Exhibit 99.5
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1998-A
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Trust II)
RECEIVABLES | | |
| |
Beginning of the Month Principal Receivables: | | $2,415,507,111.34 |
Beginning of the Month Finance Charge Receivables: | | $109,816,710.51 |
Beginning of the Month Discounted Receivables: | | $0.00 |
Beginning of the Month Total Receivables: | | $2,525,323,821.85 |
| |
Removed Principal Receivables: | | $9,614,787.06 |
Removed Finance Charge Receivables: | | $190,193.47 |
Removed Total Receivables: | | $9,804,980.53 |
| |
Additional Principal Receivables: | | $0.00 |
Additional Finance Charge Receivables: | | $0.00 |
Additional Total Receivables: | | $0.00 |
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Discounted Receivables Generated this Period: | | $0.00 |
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End of the Month Principal Receivables: | | $2,383,218,229.38 |
End of the Month Finance Charge Receivables: | | $108,109,506.51 |
End of the Month Discounted Receivables: | | $0.00 |
End of the Month Total Receivables: | | $2,491,327,735.89 |
| |
Special Funding Account Balance | | $0.00 |
Aggregate Adjusted Invested Amount (all Master Trust II Series) | | $314,000,000.01 |
End of the Month Transferor Amount | | $2,069,218,229.37 |
End of the Month Transferor Percentage | | 86.82% |
| |
DELINQUENCIES AND LOSSES | | |
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End of the Month Delinquencies: | | |
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30-59 Days Delinquent | | $53,034,257.01 |
60-89 Days Delinquent | | $39,737,971.08 |
90+ Days Delinquent | | $85,333,676.59 |
| |
Total 30+ Days Delinquent | | $178,105,904.68 |
Delinquent Percentage | | 7.15% |
| |
Defaulted Accounts During the Month | | $15,067,373.43 |
Annualized Default Percentage | | 7.49% |
Principal Collections | | $285,133,819.15 |
Principal Payment Rate | | 11.80% |
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Total Payment Rate | | 12.62% |
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INVESTED AMOUNTS | | |
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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 |
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Class A Invested Amount | | $0.00 |
Class B Invested Amount | | $0.00 |
Class C Invested Amount | | $60,000,000.00 |
| | |
|
INVESTED AMOUNT | | $60,000,000.00 |
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Class A Adjusted Invested Amount | | $0.00 |
Class B Adjusted Invested Amount | | $0.00 |
Class C Adjusted Invested Amount | | $60,000,000.00 |
| | |
|
ADJUSTED INVESTED AMOUNT | | $60,000,000.00 |
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PREFUNDED AMOUNT | | $0.00 |
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FLOATING ALLOCATION PERCENTAGE | | 5.47% |
PRINCIPAL ALLOCATION PERCENTAGE | | 24.86% |
| |
Class A Principal Allocation Percentage | | 78.00% |
Class B Principal Allocation Percentage | | 12.00% |
Class C Principal Allocation Percentage | | 10.00% |
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COLLECTIONS OF PRINCIPAL RECEIVABLES DURING THE MONTHLY PERIOD ALLOCATED TO SERIES 1998-A | | $70,897,716.28 |
| |
COLLECTIONS OF FINANCE CHARGE RECEIVABLES DURING THE MONTHLY PERIOD ALLOCATED TO SERIES 1998-A | | $1,831,524.33 |
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MONTHLY SERVICING FEE | | $120,000.00 |
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INVESTOR DEFAULT AMOUNT | | $826,397.36 |
CLASS A AVAILABLE FUNDS | | |
| |
CLASS A FLOATING ALLOCATION PERCENTAGE | | 0.00% |
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Class A Finance Charge Collections | | $0.00 |
Other Amounts | | $0.00 |
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TOTAL CLASS A AVAILABLE FUNDS | | $0.00 |
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Class A Monthly Interest | | $0.00 |
Class A Servicing Fee | | $0.00 |
Class A Investor Default Amount | | $0.00 |
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TOTAL CLASS A EXCESS SPREAD | | $0.00 |
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CLASS A REQUIRED AMOUNT | | $0.00 |
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CLASS B AVAILABLE FUNDS | | |
| |
CLASS B FLOATING ALLOCATION PERCENTAGE | | 54.54% |
| |
Class B Finance Charge Collections | | $1,133,285.79 |
Other Amounts | | $0.00 |
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TOTAL CLASS B AVAILABLE FUNDS | | $1,133,285.79 |
| |
Class B Monthly Interest | | $91,640.00 |
Class B Servicing Fee | | $45,000.00 |
| |
TOTAL CLASS B EXCESS SPREAD | | $996,645.79 |
CLASS B INVESTOR DEFAULT AMOUNT | | $450,762.20 |
CLASS B REQUIRED AMOUNT | | $450,762.20 |
| |
CLASS C FLOATING ALLOCATION PERCENTAGE | | 45.45% |
| |
CLASS C MONTHLY SERVICING FEE | | $75,000.00 |
EXCESS SPREAD | | |
| |
TOTAL EXCESS SPREAD | | $1,827,867.28 |
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Excess Spread Applied to Class A Required Amount | | $0.00 |
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Excess Spread Applied to Class A Investor Charge Offs | | $0.00 |
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Excess Spread Applied to Class B Required Amount | | $450,762.20 |
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Excess Spread Applied to Reductions of Class B Invested Amount | | $0.00 |
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Excess Spread Applied to Class C Required Amount | | $481,001.83 |
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Excess Spread Applied to Reductions of Class C Invested Amount | | $0.00 |
| |
Excess Spread Applied to Monthly Cash Collateral Fee | | $20,000.00 |
| |
Excess Spread Applied to Cash Collateral Account | | $0.00 |
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Excess Spread Applied to Spread Account | | $0.00 |
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Excess Spread Applied to Reserve Account | | $25,754.40 |
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Excess Spread Applied to other amounts owed to Cash Collateral Depositor | | $0.00 |
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Excess Spread Applied to other amounts owed to Spread Account Residual Interest Holders | | $0.00 |
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TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR GROUP I | | $850,348.85 |
EXCESS FINANCE CHARGE COLLECTIONS — GROUP I | | |
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TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES IN GROUP I | | $2,477,694.54 |
| |
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 |
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Excess Finance Charge Collections applied to Class B Required Amount | | $0.00 |
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Excess Finance Charge Collections applied to Reductions of Class B Invested Amount | | $0.00 |
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Excess Finance Charge Collections applied to Class C Required Amount | | $0.00 |
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Excess Finance Charge Collections applied to Reductions of Class C Invested Amount | | $0.00 |
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Excess Finance Charge Collections applied to Monthly Cash Collateral Fee | | $0.00 |
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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 |
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YIELD AND BASE RATE | | |
| |
Base Rate (Current Month) | | 3.85% |
Base Rate (Prior Month) | | 3.98% |
Base Rate (Two Months Ago) | | 3.58% |
| | |
|
THREE MONTH AVERAGE BASE RATE | | 3.80% |
| |
Portfolio Yield (Current Month) | | 11.03% |
Portfolio Yield (Prior Month) | | 3.51% |
Portfolio Yield (Two Months Ago) | | 5.95% |
| | |
|
THREE MONTH AVERAGE PORTFOLIO YIELD | | 6.83% |
PRINCIPAL COLLECTIONS | | |
| |
TOTAL PRINCIPAL COLLECTIONS | | $70,897,716.28 |
| |
INVESTOR DEFAULT AMOUNT | | $826,397.36 |
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REALLOCATED PRINCIPAL COLLECTIONS | | |
Allocable to Class C Interests | | $0.00 |
Allocable to Class B Certificates | | $0.00 |
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SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER SERIES | | $0.00 |
| |
CLASS A SCHEDULED ACCUMULATION — | | |
Controlled Accumulation Amount | | $0.00 |
Deficit Controlled Accumulation Amount | | $0.00 |
CONTROLLED DEPOSIT AMOUNT | | $0.00 |
| |
CLASS B SCHEDULED ACCUMULATION — | | |
Controlled Accumulation Amount | | $36,000,000.00 |
Deficit Controlled Accumulation Amount | | $0.00 |
CONTROLLED DEPOSIT AMOUNT | | $36,000,000.00 |
| |
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR PRINCIPAL SHARING | | $35,724,113.64 |
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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 |
