Exhibit 99.1
Chase Credit Card Master Trust
Excess Spread Analysis - April 2006
Series Deal Size Expected Maturity | 1996-3 $435MM 7/15/2006 | 1998-4 $599MM 9/15/2008 | 2001-2 $595MM 6/15/2006 | 2001-4 $1,000MM 8/15/2006 | 2001-6 $1,200MM 12/15/2006 | 2002-1 $1,000MM 3/15/2007 | ||||||||||||
Yield | 17.26 | % | 17.24 | % | 17.26 | % | 17.26 | % | 17.24 | % | 17.24 | % | ||||||
Less: Coupon | 6.90 | % | 4.98 | % | 5.02 | % | 4.75 | % | 5.06 | % | 5.01 | % | ||||||
Servicing Fee | 1.50 | % | 1.50 | % | 1.50 | % | 1.50 | % | 1.50 | % | 1.50 | % | ||||||
Net Credit Losses | 3.88 | % | 3.88 | % | 3.88 | % | 3.88 | % | 3.88 | % | 3.88 | % | ||||||
Excess Spread: | ||||||||||||||||||
April-06 | 4.98 | % | 6.88 | % | 6.86 | % | 7.14 | % | 6.81 | % | 6.85 | % | ||||||
March-06 | 8.05 | % | 10.03 | % | 10.07 | % | 9.65 | % | 10.01 | % | 10.05 | % | ||||||
February-06 | 6.32 | % | 8.39 | % | 8.41 | % | 8.67 | % | 8.37 | % | 8.41 | % | ||||||
Three Month Average Excess Spread | 6.45 | % | 8.43 | % | 8.45 | % | 8.49 | % | 8.40 | % | 8.44 | % | ||||||
Delinquency: | ||||||||||||||||||
30 to 59 Days | 1.12 | % | 1.12 | % | 1.12 | % | 1.12 | % | 1.12 | % | 1.12 | % | ||||||
60 to 89 Days | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | ||||||
90+ Days | 1.53 | % | 1.53 | % | 1.53 | % | 1.53 | % | 1.53 | % | 1.53 | % | ||||||
Total | 3.41 | % | 3.41 | % | 3.41 | % | 3.41 | % | 3.41 | % | 3.41 | % | ||||||
Principal Payment Rate | 17.28 | % | 17.28 | % | 17.28 | % | 17.28 | % | 17.28 | % | 17.28 | % | ||||||
Series Deal Size Expected Maturity | 2002-3 $1,500MM 6/15/2009 | 2002-5 $1,000MM 7/15/2007 | 2002-7 $750MM 11/15/2007 | 2003-2 $1,340MM 4/15/2008 | 2003-3 $1,425MM 7/15/2008 | 2003-4 $725MM 10/15/2013 | ||||||||||||
Yield | 17.24 | % | 17.24 | % | 17.24 | % | 17.24 | % | 17.24 | % | 17.24 | % | ||||||
Less: Coupon | 5.08 | % | 5.01 | % | 5.06 | % | 5.05 | % | 5.03 | % | 5.17 | % | ||||||
Servicing Fee | 1.50 | % | 1.50 | % | 1.50 | % | 1.50 | % | 1.50 | % | 1.50 | % | ||||||
Net Credit Losses | 3.88 | % | 3.88 | % | 3.88 | % | 3.88 | % | 3.88 | % | 3.88 | % | ||||||
Excess Spread: | ||||||||||||||||||
April-06 | 6.78 | % | 6.85 | % | 6.81 | % | 6.81 | % | 6.83 | % | 6.69 | % | ||||||
March-06 | 9.99 | % | 10.06 | % | 10.01 | % | 10.02 | % | 10.04 | % | 9.89 | % | ||||||
February-06 | 8.34 | % | 8.42 | % | 8.37 | % | 8.38 | % | 8.40 | % | 8.25 | % | ||||||
Three Month Average Excess Spread | 8.37 | % | 8.44 | % | 8.39 | % | 8.40 | % | 8.42 | % | 8.28 | % | ||||||
Delinquency: | ||||||||||||||||||
30 to 59 Days | 1.12 | % | 1.12 | % | 1.12 | % | 1.12 | % | 1.12 | % | 1.12 | % | ||||||
60 to 89 Days | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | ||||||
90+ Days | 1.53 | % | 1.53 | % | 1.53 | % | 1.53 | % | 1.53 | % | 1.53 | % | ||||||
Total | 3.41 | % | 3.41 | % | 3.41 | % | 3.41 | % | 3.41 | % | 3.41 | % | ||||||
Principal Payment Rate | 17.28 | % | 17.28 | % | 17.28 | % | 17.28 | % | 17.28 | % | 17.28 | % | ||||||
Series Deal Size Expected Maturity | 2003-5 $1,000MM 10/15/2008 | 2003-6 $2,000MM 11/15/2008 | 2004-1 $1,500MM 2/15/2007 | 2004-2 $1,750MM 6/15/2007 | ||||||||
Yield | 17.24 | % | 17.24 | % | 17.24 | % | 17.24 | % | ||||
Less: Coupon | 5.02 | % | 5.00 | % | 4.90 | % | 4.91 | % | ||||
Servicing Fee | 1.50 | % | 1.50 | % | 1.50 | % | 1.50 | % | ||||
Net Credit Losses | 3.88 | % | 3.88 | % | 3.88 | % | 3.88 | % | ||||
Excess Spread: | ||||||||||||
April-06 | 6.84 | % | 6.86 | % | 6.97 | % | 6.95 | % | ||||
March-06 | 10.05 | % | 10.07 | % | 10.17 | % | 10.16 | % | ||||
February-06 | 8.40 | % | 8.42 | % | 8.52 | % | 8.50 | % | ||||
Three Month Average Excess Spread | 8.43 | % | 8.45 | % | 8.55 | % | 8.54 | % | ||||
Delinquency: | ||||||||||||
30 to 59 Days | 1.12 | % | 1.12 | % | 1.12 | % | 1.12 | % | ||||
60 to 89 Days | 0.76 | % | 0.76 | % | 0.76 | % | 0.76 | % | ||||
90+ Days | 1.53 | % | 1.53 | % | 1.53 | % | 1.53 | % | ||||
Total | 3.41 | % | 3.41 | % | 3.41 | % | 3.41 | % | ||||
Principal Payment Rate | 17.28 | % | 17.28 | % | 17.28 | % | 17.28 | % | ||||
