Jpmorgan Chase Bank, National Association 8-K Other Events

Exhibit 99.01

First USA Credit Card Master Trust

Excess Spread Analysis - October 2004

Series		1996-4	1997-4	1997-8	1998-4	1998-6
Deal Size		$602MM	$602MM	$939MM	$843MM	$964MM
Expected Maturity		8/10/2006	6/17/2007	9/17/2007	7/18/2005	8/18/2008
Yield		15.80%	15.80%	15.80%	15.80%	15.80%
Less:	Coupon	2.17%	2.19%	2.14%	2.06%	2.45%
	Servicing Fee	1.50%	1.50%	1.50%	1.50%	1.50%
	Net Credit Losses	5.98%	5.98%	5.98%	5.98%	5.98%
Excess Spread:
	October-04	6.15%	6.13%	6.18%	6.26%	5.87%
	September-04	5.58%	5.54%	5.60%	5.65%	5.25%
	August-04	6.85%	6.84%	6.89%	6.97%	6.55%
Three Month Average Excess Spread		6.19%	6.17%	6.22%	6.29%	5.89%
Delinquency:
	30 to 59 Days	1.30%	1.30%	1.30%	1.30%	1.30%
	60 to 89 Days	0.92%	0.92%	0.92%	0.92%	0.92%
	90+ Days	1.87%	1.87%	1.87%	1.87%	1.87%
	Total	4.09%	4.09%	4.09%	4.09%	4.09%
Payment Rate		13.39%	13.39%	13.39%	13.39%	13.39%

Series		1998-8	1999-2	2001-1	2001-3	2001-4
Deal Size		$602MM	$602MM	$893MM	$750MM	$714MM
Expected Maturity		9/18/2005	2/21/2006	1/19/2006	3/20/2006	8/10/2006
Yield		15.80%	15.80%	15.80%	15.80%	15.80%
Less:	Coupon	2.13%	2.53%	2.14%	2.13%	2.09%
	Servicing Fee	1.50%	1.50%	1.50%	1.50%	1.50%
	Net Credit Losses	5.98%	5.98%	5.98%	5.98%	5.98%
Excess Spread:
	October-04	6.19%	5.79%	6.18%	6.19%	6.23%
	September-04	5.58%	5.17%	5.57%	5.57%	5.65%
	August-04	6.90%	6.47%	6.89%	6.90%	6.93%
Three Month Average Excess Spread		6.22%	5.81%	6.21%	6.22%	6.27%
Delinquency:
	30 to 59 Days	1.30%	1.30%	1.30%	1.30%	1.30%
	60 to 89 Days	0.92%	0.92%	0.92%	0.92%	0.92%
	90+ Days	1.87%	1.87%	1.87%	1.87%	1.87%
	Total	4.09%	4.09%	4.09%	4.09%	4.09%
Payment Rate		13.39%	13.39%	13.39%	13.39%	13.39%