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 | | | | |
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Beginning of the Month Principal Receivables: | | $ | 2,357,181,494.88 | |
Beginning of the Month Finance Charge Receivables: | | $ | 105,282,988.16 | |
Beginning of the Month Discounted Receivables: | | $ | 0.00 | |
Beginning of the Month Total Receivables: | | $ | 2,462,464,483.04 | |
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Removed Principal Receivables: | | $ | 118,441.62 | |
Removed Finance Charge Receivables: | | $ | 2,332.83 | |
Removed Total Receivables: | | $ | 120,774.45 | |
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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: | | $ | 2,316,944,372.04 | |
End of the Month Finance Charge Receivables: | | $ | 102,272,943.02 | |
End of the Month Discounted Receivables: | | $ | 0.00 | |
End of the Month Total Receivables: | | $ | 2,419,217,315.06 | |
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Special Funding Account Balance | | $ | 0.00 | |
Aggregate Adjusted Invested Amount (all Master Trust II Series) | | $ | 193,333,333.35 | |
End of the Month Transferor Amount | | $ | 2,123,611,038.69 | |
End of the Month Transferor Percentage | | | 91.66 | % |
DELINQUENCIES AND LOSSES | | | | |
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End of the Month Delinquencies: | | | | |
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30-59 Days Delinquent | | $ | 49,008,020.64 | |
60-89 Days Delinquent | | $ | 37,504,088.96 | |
90+ Days Delinquent | | $ | 83,368,978.52 | |
Total 30+ Days Delinquent | | $ | 169,881,088.12 | |
Delinquent Percentage | | | 7.02 | % |
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Defaulted Accounts During the Month | | $ | 15,569,172.96 | |
Annualized Default Percentage | | | 7.95 | % |
Principal Collections | | $ | 303,000,546.16 | |
Principal Payment Rate | | | 12.85 | % |
Total Payment Rate | | | 13.67 | % |
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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 | |
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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 | | $ | 0.00 | |
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INVESTED AMOUNT | | $ | 0.00 | |
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Class A Adjusted Invested Amount | | $ | 0.00 | |
Class B Adjusted Invested Amount | | $ | 0.00 | |
Class C Adjusted Invested Amount | | $ | 0.00 | |
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ADJUSTED INVESTED AMOUNT | | $ | 0.00 | |
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PREFUNDED AMOUNT | | $ | 0.00 | |
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FLOATING ALLOCATION PERCENTAGE | | | 2.55 | % |
PRINCIPAL ALLOCATION PERCENTAGE | | | 25.52 | % |
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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 | | $ | 77,341,777.81 | |
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COLLECTIONS OF FINANCE CHARGE RECEIVABLES DURING THE MONTHLY PERIOD ALLOCATED TO SERIES 1998-A | | $ | 853,557.80 | |
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MONTHLY SERVICING FEE | | $ | 37,500.00 | |
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INVESTOR DEFAULT AMOUNT | | $ | 397,915.28 | |
CLASS A AVAILABLE FUNDS | | | |
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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 | | | |
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CLASS B FLOATING ALLOCATION PERCENTAGE | | 0.00 | % |
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Class B Finance Charge Collections | | $0.00 | |
Other Amounts | | $0.00 | |
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TOTAL CLASS B AVAILABLE FUNDS | | $0.00 | |
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Class B Monthly Interest | | $0.00 | |
Class B Servicing Fee | | $0.00 | |
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TOTAL CLASS B EXCESS SPREAD | | $0.00 | |
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CLASS B INVESTOR DEFAULT AMOUNT | | $0.00 | |
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CLASS B REQUIRED AMOUNT | | $0.00 | |
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CLASS C FLOATING ALLOCATION PERCENTAGE | | 100.00 | % |
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CLASS C MONTHLY SERVICING FEE | | $37,500.00 | |
EXCESS SPREAD | | |
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TOTAL EXCESS SPREAD | | $945,566.14 |
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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 | | $0.00 |
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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 | | $506,931.95 |
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Excess Spread Applied to Reductions of Class C Invested Amount | | $0.00 |
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Excess Spread Applied to Monthly Cash Collateral Fee | | $6,250.00 |
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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 | | $40,083.85 |
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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 | | $392,300.34 |
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EXCESS FINANCE CHARGE COLLECTIONS—GROUP I | | | | |
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TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES IN GROUP I | | $ | 1,704,023.70 | |
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SERIES 1998-A EXCESS FINANCE CHARGE COLLECTIONS | | | | |
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EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 1998-A | | $ | 0.00 | |
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Excess Finance Charge Collections applied to Class A Required Amount | | $ | 0.00 | |
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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 | |
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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 | | | | |
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Base Rate (Current Month) | | | 4.11 | % |
Base Rate (Prior Month) | | | 4.11 | % |
Base Rate (Two Months Ago) | | | 3.85 | % |
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THREE MONTH AVERAGE BASE RATE | | | 4.02 | % |
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Portfolio Yield (Current Month) | | | 11.70 | % |
Portfolio Yield (Prior Month) | | | 7.35 | % |
Portfolio Yield (Two Months Ago) | | | 11.03 | % |
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THREE MONTH AVERAGE PORTFOLIO YIELD | | | 10.03 | % |
PRINCIPAL COLLECTIONS | | |
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TOTAL PRINCIPAL COLLECTIONS | | $77,341,777.81 |
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INVESTOR DEFAULT AMOUNT | | $397,915.28 |
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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 |
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CLASS A SCHEDULED ACCUMULATION — | | |
Controlled Accumulation Amount | | $0.00 |
Deficit Controlled Accumulation Amount | | $0.00 |
CONTROLLED DEPOSIT AMOUNT | | $0.00 |
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CLASS B SCHEDULED ACCUMULATION — | | |
Controlled Accumulation Amount | | $0.00 |
Deficit Controlled Accumulation Amount | | $0.00 |
CONTROLLED DEPOSIT AMOUNT | | $0.00 |
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EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR | | |
PRINCIPAL SHARING | | $47,739,693.09 |
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INVESTOR CHARGE OFFS | | |
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CLASS A INVESTOR CHARGE OFFS | | $0.00 |
CLASS B INVESTOR CHARGE OFFS | | $0.00 |
CLASS C INVESTOR CHARGE OFFS | | $0.00 |
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PREVIOUS CLASS A CHARGE OFFS REIMBURSED | | $0.00 |
PREVIOUS CLASS B REDUCTIONS REIMBURSED | | $0.00 |
PREVIOUS CLASS C REDUCTIONS REIMBURSED | | $0.00 |
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CASH COLLATERAL ACCOUNT | | |
Required Cash Collateral Amount | | $0.00 |
Available Cash Collateral Amount | | $6,000,000.00 |
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TOTAL DRAW AMOUNT | | $0.00 |
CASH COLLATERAL ACCOUNT SURPLUS | | $6,000,000.00 |
Bank One, Delaware, National Association (Formerly First USA Bank, National Association) as Servicer
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By: | | /s/ JEFFREY T. RIGG
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| | | Jeffrey T. Rigg Senior Vice President |
