Bank One De Na As Serv On Behalf Part Credit Card Mas TR Inactive
Filed: 18 Feb 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 | 1,357,768,793.01 | |||
Beginning Special Funding Account Balance | 0.00 | |||
Beginning Principal Receivables + SFA Balance | 1,357,768,793.01 | |||
Beginning Finance Charge Receivables | 37,010,250.12 | |||
Beginning Total Receivables | 1,394,779,043.13 | |||
Special Funding Account Earnings | 0.00 | |||
Finance Charge Collections | 15,920,564.71 | |||
Interest/Fee Reversals (Wachovia accounts only) | 0.00 | |||
Interchange Collections | 3,016,564.33 | |||
Collection Account Investment Proceeds | 0.00 | |||
Recoveries treated as Finance Charge Collections | 0.00 | |||
Total Finance Charge Receivables Collections | 18,937,129.04 | |||
Principal Receivables Collections | 116,591,018.70 | |||
Recoveries treated as Principal Collections | 746,869.35 | |||
Total Principal Receivables Collections | 117,337,888.05 | |||
Monthly Payment Rate (Principal plus Interest divided by Beg. Total Receivables) | 9.50% | |||
Defaulted Amount (Net of Recoveries) | 9,746,894.38 | |||
Additional Defaults due to change in charge-off policy | 0.00 | |||
Annualized Default Rate | 8.61% | |||
Trust Gross Yield | 16.74% | |||
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 | 1,332,490,654.47 | |||
Ending Special Funding Account (SFA) Balance | 0.00 | |||
Ending Principal Receivables + SFA Balance | 1,332,490,654.47 | |||
Ending Finance Charge Receivables | 37,291,894.69 | |||
Ending Total Receivables | 1,369,782,549.16 | |||
Required Minimum Principal Balance (as of month end) | 376,083,333.31 |
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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) | 48,148,180.41 | 48,148,180.41 | ||||||||
Initial Invested Amount + Req Transf Amount | 798,148,180.41 | 798,148,180.41 | ||||||||
Series Allocation Percentage | 100.00% | 100.00% | ||||||||
Series Allocable Finance Charge Collections | 18,937,129.04 | 18,937,129.04 | ||||||||
Series Allocable Principal Collections | 117,337,888.05 | 117,337,888.05 | ||||||||
Series Allocable Defaulted Amounts | 9,746,894.38 | 9,746,894.38 | ||||||||
Series Allocable Servicing Fee | 523,190.80 | 523,190.80 | ||||||||
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 | 1,486,920.49 | 1,486,920.49 | ||||||||
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 | 72.28% | |||||||||
Principal Allocation Percentage | 55.24% | |||||||||
Principal Collections | 64,814,728.76 | |||||||||
Floating Allocation Percentage | 27.72% | |||||||||
Class A Certificate Rate | 1.50000% | |||||||||
Class B Certificate Rate | 1.73000% | |||||||||
CIA Certificate Rate | 2.34500% | |||||||||
CIA Secured Loan Spread Rate | 2.09500% | |||||||||
Class D Certificate Rate | 0.00000% | |||||||||
Class A Interest | 748,000.00 | |||||||||
Class B Interest | 184,629.44 | |||||||||
Collateral Monthly Interest | 10,699.65 | |||||||||
Class D Interest | 0.00 | |||||||||
Investor Monthly Interest | 943,329.09 | |||||||||
Investor Default Amount (Net of Recoveries) | 2,701,958.26 | |||||||||
Interchange Collections | 836,228.50 | |||||||||
0.75% of Interchange | 196,196.55 | |||||||||
Servicer Interchange | 196,196.55 | |||||||||
Monthly Servicing Fee (Before Adjustments) | 523,190.80 | |||||||||
Interchange Adjustment | 0.00 | |||||||||
SFA Adjustment | 0.00 | |||||||||
Previous Period Adjustment | 0.00 | |||||||||
Total Monthly Servicing Fee (After all adjustments) | 523,190.80 | |||||||||
C. | Calculation of Redirected Investor Finance Charge Collections (“Socialism”) | |||||||||
Group I | 1998-3 | |||||||||
Beginning Invested Amount (Month) | 696,890,105.62 | 696,890,105.62 | ||||||||
Finance Charge Collections | 5,249,603.64 | 5,249,603.64 | ||||||||
Reserve Account Interest | 3,315.26 | 3,315.26 | ||||||||
PFA Proceeds | 402,479.74 | 402,479.74 | ||||||||
Total Finance Charge Collections | 5,655,398.64 | 5,655,398.64 | ||||||||
Investor Monthly Interest | 943,329.09 | 943,329.09 | ||||||||
Investor Default Amount | 2,701,958.26 | 2,701,958.26 | ||||||||
Monthly Servicing Fee | 523,190.80 | 523,190.80 | ||||||||
Additional Amounts | 0.00 | 0.00 | ||||||||
Total Amount Due | 4,168,478.15 | 4,168,478.15 | ||||||||
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 | 943,329.09 2,701,958.26 523,190.80 0.00 | |||||||
Redirected Finance Charge Collections | 5,655,398.64 | 5,655,398.64 | ||||||||
Amount of funds redistributed per 4.10 | 0.00 | |||||||||
Redirected Finance Charge Collections—PFA Proceeds (Class A available funds) | 5,252,918.90 | |||||||||
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PARTNERS FIRST CREDIT CARD MASTER TRUST
MONTHLY TRUST ACTIVITY
D. Trust Performance | |||||||||||||
30-59 Days Delinquent | 23,685,629.76 | 1.78 | % | ||||||||||
60-89 Days Delinquent | 16,490,524.48 | 1.24 | % | ||||||||||
90+ Days Delinquent | 32,951,284.83 | 2.47 | % | ||||||||||
Total 30+ Days Delinquent | 73,127,439.07 | 5.49 | % |
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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