EXHIBIT 99.10
Jan-2001 1998-A Page 1
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1998-A
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
RECEIVABLES
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Beginning of the Month Principal Receivables: $3,512,448,473.12
Beginning of the Month Finance Charge Receivables: $ 174,535,982.97
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $3,686,984,456.09
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 0.00
Additional Finance Charge Receivables: $ 0.00
Additional Total Receivables: $ 0.00
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $3,417,370,236.31
End of the Month Finance Charge Receivables: $ 174,608,577.11
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $3,591,978,813.42
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $2,300,000,000.00
End of the Month Transferor Amount $1,117,370,236.31
End of the Month Transferor Percentage 32.70%
DELINQUENCIES AND LOSSES
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End of the Month Delinquencies:
30-59 Days Delinquent $ 83,634,689.18
60-89 Days Delinquent $ 62,753,085.90
90+ Days Delinquent $ 121,883,424.41
Total 30+ Days Delinquent $ 268,271,199.49
Delinquent Percentage 7.47%
Defaulted Accounts During the Month $ 22,890,721.14
Annualized Default Percentage 7.82%
Jan-2001 1998-A Page 2
Principal Collections $448,049,912.53
Principal Payment Rate 12.76%
Total Payment Rate 13.67%
INVESTED AMOUNTS
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Class A Initial Invested Amount $370,500,000.00
Class B Initial Invested Amount $ 57,000,000.00
Class C Initial Invested Amount $ 47,500,000.00
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INITIAL INVESTED AMOUNT $475,000,000.00
Class A Invested Amount $468,000,000.00
Class B Invested Amount $ 72,000,000.00
Class C Invested Amount $ 60,000,000.00
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INVESTED AMOUNT $600,000,000.00
Class A Adjusted Invested Amount $468,000,000.00
Class B Adjusted Invested Amount $ 72,000,000.00
Class C Adjusted Invested Amount $ 60,000,000.00
---------------
ADJUSTED INVESTED AMOUNT $600,000,000.00
PREFUNDED AMOUNT $ 0.00
FLOATING ALLOCATION PERCENTAGE 17.08%
PRINCIPAL ALLOCATION PERCENTAGE 17.08%
Class A Principal Allocation Percentage 78.00%
Class B Principal Allocation Percentage 12.00%
Class C Principal Allocation Percentage 10.00%
COLLECTIONS OF PRINCIPAL RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED
TO SERIES 1998-A $ 76,536,339.11
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1998-A $ 9,563,674.12
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 3,910,216.14
Jan-2001 1998-A Page 3
CLASS A AVAILABLE FUNDS
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CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $8,044,665.82
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $8,044,665.82
Class A Monthly Interest $2,351,945.70
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $3,049,968.59
TOTAL CLASS A EXCESS SPREAD $2,057,751.53
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
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CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $1,237,640.89
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $1,237,640.89
Class B Monthly Interest $ 376,837.80
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 770,803.09
CLASS B INVESTOR DEFAULT AMOUNT $ 469,225.94
CLASS B REQUIRED AMOUNT $ 469,225.94
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE $ 75,000.00
Jan-2001 1998-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $3,784,922.03
Excess Spread Applied to Class A Required Amount $ 0.00
Excess Spread Applied to Class A Investor Charge Offs $ 0.00
Excess Spread Applied to Class B Required Amount $ 469,225.94
Excess Spread Applied to Reductions of Class B
Invested Amount $ 0.00
Excess Spread Applied to Class C Required Amount $ 735,053.11
Excess Spread Applied to Reductions of Class C
Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash Collateral Fee $ 125,000.00
Excess Spread Applied to Cash Collateral Account $ 0.00
Excess Spread Applied to Spread Account $ 0.00
Excess Spread Applied to Reserve Account $ 0.00
Excess Spread Applied to other amounts owed to
Cash Collateral Depositor $ 0.00
Excess Spread Applied to other amounts owed to
Spread Account Residual Interest Holders $ 0.00
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR
GROUP I $2,455,642.98
Jan-2001 1998-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
- --------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $9,561,492.27
SERIES 1998-A EXCESS FINANCE CHARGE COLLECTIONS
- -----------------------------------------------
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO
SERIES 1998-A $ 0.00
Excess Finance Charge Collections applied to
Class A Required Amount $ 0.00
Excess Finance Charge Collections applied to
Class A Investor Charge Offs $ 0.00
Excess Finance Charge Collections applied to
Class B Required Amount $ 0.00
Excess Finance Charge Collections applied to
Reductions of Class B Invested Amount $ 0.00
Excess Finance Charge Collections applied to
Class C Required Amount $ 0.00
Excess Finance Charge Collections applied to
Reductions of Class C Invested Amount $ 0.00
Excess Finance Charge Collections applied to
Monthly Cash Collateral Fee $ 0.00
Excess Finance Charge Collections applied to
other amounts owed Cash Collateral Depositor $ 0.00
Excess Finance Charge Collections applied to
other amounts owed to Spread Account
Residual Interest Holders $ 0.00
YIELD AND BASE RATE
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Base Rate (Current Month) 8.15%
Base Rate (Prior Month) 8.98%
Base Rate (Two Months Ago) 8.89%
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THREE MONTH AVERAGE BASE RATE 8.67%
Portfolio Yield (Current Month) 12.81%
Portfolio Yield (Prior Month) 12.49%
Portfolio Yield (Two Months Ago) 12.43%
------
THREE MONTH AVERAGE PORTFOLIO YIELD 12.57%
Jan-2001 1998-A Page 6
PRINCIPAL COLLECTIONS
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TOTAL PRINCIPAL COLLECTIONS $76,536,339.11
INVESTOR DEFAULT AMOUNT $ 3,910,216.14
REALLOCATED PRINCIPAL COLLECTIONS
Allocable to Class C Interests $ 0.00
Allocable to Class B Certficates $ 0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE
FROM OTHER SERIES $ 0.00
CLASS A SCHEDULED ACCUMULATION --
Controlled Accumulation Amount $ 0.00
Deficit Controlled Accumulation Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
CLASS B SCHEDULED ACCUMULATION --
Controlled Accumulation Amount $ 0.00
Deficit Controlled Accumulation Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR
PRINCIPAL SHARING $80,446,555.25
INVESTOR CHARGE OFFS
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CLASS A INVESTOR CHARGE OFFS $ 0.00
CLASS B INVESTOR CHARGE OFFS $ 0.00
CLASS C INVESTOR CHARGE OFFS $ 0.00
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $ 0.00
PREVIOUS CLASS B REDUCTIONS REIMBURSED $ 0.00
PREVIOUS CLASS C REDUCTIONS REIMBURSED $ 0.00
CASH COLLATERAL ACCOUNT
Required Cash Collateral Amount $18,000,000.00
Available Cash Collateral Amount $18,000,000.00
TOTAL DRAW AMOUNT $ 0.00
CASH COLLATERAL ACCOUNT SURPLUS $ 0.00
First USA Bank, National Association
as Servicer
By: /s/ Tracie Klein
------------------------------
Tracie H. Klein
First Vice President