EXHIBIT 99.7
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1996-A
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
RECEIVABLES
-----------
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
------------------------
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 1996-A Page 2
Principal Collections $427,590,446.16
Principal Payment Rate 12.73%
Total Payment Rate 13.69%
INVESTED AMOUNTS
----------------
Class A Initial Invested Amount $369,000,000.00
Class B Initial Invested Amount $38,250,000.00
Class C Initial Invested Amount $42,750,000.00
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INITIAL INVESTED AMOUNT $450,000,000.00
Class A Invested Amount $369,000,000.00
Class B Invested Amount $38,250,000.00
Class C Invested Amount $42,750,000.00
---------------
INVESTED AMOUNT $450,000,000.00
Class A Adjusted Invested Amount $369,000,000.00
Class B Adjusted Invested Amount $38,250,000.00
Class C Adjusted Invested Amount $42,750,000.00
---------------
ADJUSTED INVESTED AMOUNT $450,000,000.00
PREFUNDED AMOUNT $0.00
FLOATING ALLOCATION PERCENTAGE 13.39%
PRINCIPAL ALLOCATION PERCENTAGE 13.39%
Class A Principal Allocation Percentage 82.00%
Class B Principal Allocation Percentage 8.50%
Class C Principal Allocation Percentage 9.50%
COLLECTIONS OF PRINCIPAL RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED
TO SERIES 1996-A $57,269,973.34
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-A $7,581,718.60
MONTHLY SERVICING FEE $562,500.00
INVESTOR DEFAULT AMOUNT $3,235,042.92
Mar-2001 1996-A Page 3
CLASS A AVAILABLE FUNDS
-----------------------
CLASS A FLOATING ALLOCATION PERCENTAGE 82.00%
Class A Finance Charge Collections $6,678,259.25
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $6,678,259.25
Class A Monthly Interest $1,742,910.00
Class A Servicing Fee $461,250.00
Class A Investor Default Amount $2,652,735.19
TOTAL CLASS A EXCESS SPREAD $1,821,364.06
REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
-----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 8.50%
Class B Finance Charge Collections $692,258.58
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $692,258.58
Class B Monthly Interest $188,317.50
Class B Servicing Fee $47,812.50
TOTAL CLASS B EXCESS SPREAD $456,128.58
CLASS B INVESTOR DEFAULT AMOUNT $274,978.65
CLASS B REQUIRED AMOUNT $274,978.65
CLASS C FLOATING ALLOCATION PERCENTAGE 9.50%
Mar-2001 1996-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $2,997,755.91
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 $274,978.65
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $541,551.58
Excess Spread Applied to Reductions of Class C
Invested Amount $0.00
Excess Spread Applied to Monthly Cash Collateral Fee $93,750.00
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 $2,087,475.68
Mar-2001 1996-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 1996-A EXCESS FINANCE CHARGE COLLECTIONS
-----------------------------------------------
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO
SERIES 1996-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) 7.41%
Base Rate (Prior Month) 7.82%
Base Rate (Two Months Ago) 8.13%
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THREE MONTH AVERAGE BASE RATE 7.79%
Portfolio Yield (Current Month) 13.09%
Portfolio Yield (Prior Month) 9.94%
Portfolio Yield (Two Months Ago) 12.81%
------
THREE MONTH AVERAGE PORTFOLIO YIELD 11.95%
Mar-2001 1996-A Page 6
PRINCIPAL COLLECTIONS
---------------------
TOTAL PRINCIPAL COLLECTIONS $57,269,973.34
INVESTOR DEFAULT AMOUNT $3,235,042.92
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 $60,505,016.26
INVESTOR CHARGE OFFS
--------------------
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 CHARGE OFFS REIMBURSED $0.00
PREVIOUS CLASS C CHARGE OFFS REIMBURSED $0.00
CASH COLLATERAL ACCOUNT
Required Cash Collateral Amount $13,500,000.00
Available Cash Collateral Amount $13,500,000.00
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