Exhibit (k)
MONTHLY CERTIFICATEHOLDERS' STATEMENT
DISCOVER CARD MASTER TRUST I
Series 2002-3 Monthly Statement
Class A Certificate CUSIP # 25466KEA3
Class B Certificate CUSIP # 25466KEB1
Distribution Date: December 15, 2005 Month Ending: November 30, 2005
Pursuant to the Series Supplement dated as of May 29, 2002,
as amended, relating to the Amended and Restated Pooling and
Servicing Agreement dated as of November 3, 2004 by and
between Discover Bank and U.S. Bank National Association,
as Trustee, the Trustee is required to prepare certain
information each month regarding current distributions to
investors and the performance of the Trust. We have set
forth below this information for the Distribution Date listed
above, as well as for the calendar month ended on the date
listed above.
1.Payments to investors in Series 2002-3 on this Distribution Date (per $1000
of Class Initial Investor Interest)
Series 2002-3 Total Interest Principal
Class A 30 days at 4.2250000% $3.520833333 $3.520833333 $0.000000000
Class B 30 days at 4.5250000% $3.770833245 $3.770833245 $0.000000000
2.Principal Receivables at the end of November, 2005
(a) Aggregate Investor Interest $23,528,409,000.00
Seller Interest $9,173,028,832.69
Total Master Trust $32,701,437,832.69
(b) Group One Investor Interest $23,528,409,000.00
(c) Group One Investor Interest for
Interchange Series $8,557,898,000.00
(d) Series 2002-3 Investor Interest $947,369,000.00
(e) Class A Investor Interest $900,000,000.00
Class B Investor Interest $47,369,000.00
3.Allocation of Receivables and other amounts collected
during November, 2005
Finance Charge Principal
Collections Collections Interchange
(a) Allocation between Investors and Seller:
Aggregate Investor Allocation$324,791,105.92 $4,380,090,482.50 $23,468,452.26
Seller Allocation $121,845,013.12 $1,643,185,950.54 $65,259,155.42
(b) Group One Allocation $324,791,105.92 $4,380,090,482.50 $23,468,452.26
(c) Series 2002-3 Allocation $13,077,505.56 $176,361,533.96 $0.00
(d) Class A Allocation $12,423,630.28 $167,543,457.26 $0.00
Class B Allocation $653,875.28 $8,818,076.70 $0.00
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(e) Principal Collections as a monthly percentage of Master
Trust Receivables at the beginning of November, 2005 18.38%
(f) Finance Charge Collections as a monthly percentage of Master
Trust Receivables at the beginning of November, 2005 1.36%
(g) Total Collections as a monthly percentage of Master
Trust Receivables at the beginning of November, 2005 19.74%
4. Information Concerning the Series Principal Funding Account ("SPFA")
Deposits into the Deficit Amount
SPFA on this on this SPFA Investment
Distribution Date Distribution Date Balance Income
Series 2002-3 $0.00 $0.00 $0.00 $0.00
5. Information Concerning Amount of Controlled Liquidation Payments
Amount Paid on Deficit Amount on Total Payments
this this through this
Distribution Date Distribution Date Distribution Date
Series 2002-3 $0.00 $0.00 $0.00
6. Information Concerning the Series Interest Funding Account ("SIFA")
Deposits into the SIFA SIFA
on this Distribution Date Balance
Series 2002-3 $3,347,370.60 $0.00
7. Pool Factors for November, 2005
Class A 1.00000000
Class B 1.00000000
8.Investor Charged-Off Amount
Cumulative Investor
November, 2005 Charged-Off Amount
(a) Group One $152,318,866.12 $0.00
(b) Series 2002-3 $6,133,021.45 $0.00
(c) Class A $5,826,370.38 $0.00
Class B $306,651.07 $0.00
(d) As an annualized percentage of
Principal Receivables at the
beginning of November, 2005 7.77% N/A
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9.Investor Losses for November, 2005
Per $1,000 of Initial
Total Series Investor Interest
(a) Group One $0.00 $0.00
(b) Series 2002-3 $0.00 $0.00
(c) Class A $0.00 $0.00
Class B $0.00 $0.00
10. Reimbursement of Investor Losses for November, 2005
Per $1,000 of Initial
Total Series Investor Interest
(a) Group One $0.00 $0.00
(b) Series 2002-3 $0.00 $0.00
(c) Class A $0.00 $0.00
Class B $0.00 $0.00
11. Aggregate Amount of Unreimbursed Investor Losses for November, 2005
Per $1,000 of Initial
Total Series Investor Interest
(a) Group One $0.00 $0.00
(b) Series 2002-3 $0.00 $0.00
(c) Class A $0.00 $0.00
Class B $0.00 $0.00
12. Investor Monthly Servicing Fee payable on this Distribution Date
(a) Group One $39,214,014.98
(b) Series 2002-3 $1,578,948.33
(c) Class A $1,500,000.00
Class B $78,948.33
13. Class Available Subordinated Amount on this Distribution Date
As a Perecentage of
Total Class A Invested Amount
Series 2002-3, Class B $118,421,125.00 13.1579%
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14. Total Available Credit Enhancement Amounts
Shared Amount Class B Amount
(a) Maximum Amount on this Distribution Date $0.00 $71,052,675.00
(b) Available Amount on this Distribution Date $0.00 $71,052,675.00
(c) Amount of unreimbursed Drawings on Credit
Enhancement on this Distribution Date $0.00 $0.00
(d) Credit Enhancement Fee on this Distribution Date $56,922.22
15. Delinquency Summary
Master Trust Receivables Outstanding at the end of
November, 2005 $33,115,251,541.23
Delinquent Amount Perecentage of Ending
Payment Status Ending Balance Receivables Outstanding
30-59 Days $468,229,650.76 1.41%
60-179 Days $933,130,946.00 2.82%
(1)
16. Excess Spread Percentages on this Distribution Date
(2)
(a) Group One 2.57%
(3)
(b) Series 2002-3 2.48%
17. Net Principal Charge-Off Percentage on this
Distribution Date (4)
Charge-offs net of recoveries as an annualized percentage of
Principal Receivables at the beginning of November, 2005 6.80%
U.S. Bank National Association
as Trustee
BY:______________________________
Vice President
_____________________________________
(1) Investors should refer only to the higher of the Group
Excess Spread Percentage (Item 16(a)) and the Series Excess
Spread Percentage (Item 16(b)) in assessing the current
performance of the Trust and the Receivables. If necessary,
the Trust will use funds available from series or subseries
with positive Series Excess Spreads to cover expenses (as
detailed in note 3 below) for series or subseries, if any,
with negative Series Excess Spreads.
(2) Group Excess Spread is the sum of the Series Excess Spreads
for each series, including each subseries, in the Group. The
Group Excess Spread Percentage is equal to the Group Excess
Spread, multiplied by twelve, divided by the Series Investor
Interests at the beginning of the period for each series,
including each subseries, in the Group.
(3) Series Excess Spread for this Series is the difference
between (a) the sum of Finance Charge Collections, Yield
Collections, Additional Funds and Investment Income for any
Class of this Series (see Item 3(c)), and (b) the sum of
(i) the monthly interest for this Series (see 'Deposits into
the SIFA on this Distribution Date' in Item 6), (ii) the
monthly servicing fee for this Series (see Item 12(b)),
(iii) the Investor Charged-Off Amount(see Item 8(b)), and
(iv) the Credit Enhancement Fee (see Item 14(d)), in each
case for this Distribution Date. For purposes of determining
Group Excess Spread, Series Excess Spread is the amount
calculated as described above minus the amount of any payment
by the Trust under the Trust's subordinated interest rate
swap for this series. The Series Excess Spread Percentage is
equal to the Series Excess Spread, multiplied by twelve,
divided by the Series Investor Interest for this Series at
the beginning of the period.
(4) For purposes of allocations to investors, all
recoveries are treated as Finance Charge Collections
and are included as such in Item 3.
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MASTER SERVICER'S CERTIFICATE STATEMENT
DISCOVER CARD MASTER TRUST I
Series 2002-3 Monthly Statement
CREDIT CARD
PASS-THROUGH CERTIFICATES
The undersigned, a duly authorized representative of Discover Bank,
as Master Servicer pursuant to the Amended and Restated Pooling &
Servicing Agreement dated as of November 3, 2004 (the 'Pooling &
Servicing Agreement') and the Series Supplement, dated as of
May 29, 2002, as amended (the 'Series Supplement') by and between
Discover Bank and U.S. Bank National Association, as Trustee, does
hereby certify as follows with respect to the Series Supplement for the
Discover Card Master Trust I, Series 2002-3 Master Trust
Certificates for the Distribution Date occurring on December 15, 2005:
1. Discover Bank is Master Servicer under the Pooling
and Servicing Agreement.
2. The undersigned is a Servicing Officer of Discover Bank as
Master Servicer.
3. The aggregate amount of Collections processed during
November, 2005 is equal to $6,469,912,552.08
4. The aggregate amount of Class A Principal Collections
processed during November, 2005 is equal to $167,543,457.26
5. The aggregate amount of Class A Finance Charge Collections
processed during November, 2005 is equal to $12,423,630.28
6. The aggregate amount of Class A Interchange processed
during November, 2005 is equal to $0.00
7. (a) The aggregate amount of Class A Principal Collections
recharacterized as Series Yield Collections during
November, 2005 is equal to $0.00
(b) The aggregate amount of Class A Additional Funds for
this Distribution date is equal to $0.00
8. The amount of drawings under the Credit Enhancement
required to be made and not immediately reimbursed on
the related Drawing Date pursuant to the Series
Supplement:
(a) with respect to the Class A Required Amount Shortfall
is equal to $0.00
(b) with respect to the Class A Cumulative Investor
Charged-Off Amount is equal to $0.00
(c) with respect to the Class A Investor Interest is equal to $0.00
9. The sum of all amounts payable to the Class A Certificateholders
on the current Distribution Date is equal to $3,168,750.00
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10.The aggregate amount of Class B Principal Collections
processed during November, 2005 is equal to $8,818,076.70
11.The aggregate amount of Class B Finance Charge Collections
processed during November, 2005 is equal to $653,875.28
12.The aggregate amount of Class B Interchange processed
during November, 2005 is equal to $0.00
13.(a) The aggregate amount of Class B Principal Collections
recharacterized as Series Yield Collections during
November, 2005 is equal to $0.00
(b) The aggregate amount of Class B Additional Funds for
this Distribution date is equal to $0.00
14.The amount of drawings under the Credit Enhancement
required to be made and not immediately reimbursed on
the related Drawing Date pursuant to the Series
Supplement:
(a) with respect to the Class B Required Amount Shortfall
is equal to $0.00
(b) with respect to the Class B Cumulative Investor
Charged-Off Amount is equal to $0.00
(c) with respect to the Class B Investor Interest is equal to $0.00
15.The sum of all amounts payable to the Class B Certificateholders
on the current Distribution Date is equal to $178,620.60
16. Attached hereto is a true copy of the statement required to be delivered
by the Master Servicer on the date of this Certificate to the Trustee
pursuant to the section entitled Master Servicer's Monthly Certificate
of the Series Supplement.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
certificate this 7th day of December, 2005.
Series 2002-3 DISCOVER BANK
as Master Servicer
By: /S/ Michael F. Rickert
___________________________________
Vice President, Chief Accounting
Officer, and Treasurer
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