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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):
December 15, 1998
FLEET CREDIT CARD MASTER TRUST
(Formerly ADVANTA CREDIT CARD MASTER TRUST)
(Exact name or Registrant as specified in its charter)
New York Reg. No. 33-49602-01 Not Required
(State or other (Commission File (I.R.S. Employer
jurisdiction Number) Identification
of incorporation) Number)
Fleet Bank (RI), National Association
Attention: Linda Morris, Secretary
101 Gibraltar Road
Horsham, Pennsylvania 19044-2303
(Address of Owner/Servicer)
50 Kennedy Plaza
18th Floor
Providence, RI 02903
(Address of principal executive offices)
(215) 444-6800 (Telephone Number of Owner/Servicer)
(Registrant's Telephone Number)
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Items 1-4. Inapplicable.
Item 5. Other Events.
Information relating to the distributions to Certificateholders for the
November 1998 Monthly Period of the Trust in respect of the Floating
Rate Asset Backed Certificates, Series 1993-2, and Floating Rate Asset
Backed Certificates, Series 1993-4 (the "Certificates") issued by the
registrant and to the performance of the Trust (including collections
of Principal Receivables and Finance Charge Receivables, Principal
Receivables in the Trust, delinquent balances in Accounts, the Investor
Default Amounts, the amount of Investor Charge Offs, and the Investor
Servicing Fees), together with certain other information relating to
the Certificates, is contained in the Monthly Report for the Monthly
period provided to Certificateholders pursuant to the Pooling and Servicing
Agreement dated as of April 1, 1992 (hereinafter as such agreement may have
been or may be from time to time, supplemented, amended or otherwise
modified, the "Agreement") between Fleet Bank (RI), National Association
and The Chase Manhattan Bank, as Trustee. Capitalized terms not otherwise
defined herein have the meanings assigned.
Effective February 20, 1998, Fleet Bank (RI), National Association assumed
all of Advanta National Bank's rights and obligations under the Master
Pooling and Servicing Agreement and the outstanding Series Supplements.
Fleet Bank (RI), National Association became the Seller and Servicer of the
Trust and the Trust's name was changed to Fleet Credit Card Master Trust.
Beginning in October 1998, Fleet Bank (RI) has instituted changes in its charge
off policies. These policy changes effect the Default and Excess Spread figures
for Fleet Credit Card Master Trust. The policy changes are as follows:
1. Accounts are charged off at 180 days delinquent. This is a change from
the prior policy of 186 days delinquent for certain accounts. The result
of this policy change was a one-time increase in Defaults and a
corresponding decrease in Excess Spread for the October 1998 monthly
period.
2. Accounts are charged off 60 days after notification of the filing of a
bankruptcy petition. This is a change from the prior policy of 90 days for
certain accounts. This policy change is being phased in over three months.
The result of this policy change will be an increase in Defaults and a
corresponding decrease in Excess Spread for each of the October 1998,
November 1998, and December 1998 monthly periods.
Item 6. Inapplicable.
Item 7. Financial Statements,
Pro Forma Financial Information and Exhibits.
1. Monthly Reports for the November 1998 Monthly Period relating to the
Series 1993-2, and the Series 1993-4 Floating Rate Asset Backed
Certificates issued by the Fleet Credit Card Master Trust.
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SIGNATURE
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 thereunto duly authorized.
FLEET CREDIT CARD MASTER TRUST
(Registrant)
BY: Fleet Bank (RI), National Association
as Servicer
Date: December 15, 1998 By: /s/ JOHN KIRBY BRAY
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Name: John Kirby Bray
Title: Executive Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Sequential
Exhibit Page Number
1. Monthly Reports for the November 1998 Monthly Period 5
relating to the Floating Rate Asset Backed Certificates,
Series 1993-2, and the Floating Rate Asset Backed
Certificates, Series 1993-4, issued by the Fleet Credit
Card Master Trust.