SECURITIES AND EXCHANGE COMMISSION
Washington,D.C. 20549
_______________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) September 14, 2001
Associates Credit Card Receivables Corp.
Associates Credit Card Master Note Trust
(Exact name of registrant as specified in its charter)
Delaware 333-94867 75-2709748
333-9486701
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) Number)
290 E. Carpenter Freeway, Irving, Texas 75062-2729
(Address of Principal Executive Office) (Zip Code)
Registrants telephone number, including area code (972) 652-4000
Item 5. Other Events
The monthly statements for the month of August 2001 were distributed
to Noteholders on September 17, 2001
Item 7 (C). Exhibits.
Exhibit No. Description
20.1 Series 2000-1 monthly statement for the month of August 2001.
20.2 Series 2000-2 monthly statement for the month of August 2001.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ASSOCIATES CREDIT CARD RECEIVABLES CORP
By: __/s/ David Keller
David Keller
Executive Vice President
<table>
<caption>
File:August '018k_2000-1 CONFIDENTIAL
Servicer's Report Date of Report: 16-Sep-01
Interest Period: August 17, 2001 to September 14, 2001, Pay September 17th
Associates Credit Card Master Note Trust, Series 2000-1
----------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------
Transferor Trust
Interest Totals
-----------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------
Beginning Principal Receivables Balance 6,786,235,016.84
Beginning Fin. Chrg. Receivables Balance 332,911,900.50
Beginning Total Receivables Balance 7,119,146,917.34
Beginning Special Funding Accnt Balance 0.00
Beginning Spread Account Balance 0.00
Beginning Reserve Account Balance 0.00
Beginning Period Invested Amount 1,202,397,616.84
Ending Period Invested Amount 1,212,517,758.10
<caption>
Class A Class B Class C Total Series
Monthly Master Note Trust Activities Note Note Note Note
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
Initial Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00
Beginning Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00
Note Principal Balance Increase 0.00 0.00 0.00 0.00
Note Principal Balance Decrease 0.00 0.00 0.00 0.00
Reductions in Invested Amount this Period
(Other than by Principal Payments) 0.00 0.00 0.00 0.00
Previous Reductions in Invested Amount
Reimbursed this Period 0.00 0.00 0.00 0.00
Ending Special Funding Accnt Balance
Ending Spread Account Balance
Ending Reserve Account Balance
Ending Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00
</table>
<Table>
<Caption>
------------------------------------------------------------------------------------
------------------------------------------------------------------------------------
Group I Information Series 2000-1
------------------------------------------------------------------------------------
------------------------------------------------------------------------------------
Beginning Invested Amount 1,000,000,000.00
Average Rate 3.85%
Allocable Finance Charge Collections 21,507,286.44
Allocable Principal Collections 89,389,622.56
Allocable Default Amount Due 8,610,695.43
Allocable Monthly Interest Due 3,317,839.58
Allocable Monthly Servicing Fees Due 1,666,666.67
Ending Invested Amount 1,000,000,000.00
</table>
<table>
<caption>
----------------------------------------
----------------------------------------
Payout Event Tests
----------------------------------------
----------------------------------------
Base Rate Trigger
3 Month Average Portfolio Yield 13.88%
3 Month Average Base Rate 6.14%
Spread 7.74%
Trigger Pass Test: If Spread is >0, "Yes" Yes
<Caption>
Transferor's Interest Trigger
Required Transferor Interest 475,744,861.07
Transferor Interest 1,212,517,758.10
Trigger Pass Test Yes
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Series 2000-1
Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and
supplemented, the "Master Indenture"), between Associates Credit Card Master
Note Trust (the "Trust) and the Bank of New York, as indenture trustee (the
Indenture Trustee), as supplemented by the Series 2000-1 Indenture Supplement,
dated as of June 13, 2000 (the "Indenture Supplement"), between the Trust and
the Indenture Trustee, Associates National Bank(Delaware), as Servicer (the
"Servicer") under the Transfer and Servicing Agreement, dated as of April 1,
2000 (the "Transfer and Servicing Agreement") among Associates Credit Card
Receivables Corp., as Transferor, the Servicer and the Trust, is required to
prepare certain information each month regarding current distributions to the
Series 2000-1 Noteholders and the performance of the Trust during the previous
month. The information which is required to be prepared with respect to the
Distribution Date of September 17, 2001, and with respect to the performance of
the Trust during the month of August is set forth below. Capitalized terms used
in this Monthly Statement have their respective meanings set forth in the Master
Indenture and the Indenture Supplement.
<Table>
Current Transaction Period: Revolving Period
Any Cash Flow Shortfalls this Period No
Any Cash Flow Shortfalls from Previous Period No
Payout Event this Period: No
Group I Participants: Series 2000-1
</table>
MASTER NOTE TRUST RECEIVABLES
YIELD AND BASE RATE --
August: (31 posting days)
<table>
<caption>
Yield Defaults Total
Portfolio Yield (Current Month) 24.98% 10.00% 14.98%
Portfolio Yield (Prior Month) 23.80% 10.31% 13.49%
Portfolio Yield (Two Months Ago) 24.99% 11.81% 13.18%
THREE MONTH AVERAGE PORTFOLIO YIELD 13.88%
--------------------
--------------------
</table>
<table>
<caption>
Servicing Coupon Total
Base Rate (Current Month) 2.00% 3.85% 5.85%
Base Rate (Prior Month) 2.00% 4.20% 6.20%
Base Rate (Two Months Ago) 2.00% 4.37% 6.37%
THREE MONTH AVERAGE BASE RATE 6.14%
--------------------
--------------------
</table>
<table>
<caption>
Beginning Period Principal Receivables 6,786,235,016.84
Beginning Period Finance Charge Receivables 332,911,900.50
Beginning Period Discounted Receivables 0.00
Beginning Period Total Receivables 7,119,146,917.34
Removed Principal Receivables 0.00
Removed Finance Charge Receivables 0.00
Removed Total Receivables 0.00
Discounted Receivables Generated this Period 0.00
Additional Principal Receivables 0.00
Additional Finance Charge Receivables 0.00
Additional Total Receivables 0.00
Total Principal Collections this Period 606,618,986.75
Total Defaulted Principal Receivables this Period 58,434,202.86
Total Receivables Adjustments this Period 23,887,608.29
Total Finance Charge Collections this Period 145,953,500.36
Total Discounted Receivables this Period 0.00
Ending Period Principal Receivables 6,796,355,158.10
Ending Period Finance Charge Receivables 328,456,957.58
Ending Period Discounted Receivables 0.00
Ending Period Total Receivables 7,124,812,115.68
DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
31-60 Days Delinquent 165,689,393.64
61-90 Days Delinquent 107,474,334.73
91+ Days Delinquent 202,139,057.81
Total 31+ Days Delinquent 475,302,786.18
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
CASH FLOW ALLOCATIONS
SERIES 2000-1
----------------
----------------
FLOATING INVESTOR PERCENTAGE 0.147357
FIXED INVESTOR PERCENTAGE 0.147357
----------------
----------------
<table>
<caption>
FINANCE CHARGE ALLOCATIONS Total
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Finance Charge Collections 145,953,500.36
---------------------
---------------------
Investor Percentage 0.147357
---------------------
---------------------
Investor Finance Charge Collections 21,507,286.44 21,507,286.44
Excess Finance Charge Collections allocated to Series 0.00 0.00
Available Finance Charge Collections 21,507,286.44 21,507,286.44
</table>
CASH FLOW ALLOCATIONS
<table>
<caption>
Class A Distributions
(1)Class A Monthly Interest 2,450,894.44
(2)Class A Monthly Interest Previously Due 0.00
(3)Class A Monthly Additional Interest 0.00
(4)Class A Monthly Additional Interest Previously Due 0.00
Total Class A Monthly Interest 2,450,894.44
Class B Distributions
(5)Class B Monthly Interest 349,525.00
(6)Class B Monthly Interest Previously Due 0.00
(7)Class B Monthly Additional Interest 0.00
(8)Class B Monthly Additional Interest Previously Due 0.00
Total Class B Monthly Interest 349,525.00
(9)Total Monthly Servicing Fee for Series 1,666,666.67
(10)Total Servicing Fee for Series Previously Due 0.00
(11)Class A Prepayable Increase Amount Interest 0.00
(12)Class B Prepayable Increase Amount Interest 0.00
(13)Investor Default Amount 8,610,695.43
(14)Investor Charge-Offs 0.00
(15)Reallocated Principal Collections Previously Due 0.00
Class C Distributions
(16)Class C Monthly Interest
(21)Funds Required per Note Agreement under
Sections 2.07, 2.08 & 2.09 517,420.14
(22)Funds Required per Note Agreement under
Sections 2.04 (e) & 7.01
0
Spread Account Distributions
(23)Class C Spread Account Required Deposit 0.00
TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER 0
SERIES' ALLOCATIONS
EXCESS SPREAD ALLOCATED TO OTHER SERIES' 7,912,084.76
EXCESS SPREAD RELEASED TO TRANSFEROR 0.00
7912084.762
</table>
<table>
<caption>
PRINCIPAL ALLOCATIONS Class A Class B
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Principal Collections 606,618,986.75
---------------------
---------------------
Investor Percentage 0.147357
---------------------
---------------------
Investor Principal Collections 89,389,622.56
Shared Principal Collections from other Series' 517,229,364.19
Available Principal Collections 606,618,986.75
Controlled Amoritization Amount 0.00 0.00
Partial Amoritization Amount 0.00 0.00
Deficiency Controlled Amoritization Amount 0.00 0.00
Monthly Principal Amount 0.00 0.00
Principal Shortfall
Reallocated Principal to other Series' 0.00 0.00
Class C Total
------------------------------------------
------------------------------------------
Controlled Amoritization Amount 0.00 0.00
Partial Amoritization Amount 0.00 0.00
Deficiency Controlled Amoritization Amount 0.00 0.00
Monthly Principal Amount 0.00 0.00
Principal Shortfall
Reallocated Principal to other Series' 0.00
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
<table>
<caption>
Group 1 Coupon Rate Balance Interest Payments
--------------------- --------------------- ---------------------
--------------------- --------------------- ---------------------
Series 2000-1, Class A 3.75% $ 760,000,000.00 $ 2,450,894.44
Series 2000-1, Class B 3.96% $ 102,500,000.00 $ 349,525.00
Series 2000-1, Class C 4.37% $ 137,500,000.00 $ 517,420.14
</table>
<table>
<caption>
Series 2000-1
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
Class A Class B Class C Total
--------------------- --------------------- --------------------- --------------------
--------------------- --------------------- --------------------- --------------------
Principal Distribution Required Amt $ - $ - - $ - - $ -
Interest Distribution Required Amt $ 2,450,894.44 $ 349,525.00 $ 517,420.14 $ 3,317,839.58
Unpaid Principal Shortfalls paid $ - $ - $ - $ -
Unpaid Interest Shortfalls paid $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,666,666.67 $ 1,666,666.67
--------------------- --------------------- --------------------- --------------------
--------------------- --------------------- --------------------- --------------------
Total Required Distribution $ 2,450,894.44 $ 349,525.00 $ 2,184,086.81 $ 4,984,506.25
===================== ===================== ===================== ====================
===================== ===================== ===================== ====================
</table>
<table>
<caption>
File:August '018k_2000-2 CONFIDENTIAL
Servicer's Report Date of Report: 17-Sep-01
Interest Period: August 17, 2001 to September 14, 2001, Pay September 17th
Associates Credit Card Master Note Trust, Series 2000-2
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------
Transferor Trust
Interest Totals
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
Beginning Principal Receivables Balance 6,786,235,016.84
Beginning Fin. Chrg. Receivables Balance 332,911,900.50
Beginning Total Receivables Balance 7,119,146,917.34
Beginning Special Funding Accnt Balance 0.00
Beginning Spread Account Balance 0.00
Beginning Reserve Account Balance 0.00
Beginning Period Invested Amount 1,202,397,616.84
Ending Period Invested Amount 1,212,517,758.10
<caption>
Class A Class B Class C Total Series
Monthly Master Note Trust Activities Note Note Note Note
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Initial Invested Amount 600,000,000.00 80,921,000.00 108,553,000.00 789,474,000.00
Beginning Period Invested Amount 600,000,000.00 80,921,000.00 108,553,000.00 789,474,000.00
Note Principal Balance Increase 0.00 0.00 0.00 0.00
Note Principal Balance Decrease 0.00 0.00 0.00 0.00
Reductions in Invested Amount this Period
(Other than by Principal Payments) 0.00 0.00 0.00 0.00
Previous Reductions in Invested Amount
Reimbursed this Period 0.00 0.00 0.00 0.00
Ending Special Funding Accnt Balance
Ending Spread Account Balance
Ending Reserve Account Balance
Ending Period Invested Amount 600,000,000.00 80,921,000.00 108,553,000.00 789,474,000.00
</table>
<Table>
<Caption>
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
Group I Information Series 2000-2
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
Beginning Invested Amount 789,474,000.00
Average Rate 3.83%
Allocable Finance Charge Collections 16,979,443.46
Allocable Principal Collections 70,570,782.88
Allocable Default Amount Due 6,797,920.17
Allocable Monthly Interest Due 2,606,431.58
Allocable Monthly Servicing Fees Due 1,315,790.00
Ending Invested Amount 789,474,000.00
</table>
<table>
<caption>
----------------------------------------
----------------------------------------
Payout Event Tests
----------------------------------------
----------------------------------------
Base Rate Trigger
3 Month Average Portfolio Yield 13.88%
3 Month Average Base Rate 6.02%
Spread 7.86%
Trigger Pass Test: If Spread is >0, "Yes" Yes
<Caption>
Transferor's Interest Trigger
Required Transferor Interest 475,744,861.07
Transferor Interest 1,212,517,758.10
Trigger Pass Test Yes
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Series 2000-2
Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and
supplemented, the "Master Indenture"), between Associates Credit Card Master
Note Trust (the "Trust) and the Bank of New York, as indenture trustee (the
Indenture Trustee), as supplemented by the Series 2000-2 Indenture Supplement,
dated as of June 13, 2000 (the "Indenture Supplement"), between the Trust and
the Indenture Trustee, Associates National Bank(Delaware), as Servicer (the
"Servicer") under the Transfer and Servicing Agreement, dated as of April 1,
2000 (the "Transfer and Servicing Agreement") among Associates Credit Card
Receivables Corp., as Transferor, the Servicer and the Trust, is required to
prepare certain information each month regarding current distributions to the
Series 2000-2 Noteholders and the performance of the Trust during the previous
month. The information which is required to be prepared with respect to the
Distribution Date of September 17, 2001, and with respect to the performance of
the Trust during the month of August is set forth below. Capitalized terms used
in this Monthly Statement have their respective meanings set forth in the Master
Indenture and the Indenture Supplement.
<Table>
Current Transaction Period: Revolving Period
Any Cash Flow Shortfalls this Period No
Any Cash Flow Shortfalls from Previous Period No
Payout Event this Period: No
Group I Participants: Series 2000-2
</table>
MASTER NOTE TRUST RECEIVABLES
YIELD AND BASE RATE --
August: (31 posting days)
<table>
<caption>
Yield Defaults Total
Portfolio Yield (Current Month) 24.98% 10.00% 14.98%
Portfolio Yield (Prior Month) 23.80% 10.31% 13.49%
Portfolio Yield (Two Months Ago) 24.99% 11.81% 13.18%
THREE MONTH AVERAGE PORTFOLIO YIELD 13.88%
---------------------
---------------------
</table>
<table>
<caption>
Servicing Coupon Total
Base Rate (Current Month) 2.00% 3.83% 5.83%
Base Rate (Prior Month) 2.00% 4.04% 6.04%
Base Rate (Two Months Ago) 2.00% 4.18% 6.18%
THREE MONTH AVERAGE BASE RATE 6.02%
---------------------
---------------------
</table>
<table>
<caption>
Beginning Period Principal Receivables 6,786,235,016.84
Beginning Period Finance Charge Receivables 332,911,900.50
Beginning Period Discounted Receivables 0.00
Beginning Period Total Receivables 7,119,146,917.34
Removed Principal Receivables 0.00
Removed Finance Charge Receivables 0.00
Removed Total Receivables 0.00
Discounted Receivables Generated this Period 0.00
Additional Principal Receivables 0.00
Additional Finance Charge Receivables 0.00
Additional Total Receivables 0.00
Total Principal Collections this Period 606,618,986.75
Total Defaulted Principal Receivables this Period 58,434,202.86
Total Receivables Adjustments this Period 23,887,608.29
Total Finance Charge Collections this Period 145,953,500.36
Total Discounted Receivables this Period 0.00
Ending Period Principal Receivables 6,796,355,158.10
Ending Period Finance Charge Receivables 328,456,957.58
Ending Period Discounted Receivables 0.00
Ending Period Total Receivables 7,124,812,115.68
DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
31-60 Days Delinquent 165,689,393.64
61-90 Days Delinquent 107,474,334.73
91+ Days Delinquent 202,139,057.81
Total 31+ Days Delinquent 475,302,786.18
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
CASH FLOW ALLOCATIONS
SERIES 2000-2
-------------------
------------------
FLOATING INVESTOR PERCENTAGE 0.116335
FIXED INVESTOR PERCENTAGE 0.116335
-------------------
-------------------
<table>
<caption>
FINANCE CHARGE ALLOCATIONS Total
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Finance Charge Collections 145,953,500.36
----------------------
----------------------
Investor Percentage 0.116335
----------------------
----------------------
Investor Finance Charge Collections 16,979,443.46 16,979,443.46
Excess Finance Charge Collections allocated to Series 0.00 0.00
Available Finance Charge Collections 16,979,443.46 16,979,443.46
</table>
CASH FLOW ALLOCATIONS
<table>
<caption>
Class A Distributions
(1)Class A Monthly Interest 1,922,000.00
(2)Class A Monthly Interest Previously Due 0.00
(3)Class A Monthly Additional Interest 0.00
(4)Class A Monthly Additional Interest Previously Due 0.00
Total Class A Monthly Interest 1,922,000.00
Class B Distributions
(5)Class B Monthly Interest 275,940.61
(6)Class B Monthly Interest Previously Due 0.00
(7)Class B Monthly Additional Interest 0.00
(8)Class B Monthly Additional Interest Previously Due 0.00
Total Class B Monthly Interest 275,940.61
(9)Total Monthly Servicing Fee for Series 1,315,790.00
(10)Total Servicing Fee for Series Previously Due 0.00
(11)Class A Prepayable Increase Amount Interest 0.00
(12)Class B Prepayable Increase Amount Interest 0.00
(13)Investor Default Amount 6,797,920.17
(14)Investor Charge-Offs 0.00
(15)Reallocated Principal Collections Previously Due 0.00
Class C Distributions
(16)Class C Monthly Interest 408,490.97
(21)Funds Required per Note Agreement under
Sections 2.07, 2.08 & 2.09 0.00
(22)Funds Required per Note Agreement under
Sections 2.04 (e) & 7.01 0.00
Spread Account Distributions
(23)Class C Spread Account Required Deposit 0.00
TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER
SERIES' ALLOCATIONS 6,259,301.71
EXCESS SPREAD ALLOCATED TO OTHER SERIES' 0.00
EXCESS SPREAD RELEASED TO TRANSFEROR 6,259,301.71
</table>
<table>
<caption>
PRINCIPAL ALLOCATIONS Class A Class B
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Principal Collections 606,618,986.75
-----------------------
-----------------------
Investor Percentage 0.116335
-----------------------
-----------------------
Investor Principal Collections 70,570,782.88
Shared Principal Collections from other Series' 536,048,203.87
Available Principal Collections 606,618,986.75
Controlled Amoritization Amount 0.00 0.00
Partial Amoritization Amount 0.00 0.00
Deficiency Controlled Amoritization Amount 0.00 0.00
Monthly Principal Amount 0.00 0.00
Principal Shortfall
Reallocated Principal to other Series' 0.00 0.00
Class C Total
--------------------------------------------
--------------------------------------------
Controlled Amoritization Amount 0.00 0.00
Partial Amoritization Amount 0.00 0.00
Deficiency Controlled Amoritization Amount 0.00 0.00
Monthly Principal Amount 0.00 0.00
Principal Shortfall
Reallocated Principal to other Series' 0.00
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
<table>
<caption>
Group 1 Coupon Rate Balance Interest Payments
--------------------- ----------------------- ----------------------
--------------------- ----------------------- ----------------------
Series 2000-2, Class A 3.72% $ 600,000,000.00 $ 1,922,000.00
Series 2000-2, Class B 3.96% $ 80,921,000.00 $ 275,940.61
Series 2000-2, Class C 4.37% $ 108,553,000.00 $ 408,490.97
</table>
<table>
<caption>
Series 2000-2
------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------
Class A Class B Class C Total
--------------------- ----------------------- ---------------------- ---------------------
--------------------- ----------------------- ---------------------- ---------------------
Principal Distribution Required Amt $ - $ - - $ - - $ -
Interest Distribution Required Amt $ 1,922,000.00 $ 275,940.61 $ 408,490.97 $ 2,606,431.58
Unpaid Principal Shortfalls paid $ - $ - $ - $ -
Unpaid Interest Shortfalls paid $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,315,790.00 $ 1,315,790.00
--------------------- ----------------------- ---------------------- ---------------------
--------------------- ----------------------- ---------------------- ---------------------
Total Required Distribution $ 1,922,000.00 $ 275,940.61 $ 1,724,280.97 $ 3,922,221.58
===================== ======================= ====================== =====================
===================== ======================= ====================== =====================
</table>