EXHIBIT 99.11
Jul-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: $3,098,024,749.89
Beginning of the Month Finance Charge Receivables: $162,066,884.47
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $3,260,091,634.36
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: $3,024,287,762.59
End of the Month Finance Charge Receivables: $158,594,189.53
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $3,182,881,952.12
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 $724,287,762.59
End of the Month Transferor Percentage 23.95%
DELINQUENCIES AND LOSSES
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End of the Month Delinquencies:
30-59 Days Delinquent $68,778,881.00
60-89 Days Delinquent $48,978,616.74
90+ Days Delinquent $93,509,301.68
Total 30+ Days Delinquent $211,266,799.42
Delinquent Percentage 6.64%
Defaulted Accounts During the Month $25,369,964.00
Annualized Default Percentage 9.83%
Jul-2001 1998-A Page 2
Principal Collections $415,771,399.34
Principal Payment Rate 13.42%
Total Payment Rate 14.30%
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 19.37%
PRINCIPAL ALLOCATION PERCENTAGE 19.37%
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 $80,523,191.29
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1998-A $9,755,496.77
MONTHLY SERVICING FEE $750,000.00
INVESTOR DEFAULT AMOUNT $4,913,446.34
Jul-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 $8,194,287.49
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $8,194,287.49
Class A Monthly Interest $1,552,200.00
Class A Servicing Fee $585,000.00
Class A Investor Default Amount $3,832,488.15
TOTAL CLASS A EXCESS SPREAD $2,224,599.34
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 $1,260,659.61
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $1,260,659.61
Class B Monthly Interest $253,800.00
Class B Servicing Fee $90,000.00
TOTAL CLASS B EXCESS SPREAD $916,859.61
CLASS B INVESTOR DEFAULT AMOUNT $589,613.56
CLASS B REQUIRED AMOUNT $589,613.56
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE $75,000.00
Jul-2001 1998-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $4,117,008.62
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 $589,613.56
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $732,844.63
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 $2,669,550.43
Jul-2001 1998-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
- --------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $10,381,471.68
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) 6.10%
Base Rate (Prior Month) 6.25%
Base Rate (Two Months Ago) 6.39%
----
THREE MONTH AVERAGE BASE RATE 6.24%
Portfolio Yield (Current Month) 11.18%
Portfolio Yield (Prior Month) 10.13%
Portfolio Yield (Two Months Ago) 11.07%
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THREE MONTH AVERAGE PORTFOLIO YIELD 10.79%
Jul-2001 1998-A Page 6
PRINCIPAL COLLECTIONS
- ---------------------
TOTAL PRINCIPAL COLLECTIONS $80,523,191.29
INVESTOR DEFAULT AMOUNT $4,913,446.34
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 $85,436,637.63
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