Distribution Date is equal to ...............$9,973,438.46
(e) The Floating Allocation Percentage of Series Allocable
Finance Charge and Administrative Collections for the Due Period
preceding such Distribution Date is equal to .....$9,913,913.32
(f) Class A Invested Amount ...................$500,000,000.00
(g) The Class A Invested Percentage with respect to the Due
Period preceding such Distribution Date was equal to ....85.000%
(h) The Class A Invested Percentage of the amount set forth in
Item 7(d) above was equal to .....................$8,477,412.52
(i) The amount of Class A Monthly Interest for such Distribution
Date is equal to .................................$2,333,333.33
(j) The amount of any Class A Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(k) The amount of Class A Additional Interest for such
Distribution Date is equal to ............................$0.00
(l) The amount of any Class A Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(m) The Class A Investor Default Amount for such Distribution
Date is equal to .................................$2,640,358.05
(n) The Allocable Servicing Fee for such Distribution Date is
equal to ...........................................$980,393.33
(o) The Class A Required Amount, if any, with respect to such
Distribution Date is equal to .......................$0.00
(p) Class B Invested Amount ....................$29,412,000.00
(q) The Class B Invested Percentage for the Due Period preceding
such Distribution Date was equal to ................5.000%
(r) The Class B Invested Percentage of the amount set forth in
Item 7(d) above is equal to ........................$498,675.31
(s) The amount of Class B Monthly Interest for such Distribution
Date is equal to ...................................$144,609.00
(t) The amount of any Class B Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(u) The amount of Class B Additional Interest for such
Distribution Date is equal to ............................$0.00
(v) The amount of any Class B Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(w) Class B Investor Default Amount for such Distribution Date
is equal to ........................................$155,316.42
(x) The Collateral Invested Percentage of the amount set forth
in Item 7(d) above is equal to .....................$997,350.63
(y) The Series 1993-2 Principal Shortfall for such Distribution
Date is equal to .........................................$0.00
(z) The Series 1993-2 Excess Principal Collections is equal to
..........................................................$0.00
(aa) The amount of Excess Finance Charge and Administrative
Collections with respect to such Distribution Date is equal to
.................................................$3,560,071.86
(bb) The amount of Excess Finance Charge and Administrative
Collections referred to in Item 7(aa) will be available to be
distributed on such Distribution Date to fund or reimburse the
following items:
(i) to fund the Class A Required Amount, if any, with
respect to such Distribution Date............ $0.00
(ii) to reimburse Class A Investor Charge-Off .....$0.00
(iii)to pay current or overdue Class B Monthly Interest,
Class B Additional Interest or the Cumulative
Excess Interest Amount .......................$0.00
(iv) to fund the Class B Investor Default Amount with
respect to such Distribution Date ......$155,316.42
(v) to reimburse certain previous reductions in the Class
B Invested Amount ............................$0.00
(vi) to pay any portion of the Allocable Servicing Fee not
paid pursuant to clause (i) above ............$0.00
(vii)to fund the Collateral Investor Default Amount
with respect to such Distribution Date ...$310,632.84
(viii)to reimburse certain previous reductions in the
Collateral Invested Amount .....................$0.00
(ix) to make any required deposit in the Cash Collateral
Account ........................................$0.00
(cc) The amount of Subordinated Principal Collections with
respect to such Distribution Date is equal to ...$21,975,620.86
(dd) The Principal Allocation Percentage is equal to ....87.65%
(ee) The total amount to be distributed to Class A
Certificateholders on such Distribution Date in payment of
principal is equal to ....................................$0.00
(ff) The total amount to be distributed to Class B
Certificateholders on such Distribution Date in payment of
principal is equal to ....................................$0.00
(gg) The amount of Class A Investor Charge-Offs for such
Distribution Date is equal to ............................$0.00
(hh) The total amount of reimbursements of Class A Investor
Charge-Offs for such Distribution Date is equal to .......$0.00
(ii) The amount of Class B Investor Charge-Offs and other
reductions in the Class B Invested Amount for such Distribution
Date is equal to .........................................$0.00
(jj) The total amount of reimbursements of Class B Investor
Charge-Offs for such Distribution Date is equal to .......$0.00
(kk) The Class A Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal
................................................$500,000,000.00
(ll) The Class B Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
.................................................$29,412,000.00
(mm) The Available Collateral Amount as of the close of business
on the preceding Distribution Date (after giving effect to any
withdrawal from the Collateral Account) was equal
.................................................$58,824,000.00
(nn) The Required Collateral Amount as of the close of business
on such Distribution Date, after giving effect to any withdrawal
from the Collateral Account and payments to the Collateral
Interest Holder on such Distribution Date, will be equal to
.................................................$58,824,000.00
(oo) The ratio of the Required Collateral Amount to the Class B
Invested Amount as of the close of business on such Distribution
Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Interest Holder on such
Distribution Date, will be equal to ....................200.000%
(pp) The Cumulative Excess Interest Amount as of the close of
business on such Distribution Date, after giving effect to any
payments of interest to Class B Certificateholders on such
Distribution Date, will be equal to ......................$0.00
8. Total amount to be on deposit in the Collection Account
(after giving effect to allocations required to be made pursuant
to the terms of all other Series now outstanding and to the
payment of the Servicer's fee and funding of investor default
amounts) prior to making distributions on such Distribution Dates
is equal to ......................................$5,886,737.82
9. The total amount to be allocated according to the terms of
the Collateral Agreement on such Distribution Date is equal to
..................................................$3,408,795.49
10. Total amount to be distributed from the Collection Account
to the Servicer in respect of the unpaid Allocable Servicing Fee
for the preceding Due Period on such Distribution Date (after
taking into consideration the amounts which have been netted with
respect to this Series against deposits to the Collection
Account) is equal to .....................................$0.00
11. As of the date hereof, to the best knowledge of the
undersigned, the Servicer has performed in all material respects
all its obligations under the Pooling and Servicing Agreement
through the Due Period preceding such Distribution Date or, if
there has been a default in the performance of any such
obligation, set forth in detail the (i) nature of such default,
(ii) the action taken by the Transferor and Servicer, if any, to
remedy such default and (iii) the current status of each such
default; if applicable, insert None. None
12. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed to have
occurred on or prior to such Distribution Date.
13. As of the date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the Receivables
other than pursuant to the Pooling and Servicing Agreement (or,
if there is a Lien, such Lien consists of :
____________________________________________).
14. The amounts specified to be deposited into and withdrawn
from the Collection Account, as well as the amounts specified to
be paid to the Transferor, the Servicer, the Interest Holder and
the Certificateholders are all in accordance with the
requirements of the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this Certificate this 15th day of September, 1998.
*An Aggregate Addition of approximately $1.9 billion of
receivables was made in May 1998 which addition did not include
any Receivables that were 30 or greater days delinquent thereby
favorably impacting the annualized net default rate.
HOUSEHOLD FINANCE CORPORATION
as Servicer,
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1993-2
Sep 15, 1998
CLASS A CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $4.666666660
2. Principal distribution per $1,000 interest $0.000000000
3. Interest distribution per $1,000 interest $4.666666660
B. Calculation of Class A Interest
1. Class A Coupon 5.60000000%
2. Beginning Principal Amount $500,000,000.00
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class A Invested Percentage 85.000%
(b) Principal Allocation Percentage 87.645%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class A Investor Default Amount $2,640,358.05
5. Class A Investor Charge-offs; Reimbursement
of Charge-offs
(a) Class A Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect of Class A
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000
interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class A Certificates
exceeds the class A Invested Amount as of the end
of the Distribution Date $0.00
6. Allocable Servicing Fee paid for the
Distribution Date $980,393.33
7. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class A Pool Factor 1.0000
E. Receivables Balances
1. Principal Receivables as of the last day
of the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative
Receivables as of the last day
of the preceding Due Period $121,428,791.34
F. Class B Certificates
1. Class B Invested Amount as of the end of
the Distribution Date $29,412,000.00
2. Available Collateral Amount as of the end of the
Distribution Date $58,824,000.00
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1993-2
Sep 15, 1998
CLASS B CERTIFICATEHOLDER'S STATEMENT
1. Total distribution per $1,000 interest $4.9166667
2. Principal distribution per $1,000 interest $0.0000000
3. Interest distribution per $1,000 interest $4.9166667
B. Calculation of Class B Interest
1. Class B Coupon 5.90000000%
2. Beginning Invested Amount $29,412,000.00
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class B Invested Percentage 5.000%
(b) Principal Allocation Percentage 87.645%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class B Investor Default Amount $155,316.42
5. Class B Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class B Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect of Class B
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000 interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class B Certificates
exceeds the Class B Invested Amount as of the end
of the Distribution Date $0.00
6. Available Cash Collateral Amount
(a) Available Cash Collateral Amount at the end of the
Distribution Date $0.00
(b) Available Cash Collateral Amount as a percent of
the Class B Invested Amount, each at the end of
the Distribution Date 0.00%
7. Available Collateral Amount $58,824,000.00
8. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class B Pool Factor $1.00000000
E. Receivables Balances
1. Principal Receivables as of the
last day of the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative
Receivables as of the last day of the preceding Due
Period $121,428,791.34
MONTHLY SERVICER'S CERTIFICATE
(Delivered pursuant to subsection 3.04(b)
of the Pooling and Servicing Agreement
HOUSEHOLD FINANCE CORPORATION
HOUSEHOLD AFFINITY FUNDING CORPORATION
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST 1
Class A and Class B Certificates, Series 1994-1
The undersigned, a duly authorized representative of Household
Finance Corporation, as Servicer (the Servicer), pursuant to the
Amended and Restated Pooling and Servicing Agreement, dated as of
August 1, 1993 (the Pooling and Servicing Agreement), by and
among Household Affinity Funding Corporation, as Transferor, the
Servicer, and The Bank of New York, as Trustee, does hereby
certify with respect to the information set forth below as
follows:
1. Capitalized terms used in this Certificate shall have the
respective meanings set forth in the Pooling and Servicing
Agreement.
2. Household Finance Corporation is, as of the date hereof, the
Servicer under the Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring
on September 15, 1998
5. Trust Information.
(a) The aggregate amount of Collections processed for the Due
Period preceding such Distribution Date was equal to
..............................................$2,003,137,996.54
(b) The aggregate amount of such Collections with respect to
Principal Receivables for the Due Period preceding such
Distribution Date was equal to ...............$1,876,176,545.15
(i)The payment rate, [((b) + (c)(ii) + (c)(iii))/(f)], is
.........................................................26.20%
(c) The aggregate amount of such Collections with respect to
Finance Charge and Administrative Receivables and the Defaulted
Amount for the Due Period preceding such Distribution Date was
equal to ......................................$126,961,451.39
(i)The gross cash yield, [ ((ii)+(iii)+(iv)+(v)) * 12 / (f)
], is ...................................... 19.90%
(ii) The amount of such aggregate with respect to Finance
Charge was equal to .............................$80,647,653.74
(iii)The amount of such aggregate with respect to Fees was
equal to ........................................$16,608,437.47
(iv) The amount of such aggregate with respect to
Interchange was equal to ........................$27,383,425.18
(v) The amount of such aggregate with respect to Other
Recoveries was equal to ............................$301,852.00
(vi) The amount of such aggregate with respect to Principal
Recoveries was equal to ..........................$2,020,083.00
(d) The Gross Defaulted Amount for the preceding Due Period is
.................................................$39,780,586.30
(i)The annualized default rate, (d) *12 / (f), is ..6.34%
(ii) The annualized net default rate, [(d)-(c)(vi)] *12 /
(f), is .................................................6.02%*
(e) The Portfolio Yield for such Distribution Date .....13.89%
(f) The total amount of Principal Receivables in the Trust at
the beginning of the preceding Due Period is equal to
............................................. $7,533,180,277.26
(g)The total amount of Principal Receivables as of the last day
of the immediately preceding Due Period is ...$7,479,231,829.00
(h) The average amount of Principal Receivables in the Trust
during the preceding Due Period (the sum of the amounts in clause
(f) and the amount in clause (g) divided by 2) is equal to
..............................................$7,506,206,053.13
(i) The total amount of Finance Charge and Administrative
Receivables in the Trust as of the last day of the immediately
preceding Due Period is ........................$121,428,791.34
(j) The aggregate outstanding gross balance of the Accounts
which were one payment (5-29 days) delinquent as of the close of
business on the last day of the calendar month preceding such
Distribution Date was equal to .................$269,235,155.98
(k) The aggregate outstanding gross balance of the Accounts
which were two payments (30-59 days) delinquent as of the close
of business on the last day of the calendar month preceding such
Distribution Date was equal to ................$105,098,618.99
(l) The aggregate outstanding gross balance of the Accounts
which were three or more payments (60+ days) delinquent as of the
close of business on the last day of the calendar month preceding
such Distribution Date was equal to ...........$182,531,926.67
(m) The aggregate amount of Trust Excess Principal Collections
for such Distribution Date is ............... $1,095,362,493.09
(n) The aggregate amount of Principal Shortfalls for such
Distribution Date is ...........................$675,796,138.84
6. Group One Information
(a) The Average Rate for Group One (the weighted average
Certificate Rate reduced to take into account any payments made
pursuant to interest rate agreements, if any ) is equal to
..........................................................5.87%
(b) Group One Total Investor Collections is equal to
................................................$783,649,887.48
(c) Group One Investor Principal Collections is equal to
................................................$733,981,154.09
(d) Group One Investor Finance Charge and Administrative
Collections is equal to .........................$49,668,733.39
(e) Group One Investor Additional Amounts is equal to ...$0.00
(f) Group One Investor Default Amount is equal to
.................................................$15,562,608.29
(g) Group One Investor Monthly Fees is equal to .$4,911,773.33
(h) Group One Investor Monthly Interest is equal to
.................................................$13,692,788.89
7. Series 1994-1 Information
(a) The Series Adjusted Portfolio Yield for the Due Period
preceding such Distribution Date was equal to ...........14.01%
(b) The Series 1994-1 Allocation Percentage with respect to the
Due Period preceding such Distribution Date was equal to .15.15%
(c) The Floating Allocation Percentage for the Due Period
preceding such Distribution Date was equal to ............87.65%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period preceding
such Distribution Date is equal to .........$16,959,380.88
(e) The Floating Allocation Percentage of Series Allocable
Finance Charge and Administrative Collections for the Due Period
preceding such Distribution Date is equal to ....$16,853,632.43
(f) Class A Invested Amount ...................$850,000,000.00
(g) The Class A Invested Percentage with respect to the Due
Period preceding such Distribution Date was equal to .....85.00%
(h) The Class A Invested Percentage of the amount set forth in
Item 7(d) above was equal to ....................$14,415,473.75
(i) The amount of Class A Monthly Interest for such Distribution
Date is equal to .................................$3,964,973.04
(j) The amount of any Class A Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(k) The amount of Class A Additional Interest for such
Distribution Date is equal to ............................$0.00
(l) The amount of any Class A Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(m) The Class A Investor Default Amount for such Distribution
Date is equal to .................................$4,488,608.68
(n) The Allocable Servicing Fee for such Distribution Date is
equal to .........................................$1,666,666.67
(o) The Class A Required Amount, if any, with respect to such
Distribution Date is equal to .......................$0.00
(p) Class B Invested Amount ....................$50,000,000.00
(q) The Class B Invested Percentage for the Due Period preceding
such Distribution Date was equal to ......................5.00%
(r) The Class B Invested Percentage of the amount set forth in
Item 7(d) above is equal to ........................$847,969.04
(s) The amount of Class B Monthly Interest for such Distribution
Date is equal to ...................................$252,083.33
(t) The amount of any Class B Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(u) The amount of Class B Additional Interest for such
Distribution Date is equal to ............................$0.00
(v) The amount of any Class B Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(w) Class B Investor Default Amount for such Distribution Date
is equal to ........................................$264,035.80
(x) The Collateral Invested Percentage of the amount set forth
in Item 7(d) above is equal to ...................$1,695,938.09
(y) The Series 1994-1 Principal Shortfall for such Distribution
Date is equal to .........................................$0.00
(z) The Series 1994-1 Excess Principal Collections is equal to
..........................................................$0.00
(aa) The amount of Excess Finance Charge and Administrative
Collections with respect to such Distribution Date is equal to
..................................................$6,052,109.52
(bb) The amount of Excess Finance Charge and Administrative
Collections referred to in Item 7(aa) will be available to be
distributed on such Distribution Date to fund or reimburse the
following items:
(i) to fund the Class A Required Amount, if any, with
respect to such Distribution Date .............$0.00
(ii) to reimburse Class A Investor Charge-Offs .....$0.00
(iii)to pay current or overdue Class B Monthly Interest,
Class B Additional Interest or the Cumulative
Excess Interest Amount ........................$0.00
(iv) to fund the Class B Investor Default Amount with
respect to such Distribution Date .......$264,035.80
(v) to reimburse certain previous reductions in the Class
B Invested Amount .............................$0.00
(vi) to pay any portion of the Allocable Servicing Fee not
paid pursuant to clause (i) above .............$0.00
(vii)to fund the Collateral Investor Default Amount
with respect to such Distribution Date ...$528,071.61
(viii)to reimburse certain previous reductions in the
Collateral Invested Amount .....................$0.00
(ix) to make any required deposit in the Cash Collateral
Account ........................................$0.00
(cc) The amount of Subordinated Principal Collections with
respect to such Distribution Date is equal to ...$37,358,256.59
(dd) The Principal Allocation Percentage is equal to ....87.65%
(ee) The total amount to be distributed to Class A
Certificateholders on such Distribution Date in payment of
principal is equal to ....................................$0.00
(ff) The total amount to be distributed to Class B
Certificateholders on such Distribution Date in payment of
principal is equal to ....................................$0.00
(gg) The amount of Class A Investor Charge-Offs for such
Distribution Date is equal to ............................$0.00
(hh) The total amount of reimbursements of Class A Investor
Charge-Offs for such Distribution Date is equal to .......$0.00
(ii) The amount of Class B Investor Charge-Offs and other
reductions in the Class B Invested Amount for such Distribution
Date is equal to .........................................$0.00
(jj) The total amount of reimbursements of Class B Investor
Charge-Offs for such Distribution Date is equal to .......$0.00
(kk) The Class A Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal
................................................$850,000,000.00
(ll) The Class B Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
.................................................$50,000,000.00
(mm) The Available Collateral Amount as of the close of business
on the preceding Distribution Date (after giving effect to any
withdrawal from the Collateral Account) was equal to
................................................$100,000,000.00
(nn) The Required Collateral Amount as of the close of business
on such Distribution Date, after giving effect to any withdrawal
from the Collateral Account and payments to the Collateral
Interest Holder on such Distribution Date, will be equal to
................................................$100,000,000.00
(oo) The ratio of the Required Collateral Amount to the Class B
Invested Amount as of the close of business on such Distribution
Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Interest Holder on such
Distribution Date, will be equal to ....................200.00%
(pp) The Cumulative Excess Interest Amount as of the close of
business on such Distribution Date, after giving effect to any
payments of interest to Class B Certificateholders on such
Distribution Date, will be equal to .....................$0.00
8. Total amount to be on deposit in the Collection Account
(after giving effect to allocations required to be made pursuant
to the terms of all other Series now outstanding and to the
payment of the Servicer's fee and funding of investor default
amounts) prior to making distributions on such Distribution Dates
is equal to .....................................$10,011,998.12
9. The total amount to be allocated according to the terms of
the Collateral Agreement on such Distribution Date is equal to
..................................................$5,794,941.75
10. Total amount to be distributed from the Collection Account
to the Servicer in respect of the unpaid Allocable Servicing Fee
for the preceding Due Period on such Distribution Date (after
taking into consideration the amounts which have been netted with
respect to this Series against deposits to the Collection
Account) is equal to .....................................$0.00
11. As of the date hereof, to the best knowledge of the
undersigned, the Servicer has performed in all material respects
all its obligations under the Pooling and Servicing Agreement
through the Due Period preceding such Distribution Date or, if
there has been a default in the performance of any such
obligation, set forth in detail the (i) nature of such default,
(ii) the action taken by the Transferor and Servicer, if any, to
remedy such default and (iii) the current status of each such
default; if applicable, insert None. None
12. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed to have
occurred on or prior to such Distribution Date.
13. As of the date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the Receivables
other than pursuant to the Pooling and Servicing Agreement (or,
if there is a Lien, such Lien consists of :
____________________________________________).
14. The amounts specified to be deposited into and withdrawn
from the Collection Account, as well as the amounts specified to
be paid to the Transferor, the Servicer, the Interest Holder and
the Certificateholders are all in accordance with the
requirements of the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this Certificate this 15th day of September, 1998.
*An Aggregate Addition of approximately $1.9 billion of
receivables was made in May 1998 which addition did not include
any Receivables that were 30 or greater days delinquent thereby
favorably impacting the annualized net default rate.
HOUSEHOLD FINANCE CORPORATION
as Servicer,
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1994-1
Sep 15, 1998
CLASS A CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $4.6646742
2. Principal distribution per $1,000 interest $0.0000000
3. Interest distribution per $1,000 interest $4.6646742
B. Calculation of Class A Interest
1. Calculation of Class A Certificate Rate
(a) One-month LIBOR 5.640630000%
(b) Spread 0.150000000%
(c) Class A Certificate Rate 5.790630000%
2. Beginning Principal Amount $850,000,000.00
3. Days in Interest Period 29
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class A Invested Percentage 85.00%
(b) Principal Allocation Percentage 87.65%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class A Investor Default Amount $4,488,608.68
5. Class A Investor Charge-offs;
Reimbursement of Charge-offs
(a) Class A Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect of
Class A Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000
interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class A Certificates
exceeds the class A Invested Amount as of the end
of the Distribution Date $0.00
6. Allocable Servicing Fee paid for the
Distribution Date $1,666,666.67
7. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class A Pool Factor 1.0000
E. Receivables Balances
1. Principal Receivables as of the last day of
the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative Receivables as of the
last day of the preceding Due Period $121,428,791.34
F. Class B Certificates
1. Class B Invested Amount as of the end of
the Distribution Date $50,000,000.00
2. Available Collateral Amount as of the end
of the Distribution Date $100,000,000.00
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1994-1
Sep 15, 1998
CLASS B CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $5.041666600
2. Principal distribution per $1,000 interest $0.000000000
3. Interest distribution per $1,000 interest $5.041666600
B. Calculation of Class B Interest
1. Class B Coupon 6.0500000%
2. Beginning Invested Amount $50,000,000.00
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class B Invested Percentage 5.000%
(b) Principal Allocation Percentage 87.65%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class B Investor Default Amount $264,035.80
5. Class B Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class B Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect of Class B
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000
interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class B Certificates
exceeds the Class B Invested Amount as of the end
of the Distribution Date $0.00
6. Available Cash Collateral Amount
(a) Available Cash Collateral Amount at the end of the
Distribution Date $0.00
(b) Available Cash Collateral Amount as a percent of
the Class B Invested Amount, each at the end of
the Distribution Date 0.00%
7. Available Collateral Amount $100,000,000.00
8. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class B Pool Factor 1.00
E. Receivables Balances
1. Principal Receivables as of the last day
of the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative
Receivables as of the last day $121,428,791.34
of the preceding Due Period
MONTHLY SERVICER'S CERTIFICATE
(Delivered pursuant to subsection 3.04(b)
of the Pooling and Servicing Agreement
HOUSEHOLD FINANCE CORPORATION
HOUSEHOLD AFFINITY FUNDING CORPORATION
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST 1
Class A and Class B Certificates, Series 1995-1
The undersigned, a duly authorized representative of Household
Finance Corporation, as Servicer (the Servicer), pursuant to the
Amended and Restated Pooling and Servicing Agreement, dated as of
August 1, 1993 (the Pooling and Servicing Agreement), by and
among Household Affinity Funding Corporation, as Transferor, the
Servicer, and The Bank of New York, as Trustee, does hereby
certify with respect to the information set forth below as
follows:
1. Capitalized terms used in this Certificate shall have the
respective meanings set forth in the Pooling and Servicing
Agreement.
2. Household Finance Corporation is, as of the date hereof, the
Servicer under the Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring
on September 15, 1998
5. Trust Information.
(a) The aggregate amount of Collections processed for the Due
Period preceding such Distribution Date was equal to
..............................................$2,003,137,996.54
(b) The aggregate amount of such Collections with respect to
Principal Receivables for the Due Period preceding such
Distribution Date was equal to ............. $1,876,176,545.15
(i)The payment rate, [ ( (b) + (c)(ii) + (c)(iii) ) / (f) ],
is.......................................................26.197%
(c) The aggregate amount of such Collections with respect to
Finance Charge and Administrative Receivables and the Defaulted
Amount for the Due Period preceding such Distribution Date was
equal to .......................................$126,961,451.39
(i) The gross cash yield, [ ((ii)+(iii)+(iv)+(v)) * 12 /
(f) ], is ...............................................19.903%
(ii) The amount of such aggregate with respect to Finance
Charge was equal to .............................$80,647,653.74
(iii)The amount of such aggregate with respect to Fees was
equal to ........................................$16,608,437.47
(iv) The amount of such aggregate with respect to
Interchange was equal to ........................$27,383,425.18
(v) The amount of such aggregate with respect to Other
Recoveries was equal to ............................$301,852.00
(vi) The amount of such aggregate with respect to Principal
Recoveries was equal to ..........................$2,020,083.00
(d) The Gross Defaulted Amount for the preceding Due Period is
.................................................$39,780,586.30
(i)The annualized default rate, (d) *12 / (f), is ...6.337%
(ii)The annualized net default rate, [(d)-(c)(vi)] *12 /
(f), is .................................................6.015%*
(e) The Portfolio Yield for such Distribution Date ....13.887%
(f) The total amount of Principal Receivables in the Trust at
the beginning of the preceding Due Period is equal to
..............................................$7,533,180,277.26
(g) The total amount of Principal Receivables as of the last day
of the immediately preceding Due Period is ...$7,479,231,829.00
(h) The average amount of Principal Receivables in the Trust
during the preceding Due Period (the sum of the amounts in clause
(f) and the amount in clause (g) divided by 2) is equal to
..............................................$7,506,206,053.13
(i) The total amount of Finance Charge and Administrative
Receivables in the Trust as of the last day of the immediately
preceding Due Period is ........................$121,428,791.34
(j) The aggregate outstanding gross balance of the Accounts
which were one payment (5-29 days) delinquent as of the close of
business on the last day of the calendar month preceding such
Distribution Date was equal to .................$269,235,155.98
(k) The aggregate outstanding gross balance of the Accounts
which were two payments (30-59 days) delinquent as of the close
of business on the last day of the calendar month preceding such
Distribution Date was equal to .................$105,098,618.99
(l) The aggregate outstanding gross balance of the Accounts
which were three or more payments (60+ days) delinquent as of the
close of business on the last day of the calendar month preceding
such Distribution Date was equal to ............$182,531,926.67
(m) The aggregate amount of Trust Excess Principal Collections
for such Distribution Date is ................$1,095,362,493.09
(n) The aggregate amount of Principal Shortfalls for such
Distribution Date is ...........................$675,796,138.84
6. Group One Information
(a) The Average Rate for Group One (the weighted average
Certificate Rate reduced to take into account any payments made
pursuant to interest rate agreements, if any ) is equal to
..........................................................5.873%
(b) Group One Total Investor Collections is equal to
................................................$783,649,887.48
(c) Group One Investor Principal Collections is equal to
................................................$733,981,154.09
(d) Group One Investor Finance Charge and Administrative
Collections is equal to .........................$49,668,733.39
(e) Group One Investor Additional Amounts is equal to ...$0.00
(f) Group One Investor Default Amount is equal to
.................................................$15,562,608.29
(g) Group One Investor Monthly Fees is equal to .$4,911,773.33
(h) Group One Investor Monthly Interest is equal to
.................................................$13,692,788.89
7. Series 1995-1 Information
(a) The Series Adjusted Portfolio Yield for the Due Period
preceding such Distribution Date was equal to ...........14.07%
(b) The Series 1995-1 Allocation Percentage with respect to the
Due Period preceding such Distribution Date was equal to ..9.09%
(c) The Floating Allocation Percentage for the Due Period
preceding such Distribution Date was equal to ............87.65%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period preceding
such Distribution Date is equal to .........$10,202,258.26
(e) The Floating Allocation Percentage of Series Allocable
Finance Charge and Administrative Collections for the Due Period
preceding such Distribution Date is equal to ....$10,112,179.46
(f) Class A Invested Amount ...................$522,000,000.00
(g) The Class A Invested Percentage with respect to the Due
Period preceding such Distribution Date was equal to ...87.000%
(h) The Class A Invested Percentage of the amount set forth in
Item 7(d) above was equal to .....................$8,875,964.69
(i) The amount of Class A Monthly Interest for such Distribution
Date is equal to .................................$2,434,959.92
(j) The amount of any Class A Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(k) The amount of Class A Additional Interest for such
Distribution Date is equal to ............................$0.00
(l) The amount of any Class A Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(m) The Class A Investor Default Amount for such Distribution
Date is equal to .................................$2,756,533.80
(n) The Allocable Servicing Fee for such Distribution Date is
equal to .........................................$1,000,000.00
(o) The Class A Required Amount, if any, with respect to such
Distribution Date is equal to .......................$0.00
(p) Class B Invested Amount ....................$24,000,000.00
(q) The Class B Invested Percentage for the Due Period preceding
such Distribution Date was equal to ......................4.000%
(r) The Class B Invested Percentage of the amount set forth in
Item 7(d) above is equal to ........................$408,090.33
(s) The amount of Class B Monthly Interest for such Distribution
Date is equal to ...................................$154,000.00
(t) The amount of any Class B Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(u) The amount of Class B Additional Interest for such
Distribution Date is equal to ............................$0.00
(v) The amount of any Class B Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(w) Class B Investor Default Amount for such Distribution Date
is equal to ........................................$126,737.19
(x) The Collateral Invested Percentage of the amount set forth
in Item 7(d) above is equal to .....................$918,203.24
(y) The Series 1995-1 Principal Shortfall for such Distribution
Date is equal to .........................................$0.00
(z) The Series 1995-1 Excess Principal Collections is equal to
..........................................................$0.00
(aa) The amount of Excess Finance Charge and Administrative
Collections with respect to such Distribution Date is equal to
..................................................$3,856,764.54
(bb) The amount of Excess Finance Charge and Administrative
Collections referred to in Item 7(aa) will be available to be
distributed on such Distribution Date to fund or reimburse the
following items:
(i)to fund the Class A Required Amount, if any, with
respect to such Distribution Date ..............$0.00
(ii) to reimburse Class A Investor Charge-Offs ......$0.00
(iii)to pay current or overdue Class B Monthly Interest,
Class B Additional Interest or the Cumulative
Excess Interest Amount .........................$0.00
(iv) to fund the Class B Investor Default Amount with
respect to such Distribution Date ........$126,737.19
(v) to reimburse certain previous reductions in the Class
B Invested Amount ..............................$0.00
(vi) to pay the Collateral Monthly Interest for such
Distribution Date equal to ...............$288,867.41
(vii)to pay any portion of the Allocable Servicing Fee
not paid pursuant to clause (i) above ..........$0.00
(viii)to fund the Collateral Investor Default Amount
with respect to such Distribution Date ...$285,158.67
(ix) to reimburse certain previous reductions in the
Collateral Invested Amount .....................$0.00
(x) to make any required deposit in the Cash Collateral
Account ........................................$0.00
(cc) The amount of Subordinated Principal Collections with
respect to such Distribution Date is equal to ...$19,426,293.43
(dd) The Principal Allocation Percentage is equal to ....87.65%
(ee) The total amount to be distributed to Class A
Certificateholders on such Distribution Date in payment of
principal is equal to ...................................$0.00
(ff) The total amount to be distributed to Class B
Certificateholders on such Distribution Date in payment of
principal is equal to ...................................$0.00
(gg) The amount of Class A Investor Charge-Offs for such
Distribution Date is equal to ...........................$0.00
(hh) The total amount of reimbursements of Class A Investor
Charge-Offs for such Distribution Date is equal to ......$0.00
(ii) The amount of Class B Investor Charge-Offs and other
reductions in the Class B Invested Amount for such Distribution
Date is equal to ........................................$0.00
(jj) The total amount of reimbursements of Class B Investor
Charge-Offs for such Distribution Date is equal to ......$0.00
(kk) The Class A Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
................................................$522,000,000.00
(ll) The Class B Invested Amount at the close of business on such
Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
.................................................$24,000,000.00
(mm) The Available Collateral Amount as of the close of business
on the preceding Distribution Date (after giving effect to any
withdrawal from the Collateral Account) was equal
to...............................................$54,000,000.00
(nn) The Required Collateral Amount as of the close of business
on such Distribution Date, after giving effect to any withdrawal
from the Collateral Account and payments to the Collateral
Interest Holder on such Distribution Date, will be equal to
................................................$54,000,000.00
(oo) The ratio of the Required Collateral Amount to the Class B
Invested Amount as of the close of business on such Distribution
Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Interest Holder on such
Distribution Date, will be equal to ...................225.000%
(pp) The Cumulative Excess Interest Amount as of the close of
business on such Distribution Date, after giving effect to any
payments of interest to Class B Certificateholders on such
Distribution Date, will be equal to ......................$0.00
8. Total amount to be on deposit in the Collection Account
(after giving effect to allocations required to be made pursuant
to the terms of all other Series now outstanding and to the
payment of the Servicer's fee and funding of investor default
amounts) prior to making distributions on such Distribution Dates
is equal to ......................................$6,033,828.60
9. The total amount to be allocated according to the terms of
the Collateral Agreement on such Distribution Date is equal
to................................................$3,444,868.68
10. Total amount to be distributed from the Collection Account
to the Servicer in respect of the unpaid Allocable Servicing Fee
for the preceding Due Period on such Distribution Date (after
taking into consideration the amounts which have been netted with
respect to this Series against deposits to the Collection
Account) is equal to .....................................$0.00
11. As of the date hereof, to the best knowledge of the
undersigned, the Servicer has performed in all material respects
all its obligations under the Pooling and Servicing Agreement
through the Due Period preceding such Distribution Date or, if
there has been a default in the performance of any such
obligation, set forth in detail the (i) nature of such default,
(ii) the action taken by the Transferor and Servicer, if any, to
remedy such default and (iii) the current status of each such
default; if applicable, insert None. None
12. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed to have
occurred on or prior to such Distribution Date.
13. As of the date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the Receivables
other than pursuant to the Pooling and Servicing Agreement (or,
if there is a Lien, such Lien consists of :
____________________________________________).
14. The amounts specified to be deposited into and withdrawn
from the Collection Account, as well as the amounts specified to
be paid to the Transferor, the Servicer, the Interest Holder and
the Certificateholders are all in accordance with the
requirements of the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this
Certificate this 15th day of September, 1998.
*An Aggregate Addition of approximately $1.9 billion of
receivables was made in May 1998 which
addition did not include any Receivables that were 30 or greater
days delinquent thereby favorably
impacting the annualized net default rate.
HOUSEHOLD FINANCE CORPORATION
as Servicer,
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1995-1
Sep 15, 1998
CLASS A CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $4.664674176
2. Principal distribution per $1,000 interest $0.00
3. Interest distribution per $1,000 interest $4.664674176
B. Calculation of Class A Interest
1. Calculation of Class A Certificate Rate
(a) One-month LIBOR 5.640630000%
(b) Spread 0.1500%
(c) Class A Certificate Rate 5.790630000%
2. Beginning Principal Amount $522,000,000.00
3. Days in Interest Period 29
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class A Invested Percentage 87.00%
(b) Principal Allocation Percentage 87.65%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class A Investor Default Amount $2,756,533.80
5. Class A Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class A Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect of Class A
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000
interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class A Certificates
exceeds the class A Invested Amount as of the end
of the Distribution Date $0.00
6. Allocable Servicing Fee paid for the
Distribution Date $1,000,000.00
7. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class A Pool Factor 1.00000000
E. Receivables Balances
1. Principal Receivables as of the last day
of the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative Receivables as of the
last day $121,428,791.34
of the preceding Due Period
F. Class B Certificates
1. Class B Invested Amount as of the end of the Distribution
Date $24,000,000.00
2. Available Collateral Amount as of the end of the
Distribution Date $54,000,000.00
Household Finance Corporation
Household Affinity Funding Corp. August 1998
Household Affinity Credit Card Master Trust I , Series 1995-1
Sep 15, 1998
CLASS B CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $6.416666667
2. Principal distribution per $1,000 interest $0.00
3. Interest distribution per $1,000 interest $6.416666667
B. Calculation of Class B Interest
1. Class B Coupon 7.700000000%
2. Beginning Invested Amount $24,000,000.00
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge and Administrative
Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class B Invested Percentage 4.000%
(b) Principal Allocation Percentage 87.645%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class B Investor Default Amount $126,737.19
5. Class B Investor Charge-offs; Reimbursement
of Charge-offs
(a) Class B Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect of Class B
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000
interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class B Certificates
exceeds the Class B Invested Amount as of the end
of the Distribution Date $0.00
6. Available Cash Collateral Amount
(a) Available Cash Collateral Amount at the end of the
Distribution Date $0.00
(b) Available Cash Collateral Amount as a percent of
the Class B Invested Amount, each at the end of
the Distribution Date 0.00%
7. Available Collateral Amount $54,000,000.00
8. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class B Pool Factor 1.00000000
E. Receivables Balances
1. Principal Receivables as of the last day of the preceding
Due Period $7,479,231,829.00
2. Finance Charge and Administrative Receivables as of the
last day of the preceding Due Period $121,428,791.34
MONTHLY SERVICER'S CERTIFICATE
(Delivered pursuant to subsection 3.04(b)
of the Pooling and Servicing Agreement
HOUSEHOLD FINANCE CORPORATION
HOUSEHOLD AFFINITY FUNDING CORPORATION
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST 1
Class A and Class B Certificates, Series 1997-1
The undersigned, a duly authorized representative of Household
Finance Corporation, as Servicer (the Servicer), pursuant to the
Amended and Restated Pooling and Servicing Agreement, dated as of
August 1, 1993 (the Pooling and Servicing Agreement), by and
among Household Affinity Funding Corporation, as Transferor, the
Servicer, and The Bank of New York, as Trustee, does hereby
certify with respect to the information set forth below as
follows:
1. Capitalized terms used in this Certificate shall have the
respective meanings set forth in the Pooling and Servicing
Agreement.
2. Household Finance Corporation is, as of the date hereof, the
Servicer under the Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring
on September 15, 1998
5. Trust Information.
(a) The aggregate amount of Collections processed for the Due
Period preceding such Distribution Date was equal to
..............................................$2,003,137,996.54
(b) The aggregate amount of such Collections with respect to
Principal Receivables for the Due Period preceding such
Distribution Date was equal to ...............$1,876,176,545.15
(i)The payment rate, [((b) + (c)(ii) + (c)(iii))/(f)],
is.......................................................26.20%
(c) The aggregate amount of such Collections with respect to
Finance Charge and Administrative Receivables and the Defaulted
Amount for the Due Period preceding such Distribution Date was
equal to ......................................$126,961,451.39
(i)The gross cash yield, [ ((ii)+(iii)+(iv)+(v)) * 12 / (f)
], is ...................................................19.90%
(ii) The amount of such aggregate with respect to Finance
Charge was equal to .............................$80,647,653.74
(iii)The amount of such aggregate with respect to Fees was
equal to ........................................$16,608,437.47
(iv) The amount of such aggregate with respect to
Interchange was equal to ........................$27,383,425.18
(v) The amount of such aggregate with respect to Other
Recoveries was equal to ...........................$301,852.00
(vi) The amount of such aggregate with respect to Principal
Recoveries was equal to .........................$2,020,083.00
(d) The Gross Defaulted Amount for the preceding Due Period is
................................................$39,780,586.30
(i)The annualized default rate, (d) *12 / (f), is ..6.34%
(ii) The annualized net default rate, [(d)-(c)(vi)] *12 /
(f), is .................................................6.02%*
(e) The Portfolio Yield for such Distribution Date .....13.89%
(f) The total amount of Principal Receivables in the Trust at
the beginning of the preceding Due Period is equal to
..............................................$7,533,180,277.26
(g) The total amount of Principal Receivables as of the last day
of the immediately preceding Due Period is ...$7,479,231,829.00
(h) The average amount of Principal Receivables in the Trust
during the preceding Due Period (the sum of the amounts in clause
(e) and the amount in clause (g) divided by 2) is equal to
..............................................$7,506,206,053.13
(i) The total amount of Finance Charge and Administrative
Receivables in the Trust as of the last day of the immediately
preceding Due Period is ........................$121,428,791.34
(j) The aggregate outstanding gross balance of the Accounts
which were one payment (5-29 days) delinquent as of the close of
business on the last day of the calendar month preceding such
Distribution Date was equal to ................$269,235,155.98
(k) The aggregate outstanding gross balance of the Accounts
which were two payments (30-59 days) delinquent as of the close
of business on the last day of the calendar month preceding such
Distribution Date was equal to ................$105,098,618.99
(l) The aggregate outstanding gross balance of the Accounts
which were three or more payments (60+ days) delinquent as of the
close of business on the last day of the calendar month preceding
such Distribution Date was equal to ...........$182,531,926.67
(m) The aggregate amount of Trust Excess Principal Collections
for such Distribution Date is ...............$1,095,362,493.09
(n) The aggregate amount of Principal Shortfalls for such
Distribution Date is ..........................$675,796,138.84
6. Group Two Information
(a) The Average Rate for Group Two (the weighted average
Certificate Rate reduced to take into account any payments made
pursuant to interest rate agreements, if any ) is equal to
........................................................5.8234%
(b) Group Two Total Investor Collections is equal to
...............................................$265,908,676.39
(c) Group Two Investor Principal Collections is equal to
...............................................$249,055,043.97
(d) Group Two Investor Finance Charge and Administrative
Collections is equal to ........................$16,853,632.43
(e) Group Two Investor Additional Amounts is equal to ..$0.00
(f) Group Two Investor Default Amount is equal to
.................................................$5,280,716.09
(g) Group Two Investor Monthly Fees is equal to .$1,666,666.67
(h) Group Two Investor Monthly Interest is equal to
..................................................$4,691,096.39
7. Series 1997-1 Information
(a) The Series Adjusted Portfolio Yield for the Due Period
preceding such Distribution Date was equal to ............13.89%
(b) The Series 1997-1 Allocation Percentage with respect to the
Due Period preceding such Distribution Date was equal to
..........................................................15.15%
(c) The Floating Allocation Percentage for the Due Period
preceding such Distribution Date was equal to ............87.65%
(d) The aggregate amount of Reallocated Finance Charge and
Administrative Collections for the Due Period preceding
such Distribution Date is equal to .........$16,853,632.43
(e) The Floating Allocation Percentage of Series Allocable
Finance Charge and Administrative Collections for the Due Period
preceding such Distribution Date is equal to ....$16,853,632.43
(f) Class A Invested Amount ...................$870,000,000.00
(g) The Class A Invested Percentage with respect to the Due
Period preceding such Distribution Date was equal to .....87.00%
(h) The Class A Invested Percentage of the amount set forth in
Item 7(d) above was equal to ....................$14,662,660.21
(i) The amount of Class A Monthly Interest for such Distribution
Date is equal to .................................$4,023,224.86
(j) The amount of any Class A Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(k) The amount of Class A Additional Interest for such
Distribution Date is equal to ............................$0.00
(l) The amount of any Class A Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(m) The Class A Investor Default Amount for such Distribution
Date is equal to .................................$4,594,223.00
(n) The Allocable Servicing Fee for such Distribution Date is
equal to .........................................$1,666,666.67
(o) The Class A Required Amount, if any, with respect to such
Distribution Date is equal to .......................$0.00
(p) Class B Invested Amount ....................$47,500,000.00
(q) The Class B Invested Percentage for the Due Period preceding
such Distribution Date was equal to ......................4.75%
(r) The Class B Invested Percentage of the amount set forth in
Item 7(d) above is equal to .......................$800,547.54
(s) The amount of Class B Monthly Interest for such Distribution
Date is equal to .................................. $226,546.33
(t) The amount of any Class B Monthly Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(u) The amount of Class B Additional Interest for such
Distribution Date is equal to ............................$0.00
(v) The amount of any Class B Additional Interest previously due
but not distributed on a prior Distribution Date is equal to
..........................................................$0.00
(w) Class B Investor Default Amount for such Distribution Date
is equal to ........................................$250,834.01
(x) The Collateral Invested Percentage of the amount set forth
in Item 7(d) above is equal to ...................$1,390,424.68
(y) The Series 1997-1 Principal Shortfall for such Distribution
Date is equal to .........................................$0.00
(z) The Series 1997-1 Excess Principal Collections is equal to
to .......................................................$0.00
(aa) The amount of Excess Finance Charge and Administrative
Collections with respect to such Distribution Date is equal to
..................................................$6,342,971.57
(bb) The amount of Excess Finance Charge and Administrative
Collections referred to in Item 7(aa) will be available to be
distributed on such Distribution Date to fund or reimburse the
following items:
(i) to fund the Class A Required Amount, if any, with
respect to such Distribution Date ........................$0.00
(ii) to reimburse Class A Investor Charge-Offs ......$0.00
(iii)to pay current or overdue Class B Monthly Interest,
Class B Additional Interest or the Cumulative
Excess Interest Amount .........................$0.00
(iv) to fund the Class B Investor Default Amount with
respect to such Distribution Date ........$250,834.01
(v) to reimburse certain previous reductions in the Class
B Invested Amount ..............................$0.00
(vi) to pay the Collateral Monthly Interest for such
Distribution Date equal to ...............$441,325.20
(vii)to pay any portion of the Allocable Servicing Fee
not paid pursuant to clause (i) above ..........$0.00
(viii)to fund the Collateral Investor Default Amount
with respect to such Distribution Date ...$435,659.08
(ix) to reimburse certain previous reductions in the
Collateral Invested Amount .....................$0.00
(x) to make any required deposit in the Cash Collateral
Account ........................................$0.00
(xi) to make any required deposit to the Reserve Account
................................................$0.00
(cc) The amount of Subordinated Principal Collections with
respect to such Distribution Date is equal to ...$32,377,155.72
(dd) The Principal Allocation Percentage is equal to ....87.65%
(ee) The total amount to be distributed to Class A
Certificateholders on such Distribution Date in payment of
principal is equal to ..............................$0.00
(ff) The total amount to be distributed to Class B
Certificateholders on such Distribution Date in payment of
principal is equal to ...................................$0.00
(gg) The amount of Class A Investor Charge-Offs for such
Distribution Date is equal to ...........................$0.00
(hh) The total amount of reimbursements of Class A Investor
Charge-Offs for such Distribution Date is equal to ......$0.00
(ii) The amount of Class B Investor Charge-Offs and other
reductions in the Class B Invested Amount for such Distribution
Date is equal to ........................................$0.00
(jj) The total amount of reimbursements of Class B Investor
Charge-Offs for such Distribution Date is equal to ......$0.00
(kk) The Class A Invested Amount at the close of business on
such Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
...............................................$870,000,000.00
(ll) The Class B Invested Amount at the close of business on
such Distribution Date (after giving effect to all payments and
adjustments on such Distribution Date) will be equal to
.................................................$47,500,000.00
(mm) The Available Collateral Amount as of the close of business
on the preceding Distribution Date (after giving effect to any
withdrawal from the Collateral Account) was equal to
.................................................$82,500,000.00
(nn) The Required Collateral Amount as of the close of business
on such Distribution Date, after giving effect to any withdrawal
from the Collateral Account and payments to the Collateral
Interest Holder on such Distribution Date, will be equal to
.................................................$82,500,000.00
(oo) The ratio of the Required Collateral Amount to the Class B
Invested Amount as of the close of business on such Distribution
Date, after giving effect to any withdrawal from the Collateral
Account and payments to the Collateral Interest Holder on such
Distribution Date, will be equal to .....................173.68%
(pp) The Cumulative Excess Interest Amount as of the close of
business on such Distribution Date, after giving effect to any
payments of interest to Class B Certificateholders on such
Distribution Date, will be equal to ......................$0.00
8. Total amount to be on deposit in the Collection Account
(after giving effect to allocations required to be made pursuant
to the terms of all other Series now outstanding and to the
payment of the Servicer's fee and funding of investor default
amounts) prior to making distributions on such Distribution Dates
is equal to ......................................$9,906,249.67
9. The total amount to be allocated according to the terms of
the Collateral Agreement on such Distribution Date is equal to
..................................................$5,656,478.48
10. Total amount to be distributed from the Collection Account
to the Servicer in respect of the unpaid Allocable Servicing Fee
for the preceding Due Period on such Distribution Date (after
taking into consideration the amounts which have been netted with
respect to this Series against deposits to the Collection
Account) is equal to .....................................$0.00
11. The Class A Adjusted Amount ...............$870,000,000.00
12. The Class B Adjusted Amount ................$47,500,000.00
13. The Controlled Accumulation Amount ..................$0.00
14. The Controlled Deposit Amount .......................$0.00
15. The Deficit Controlled Deposit Amount ...............$0.00
16. The Principal Funding Account Balance ...............$0.00
17. The Principal Funding Investment Shortfall ..........$0.00
18. The Required Reserve Account Amount .........$9,633,750.00
19. The Reserve Account Balance .................$9,633,750.00
20. As of the date hereof, to the best knowledge of the
undersigned, the Servicer has performed in all material respects
all its obligations under the Pooling and Servicing Agreement
through the Due Period preceding such Distribution Date or, if
there has been a default in the performance of any such
obligation, set forth in detail the (i) nature of such default,
(ii) the action taken by the Transferor and Servicer, if any, to
remedy such default and (iii) the current status of each such
default; if applicable, insert None. None
21. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed to have
occurred on or prior to such Distribution Date.
22. As of the date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the Receivables
other than pursuant to the Pooling and Servicing Agreement (or,
if there is a Lien, such Lien consists of :
____________________________________________).
23. The amounts specified to be deposited into and withdrawn
from the Collection Account, as well as the amounts specified to
be paid to the Transferor, the Servicer, the Interest Holder and
the Certificateholders are all in accordance with the
requirements of the Pooling and Servicing Agreement.
IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this Certificate this 15th day of September, 1998.
*An Aggregate Addition of approximately $1.9 billion of
receivables was made in May 1998 which addition did not include
any Receivables that were 30 or greater days delinquent thereby
favorably impacting the annualized net default rate.
HOUSEHOLD FINANCE CORPORATION
as Servicer,
By: _______________________________
Name: Steven H. Smith
Title: Servicing Officer
Household Finance Corporation
Household Card Funding Corp. August 1998
Household Credit Card Master Trust I , Series 1997-1
Sep 15, 1998
CLASS A CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $4.624396391
2. Principal distribution per $1,000 interest $0.00
3. Interest distribution per $1,000 interest $4.624396391
B. Calculation of Class A Interest
1. Calculation of Class A Certificate Rate
(a) One-month LIBOR 5.640630000%
(b) Spread 0.1000%
(c) Class A Certificate Rate 5.740630000%
2. Beginning Principal Amount $870,000,000.00
3. Days in Interest Period 29
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class A Invested Percentage 87.00%
(b) Principal Allocation Percentage 87.65%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class A Investor Default Amount $4,594,223.00
5. Class A Investor Charge-offs; Reimbursement of
Charge-offs
(a) Class A Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect
of Class A Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000
interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the Class A Certificates
exceeds the class A Invested Amount as of the end
of the Distribution Date $0.00
6. Allocable Servicing Fee paid for the
Distribution Date $1,666,666.67
7. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class A Pool Factor 1.0000000
E. Receivables Balances
1. Principal Receivables as of the last
day of the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative
Receivables as of the last day $121,428,791.34
of the preceding Due Period
F. Class B Certificates
1. Class B Invested Amount as of the end
of the Distribution Date $47,500,000.00
2. Available Collateral Invested Amount
as of the end of the Distribution Date $82,500,000.00
Household Finance Corporation
Household Card Funding Corp. August 1998
Household Credit Card Master Trust I , Series 1997-1
Sep 15, 1998
CLASS B CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest $4.769396421
2. Principal distribution per $1,000 interest $0.00
3. Interest distribution per $1,000 interest $4.769396421
B. Calculation of Class B Interest
1. Calculation of Class B Certificate Rate
(a) One-month LIBOR 5.640630000%
(b) Spread 0.2800%
(c) Class B Certificate Rate 5.920630000%
2. Beginning Invested Amount $47,500,000.00
3. Days in Interest Period 29
C. Performance of Trust
1. Collections of Receivables
(a) Total Collections $2,003,137,996.54
(b) Collections of Finance Charge
and Administrative Receivables $126,961,451.39
(c) Collections of Principal $1,876,176,545.15
2. Allocation of Receivables
(a) Class B Invested Percentage 4.750%
(b) Principal Allocation Percentage 87.645%
3. Delinquent Gross Balances
(a) Delinquent 5 - 29 days $269,235,155.98
% of Gross Receivables 3.54%
(b) Delinquent 30 - 59 days $105,098,618.99
% of Gross Receivables 1.38%
(c) Delinquent 60+ days $182,531,926.67
% of Gross Receivables 2.40%
4. Class B Investor Default Amount $250,834.01
5. Class B Investor Charge-offs; Reimbursement
of Charge-offs
(a) Class B Investor Charge-offs, if any, for the
Distribution Date $0.00
(b) The amount of Item 5.(a) per $1,000
interest $0.00
(c) Total reimbursed to Trust in respect of Class B
Investor Charge-offs $0.00
(d) The amount of Item 5.(c) per $1,000
interest $0.00
(e) The amount, if any, by which the outstanding
principal balance of the
Class B Certificates exceeds the Class
B Invested Amount as of the end of the
Distribution Date $0.00
6. Available Cash Collateral Amount
(a) Available Cash Collateral Amount at
the end of the Distribution Date $0.00
(b) Available Cash Collateral Amount as a
percent of the Class B Invested Amount, each at
the end of the Distribution Date 0.00%
7. Available Collateral Invested Amount $82,500,000.00
8. Deficit Controlled Amortization Amount for the
Distribution Date $0.00
D. Class B Pool Factor 1.00000000
E. Receivables Balances
1. Principal Receivables as of the last day of
the preceding Due Period $7,479,231,829.00
2. Finance Charge and Administrative
Receivables as of the last day
of the preceding Due Period $121,428,791.34
