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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to _______
Commission File Nos. 0-23942
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 36-3670374
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation of Servicer) Number of Registrant
2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070
(Address of principal executive offices of (Zip Code)
Servicer)
Servicer's telephone number, including area code (847) 564-5000
Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.
Yes X No _____
The aggregate principal amount of the Certificates held by non-
affiliates of the Servicer as of December 31, 1999 was
approximately $2.8 billion.
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INTRODUCTORY NOTE
Household Affinity Funding Corporation (the "Seller") is the
seller under a Pooling and Servicing Agreement dated as of April
30, 1993, as amended by the Amended and Restated Pooling and
Servicing Agreement dated as of August 1, 1993 (collectively, the
"Agreement") by and among the Seller, Household Finance
Corporation, as Servicer (the "Servicer") and The Bank of New York,
as trustee (the "Trustee"), as supplemented thereby by various
series supplements, providing for the issuance of certificates in
varying series (the "Certificates"), and is the originator of the
trust called the Household Affinity Credit Card Master Trust I (the
"Registrant" or the "Trust").
Each Certificate represents an undivided interest in a pool of
receivables held by the Trust. The Certificates issued, or to be
issued, may be senior ("Class A Certificates"), subordinated
("Class B Certificates") and Seller Certificate(s). The Registrant
has prepared this Form 10-K in reliance upon various no-action
letters issued by the Securities and Exchange Commission (the
"Commission") to other trusts which are substantially similar to
the Trust and as a result of the Commission's issuance of a
favorable response to the Trust's Application for Exemptive Order
pursuant to Section 12(h) of the Securities Exchange Act of 1934.
Items designated herein as "Not Applicable" have been omitted as a
result of this reliance and in anticipation of favorable action by
the Commission.
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PART I
Item 1. Business.
Not Applicable.
Item 2. Properties.
Not Applicable.
Item 3. Legal Proceedings.
The Servicer is not aware of any material pending legal
proceedings involving either the Registrant, the Trustee,
the Seller or the Servicer with respect to the
Certificates or the Registrant's property.
Item 4. Submission of Matters to a Vote of Security Holders.
No vote or consent of the holders of the Certificates
(the "Certificateholders") was solicited for any purpose
during the year ended December 31, 1999.
PART II
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters.
To the best knowledge of the Servicer, there is no
established public trading market for the Certificates.
As of March 1, 2000, there were 75 Class A
Certificateholders (no more than 42 for any one series)
and 9 Class B Certificateholders, some of whom may be
holding Certificates for the accounts of others.
Item 6. Selected Financial Data.
Not Applicable.
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Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations.
Not Applicable.
Item 8. Financial Statements and Supplementary Data.
Not Applicable.
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Not Applicable.
Item 11. Executive Compensation.
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and
Management.
The Servicer is not aware of any Schedules 13D or 13G
filed with the Securities and Exchange Commission in
respect of the Certificates. All Certificates are held
in the name of The Depository Trust Company (DTC). The
Servicer will provide, without charge, a listing of the
beneficial owners as provided by DTC as of March 1, 2000.
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Item 13. Certain Relationships and Related Transactions.
None or Not Applicable.
PART IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on
Form 8-K.
(a) List the following documents filed as a part of the
report:
(1) Financial Statements
Not Applicable.
(2) Financial Statement Schedules
Not Applicable.
(3) The Servicer is obligated to prepare an Annual
Statement to Certificateholders for the year
1998, and Independent Public Accountants are
required to prepare an Annual Servicing Report
pertaining to the compliance of the Servicer
with its servicing obligations pursuant to the
Agreement. Copies of said documents are or
will be filed as exhibits to this Form 10-K
when they are available.
(b) The Registrant filed the following current reports
on Form 8-K for the fourth quarter of 1999.
Date of Reports Items Covered
October 15, 1999 Item 7 -- Statement to
November 15, 1999 Certificateholders with respect
December 15, 1999 to distributions made on
October 15, 1999, November 15,
1999 and December 15, 1999.
(c) Exhibit 99. Copy of Annual Statement to
Certificateholders for the year 1999.
(d) Not Applicable.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Servicer has duly caused this
report to be signed on behalf of the Household Affinity Credit Card
Master Trust I by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST I
(Registrant)
Date: March 27, 2000 By:/s/John W. Blenke
John W. Blenke
Assistant Secretary
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Exhibit Index
Exhibit No. Exhibit
99 Copy of Annual Statement to
Certificateholders for the year
ended December 31, 1999.
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<TABLE>
<CAPTION>
1999 Totals
Household Finance Corporation
Household Affinity Funding
Corporation
Household Affinity Credit Card
Master Trust I, Series 1993-1
<S> <C>
Original Class A Principal 900,000,000.00
Number of Class A Bonds (000's) 900,000.00
Original Class B Principal 52,945,000.00
Number of Class B Bonds (000's) 52,945.00
CLASS A
Class A Principal Distributions 225,000,000.00
Class A Interest 2,093,459.83
CLASS B
Class B Principal Distributions 52,945,000.00
Class B Interest 935,361.68
Household Finance Corporation
Household Affinity Funding
Corporation
Household Affinity Credit Card
Master Trust I, Series 1993-2
Original Class A Principal 500,000,000.00
Number of Class A Bonds (000's) 500,000.00
Original Class B Principal 29,412,000.00
Number of Class B Bonds (000's) 29,412.00
CLASS A
Class A Principal Distributions 41,666,666.67
Class A Interest 27,999,999.96
CLASS B
Class B Principal Distributions 0.00
Class B Interest 1,735,308.00
Household Finance Corporation
Household Affinity Funding
Corporation
Household Affinity Credit Card
Master Trust I, Series 1994-1
Original Class A Principal 850,000,000
Number of Class A Bonds (000's) 850,000
Original Class B Principal 50,000,000
Number of Class B Bonds (000's) 50,000
CLASS A
Class A Principal Distributions 743,750,000.00
Class A Interest 13,206,290.74
CLASS B
Class B Principal Distributions 50,000,000.00
Class B Interest 2,016,666.64
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Household Finance Corporation
Household Affinity Funding
Corporation
Household Affinity Credit Card
Master Trust I, Series 1995-1
Original Class A Principal 522,000,000.00
Number of Class A Bonds (000's) 522,000.00
Original Class B Principal 24,000,000.00
Number of Class B Bonds (000's) 24,000.00
CLASS A
Class A Principal Distribution 174,000,000.00
Class A Interest 26,874,706.58
CLASS B
Class B Principal Distribution 0.00
Class B Interest 1,848,000.00
Household Finance Corporation
Household Affinity Funding
Corporation
Household Affinity Credit Card
Master Trust I, Series 1997-1
Original Class A Principal 870,000,000
Number of Class A Bonds (000's) 870,000
Original Class B Principal 47,500,000
Number of Class B Bonds (000's) 47,500
CLASS A
Class A Principal Distribution 0.00
Class A Interest 46,388,921.53
CLASS B
Class B Principal Distribution 0.00
Class B Interest 2,619,415.97
Household Finance Corporation
Household Affinity Funding
Corporation
Household Affinity Credit Card
Master Trust I, Series 1998-1
Original Class A Principal 844,000,000
Number of Class A Bonds (000's) 844,000
Original Class B Principal 46,100,000
Number of Class B Bonds (000's) 46,100
CLASS A
Class A Principal Distribution 0.00
Class A Interest 45,173,730.37
CLASS B
Class B Principal Distribution 0.00
Class B Interest 2,560,908.26
</TABLE>
