Exhibit 99.5
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1998-A
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
RECEIVABLES | | |
Beginning of the Month Principal Receivables: | | $2,482,074,747.12 |
Beginning of the Month Finance Charge Receivables: | | $116,139,003.69 |
Beginning of the Month Discounted Receivables: | | $0.00 |
Beginning of the Month Total Receivables: | | $2,598,213,750.81 |
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: | | $2,463,437,276.03 |
End of the Month Finance Charge Receivables: | | $113,740,348.44 |
End of the Month Discounted Receivables: | | $0.00 |
End of the Month Total Receivables: | | $2,577,177,624.47 |
Special Funding Account Balance | | $0.00 |
Aggregate Adjusted Invested Amount (all Master Trust II Series) | | $463,166,666.67 |
End of the Month Transferor Amount | | $2,000,270,609.36 |
End of the Month Transferor Percentage | | 81.20% |
DELINQUENCIES AND LOSSES | | |
End of the Month Delinquencies: | | |
30-59 Days Delinquent | | $56,006,893.42 |
60-89 Days Delinquent | | $41,292,394.42 |
90+ Days Delinquent | | $89,869,572.37 |
Total 30+ Days Delinquent | | $187,168,860.21 |
Delinquent Percentage | | 7.26% |
Defaulted Accounts During the Month | | $16,034,063.78 |
Annualized Default Percentage | | 7.75% |
Principal Collections | | $276,858,884.98 |
Principal Payment Rate | | 11.15% |
Total Payment Rate | | 11.95% |
INVESTED AMOUNTS | | |
Class A Initial Invested Amount | | $370,500,000.00 |
Class B Initial Invested Amount | | $57,000,000.00 |
Class C Initial Invested Amount | | $47,500,000.00 |
| | |
|
INITIAL INVESTED AMOUNT | | $475,000,000.00 |
Class A Invested Amount | | $0.00 |
Class B Invested Amount | | $72,000,000.00 |
Class C Invested Amount | | $60,000,000.00 |
| | |
|
INVESTED AMOUNT | | $132,000,000.00 |
Class A Adjusted Invested Amount | | $0.00 |
Class B Adjusted Invested Amount | | $72,000,000.00 |
Class C Adjusted Invested Amount | | $60,000,000.00 |
| | |
|
ADJUSTED INVESTED AMOUNT | | $132,000,000.00 |
PREFUNDED AMOUNT | | $0.00 |
FLOATING ALLOCATION PERCENTAGE | | 10.03% |
PRINCIPAL ALLOCATION PERCENTAGE | | 24.17% |
Class A Principal Allocation Percentage | | 78.00% |
Class B Principal Allocation Percentage | | 12.00% |
Class C Principal Allocation Percentage | | 10.00% |
COLLECTIONS OF PRINCIPAL RECEIVABLES DURING THE MONTHLY PERIOD ALLOCATED TO SERIES 1998-A | | $66,925,998.62 |
COLLECTIONS OF FINANCE CHARGE RECEIVABLES DURING THE MONTHLY PERIOD ALLOCATED TO SERIES 1998-A | | $3,335,216.28 |
MONTHLY SERVICING FEE | | $238,125.00 |
INVESTOR DEFAULT AMOUNT | | $1,608,526.05 |
CLASS A AVAILABLE FUNDS | | |
CLASS A FLOATING ALLOCATION PERCENTAGE | | 46.99% |
Class A Finance Charge Collections | | $2,650,374.82 |
Other Amounts | | $0.00 |
TOTAL CLASS A AVAILABLE FUNDS | | $2,650,374.82 |
Class A Monthly Interest | | $569,400.00 |
Class A Servicing Fee | | $73,125.00 |
Class A Investor Default Amount | | $755,813.45 |
TOTAL CLASS A EXCESS SPREAD | | $1,252,036.37 |
CLASS A REQUIRED AMOUNT | | $0.00 |
CLASS B AVAILABLE FUNDS | | |
CLASS B FLOATING ALLOCATION PERCENTAGE | | 28.91% |
Class B Finance Charge Collections | | $1,054,399.89 |
Other Amounts | | $0.00 |
TOTAL CLASS B AVAILABLE FUNDS | | $1,054,399.89 |
Class B Monthly Interest | | $102,600.00 |
Class B Servicing Fee | | $90,000.00 |
TOTAL CLASS B EXCESS SPREAD | | $861,799.89 |
CLASS B INVESTOR DEFAULT AMOUNT | | $465,115.97 |
CLASS B REQUIRED AMOUNT | | $465,115.97 |
CLASS C FLOATING ALLOCATION PERCENTAGE | | 24.10% |
CLASS C MONTHLY SERVICING FEE | | $75,000.00 |
EXCESS SPREAD | | |
TOTAL EXCESS SPREAD | | $2,917,502.83 |
Excess Spread Applied to Class A Required Amount | | $0.00 |
Excess Spread Applied to Class A Investor Charge Offs | | $0.00 |
Excess Spread Applied to Class B Required Amount | | $465,115.97 |
Excess Spread Applied to Reductions of Class B Invested Amount | | $0.00 |
Excess Spread Applied to Class C Required Amount | | $503,096.63 |
Excess Spread Applied to Reductions of Class C Invested Amount | | $0.00 |
Excess Spread Applied to Monthly Cash Collateral Fee | | $39,687.50 |
Excess Spread Applied to Cash Collateral Account | | $0.00 |
Excess Spread Applied to Spread Account | | $150,000.00 |
Excess Spread Applied to Reserve Account | | $114,958.88 |
Excess Spread Applied to other amounts owed to Cash Collateral Depositor | | $0.00 |
Excess Spread Applied to other amounts owed to Spread Account Residual Interest Holders | | $0.00 |
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR GROUP I | | $1,644,643.85 |
EXCESS FINANCE CHARGE COLLECTIONS — GROUP I | | |
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES IN GROUP I | | $3,325,311.91 |
SERIES 1998-A EXCESS FINANCE CHARGE COLLECTIONS | | |
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 1998-A | | $0.00 |
Excess Finance Charge Collections applied to Class A 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 Required Amount | | $0.00 |
Excess Finance Charge Collections applied to Reductions of Class B Invested Amount | | $0.00 |
Excess Finance Charge Collections applied to Class C Required Amount | | $0.00 |
Excess Finance Charge Collections applied to Reductions of Class C Invested Amount | | $0.00 |
Excess Finance Charge Collections applied to Monthly Cash Collateral Fee | | $0.00 |
Excess Finance Charge Collections applied to other amounts owed Cash Collateral Depositor | | $0.00 |
Excess Finance Charge Collections applied to other amounts owed to Spread Account Residual Interest Holders | | $0.00 |
YIELD AND BASE RATE | | |
Base Rate (Current Month) | | 3.58% |
Base Rate (Prior Month) | | 3.55% |
Base Rate (Two Months Ago) | | 3.61% |
| | |
|
THREE MONTH AVERAGE BASE RATE | | 3.58% |
Portfolio Yield (Current Month) | | 5.95% |
Portfolio Yield (Prior Month) | | 7.49% |
Portfolio Yield (Two Months Ago) | | 6.38% |
| | |
|
THREE MONTH AVERAGE PORTFOLIO YIELD | | 6.61% |
PRINCIPAL COLLECTIONS | | |
TOTAL PRINCIPAL COLLECTIONS | | $66,925,998.62 |
INVESTOR DEFAULT AMOUNT | | $1,608,526.05 |
REALLOCATED PRINCIPAL COLLECTIONS | | |
Allocable to Class C Interests | | $0.00 |
Allocable to Class B Certificates | | $0.00 |
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER SERIES | | $0.00 |
CLASS A SCHEDULED ACCUMULATION— | | |
Controlled Accumulation Amount | | $58,500,000.00 |
Deficit Controlled Accumulation Amount | | $0.00 |
CONTROLLED DEPOSIT AMOUNT | | $58,500,000.00 |
CLASS B SCHEDULED ACCUMULATION— | | |
Controlled Accumulation Amount | | $0.00 |
Deficit Controlled Accumulation Amount | | $0.00 |
CONTROLLED DEPOSIT AMOUNT | | $0.00 |
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR PRINCIPAL SHARING | | $10,034,524.67 |
INVESTOR CHARGE OFFS | | |
CLASS A INVESTOR CHARGE OFFS | | $0.00 |
CLASS B INVESTOR CHARGE OFFS | | $0.00 |
CLASS C INVESTOR CHARGE OFFS | | $0.00 |
PREVIOUS CLASS A CHARGE OFFS REIMBURSED | | $0.00 |
PREVIOUS CLASS B REDUCTIONS REIMBURSED | | $0.00 |
PREVIOUS CLASS C REDUCTIONS REIMBURSED | | $0.00 |
CASH COLLATERAL ACCOUNT | | |
Required Cash Collateral Amount | | $6,000,000.00 |
Available Cash Collateral Amount | | $6,000,000.00 |
TOTAL DRAW AMOUNT | | $0.00 |
CASH COLLATERAL ACCOUNT SURPLUS | | $0.00 |
Bank One, Delaware, National Association (Formerly First USA Bank, National Association) as Servicer |
|
By: | | /s/ MICHAEL J. GRUBB
|
| | | Michael J. Grubb First Vice President |
