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SUBJECT TO REVISION
SERIES TERM SHEET DATED OCTOBER 30, 2000
[FLEET LOGO]
FLEET CREDIT CARD MASTER TRUST II
ISSUER
FLEET BANK (RI), NATIONAL ASSOCIATION
SELLER AND SERVICER
$611,250,000 CLASS A FLOATING RATE ASSET-BACKED CERTIFICATES, SERIES 2000-D
$56,250,000 CLASS B FLOATING RATE ASSET-BACKED CERTIFICATES, SERIES 2000-D
THE CLASS A FLOATING RATE ASSET-BACKED CERTIFICATES, SERIES 2000-D AND THE
CLASS B FLOATING RATE ASSET-BACKED CERTIFICATES, SERIES 2000-D REPRESENT
INTERESTS IN THE FLEET CREDIT CARD MASTER TRUST II ONLY AND DO NOT AND WILL NOT
REPRESENT INTERESTS IN OR OBLIGATIONS OF FLEET BANK (RI), NATIONAL ASSOCIATION
OR ANY OF ITS AFFILIATES.
A CERTIFICATE IS NOT A DEPOSIT AND NEITHER THE CERTIFICATES NOR THE
UNDERLYING ACCOUNTS OR RECEIVABLES ARE INSURED OR GUARANTEED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY.
THIS SERIES TERM SHEET CONTAINS STRUCTURAL AND COLLATERAL INFORMATION ABOUT
THE CERTIFICATES; HOWEVER, THIS SERIES TERM SHEET DOES NOT CONTAIN COMPLETE
INFORMATION ABOUT THE CERTIFICATES. THE INFORMATION PROVIDED IN THIS SERIES TERM
SHEET IS PRELIMINARY AND WILL BE SUPERSEDED BY THE INFORMATION CONTAINED IN THE
PROSPECTUS SUPPLEMENT AND THE PROSPECTUS. ADDITIONAL INFORMATION WILL BE
CONTAINED IN THE PROSPECTUS SUPPLEMENT AND THE PROSPECTUS. PURCHASERS ARE URGED
TO READ BOTH THE PROSPECTUS SUPPLEMENT AND THE PROSPECTUS.
THIS SERIES TERM SHEET SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THESE SECURITIES
IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR
TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE.
SALES OF THE CERTIFICATES MAY NOT BE CONSUMMATED UNLESS THE PURCHASER HAS
RECEIVED BOTH THE PROSPECTUS SUPPLEMENT AND PROSPECTUS.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED THESE CERTIFICATES OR PASSED ON THE
ADEQUACY OR ACCURACY OF THE DISCLOSURES IN THIS SERIES TERM SHEET, THE
PROSPECTUS SUPPLEMENT OR THE PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
Underwriters of the Class A Certificates
MERRILL LYNCH & CO.
LEHMAN BROTHERS
MORGAN STANLEY DEAN WITTER
SALOMON SMITH BARNEY
FLEET SECURITIES, INC.
Underwriters of the Class B Certificates
MERRILL LYNCH & CO. SALOMON SMITH BARNEY
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SUMMARY OF TERMS
This series term sheet will be superseded in its entirety by the information
provided in the final prospectus supplement, the prospectus and the Series
2000-D Supplement. The certificates will be issued under the Pooling and
Servicing Agreement dated as of December 1, 1993 as amended and restated as of
May 23, 1994 (and as further amended from time to time, the "Master Pooling and
Servicing Agreement") between the bank, as seller and as servicer and Bankers
Trust Company, as trustee, as supplemented by the Series 2000-D Supplement. The
Master Pooling and Servicing Agreement, together with the series supplement, is
the "Pooling and Servicing Agreement."
THE TRUST
Fleet Credit Card Master Trust II will issue the certificates.
The trust has issued numerous series of certificates, will issue the Series
2000-D certificates and expects to issue additional series. The certificates of
each series represent an ownership interest in the assets of the trust.
THE TRUSTEE
The trustee is Bankers Trust Company.
SELLER AND SERVICER
SELLER
Fleet Bank (RI), National Association originates and acquires credit card
accounts. As seller, the bank sells the receivables to the trust.
SERVICER
The bank also is the servicer. As servicer, the bank collects payments on the
receivables and allocates the collections among interests in the trust.
THE BANK
The bank is a special purpose credit card bank. Its principal offices are
located at 111 Westminster Street, Providence, Rhode Island 02903. The telephone
number is (401) 278-5451.
THE RECEIVABLES
The primary assets of the trust are receivables in VISA(R) and MasterCard(R)(1)
revolving credit card accounts. The receivables consist of principal receivables
and finance charge receivables.
OFFERED SECURITIES
The trust is offering $611,250,000 of the Class A certificates and $56,250,000
of the Class B certificates as part of Series 2000-D. The certificates represent
an interest in the assets of the trust.
- ---------------
(1) VISA(R) and MasterCard(R) are federally registered servicemarks of VISA
U.S.A., Inc. and MasterCard International, respectively.
The Class B Certificates are subordinated to the Class A Certificates.
DISTRIBUTION DATES
The first distribution date will be January 16, 2001.
Distribution dates for the Series 2000-D certificates will be the 15th day of
each month if the 15th day is a business day. If the 15th is not a business day,
the distribution date will be the following business day.
INTEREST
Interest on the Series 2000-D certificates will be paid on each distribution
date.
Class A
The Class A certificates will bear interest at one-month LIBOR as determined
each month plus % per annum.
Class B
The Class B certificates will bear interest at one-month LIBOR as determined
each month plus % per annum.
PRINCIPAL
The seller expects that principal on the Series 2000-D certificates will be
distributed on the November 2005 distribution date; however, principal may, in
fact, be distributed earlier or later.
If certain adverse events known as pay out events occur, principal may be
distributed earlier than expected.
If collections of the credit card receivables are less than expected or are
collected more slowly than expected, then principal repayment may be delayed.
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Class A
The seller expects that principal of the Class A certificates will be
distributed on the November 2005 distribution date.
Class B
The seller expects that principal of the Class B certificates will be
distributed on the November 2005 distribution date; however, no principal will
be paid on the Class B certificates unless the Class A certificates are paid in
full or a sufficient amount has been accumulated to pay the Class A certificates
in full.
Accumulation Period
The accumulation period for the certificates is scheduled to begin on February
1, 2005. The servicer may, however, elect to delay the beginning of the
accumulation period to a date not later than October 1, 2005.
Legal Final Maturity
If the Series 2000-D certificates are not paid on their expected final
distribution dates, collections of receivables will continue to be used to pay
principal on the Series 2000-D certificates until the certificates are paid or
until May 15, 2008, whichever occurs first. May 15, 2008 is the legal final
maturity date for Series 2000-D.
THE COLLATERAL INTEREST
At the same time as the Series 2000-D certificates are issued, the trust will
issue an undivided interest in the trust called a collateral interest in the
amount of $82,500,000 as part of Series 2000-D. The holder of the collateral
interest will have voting and certain other rights as if the collateral interest
were a subordinated class of certificates.
CREDIT ENHANCEMENT
SUBORDINATION OF CLASSES
The collateral interest and the Class B certificates are subordinated to the
Class A certificates.
The collateral interest is also subordinated to the Class B certificates.
THE SELLERS' INTEREST
The interest in the trust not represented by Series 2000-D or by any other
series is the sellers' interest. The sellers' interest is represented by the
seller certificates, including the bank certificate and any supplemental
certificates. The bank certificate is held by the bank. The bank may sell a
portion of the sellers' interest to other investors.
The sellers' interest does not provide credit enhancement for Series 2000-D or
any other series.
ALLOCATIONS
AMONG SERIES
Each month the bank, as servicer, will allocate collections received among:
- - Series 2000-D;
- - other outstanding series; and
- - the sellers' interest in the trust.
The amount allocated to Series 2000-D will be determined based mainly upon the
ratio of the invested amount of Series 2000-D to the total amount of principal
receivables in the trust.
You are entitled to receive payments of interest and principal only from
collections and other trust assets allocated to your series.
The invested amount is the primary basis for allocations to Series 2000-D. The
invested amount is the sum of the Class A invested amount, the Class B invested
amount and the collateral invested amount.
At the time of issuance of the Series 2000-D certificates, the invested amount
for Series 2000-D will be $750,000,000.
AMONG CLASSES
From the amounts allocated to your series, the servicer will further allocate
among the Class A certificates, the Class B certificates and the collateral
interest on the basis of the invested amount of each class and the invested
amount of the collateral interest.
TAX STATUS
Subject to important considerations described in the prospectus, Orrick,
Herrington & Sutcliffe LLP, as special tax counsel to the bank, is of the
opinion that under existing law the Series 2000-D Class A certificates and the
Series 2000-D Class B certificates will be characterized as debt for federal
income tax purposes. By your acceptance of a Series 2000-D certificate, you will
agree to treat your certificates as debt for federal, state and local income and
franchise tax purposes.
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OPTIONAL REPURCHASE
On any date occurring on or after the date that the Series 2000-D investor
amount is reduced to 5% of less of the initial Series 2000-D invested amount,
the seller will have the option to repurchase the Series 2000-D certificates.
Any optional repurchase may result in an early repayment of your investment
without any prepayment penalty.
ERISA CONSIDERATIONS
Subject to important considerations described in the prospectus supplement and
in the prospectus, the Class A certificates are eligible for purchase by persons
investing assets of employee benefit plans or individual retirement accounts.
For reasons discussed in the prospectus supplement and the prospectus, the Class
B certificates are not eligible for purchase by persons investing assets of
employee benefit plans or individual retirement accounts other than an insurance
company investing assets of its general account.
CERTIFICATE RATINGS
The Class A certificates will be rated in the highest rating category by at
least one nationally recognized rating organization and the Class B certificates
will be rated in one of the three highest rating categories by at least one
nationally recognized rating organization.
EXCHANGE LISTING
Fleet Credit Card Master Trust II will apply to list the Class A certificates
and the Class B certificates on the Luxembourg Stock Exchange. There is no
guaranty that the application for the listing will be accepted. You should
consult with Deutsche Bank Luxembourg S.A., the Luxembourg listing agent for the
certificates, 14 Boulevard F.D. Roosevelt, L-2450 Luxembourg, phone number (352)
46 02 41, to determine whether or not the Series 2000-D certificates are listed
on the Luxembourg Stock Exchange.
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THE BANK AND
THE BANK'S CREDIT CARD ACTIVITIES
GENERAL
Fleet Bank (RI), National Association (the "bank") is seller and servicer
with respect to the receivables. The bank is an indirect, wholly-owned
subsidiary of FleetBoston Financial Corporation ("Fleet"). Fleet is the bank
holding company which came into existence on October 1, 1999 as a result of the
merger of Fleet Financial Group, Inc. and BankBoston Corporation. Prior to the
merger of Fleet Financial Group, Inc. and the BankBoston Corporation, the bank
was an indirect wholly-owned subsidiary of Fleet Financial Group, Inc.
The receivables conveyed or to be conveyed to the trust by the bank
pursuant to the Pooling and Servicing Agreement have been or will be generated
from transactions made by holders of credit card accounts (the "Accounts")
selected from the Fleet Credit Card Portfolio. The Fleet Credit Card Portfolio
consists of accounts originated by the bank, accounts purchased from other
institutions and accounts acquired as a result of acquisitions of or mergers
with other financial institutions.
The bank is a member of VISA U.S.A., Inc. and MasterCard International.
FINANCE CHARGES
The majority of the accounts in the Fleet Credit Card Portfolio are subject
to finance charges at London interbank offered rate indexed variable rates
ranging from 0% to 26.9% for purchases, balance transfers and cash advances.
There is also a portion of the portfolio subject to finance charges set at a
fixed rate for purchases only.
DELINQUENCY AND LOSS EXPERIENCE
The following tables show the delinquency and loss experience for the Fleet
Credit Card Portfolio.
The accounts which have been designated to the trust and the receivables in
such accounts as of any date of determination constitute the trust portfolio.
The trust portfolio is only a portion of the Fleet Credit Card Portfolio;
therefore, actual delinquency and gross charge-off experience with respect to
the receivables in the trust may be different from that shown in the following
tables which include information for the entire Fleet Credit Card Portfolio.
There can be no assurance that the delinquency and loss experience for the
receivables in the trust will be similar to the historical experience shown in
the following tables.
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DELINQUENCY EXPERIENCE
FLEET CREDIT CARD PORTFOLIO
(DOLLARS IN THOUSANDS)
AS OF
SEPTEMBER 30, AS OF DECEMBER 31,
------------- -----------------------------------------
2000 1999 1998 1997
------------- ----------- ----------- -----------
Receivables Outstanding(1)(2)......... $14,193,968 $14,278,212 $14,524,541 $13,937,589
Receivables Contractually Delinquent
as a Percentage of Receivables
Outstanding(1):
30-59 days.......................... 1.47% 1.44% 1.58% 1.77%
60-89 days.......................... 1.07% 1.09% 1.07% 1.13%
90 or more days..................... 2.13% 2.35% 2.29% 2.39%
----------- ----------- ----------- -----------
Total....................... 4.67% 4.88% 4.94% 5.29%
=========== =========== =========== ===========
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(1) Information prior to February 20, 1998 is shown pro forma as if the bank had
purchased the Advanta consumer credit card portfolio as of the beginning of
1997. Receivables Outstanding and Receivables Contractually Delinquent
related to the credit card portfolio acquired by Fleet Financial Group, Inc.
as a result of the purchase of NatWest Bank, N.A. are included beginning in
June, 1997. Receivables Outstanding and Receivables Contractually Delinquent
related to the credit card portfolio acquired by Fleet as a result of the
merger of Fleet Financial Group, Inc. and BankBoston Corporation are
included as of March 31, 2000.
(2) Receivables Outstanding consists of all amounts due from cardholders as
posted to the accounts.
LOSS EXPERIENCE
FLEET CREDIT CARD PORTFOLIO
(DOLLARS IN THOUSANDS)
NINE MONTHS ENDED
SEPTEMBER 30, YEAR ENDED DECEMBER 31,
----------------- -------------------------------------------
2000 1999 1998 1997
----------------- ----------- ----------- -----------
Average Receivables
Outstanding(1)(2)........... $ 14,140,611 $13,065,414 $14,380,316 $13,950,913
Gross Losses(1)(3)............ $ 664,497 $ 967,611 $ 1,034,996 $ 1,052,527
Recoveries(1)................. $ 56,239 $ 75,883 $ 91,664 $ 84,439
Net Losses.................... $ 608,258 $ 891,728 $ 943,332 $ 968,088
Net Losses as a Percentage of
Average Receivables
Outstanding................. 5.74%(4)(5) 6.83%(4) 6.56%(4) 6.94%
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(1) Information prior to February 20, 1998 is shown pro forma as if the bank had
purchased the Advanta consumer credit card portfolio as of the beginning of
1997. Average Receivables Outstanding, Gross Losses and Recoveries related
to the credit card portfolio acquired by Fleet Financial Group, Inc. as a
result of the purchase of NatWest Bank, N.A. are included beginning in June,
1997. Average Receivables Outstanding, Gross Losses and Recoveries related
to the credit card portfolio acquired by Fleet as a result of the merger of
Fleet Financial Group, Inc. and BankBoston Corporation are included as of
March 31, 2000.
(2) Average Receivables Outstanding is the sum of receivables outstanding at the
beginning and end of each month during the period indicated, divided by
twice the number of months in the period indicated.
(3) Gross Losses are presented net of adjustments made pursuant to the bank's
normal servicing procedures, including removal of incorrect or disputed
finance charges and reversal of annual cardholder fees on cardholder
accounts which have been closed. Losses do not include accrued finance
charges that have been charged-off or fraud losses.
(4) As of October 1, 1998, the bank implemented a revised policy relating to the
charge-off of bankrupt credit card accounts and the charge-off of delinquent
accounts. The revisions will be described in the prospectus.
(5) Annualized.
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PAYMENT RATES
The following table shows the highest and lowest cardholder monthly payment
rates and the average cardholder monthly payment rates for the Fleet Credit Card
Portfolio. The rates are calculated as a percentage of the total opening monthly
account balances during the periods shown. Payments shown in the table include
amounts which would be deemed payments of principal receivables and finance
charge receivables on the accounts.
MONTHLY PAYMENT RATES
FLEET CREDIT CARD PORTFOLIO (1)
NINE MONTHS
ENDED
SEPTEMBER 30, YEAR ENDED DECEMBER 31,
------------- -----------------------
2000 1999 1998 1997
------------- ----- ----- -----
Lowest................................................ 11.12% 11.20% 10.84% 9.93%
Highest............................................... 12.93% 13.64% 12.36% 12.29%
Monthly Average....................................... 12.07% 12.06% 11.57% 11.09%
- ------------
(1) Information prior to February 20, 1998 is shown pro forma as if the bank had
purchased the Advanta consumer credit card portfolio as of the beginning of
1997. Collections related to the credit card portfolio acquired by Fleet
Financial Group, Inc. as a result of the purchase of NatWest Bank, N.A. are
included beginning in June, 1997. Collections related to the credit card
portfolio acquired by Fleet as a result of the merger of Fleet Financial
Group, Inc. and BankBoston Corporation are included as of March 31, 2000.
RECEIVABLE YIELD CONSIDERATIONS
The following table provides yield information for the nine months ended
September 30, 2000 and each of the years ended December 31, 1999, 1998 and 1997.
The historical yield figures in the table are calculated on an accrual
basis. Collections on the receivables in the trust will be on a cash basis and
may not reflect the historical yield experience in the table. For example,
during periods of increasing delinquencies accrual yields may exceed cash yields
as amounts collected on credit card receivables lag behind amounts accrued and
billed to cardholders. Conversely, as delinquencies decrease, cash yields may
exceed accrual yields as amounts collected in a current period may include
amounts accrued during prior periods. Yield on both an accrual and a cash basis
will be affected by numerous factors, including the finance charges on the
receivables in the trust, the amount of the annual cardholder fees and other
fees and charges, changes in the delinquency rate on the receivables in the
trust, the percentage of cardholders who pay their balances in full each month
and do not incur finance charges and any restrictions which may be imposed by
future legislation or regulations.
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There can be no assurance that the revenue from finance charges and fees
for the receivables in the trust, will be similar to the historical experience
set forth below.
REVENUE FROM FINANCE CHARGES AND FEES
FLEET CREDIT CARD PORTFOLIO
NINE MONTHS
ENDED
SEPTEMBER 30, YEAR ENDED DECEMBER 31,
------------- ------------------------------
2000 1999 1998 1997
------------- ------ ------ ------
Average Monthly Accrued Fees and
Charges(2)(3)(4)............................... $43.65 $42.76(6) $36.07(1) $36.99(1)
Average Account Balance(2)(5).................... $2,848 $2,699 $2,798 $2,783
Yield From Fees and Charges(3)(4)................ 18.39% 19.01%(6) 15.47%(1) 15.95%(1)
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(1) The amounts shown for the years ended December 31, 1998 and 1997 do not
include revenue attributed to interchange.
(2) Information prior to February 20, 1998 is shown pro forma as if the bank had
purchased the Advanta consumer credit card portfolio as of the beginning of
1997. Fees, charges and account balances related to the credit card
portfolio acquired by Fleet Financial Group, Inc. as a result of the
purchase of NatWest Bank, N.A. are included beginning in June, 1997. Fees,
charges and account balances related to the credit card portfolio acquired
by Fleet as a result of the merger of Fleet Financial Group, Inc. and
BankBoston Corporation are included as of March 31, 2000.
(3) Fees and Charges for each of the years ended December 31, 1997 and 1998 are
comprised of finance charges, annual cardholder fees and certain other
service charges. Fees and Charges for the nine-month period ended September
30, 2000 and for the year ended December 31, 1999 are comprised of finance
charges, annual cardholders fees and all other service charges plus revenue
attributed to interchange.
(4) Average Monthly Accrued Fees and Charges and Yield From Fees and Charges are
presented net of adjustments made pursuant to normal servicing procedures,
including removal of incorrect or disputed finance charges and reversal of
finance charges accrued on charged-off accounts.
(5) Average Account Balance includes purchases, cash advances and billed and
unpaid finance and other charges, and is calculated based on the average of
the opening monthly account balances for accounts with balances during the
periods shown.
(6) Beginning January 1, 1999 revenue from interchange and fees not previously
included have been included in fees and charges and in calculating the yield
from fees and charges. For the nine months ended September 30, 2000 and the
year ended December 31, 1999, if fees and charges had not included revenue
attributed to interchange and the additional fees, the Average Monthly
Accrued Fees and Charges would have been $37.38 and $36.84, respectively,
and the Yield From Fees and Charges would have been 15.75% and 16.38%,
respectively.
The yields shown in the above table are comprised of three components:
finance charges, annual cardholder fees and other service charges, such as late
charges. In addition, for the nine months ended September 30, 2000 and for the
year ended December 31, 1999, the yield includes interchange and fees not
previously included. The yield related to annual cardholder fees, on those
accounts that assess annual fees, and other service charges varies with the type
and volume of activity in and the balance of each account. The bank currently
assesses annual cardholder fees of $10 to $50 for certain of its credit card
accounts. Most accounts included in the Fleet Credit Card Portfolio and
originated since March 1987 do not carry an annual cardholder fee.
TRUST PORTFOLIO INFORMATION
The receivables in the initial accounts designated to the trust were
conveyed to the trust on December 3, 1993. Since that date, accounts have been
added to the trust from time to time. The additional accounts were selected from
the Advanta consumer credit card portfolio prior to February 20, 1998 and from
the Fleet Credit Card Portfolio on and after February 20, 1998.
As of the date of this series term sheet, the accounts from which the
receivables in the trust arise are the existing VISA and MasterCard accounts.
However, any new accounts designated to the trust are not required to be VISA or
MasterCard accounts.
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The receivables in the trust, including receivables in the additional
accounts the receivables of which have been or are expected to be conveyed to
the trust during the period from September 30, 2000 through the date of issuance
of the Series 2000-D certificates, as of September 30, 2000, totaled
$12,037,782,543 in 7,103,813 accounts. The accounts had an average credit limit
of $7,211. The percentage of the aggregate total receivables balance to the
aggregate total credit limit was 23.5%. The average age of the accounts was
approximately 45.4 months.
The receivables balance in the trust as of September 30, 2000, not
including receivables to be added to the trust thereafter, totaled
$11,406,540,646. The receivables balance in the trust as of October 29, 2000
totaled $11,091,179,679. As of October 29, 2000, the balance of receivables in
the trust which were 30 days or more contractually delinquent was $523,249,576.
The following tables summarize the trust portfolio by various criteria as
of the close of business on September 30, 2000, including receivables in the
additional accounts the receivables of which have been or are expected to be
conveyed to the trust during the period from September 30, 2000 through the date
of issuance of the Series 2000-D certificates. Because the future composition of
the trust portfolio may change over time, these tables are not necessarily
indicative of future results.
COMPOSITION BY ACCOUNT BALANCE
TRUST PORTFOLIO
PERCENTAGE
OF TOTAL PERCENTAGE
NUMBER OF NUMBER OF OF TOTAL
ACCOUNT BALANCE RANGE ACCOUNTS ACCOUNTS RECEIVABLES RECEIVABLES
- --------------------- --------- ---------- --------------- -----------
Credit Balance........................... 136,071 1.9% $ (11,201,651) (0.1)%
$0.00.................................... 3,250,917 45.8 0 0.0
$0.01 to $1,000.00....................... 1,098,523 15.5 379,055,365 3.2
$1,000.01 to 2,500.00.................... 709,762 10.0 1,218,685,925 10.1
$2,500.01 to 5,000.00.................... 995,043 14.0 3,687,174,806 30.6
$5,000.01 to 7,500.00.................... 551,047 7.7 3,368,985,317 28.0
Over $7,500.00........................... 362,450 5.1 3,395,082,781 28.2
--------- ----- --------------- -----
Total.......................... 7,103,813 100.0% $12,037,782,543 100.0%
========= ===== =============== =====
COMPOSITION BY CREDIT LIMIT
TRUST PORTFOLIO
PERCENTAGE
OF TOTAL PERCENTAGE
NUMBER OF NUMBER OF OF TOTAL
CREDIT LIMIT BALANCE ACCOUNTS ACCOUNTS RECEIVABLES RECEIVABLES
- -------------------- --------- ---------- --------------- -----------
$0.00 to $1,000.00....................... 78,379 1.1% $ 5,359,966 0.0%
$1,000.01 to 2,500.00.................... 369,048 5.2 272,326,493 2.3
$2,500.01 to 5,000.00.................... 1,667,409 23.5 1,960,869,580 16.3
$5,000.01 to 7,500.00.................... 2,041,313 28.7 2,895,754,458 24.1
Over $7,500.00........................... 2,947,664 41.5 6,903,472,046 57.3
--------- ----- --------------- -----
Total.......................... 7,103,813 100.0% $12,037,782,543 100.0%
========= ===== =============== =====
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COMPOSITION BY PERIOD OF DELINQUENCY
TRUST PORTFOLIO
PERCENTAGE
OF TOTAL PERCENTAGE
PERIOD OF DELINQUENCY NUMBER OF NUMBER OF OF TOTAL
(DAYS CONTRACTUALLY DELINQUENT) ACCOUNTS ACCOUNTS RECEIVABLES RECEIVABLES
- ------------------------------- --------- ---------- --------------- -----------
Not Delinquent........................... 6,855,093 96.5% $10,968,014,433 91.1%
1 to 29 days............................. 140,634 2.0 551,083,235 4.6
30 to 59 days............................ 38,374 0.5 166,022,742 1.4
60 to 89 days............................ 24,853 0.4 119,644,015 1.0
90 to 119 days........................... 16,401 0.2 82,521,863 0.7
120 to 149 days.......................... 13,986 0.2 71,462,461 0.6
150 to 179 days.......................... 10,448 0.1 54,527,520 0.4
180 or more.............................. 4,024 0.1 24,506,274 0.2
--------- ----- --------------- -----
Total.......................... 7,103,813 100.0% $12,037,782,543 100.0%
========= ===== =============== =====
COMPOSITION BY ACCOUNT AGE
TRUST PORTFOLIO
PERCENTAGE
OF TOTAL PERCENTAGE
NUMBER OF NUMBER OF OF TOTAL
AGE (IN MONTHS) ACCOUNTS ACCOUNTS RECEIVABLES RECEIVABLES
- --------------- --------- ---------- --------------- -----------
Not more than 6 Months................... 544,187 7.8% $ 1,673,534,791 13.9%
Over 6 to 12 Months...................... 839,355 11.8 1,956,660,429 16.3
Over 12 to 24 Months..................... 1,285,587 18.1 2,314,300,155 19.2
Over 24 to 36 Months..................... 1,549,702 21.8 1,580,102,328 13.1
Over 36 to 48 Months..................... 510,156 7.2 657,514,413 5.5
Over 48 to 60 Months..................... 656,115 9.2 1,035,227,143 8.6
Over 60 to 84 Months..................... 885,875 12.5 1,485,616,964 12.3
Over 84 Months........................... 822,836 11.6 1,334,826,320 11.1
--------- ----- --------------- -----
Total.......................... 7,103,813 100.0% $12,037,782,543 100.0%
========= ===== =============== =====
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GEOGRAPHIC DISTRIBUTION OF ACCOUNTS AND RECEIVABLES
TRUST PORTFOLIO(1)
PERCENTAGE
OF TOTAL PERCENTAGE
NUMBER OF NUMBER OF OF TOTAL
STATE ACCOUNTS ACCOUNTS RECEIVABLES RECEIVABLES
- ----- --------- ---------- --------------- -----------
California............................... 888,143 12.5% $ 1,428,497,997 11.9%
New York................................. 634,858 8.9 1,024,965,727 8.5
Texas.................................... 463,316 6.5 833,482,091 6.9
Florida.................................. 440,033 6.2 770,458,435 6.4
Pennsylvania............................. 314,048 4.4 505,842,622 4.2
Ohio..................................... 266,808 3.8 463,369,337 3.8
Massachusetts............................ 286,565 4.0 448,931,976 3.7
Illinois................................. 273,848 3.9 447,832,550 3.7
New Jersey............................... 283,616 4.0 440,653,515 3.7
Michigan................................. 219,739 3.1 382,719,936 3.2
All Other(2)............................. 3,032,839 42.7 5,291,028,357 44.0
--------- ----- --------------- -----
Total.......................... 7,103,813 100.0% $12,037,782,543 100.0%
========= ===== =============== =====
- ---------------
(1) All data as of September 30, 2000 including receivables then in the trust
and receivables in additional accounts to be added thereafter through the
date of issuance of the Series 2000-D certificates.
(2) No state or other jurisdiction is this category represented more than 3% of
the total number of accounts or more than 3% of the receivables.
10