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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 12, 2000
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FIRST USA BANK, NATIONAL ASSOCIATION
(As Successor to BANK ONE, N.A.)
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(Exact name of registrant as specified in its charter)
(As Servicer on behalf of BANC ONE CREDIT CARD MASTER TRUST)
United States
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(State or other jurisdiction of incorporation)
0-25636 51-0269396
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(Commission File Number) (IRS Employer Identification Number)
201 North Walnut Street, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip Code)
(302) 594-4117
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Registrant's telephone number, including area code
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Item 5. Other Events
In the May reporting period, certain charge-off policies for the
Trust were changed in order to conform these policies to new
guidelines adopted by the Federal Financial Institution Examination
Council. The changes relate to the timing of recognition of losses on
accounts of which the cardholder has filed for bankruptcy or died. The
implementation of these changes has caused a one-time acceleration of
certain charge-offs. Accounts of bankrupt cardholders were previously
charged off 90 days after First USA Bank, National Association, the
Servicer of the Trust, was notified of bankruptcy. These accounts will
now be charged off 60 days after notification. Accounts of deceased
customers were previously charged off after 180 days but under the new
policy will be charged off after 60 days.
These policy changes will cause a one-time increase in net
credit losses for the May Trust results. Reported Trust net credit
losses for May were 10.82% after the one time increase in charge-offs
due to bankruptcy or death of 4.56%. Without the impact of the policy
change, net credit losses would have been 6.26%. The impact on one
month excess spread and three month average excess spread was
approximately 4.56% and 1.52%, respectively.
On June 12, 2000, the Banc One Credit Card Master Trust (the
"Trust") made a regular monthly distribution of principal and/or
interest to holders of the following Certificates issued by the Trust,
each of which is included in Group One and is a Principal Sharing
Series:
6.15% Class A Asset Backed Certificates, Series 1995-A
6.30% Class B Asset Backed Certificates, Series 1995-A
6.30% Class A Asset Backed Certificates, Series 1995-B
6.45% Class B Asset Backed Certificates, Series 1995-B
Floating Rate Class A Asset Backed Certificates, Series 1996-A
Floating Rate Class B Asset Backed Certificates, Series 1996-A
Item 7. Financial Statements and Exhibits
(c) Exhibits.
See page 4 for Exhibit Index.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First USA Bank, N.A., as Servicer, on behalf of
BANC ONE CREDIT CARD MASTER TRUST
By: /s/ Tracie H. Klein
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Name: Tracie H. Klein
Title: First Vice President
Date: June 12, 2000
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EXHIBIT INDEX
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Exhibit Description Page
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99.1 The Series Allocation Report for the monthly Period ending May 31, 2000. 5-6
99.2 Banc One Credit Card Master Trust - Summary Report for Series 1995-A 7-8
99.3 Banc One Credit Card Master Trust - Summary Report Series 1995-B 9-10
99.4 Banc One Credit Card Master Trust - Summary Report for Series 1996-A 11-12
99.5 Monthly Servicer's Certificates 13-15
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