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
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Beginning of the Month Principal Receivables: $3,147,935,537.87
Beginning of the Month Finance Charge Receivables: $159,056,585.18
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $3,306,992,123.05
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: $3,098,024,749.89
End of the Month Finance Charge Receivables: $162,066,884.47
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $3,260,091,634.36
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 $798,024,749.89
End of the Month Transferor Percentage 25.76%
DELINQUENCIES AND LOSSES
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End of the Month Delinquencies:
30-59 Days Delinquent $71,034,071.60
60-89 Days Delinquent $51,528,237.57
90+ Days Delinquent $98,213,413.52
Total 30+ Days Delinquent $220,775,722.69
Delinquent Percentage 6.77%
Defaulted Accounts During the Month $23,244,740.95
Annualized Default Percentage 8.86%
Jun-2001 1996-A Page 2
Principal Collections $384,867,091.80
Principal Payment Rate 12.23%
Total Payment Rate 13.03%
INVESTED AMOUNTS
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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 14.30%
PRINCIPAL ALLOCATION PERCENTAGE 14.30%
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 $55,017,070.45
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-A $6,559,576.39
MONTHLY SERVICING FEE $562,500.00
INVESTOR DEFAULT AMOUNT $3,322,855.04
Jun-2001 1996-A Page 3
CLASS A AVAILABLE FUNDS
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CLASS A FLOATING ALLOCATION PERCENTAGE 82.00%
Class A Finance Charge Collections $5,840,102.64
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $5,840,102.64
Class A Monthly Interest $1,312,307.50
Class A Servicing Fee $461,250.00
Class A Investor Default Amount $2,724,741.13
TOTAL CLASS A EXCESS SPREAD $1,341,804.01
REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
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CLASS B FLOATING ALLOCATION PERCENTAGE 8.50%
Class B Finance Charge Collections $605,376.49
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $605,376.49
Class B Monthly Interest $143,442.81
Class B Servicing Fee $47,812.50
TOTAL CLASS B EXCESS SPREAD $414,121.18
CLASS B INVESTOR DEFAULT AMOUNT $282,442.68
CLASS B REQUIRED AMOUNT $282,442.68
CLASS C FLOATING ALLOCATION PERCENTAGE 9.50%
Jun-2001 1996-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $2,379,084.95
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 $282,442.68
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $498,997.48
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 $1,503,894.79
Jun-2001 1996-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
- --------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $7,803,152.65
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
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Base Rate (Current Month) 6.23%
Base Rate (Prior Month) 6.37%
Base Rate (Two Months Ago) 7.27%
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THREE MONTH AVERAGE BASE RATE 6.62%
Portfolio Yield (Current Month) 10.13%
Portfolio Yield (Prior Month) 11.07%
Portfolio Yield (Two Months Ago) 11.84%
---------
THREE MONTH AVERAGE PORTFOLIO YIELD 11.01%
Jun-2001 1996-A Page 6
PRINCIPAL COLLECTIONS
- ---------------------
TOTAL PRINCIPAL COLLECTIONS $55,017,070.45
INVESTOR DEFAULT AMOUNT $3,322,855.04
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 $58,339,925.49
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 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
By: /s/ Tracie H. Klein
-----------------------------
Tracie H. Klein
First Vice President