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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1999
Purpose: To supplement in part Part IV, Item 14(c) of Company's
previously filed Form 10-K in order to file as an
exhibit the Annual Servicing Report of Company's
Independent Public Accountants.
Comission 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
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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: May 5, 2000 By: /s/ John W. Blenke
John W. Blenke
Assistant Secretary
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Exhibit Index
Exhibit No. Exhibit
99 Copy of Independent Public Accountants Annual Servicing
Reported dated March 28, 2000.
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Independent Accountants' Report on Applying Agreed-Upon
Procedures
To Household Finance Corporation:
We have performed procedures enumerated below in items A. and B.
in conjunction with Section 3.06 of the Pooling and Servicing
Agreement, dated August 1, 1993, as amended and supplemented (the
"Agreement").
A. We have audited, in accordance with generally accepted
auditing standards, the consolidated financial statements of
Household Finance Corporation (the "Servicer") and
subsidiaries as of December 31, 1999, and have issued our
report thereon dated January 14, 2000. We have not audited
any financial statements of the Servicer as of any date or for
any period subsequent to December 31, 1999, or performed any
audit procedures subsequent to the date of our report on those
statements.
In connection with our audit, nothing came to our
attention that caused us to believe that the Servicer was not
in compliance with any of the terms, covenants, provisions, or
conditions in Sections 3.01, 3.02, 3.04, 3.09, 3.10, 4.02,
4.03, 4.04, and 8.08 (to the extent such sections are
applicable to Household Finance Corporation as Servicer) of
the Agreement, or Sections 3, 4.08, 4.09, 4.10, 4.11, 4.12,
4.13, 4.14, 4.15, 4.16, and 4.17 (to the extent such sections
are applicable to Household Finance Corporation as Servicer)
of the Series 1993-1, Series 1993-2, Series 1993-B, Series
1994-1, Series 1995-1, Series 1996-A, Series 1996-B, Series
1997-A, Series 1997-B, Series 1997-1, Series 1998-A, Series
1998-1, Series 1999-A, Series 1999-B, Series 1999-D, and
Series 1999-E. Supplements, in conjunction with the servicing
of consumer revolving credit card receivables owned by the
Household Affinity Credit Card Master Trust I insofar as they
relate to accounting matters. It should be noted, however,
that our audit was not directed primarily toward obtaining
knowledge of such noncompliance.
As a part of our audit, we obtained an understanding of
the Servicer's internal control structure over the Servicer's
entire consumer revolving credit card portfolio, including
those loans serviced under the Agreement, and the related
Supplements, to the extent considered necessary in order to
assess control risk as required by generally accepted auditing
standards. The purpose of our consideration of the internal
control structure, which includes the accounting systems, was
to determine the nature, timing, and extent of the auditing
procedures necessary for expressing an opinion on the
financial statements. Such audit procedures, however, were not
performed in order to express a separate opinion on the
Household Affinity Credit Card Master Trust I.
Our audit disclosed no exceptions or errors in records
relating to credit card receivables serviced by the Servicer
that, in our opinion, Section 3.06 of the Agreement required
us to report.
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B. We have performed the procedure described in the following
paragraph, which was agreed to by the management of the
Servicer, the Bank of New York as Trustee, and the Credit
Enhancement Provider (together, the "Specified Users"), with
respect to Section 3.06 of the Agreement, in conjunction with
the servicing of consumer revolving credit card receivables
owned by the Household Affinity Credit Card Master Trust I.
This agreed-upon procedure was performed in accordance with
standards established by the American Institute of Certified
Public Accountants. The sufficiency of the procedure is
solely the responsibility of the Specified Users of the
report. Consequently, we make no representation regarding the
sufficiency of the procedure described below either for the
purpose for which this report has been requested or for any
other purpose.
The procedure and associated findings are as follows:
From the Monthly Servicer's Certificates prepared by the
Servicer between January, 1999 and December, 1999, we selected
the following months and performed the following procedure:
We compared the mathematical calculation of each amount
set forth in the Monthly Servicer's Certificates to the
Servicer's accounting records for the month of March for
Series 1993-1, Series 1993-2, Series 1994-1, Series 1995-1,
Series 1996-A, Series 1996-B, Series 1997-1, Series 1997-A,
Series 1998-1 and Series 1998-A, for the month of May for
Series 1999-B, for the month of September for Series 1999-A,
and for the month of November for Series 1999-D and 1999-E
and found them to be in agreement. For Series 1993-B and
1997-B, we noted no activity in the series for the period
between January, 1999 and December, 1999. Our comparisons
were based on records provided to us by the Servicer and the
methodology set forth in the Agreement.
With respect to the procedure performed in item B. above, we were
not engaged to, and did not, perform an audit, the objective of
which would be the expression of an opinion on the Monthly
Servicer's Certificates described above. Accordingly, we do not
express such an opinion. Had we been engaged to perform
additional procedures, other matters might have come to our
attention that would have been reported to you.
This report is intended solely for the information and use of the
Specified Users and should not be used for any other purpose.
ARTHUR ANDERSEN LLP
Chicago, Illinois
March 28, 2000
