Apr-2001 1998-A Page 1
EXHIBIT 99.11
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1998-A
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
RECEIVABLES
- -----------
Beginning of the Month Principal Receivables: $3,277,529,803.74
Beginning of the Month Finance Charge Receivables: $168,936,873.89
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $3,446,466,677.63
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: $3,208,790,692.40
End of the Month Finance Charge Receivables: $163,530,104.34
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $3,372,320,796.74
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 $908,790,692.40
End of the Month Transferor Percentage 28.32%
DELINQUENCIES AND LOSSES
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End of the Month Delinquencies:
30-59 Days Delinquent $71,956,107.91
60-89 Days Delinquent $53,449,480.03
90+ Days Delinquent $111,518,817.62
Total 30+ Days Delinquent $236,924,405.56
Delinquent Percentage 7.03%
Defaulted Accounts During the Month $24,148,077.78
Annualized Default Percentage 8.84%
Apr-2001 1998-A Page 2
Principal Collections $414,448,953.98
Principal Payment Rate 12.65%
Total Payment Rate 13.54%
INVESTED AMOUNTS
- ----------------
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
---------------
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 18.31%
PRINCIPAL ALLOCATION PERCENTAGE 18.31%
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 $75,870,972.11
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1998-A $9,588,428.75
MONTHLY SERVICING FEE $750,000.00
INVESTOR DEFAULT AMOUNT $4,420,660.53
Apr-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 $8,063,974.42
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $8,063,974.42
Class A Monthly Interest $1,950,032.50
Class A Servicing Fee $585,000.00
Class A Investor Default Amount $3,448,115.22
TOTAL CLASS A EXCESS SPREAD $2,080,826.70
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
- -----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $1,240,611.46
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $1,240,611.46
Class B Monthly Interest $314,505.00
Class B Servicing Fee $90,000.00
TOTAL CLASS B EXCESS SPREAD $836,106.46
CLASS B INVESTOR DEFAULT AMOUNT $530,479.26
CLASS B REQUIRED AMOUNT $530,479.26
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE $75,000.00
Apr-2001 1998-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $3,875,776.03
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 $530,479.26
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $733,153.55
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 $2,487,143.22
Apr-2001 1998-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
- --------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $9,684,699.31
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) 7.29%
Base Rate (Prior Month) 7.43%
Base Rate (Two Months Ago) 7.83%
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THREE MONTH AVERAGE BASE RATE 7.52%
Portfolio Yield (Current Month) 11.84%
Portfolio Yield (Prior Month) 13.09%
Portfolio Yield (Two Months Ago) 9.94%
------
THREE MONTH AVERAGE PORTFOLIO YIELD 11.62%
Apr-2001 1998-A Page 6
PRINCIPAL COLLECTIONS
- ---------------------
TOTAL PRINCIPAL COLLECTIONS $75,870,972.11
INVESTOR DEFAULT AMOUNT $4,420,660.53
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 $80,291,632.64
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 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