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: $3,024,287,762.59
Beginning of the Month Finance Charge Receivables: $158,594,189.53
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $3,182,881,952.12
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: $2,930,612,861.53
End of the Month Finance Charge Receivables: $154,076,978.70
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $3,084,689,840.23
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 $630,612,861.53
End of the Month Transferor Percentage 21.52%
DELINQUENCIES AND LOSSES
------------------------
End of the Month Delinquencies:
30-59 Days Delinquent $66,640,604.20
60-89 Days Delinquent $47,833,811.32
90+ Days Delinquent $90,824,824.31
Total 30+ Days Delinquent $205,299,239.83
Delinquent Percentage 6.66%
Defaulted Accounts During the Month $19,767,802.61
Annualized Default Percentage 7.84%
Aug-2001 1996-A Page 2
Principal Collections $412,124,916.10
Principal Payment Rate 13.63%
Total Payment Rate 14.49%
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
-----------------
INITIAL INVESTED AMOUNT $450,000,000.00
Class A Invested Amount $0.00
Class B Invested Amount $38,250,000.00
Class C Invested Amount $42,750,000.00
-----------------
INVESTED AMOUNT $81,000,000.00
Class A Adjusted Invested Amount $0.00
Class B Adjusted Invested Amount $38,250,000.00
Class C Adjusted Invested Amount $42,750,000.00
-----------------
ADJUSTED INVESTED AMOUNT $81,000,000.00
PREFUNDED AMOUNT $0.00
FLOATING ALLOCATION PERCENTAGE 14.88%
PRINCIPAL ALLOCATION PERCENTAGE 14.88%
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 $61,322,277.14
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-A $7,563,057.40
MONTHLY SERVICING FEE $331,875.00
INVESTOR DEFAULT AMOUNT $2,941,357.40
Aug-2001 1996-A Page 3
CLASS A AVAILABLE FUNDS
-----------------------
CLASS A FLOATING ALLOCATION PERCENTAGE 69.49%
Class A Finance Charge Collections $6,389,440.44
Other Amounts $333,556.82
TOTAL CLASS A AVAILABLE FUNDS $6,722,997.26
Class A Monthly Interest $1,281,967.50
Class A Servicing Fee $230,625.00
Class A Investor Default Amount $2,411,913.07
TOTAL CLASS A EXCESS SPREAD $2,798,491.69
REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
-----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 14.41%
Class B Finance Charge Collections $662,320.06
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $662,320.06
Class B Monthly Interest $140,775.94
Class B Servicing Fee $47,812.50
TOTAL CLASS B EXCESS SPREAD $473,731.62
CLASS B INVESTOR DEFAULT AMOUNT $250,015.38
CLASS B REQUIRED AMOUNT $250,015.38
CLASS C FLOATING ALLOCATION PERCENTAGE 16.10%
Aug-2001 1996-A Page 4
EXCESS SPREAD
-------------
TOTAL EXCESS SPREAD $3,959,025.89
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 $250,015.38
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $461,258.95
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 $3,154,001.56
Aug-2001 1996-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
--------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $13,912,378.32
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) 5.89%
Base Rate (Prior Month) 6.08%
Base Rate (Two Months Ago) 6.23%
--------
THREE MONTH AVERAGE BASE RATE 6.07%
Portfolio Yield (Current Month) 13.82%
Portfolio Yield (Prior Month) 11.18%
Portfolio Yield (Two Months Ago) 10.13%
--------
THREE MONTH AVERAGE PORTFOLIO YIELD 11.71%
Aug-2001 1996-A Page 6
PRINCIPAL COLLECTIONS
---------------------
TOTAL PRINCIPAL COLLECTIONS $61,322,277.14
INVESTOR DEFAULT AMOUNT $2,941,357.40
REALLOCATED PRINCIPAL COLLECTIONS
Allocable to Class C Interests $0.00
Allocable to Class B Certficates $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE
FROM OTHER SERIES 120,236,365.46
CLASS A SCHEDULED ACCUMULATION --
Controlled Accumulation Amount $184,500,000.00
Deficit Controlled Accumulation Amount $0.00
CONTROLLED DEPOSIT AMOUNT $184,500,000.00
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 $0.00
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 $4,500,000.00
Available Cash Collateral Amount $7,965,000.00
TOTAL DRAW AMOUNT $0.00
CASH COLLATERAL ACCOUNT SURPLUS $3,465,000.00
First USA Bank, National Association
as Servicer
By: /s/ Tracie Klein
------------------------------
Tracie H. Klein
First Vice President