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: | | $ | 2,383,218,229.38 | |
Beginning of the Month Finance Charge Receivables: | | $ | 108,109,506.51 | |
Beginning of the Month Discounted Receivables: | | $ | 0.00 | |
Beginning of the Month Total Receivables: | | $ | 2,491,327,735.89 | |
| |
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: | | $ | 2,357,181,494.88 | |
End of the Month Finance Charge Receivables: | | $ | 105,282,988.16 | |
End of the Month Discounted Receivables: | | $ | 0.00 | |
End of the Month Total Receivables: | | $ | 2,462,464,483.04 | |
| |
Special Funding Account Balance | | $ | 0.00 | |
Aggregate Adjusted Invested Amount (all Master Trust II Series) | | $ | 250,666,666.68 | |
End of the Month Transferor Amount | | $ | 2,106,514,828.20 | |
End of the Month Transferor Percentage | | | 89.37 | % |
DELINQUENCIES AND LOSSES | | | | |
| |
End of the Month Delinquencies: | | | | |
| |
30-59 Days Delinquent | | $ | 50,505,287.55 | |
60-89 Days Delinquent | | $ | 38,165,438.72 | |
90+ Days Delinquent | | $ | 83,818,088.07 | |
Total 30+ Days Delinquent | | $ | 172,488,814.34 | |
Delinquent Percentage | | | 7.00 | % |
| |
Defaulted Accounts During the Month | | $ | 16,214,782.73 | |
Annualized Default Percentage | | | 8.16 | % |
Principal Collections | | $ | 292,418,689.53 | |
Principal Payment Rate | | | 12.27 | % |
Total Payment Rate | | | 13.08 | % |
| |
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 | | $ | 0.00 | |
Class C Invested Amount | | $ | 60,000,000.00 | |
| | |
|
|
|
| |
INVESTED AMOUNT | | $ | 60,000,000.00 | |
| |
Class A Adjusted Invested Amount | | $ | 0.00 | |
Class B Adjusted Invested Amount | | $ | 0.00 | |
Class C Adjusted Invested Amount | | $ | 30,000,000.00 | |
| | |
|
|
|
ADJUSTED INVESTED AMOUNT | | $ | 30,000,000.00 | |
| |
PREFUNDED AMOUNT | | $ | 0.00 | |
| |
FLOATING ALLOCATION PERCENTAGE | | | 4.03 | % |
PRINCIPAL ALLOCATION PERCENTAGE | | | 25.18 | % |
| |
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 | | $ | 73,619,449.40 | |
| |
COLLECTIONS OF FINANCE CHARGE RECEIVABLES DURING THE MONTHLY PERIOD ALLOCATED TO SERIES 1998-A | | $ | 1,346,503.94 | |
| |
MONTHLY SERVICING FEE | | $ | 75,000.00 | |
| |
INVESTOR DEFAULT AMOUNT | | $ | 653,158.46 | |
CLASS A AVAILABLE FUNDS | | |
| |
CLASS A FLOATING ALLOCATION PERCENTAGE | | 0.00% |
| |
Class A Finance Charge Collections | | $0.00 |
Other Amounts | | $0.00 |
| |
TOTAL CLASS A AVAILABLE FUNDS | | $0.00 |
| |
Class A Monthly Interest | | $0.00 |
Class A Servicing Fee | | $0.00 |
Class A Investor Default Amount | | $0.00 |
| |
TOTAL CLASS A EXCESS SPREAD | | $0.00 |
| |
CLASS A REQUIRED AMOUNT | | $0.00 |
| |
CLASS B AVAILABLE FUNDS | | |
| |
CLASS B FLOATING ALLOCATION PERCENTAGE | | 37.50% |
| |
Class B Finance Charge Collections | | $545,584.14 |
Other Amounts | | $0.00 |
| |
TOTAL CLASS B AVAILABLE FUNDS | | $545,584.14 |
| |
Class B Monthly Interest | | $0.00 |
Class B Servicing Fee | | $0.00 |
| |
TOTAL CLASS B EXCESS SPREAD | | $545,584.14 |
| |
CLASS B INVESTOR DEFAULT AMOUNT | | $244,934.43 |
| |
CLASS B REQUIRED AMOUNT | | $244,934.43 |
| |
CLASS C FLOATING ALLOCATION PERCENTAGE | | 62.50% |
| |
CLASS C MONTHLY SERVICING FEE | | $75,000.00 |
EXCESS SPREAD | | |
| |
TOTAL EXCESS SPREAD | | $1,387,149.10 |
| |
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 | | $244,934.43 |
| |
Excess Spread Applied to Reductions of Class B Invested Amount | | $0.00 |
| |
Excess Spread Applied to Class C Required Amount | | $517,079.51 |
| |
Excess Spread Applied to Reductions of Class C Invested Amount | | $0.00 |
| |
Excess Spread Applied to Monthly Cash Collateral Fee | | $12,500.00 |
| |
Excess Spread Applied to Cash Collateral Account | | $0.00 |
| |
Excess Spread Applied to Spread Account | | $0.00 |
| |
Excess Spread Applied to Reserve Account | | $0.00 |
| |
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 | | $612,635.16 |
4
| |
EXCESS FINANCE CHARGE COLLECTIONS—GROUP I | | |
| |
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES IN GROUP I | | $1,990,512.47 |
| |
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) | | 4.11% |
Base Rate (Prior Month) | | 3.85% |
Base Rate (Two Months Ago) | | 3.98% |
| | |
|
| |
THREE MONTH AVERAGE BASE RATE | | 3.98% |
| |
Portfolio Yield (Current Month) | | 7.35% |
Portfolio Yield (Prior Month) | | 11.03% |
Portfolio Yield (Two Months Ago) | | 3.51% |
| | |
|
| |
THREE MONTH AVERAGE PORTFOLIO YIELD | | 7.30% |
PRINCIPAL COLLECTIONS | | | |
| |
TOTAL PRINCIPAL COLLECTIONS | | $ | 73,619,449.40 |
| |
INVESTOR DEFAULT AMOUNT | | $ | 653,158.46 |
| |
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 | | $ | 0.00 |
Deficit Controlled Accumulation Amount | | $ | 0.00 |
CONTROLLED DEPOSIT AMOUNT | | $ | 0.00 |
| |
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 | | $ | 44,272,607.85 |
| |
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/ JEFFREY T. RIGG
|
| | | Jeffrey T. Rigg Senior Vice President |
