Bank One De Na As Serv On Behalf Part Credit Card Mas TR Inactive
Filed: 15 Apr 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 | 31 | |||
Beginning Principal Receivables Balance | 1,309,591,227.30 | |||
Beginning Special Funding Account Balance | 0.00 | |||
Beginning Principal Receivables + SFA Balance | 1,309,591,227.30 | |||
Beginning Finance Charge Receivables | 38,079,926.42 | |||
Beginning Total Receivables | 1,347,671,153.72 | |||
Special Funding Account Earnings | 0.00 | |||
Finance Charge Collections | 17,348,212.52 | |||
Interest/Fee Reversals (Wachovia accounts only) | 0.00 | |||
Interchange Collections | 3,035,811.88 | |||
Collection Account Investment Proceeds | 0.00 | |||
Recoveries treated as Finance Charge Collections | 0.00 | |||
Total Finance Charge Receivables Collections | 20,384,024.40 | |||
Principal Receivables Collections | 117,696,825.50 | |||
Recoveries treated as Principal Collections | 939,124.15 | |||
Total Principal Receivables Collections | 118,635,949.65 | |||
Monthly Payment Rate (Principal plus Interest divided by Beg. Total Receivables) | 10.02% | |||
Defaulted Amount (Net of Recoveries) | 9,495,348.92 | |||
Annualized Default Rate | 8.70% | |||
Trust Gross Yield | 18.68% | |||
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 | 1,283,827,751.21 | |||
Ending Special Funding Account (SFA) Balance | 0.00 | |||
Ending Principal Receivables + SFA Balance | 1,283,827,751.21 | |||
Ending Finance Charge Receivables | 35,281,901.63 | |||
Ending Total Receivables | 1,319,109,652.84 | |||
Required Minimum Principal Balance (as of month end) | 257,001,025.60 |
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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 | 20,384,024.40 | 20,384,024.40 | ||||||||
Series Allocable Principal Collections | 118,635,949.65 | 118,635,949.65 | ||||||||
Series Allocable Defaulted Amounts | 9,495,348.92 | 9,495,348.92 | ||||||||
Series Allocable Servicing Fee | 309,168.38 | 309,168.38 | ||||||||
In Revolving Period? | N | |||||||||
Available for Principal Sharing Series | 0.00 | 0.00 | ||||||||
Principal Shortfall | 0.00 | 0.00 | ||||||||
Allocation of Shared Principal Collections | 0.00 | 0.00 | ||||||||
Available for Excess Allocation Series | 1,490,308.47 | 1,490,308.47 | ||||||||
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 | 81.19% | |||||||||
Principal Allocation Percentage | 57.27% | |||||||||
Principal Collections | 67,942,546.03 | |||||||||
Floating Allocation Percentage | 18.81% | |||||||||
Class A Certificate Rate | 1.41000% | |||||||||
Class B Certificate Rate | 1.64000% | |||||||||
CIA Certificate Rate | 2.25500% | |||||||||
CIA Secured Loan Spread Rate | 2.00500% | |||||||||
Class D Certificate Rate | 0.00000% | |||||||||
Class A Interest | 599,720.00 | |||||||||
Class B Interest | 149,285.56 | |||||||||
Collateral Monthly Interest | 0.00 | |||||||||
Class D Interest | 0.00 | |||||||||
Investor Monthly Interest | 749,005.56 | |||||||||
Investor Default Amount (Net of Recoveries) | 1,786,536.89 | |||||||||
Interchange Collections | 571,183.85 | |||||||||
0.75% of Interchange | 115,938.14 | |||||||||
Servicer Interchange | 115,938.14 | |||||||||
Monthly Servicing Fee (Before Adjustments) | 309,168.38 | |||||||||
Interchange Adjustment | 0.00 | |||||||||
SFA Adjustment | 0.00 | |||||||||
Previous Period Adjustment | 0.00 | |||||||||
Total Monthly Servicing Fee (After all adjustments) | 309,168.38 | |||||||||
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 | 3,835,226.26 | 3,835,226.26 | ||||||||
Reserve Account Interest | 3,121.00 | 3,121.00 | ||||||||
PFA Proceeds | 496,672.04 | 496,672.04 | ||||||||
Total Finance Charge Collections | 4,335,019.30 | 4,335,019.30 | ||||||||
Investor Monthly Interest | 749,005.56 | 749,005.56 | ||||||||
Investor Default Amount | 1,786,536.89 | 1,786,536.89 | ||||||||
Monthly Servicing Fee | 309,168.38 | 309,168.38 | ||||||||
Additional Amounts | 0.00 | 0.00 | ||||||||
Total Amount Due | 2,844,710.83 | 2,844,710.83 | ||||||||
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 | 749,005.56 1,786,536.89 309,168.38 0.00 | |||||||
Redirected Finance Charge Collections | 4,335,019.30 | 4,335,019.30 | ||||||||
Amount of funds redistributed per 4.10 | 0.00 | |||||||||
Redirected Finance Charge Collections—PFA Proceeds (Class A available funds) | 3,838,347.26 | |||||||||
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PARTNERS FIRST CREDIT CARD MASTER TRUST
MONTHLY TRUST ACTIVITY
D. Trust Performance | |||||||||||||
30-59 Days Delinquent | 22,203,498.08 | 1.73 | % | ||||||||||
60-89 Days Delinquent | 15,600,550.01 | 1.22 | % | ||||||||||
90+ Days Delinquent | 31,529,987.92 | 2.45 | % | ||||||||||
Total 30+ Days Delinquent | 69,334,036.01 | 5.40 | % |
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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