Bank One De Na As Serv On Behalf Part Credit Card Mas TR Inactive
Filed: 16 Jun 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 | 1,267,006,186.55 | |
Beginning Special Funding Account Balance | 0.00 | |
Beginning Principal Receivables + SFA Balance | 1,267,006,186.55 | |
Beginning Finance Charge Receivables | 34,826,668.81 | |
Beginning Total Receivables | 1,301,832,855.36 | |
Special Funding Account Earnings | 0.00 | |
Finance Charge Collections | 14,922,500.87 | |
Interest/Fee Reversals (Wachovia accounts only) | 0.00 | |
Interchange Collections | 3,181,594.48 | |
Collection Account Investment Proceeds | 0.00 | |
Recoveries treated as Finance Charge Collections | 0.00 | |
Total Finance Charge Receivables Collections | 18,104,095.35 | |
Principal Receivables Collections | 110,466,482.73 | |
Recoveries treated as Principal Collections | 1,400,367.37 | |
Total Principal Receivables Collections | 111,866,850.10 | |
Monthly Payment Rate (Principal plus Interest divided by Beg. Total Receivables) | 9.63% | |
Defaulted Amount (Net of Recoveries) | 9,114,956.32 | |
Annualized Default Rate | 8.63% | |
Trust Gross Yield | 17.15% | |
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 | 1,244,204,315.30 | |
Ending Special Funding Account (SFA) Balance | 0.00 | |
Ending Principal Receivables + SFA Balance | 1,244,204,315.30 | |
Ending Finance Charge Receivables | 33,753,962.60 | |
Ending Total Receivables | 1,277,958,277.90 | |
Required Minimum Principal Balance (as of month end) | 124,916,666.63 |
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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 | 18,104,095.35 | 18,104,095.35 | ||||||||
Series Allocable Principal Collections | 111,866,850.10 | 111,866,850.10 | ||||||||
Series Allocable Defaulted Amounts | 9,114,956.32 | 9,114,956.32 | ||||||||
Series Allocable Servicing Fee | 89,027.78 | 89,027.78 | ||||||||
In Revolving Period? | N | |||||||||
Available for Principal Sharing Series | 13,635,408.32 | 13,635,408.32 | ||||||||
Principal Shortfall | 0.00 | 0.00 | ||||||||
Allocation of Shared Principal Collections | 0.00 | 0.00 | ||||||||
Available for Excess Allocation Series | 500,616.78 | 500,616.78 | ||||||||
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 | 90.86% | |||||||||
Principal Allocation Percentage | 59.19% | |||||||||
Principal Collections | 66,219,201.19 | |||||||||
Floating Allocation Percentage | 9.14% | |||||||||
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 | 675,840.00 | |||||||||
Class B Interest | 167,742.22 | |||||||||
Collateral Monthly Interest | 0.00 | |||||||||
Class D Interest | 0.00 | |||||||||
Investor Monthly Interest | 843,582.22 | |||||||||
Investor Default Amount (Net of Recoveries) | 832,873.76 | |||||||||
Interchange Collections | 290,716.32 | |||||||||
0.75% of Interchange | 33,385.42 | |||||||||
Servicer Interchange | 33,385.42 | |||||||||
Monthly Servicing Fee (Before Adjustments) | 89,027.78 | |||||||||
Interchange Adjustment | 0.00 | |||||||||
SFA Adjustment | 0.00 | |||||||||
Previous Period Adjustment | 0.00 | |||||||||
Total Monthly Servicing Fee (After all adjustments) | 89,027.78 | |||||||||
| 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 | 1,654,251.03 | 1,654,251.03 | ||||||||
Reserve Account Interest | 3,127.00 | 3,127.00 | ||||||||
PFA Proceeds | 608,722.51 | 608,722.51 | ||||||||
Total Finance Charge Collections | 2,266,100.54 | 2,266,100.54 | ||||||||
Investor Monthly Interest | 843,582.22 | 843,582.22 | ||||||||
Investor Default Amount | 832,873.76 | 832,873.76 | ||||||||
Monthly Servicing Fee | 89,027.78 | 89,027.78 | ||||||||
Additional Amounts | 0.00 | 0.00 | ||||||||
Total Amount Due | 1,765,483.76 | 1,765,483.76 | ||||||||
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 | 843,582.22 832,873.76 89,027.78 0.00 | |||||||
Redirected Finance Charge Collections | 2,266,100.54 | 2,266,100.54 | ||||||||
Amount of funds redistributed per 4.10 | 0.00 | |||||||||
Redirected Finance Charge Collections—PFA Proceeds (Class A available funds) | 1,657,378.03 | |||||||||
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PARTNERS FIRST CREDIT CARD MASTER TRUST
MONTHLY TRUST ACTIVITY
D. | Trust Performance | ||||||||
30-59 Days Delinquent | 21,371,305.07 | 1.72 | % | ||||||
60-89 Days Delinquent | 13,850,842.73 | 1.11 | % | ||||||
90+ Days Delinquent | 30,421,579.86 | 2.45 | % | ||||||
Total 30+ Days Delinquent | 65,643,727.66 | 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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