Exhibit 99.1
Circuit City Credit Card Master Trust
Excess Spread Analysis - December 2004
Series | 2002-1 | 2003-2 | ||||||
Deal Size | $ | 300 MM | $ | 500 MM | ||||
Expected Maturity | 04/15/05 | 04/17/06 | ||||||
Yield | 21.40 | % | 20.84 | % | ||||
Less: Coupon | 3.16 | % | 4.07 | % | ||||
Servicing Fee | 1.50 | % | 1.50 | % | ||||
Net Credit Losses | 8.35 | % | 8.35 | % | ||||
Excess Spread: | ||||||||
December-04 | 8.39 | % | 6.92 | % | ||||
November-04 | 8.30 | % | 7.41 | % | ||||
October-04 | 8.32 | % | 7.43 | % | ||||
Three month Average Excess Spread | 8.34 | % | 7.25 | % | ||||
Delinquency: | ||||||||
30 to 59 days | 1.77 | % | 1.77 | % | ||||
60 to 89 days | 1.19 | % | 1.19 | % | ||||
90 + days | 2.40 | % | 2.40 | % | ||||
Total | 5.36 | % | 5.36 | % | ||||
Payment Rate | 10.65 | % | 10.65 | % | ||||
| * | On May 25, 2004, Chase Manhattan Bank USA, National Association (“Chase”) (formerly Bank One, Delaware, National Association) became the Transferor and Servicer of the Circuit City Credit Card Master Trust pursuant to the Assignment and Assumption Agreement, dated as of May 25, 2004, among Chase, Tyler International Funding, Inc., First North American National Bank and Deutsche Bank Trust Company Americas (the “Trustee”). |
