Exhibit 99.3
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1995-C
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
RECEIVABLES | | |
|
| Beginning of the Month Principal Receivables: | | $2,567,606,869.18 |
| Beginning of the Month Finance Charge Receivables: | | $127,804,091.72 |
| Beginning of the Month Discounted Receivables: | | $0.00 |
| Beginning of the Month Total Receivables: | | $2,695,410,960.90 |
|
| Removed Principal Receivables: | | $0.00 |
| Removed Finance Charge Receivables: | | $0.00 |
| Removed Total Receivables: | | $0.00 |
|
| Additional Principal Receivables: | | $0.00 |
| Additional Finance Charge Receivables: | | $0.00 |
| Additional Total Receivables: | | $0.00 |
|
| Discounted Receivables Generated this Period: | | $0.00 |
|
| End of the Month Principal Receivables: | | $2,599,321,035.99 |
| End of the Month Finance Charge Receivables: | | $123,320,345.99 |
| End of the Month Discounted Receivables: | | $0.00 |
| End of the Month Total Receivables: | | $2,722,641,381.98 |
|
| Special Funding Account Balance | | $0.00 |
| Aggregate Adjusted Invested Amount (all Master Trust II Series) | | $756,500,000.00 |
| End of the Month Transferor Amount | | $1,842,821,035.99 |
| End of the Month Transferor Percentage | | 70.90% |
|
DELINQUENCIES AND LOSSES | | |
|
| End of the Month Delinquencies: | | |
|
| 30-59 Days Delinquent | | $62,352,312.55 |
| 60-89 Days Delinquent | | $42,924,343.01 |
| 90+ Days Delinquent | | $89,270,422.17 |
|
| Total 30+ Days Delinquent | | $194,547,077.73 |
| Delinquent Percentage | | 7.15% |
|
| Defaulted Accounts During the Month | | $17,225,836.70 |
| Annualized Default Percentage | | 8.05% |
| Principal Collections | | $296,569,732.24 |
| Principal Payment Rate | | 11.55% |
|
| Total Payment Rate | | 12.43% |
|
| INITIAL INVESTED AMOUNTS | | |
| Class A Initial Invested Amount | | $322,000,000.00 |
| Class B Initial Invested Amount | | $28,000,000.00 |
| | |
|
| TOTAL INITIAL INVESTED AMOUNT | | $350,000,000.00 |
|
| INVESTED AMOUNTS, as of January 15, 2003 | | |
| Class A Invested Amount | | $0.00 |
| Class B Invested Amount | | $32,000,000.00 |
| | |
|
| TOTAL INVESTED AMOUNT | | $32,000,000.00 |
|
| ADJUSTED INVESTED AMOUNTS, as of January 15, 2003 | | |
| Class A Adjusted Invested Amount | | $0.00 |
| Class B Adjusted Invested Amount | | $16,000,000.00 |
| | |
|
| TOTAL ADJUSTED INVESTED AMOUNT | | $16,000,000.00 |
|
| FLOATING ALLOCATION PERCENTAGE | | 4.11% |
|
| PRINCIPAL ALLOCATION PERCENTAGE | | 15.58% |
|
| MONTHLY SERVICING FEE | | $40,000.00 |
|
| INVESTOR DEFAULT AMOUNT | | $708,460.61 |
|
CLASS A AVAILABLE FUNDS | | |
|
| CLASS A FLOATING ALLOCATION PERCENTAGE | | 69.70% |
|
| Class A Finance Charge Collections | | $1,321,220.11 |
| Other Amounts | | $0.00 |
|
| TOTAL CLASS A AVAILABLE FUNDS | | $1,321,220.11 |
|
| Class A Monthly Interest | | $0.00 |
| Class A Servicing Fee | | $0.00 |
| Class A Investor Default Amount | | $493,775.58 |
|
| TOTAL CLASS A EXCESS SPREAD | | $827,444.53 |
|
| REQUIRED AMOUNT | | $0.00 |
CLASS B AVAILABLE FUNDS | | |
|
| CLASS B FLOATING ALLOCATION PERCENTAGE | | 30.30% |
|
| Class B Finance Charge Collections | | $517,669.32 |
| Other Amounts | | $0.00 |
|
| TOTAL CLASS B AVAILABLE FUNDS | | $517,669.32 |
|
| Class B Monthly Interest | | $48,133.33 |
| Class B Servicing Fee | | $40,000.00 |
|
| TOTAL CLASS B EXCESS SPREAD | | $429,535.99 |
|
EXCESS SPREAD | | |
|
| TOTAL EXCESS SPREAD | | $1,256,980.52 |
|
| Excess Spread Applied to Required Amount | | $0.00 |
|
| Excess Spread Applied to Class A Investor Charge Offs | | $0.00 |
|
| Excess Spread Applied to Class B Interest, Servicing Fee, and Default Amount | | $214,685.03 |
|
| Excess Spread Applied to Class B Reductions of Class B Investe | | $0.00 |
|
| Excess Spread Applied to Monthly Cash Collateral Fee | | $0.00 |
|
| Excess Spread Applied to Cash Collateral Account | | $0.00 |
|
| Excess Spread Applied to Reserve Account | | $0.00 |
|
| Excess Spread Applied to other amounts owed to Cash Collateral Depositor | | $0.00 |
|
| TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR GROUP I | | $1,042,295.49 |
|
EXCESS FINANCE CHARGE COLLECTIONS — GROUP I | | |
|
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I | | $6,469,049.36 |
|
SERIES 1995-C EXCESS FINANCE CHARGE COLLECTIONS | | |
|
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO
SERIES 1995-C | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to Required Amount | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to Class A Investor Charge Offs | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to Class B Interest, Servicing Fee, and Default Items | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to Reductions of Class B Invested Amount | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to Monthly Cash Collateral Fee | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to Cash Collateral Account | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to Reserve Account | | $0.00 |
|
| | | |
Excess Finance Charge Collections applied to other amounts owed Cash Collateral Depositor | | $0.00 |
|
YIELD AND BASE RATE | | |
|
| Base Rate (Current Month) | | 3.81% |
| Base Rate (Prior Month) | | 3.65% |
| Base Rate (Two Months Ago) | | 4.07% |
| | |
|
| THREE MONTH AVERAGE BASE RATE | | 3.84% |
|
| Portfolio Yield (Current Month) | | 3.39% |
| Portfolio Yield (Prior Month) | | 6.80% |
| Portfolio Yield (Two Months Ago) | | 9.49% |
| | |
|
| THREE MONTH AVERAGE PORTFOLIO YIELD | | 6.56% |
PRINCIPAL COLLECTIONS | | |
|
| CLASS A PRINCIPAL PERCENTAGE | | 92.00% |
|
| Class A Principal Collections | | $42,505,596.47 |
|
| CLASS B PRINCIPAL PERCENTAGE | | 8.00% |
|
| Class B Principal Collections | | $3,696,138.82 |
|
| TOTAL PRINCIPAL COLLECTIONS | | $46,201,735.29 |
|
| INVESTOR DEFAULT AMOUNT | | $708,460.61 |
|
| REALLOCATED PRINCIPAL COLLECTIONS | | $0.00 |
|
SHARED PRINCIPAL COLLECTIONS ALLOCABLE
FROM OTHER SERIES | | $0.00 |
|
| CLASS A ACCUMULATION | | |
| Controlled Accumulation Amount | | $0.00 |
| Deficit Controlled Accumulation Amount | | $0.00 |
| CONTROLLED DISTRIBUTION AMOUNT | | $0.00 |
|
| CLASS B ACCUMULATION | | |
| Controlled Accumulation Amount | | $16,000,000.00 |
| Deficit Controlled Accumulation Amount | | $0.00 |
| CONTROLLED DISTRIBUTION AMOUNT | | $16,000,000.00 |
|
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR
PRINCIPAL SHARING | | $30,910,195.89 |
|
INVESTOR CHARGE OFFS | | |
|
| CLASS A INVESTOR CHARGE OFFS | | $0.00 |
| CLASS B INVESTOR CHARGE OFFS | | $0.00 |
|
| PREVIOUS CLASS A CHARGE OFFS REIMBURSED | | $0.00 |
| PREVIOUS CLASS B CHARGE OFFS REIMBURSED | | $0.00 |
|
CASH COLLATERAL ACCOUNT | | |
|
| Required Cash Collateral Amount | | $4,000,000.00 |
| Available Cash Collateral Amount | | $4,160,000.00 |
INTEREST RATE CAP PAYMENTS | | |
|
| Class A Interest Rate Cap Payments | | $0.00 |
| Class B Interest Rate Cap Payments | | $0.00 |
|
| TOTAL DRAW AMOUNT | | $0.00 |
| CASH COLLATERAL ACCOUNT SURPLUS | | $160,000.00 |
| Bank One, Delaware, National Association (Formerly First USA Bank, National Association) as Servicer |
|
| By: | | /s/ MICHAEL J. GRUBB
|
| | | Michael J. Grubb First Vice President |
