Bank One De Na As Serv On Behalf Part Credit Card Mas TR Inactive
Filed: 15 May 03, 12:00am
Exhibit 20.2
PARTNERS FIRST CREDIT CARD MASTER TRUST
MONTHLY TRUST ACTIVITY
A. Trust Level Activity | ||
Number of Days in Monthly Period | 30 | |
Beginning Principal Receivables Balance | 1,283,827,751.21 | |
Beginning Special Funding Account Balance | 0.00 | |
Beginning Principal Receivables + SFA Balance | 1,283,827,751.21 | |
Beginning Finance Charge Receivables | 35,281,901.63 | |
Beginning Total Receivables | 1,319,109,652.84 | |
Special Funding Account Earnings | 0.00 | |
Finance Charge Collections | 15,408,233.84 | |
Interest/Fee Reversals (Wachovia accounts only) | 0.00 | |
Interchange Collections | 3,074,809.32 | |
Collection Account Investment Proceeds | 0.00 | |
Recoveries treated as Finance Charge Collections | 0.00 | |
Total Finance Charge Receivables Collections | 18,483,043.16 | |
Principal Receivables Collections | 108,712,677.16 | |
Recoveries treated as Principal Collections | 820,198.15 | |
Total Principal Receivables Collections | 109,532,875.31 | |
Monthly Payment Rate (Principal plus Interest divided by Beg. Total Receivables) | 9.41% | |
Defaulted Amount (Net of Recoveries) | 8,790,796.31 | |
Annualized Default Rate | 8.22% | |
Trust Gross Yield | 17.28% | |
Aggregate Account Addition or Removal (Y/N)? | N | |
Date of Addition/Removal | N/A | |
Principal Receivables at the end of the day of Addition/Removal | N/A | |
SFA Balance at the end of the day of Addition/Removal | N/A | |
Principal Receivables + SFA Balance at the end of the day of Addition/Removal | N/A | |
Ending Principal Receivables Balance | 1,267,006,186.55 | |
Ending Special Funding Account (SFA) Balance | 0.00 | |
Ending Principal Receivables + SFA Balance | 1,267,006,186.55 | |
Ending Finance Charge Receivables | 34,826,668.81 | |
Ending Total Receivables | 1,301,832,855.36 | |
Required Minimum Principal Balance (as of month end) | 187,271,942.68 |
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PARTNERS FIRST CREDIT CARD MASTER TRUST
MONTHLY TRUST ACTIVITY
B. | Series Allocations | |||||||||
Total | 1998-3 | |||||||||
Group | 1 | |||||||||
Class A Initial Invested Amount | 528,000,000.00 | 528,000,000.00 | ||||||||
Class B Initial Invested Amount | 113,000,000.00 | 113,000,000.00 | ||||||||
Collateral Initial Invested Amount | 67,000,000.00 | 67,000,000.00 | ||||||||
Class D Initial Invested Amount | 42,000,000.00 | 42,000,000.00 | ||||||||
Total Initial Invested Amount | 750,000,000.00 | 750,000,000.00 | ||||||||
Required Transferor Amount (per definition) | 47,495,000.00 | 47,495,000.00 | ||||||||
Initial Invested Amount + Req Transf Amount | 797,495,000.00 | 797,495,000.00 | ||||||||
Series Allocation Percentage | 100.00% | 100.00% | ||||||||
Series Allocable Finance Charge Collections | 18,483,043.16 | 18,483,043.16 | ||||||||
Series Allocable Principal Collections | 109,532,875.31 | 109,532,875.31 | ||||||||
Series Allocable Defaulted Amounts | 8,790,796.31 | 8,790,796.31 | ||||||||
Series Allocable Servicing Fee | 192,953.24 | 192,953.24 | ||||||||
In Revolving Period? | N | |||||||||
Available for Principal Sharing Series | 2,902,978.52 | 2,902,978.52 | ||||||||
Principal Shortfall | 0.00 | 0.00 | ||||||||
Allocation of Shared Principal Collections | 0.00 | 0.00 | ||||||||
Available for Excess Allocation Series | 951,023.90 | 951,023.90 | ||||||||
Finance Charge Shortfall | 0.00 | 0.00 | ||||||||
Allocation of Excess Finance Charge Collections | 0.00 | 0.00 | ||||||||
B. | Series Allocations Amounts Due | 1998-3 | ||||||||
Transferor’s Percentage | 85.55% | |||||||||
Principal Allocation Percentage | 58.42% | |||||||||
Principal Collections | 63,988,067.25 | |||||||||
Floating Allocation Percentage | 14.45% | |||||||||
Class A Certificate Rate | 1.44000% | |||||||||
Class B Certificate Rate | 1.67000% | |||||||||
CIA Certificate Rate | 2.28500% | |||||||||
CIA Secured Loan Spread Rate | 2.03500% | |||||||||
Class D Certificate Rate | 0.00000% | |||||||||
Class A Interest | 633,600.00 | |||||||||
Class B Interest | 157,258.33 | |||||||||
Collateral Monthly Interest | 0.00 | |||||||||
Class D Interest | 0.00 | |||||||||
Investor Monthly Interest | 790,858.33 | |||||||||
Investor Default Amount (Net of Recoveries) | 1,270,187.32 | |||||||||
Interchange Collections | 444,281.00 | |||||||||
0.75% of Interchange | 72,357.46 | |||||||||
Servicer Interchange | 72,357.46 | |||||||||
Monthly Servicing Fee (Before Adjustments) | 192,953.24 | |||||||||
Interchange Adjustment | 0.00 | |||||||||
SFA Adjustment | 0.00 | |||||||||
Previous Period Adjustment | 0.00 | |||||||||
Total Monthly Servicing Fee (After all adjustments) | 192,953.24 | |||||||||
C. | Calculation of Redirected Investor Finance Charge Collections (“Socialism”) | |||||||||
Group I | 1998-3 | |||||||||
Beginning Invested Amount (Month) | 678,500,000.00 | 678,500,000.00 | ||||||||
Finance Charge Collections | 2,670,625.76 | 2,670,625.76 | ||||||||
Reserve Account Interest | 3,074.00 | 3,074.00 | ||||||||
PFA Proceeds | 531,323.03 | 531,323.03 | ||||||||
Total Finance Charge Collections | 3,205,022.79 | 3,205,022.79 | ||||||||
Investor Monthly Interest | 790,858.33 | 790,858.33 | ||||||||
Investor Default Amount | 1,270,187.32 | 1,270,187.32 | ||||||||
Monthly Servicing Fee | 192,953.24 | 192,953.24 | ||||||||
Additional Amounts | 0.00 | 0.00 | ||||||||
Total Amount Due | 2,253,998.89 | 2,253,998.89 | ||||||||
Group Excess? | Y | |||||||||
Amount per 4.10(A) Amount per 4.10(B) Amount per 4.10(C) Amount per 4.10(D) | } | used in a shortfall scenario only | 790,858.33 1,270,187.32 192,953.24 0.00 | |||||||
Redirected Finance Charge Collections | 3,205,022.79 | 3,205,022.79 | ||||||||
Amount of funds redistributed per 4.10 | 0.00 | |||||||||
Redirected Finance Charge Collections—PFA Proceeds (Class A available funds) | 2,673,699.76 | |||||||||
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PARTNERS FIRST CREDIT CARD MASTER TRUST
MONTHLY TRUST ACTIVITY
D. | Trust Performance | ||||||||
30-59 Days Delinquent | 20,848,418.63 | 1.65 | % | ||||||
60-89 Days Delinquent | 14,974,905.78 | 1.18 | % | ||||||
90+ Days Delinquent | 31,078,606.74 | 2.45 | % | ||||||
Total 30+ Days Delinquent | 66,901,931.15 | 5.28 | % |
BANK ONE, DELAWARE, NATIONAL ASSOCIATION (FORMERLY FIRST USA BANK, N.A.) AS SERVICER | ||
By: | /s/ MICHAEL J. GRUBB | |
Name: Michael J. Grubb | ||
Title: First Vice President | ||
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