Jpmorgan Chase Bank, National Association 8-K Other Events

Exhibit 99.01

First USA Credit Card Master Trust

Excess Spread Analysis - May 2006

Series	1996-4		1997-4		1997-8		1998-6
Deal Size	$602MM		$602MM		$939MM		$964MM
Expected Maturity	8/10/2006		6/17/2007		9/17/2007		8/18/2008
Yield	16.81	%	16.81	%	16.81	%	16.80	%
Less: Coupon	5.39	%	5.38	%	5.33	%	5.34	%
Servicing Fee	1.50	%	1.50	%	1.50	%	1.50	%
Net Credit Losses	3.68	%	3.68	%	3.67	%	3.67	%
Excess Spread:
May-06	6.24	%	6.25	%	6.31	%	6.29	%
April-06	6.23	%	6.19	%	6.24	%	6.22	%
March-06	9.63	%	9.59	%	9.64	%	9.57	%
Three Month Average Excess Spread	7.37	%	7.34	%	7.40	%	7.36	%
Delinquency:
30 to 59 Days	0.95	%	0.95	%	0.95	%	0.95	%
60 to 89 Days	0.72	%	0.72	%	0.72	%	0.72	%
90+ Days	1.50	%	1.50	%	1.50	%	1.50	%
Total	3.17	%	3.17	%	3.17	%	3.17	%
Principal Payment Rate	19.41	%	19.41	%	19.41	%	19.41	%