EXHIBIT 99.11
Mar-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: $3,359,800,772.00
Beginning of the Month Finance Charge Receivables: $176,434,172.53
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $3,536,234,944.53
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: $3,277,529,803.74
End of the Month Finance Charge Receivables: $168,936,873.89
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $3,446,466,677.63
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 $977,529,803.74
End of the Month Transferor Percentage 29.83%
DELINQUENCIES AND LOSSES
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End of the Month Delinquencies:
30-59 Days Delinquent $74,460,386.09
60-89 Days Delinquent $55,931,288.47
90+ Days Delinquent $115,479,813.27
Total 30+ Days Delinquent $245,871,487.83
Delinquent Percentage 7.13%
Defaulted Accounts During the Month $24,153,554.89
Annualized Default Percentage 8.63%
Mar-2001 1998-A Page 2
Principal Collections $427,590,446.16
Principal Payment Rate 12.73%
Total Payment Rate 13.69%
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
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ADJUSTED INVESTED AMOUNT $600,000,000.00
PREFUNDED AMOUNT $0.00
FLOATING ALLOCATION PERCENTAGE 17.86%
PRINCIPAL ALLOCATION PERCENTAGE 17.86%
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 $76,359,964.54
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1998-A $10,108,958.14
MONTHLY SERVICING FEE $750,000.00
INVESTOR DEFAULT AMOUNT $4,313,390.56
Mar-2001 1998-A Page 3
CLASS A AVAILABLE FUNDS
-----------------------
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $8,469,987.34
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $8,469,987.34
Class A Monthly Interest $2,210,520.00
Class A Servicing Fee $585,000.00
Class A Investor Default Amount $3,364,444.63
TOTAL CLASS A EXCESS SPREAD $2,310,022.71
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
-----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $1,303,074.99
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $1,303,074.99
Class B Monthly Interest $356,080.00
Class B Servicing Fee $90,000.00
TOTAL CLASS B EXCESS SPREAD $856,994.99
CLASS B INVESTOR DEFAULT AMOUNT $517,606.87
CLASS B REQUIRED AMOUNT $517,606.87
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE $75,000.00
Mar-2001 1998-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $4,177,913.51
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 $517,606.87
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $760,072.39
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 $2,775,234.25
Mar-2001 1998-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
--------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $10,784,023.87
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
-------------------
Base Rate (Current Month) 7.43%
Base Rate (Prior Month) 7.83%
Base Rate (Two Months Ago) 8.15%
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THREE MONTH AVERAGE BASE RATE 7.80%
Portfolio Yield (Current Month) 13.09%
Portfolio Yield (Prior Month) 9.94%
Portfolio Yield (Two Months Ago) 12.81%
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THREE MONTH AVERAGE PORTFOLIO YIELD 11.95%
Mar-2001 1998-A Page 6
PRINCIPAL COLLECTIONS
---------------------
TOTAL PRINCIPAL COLLECTIONS $76,359,964.54
INVESTOR DEFAULT AMOUNT $4,313,390.56
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 $80,673,355.10
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
/s/ Tracie H. Klein
By: ______________________________
Tracie H. Klein
First Vice President