Sep-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: $ 2,930,612,861.53
Beginning of the Month Finance Charge Receivables: $ 154,076,978.70
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 3,084,689,840.23
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: $ 2,846,311,830.52
End of the Month Finance Charge Receivables: $ 159,595,970.84
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 3,005,907,801.36
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $ 1,931,000,000.00
End of the Month Transferor Amount $ 915,311,830.52
End of the Month Transferor Percentage 32.16%
DELINQUENCIES AND LOSSES
------------------------
End of the Month Delinquencies:
30-59 Days Delinquent $ 68,610,185.84
60-89 Days Delinquent $ 48,242,481.56
90+ Days Delinquent $ 90,182,416.26
Total 30+ Days Delinquent $ 207,035,083.66
Delinquent Percentage 6.89%
Defaulted Accounts During the Month $ 19,915,707.60
Annualized Default Percentage 8.15%
Sep-2001 1998-A Page 2
Principal Collections $ 327,666,317.47
Principal Payment Rate 11.18%
Total Payment Rate 11.98%
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
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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 20.47%
PRINCIPAL ALLOCATION PERCENTAGE 20.47%
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 $ 67,084,872.60
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1998-A $ 8,554,298.61
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 4,077,449.03
Sep-2001 1998-A Page 3
CLASS A AVAILABLE FUNDS
-----------------------
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 7,257,352.93
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 7,257,352.93
Class A Monthly Interest $ 1,324,050.00
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $ 3,180,410.25
TOTAL CLASS A EXCESS SPREAD $ 2,167,892.68
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
-----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,116,515.82
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 1,116,515.82
Class B Monthly Interest $ 217,700.00
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 808,815.82
CLASS B INVESTOR DEFAULT AMOUNT $ 489,293.88
CLASS B REQUIRED AMOUNT $ 489,293.88
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE $ 75,000.00
Sep-2001 1998-A Page 4
EXCESS SPREAD
-------------
TOTAL EXCESS SPREAD $3,832,138.36
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 $489,293.88
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $617,161.57
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 $2,600,682.91
Sep-2001 1998-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
--------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $10,098,610.30
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
-------------------
Base Rate (Current Month) 5.75%
Base Rate (Prior Month) 5.91%
Base Rate (Two Months Ago) 6.10%
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THREE MONTH AVERAGE BASE RATE 5.92%
Portfolio Yield (Current Month) 10.45%
Portfolio Yield (Prior Month) 12.94%
Portfolio Yield (Two Months Ago) 11.18%
------
THREE MONTH AVERAGE PORTFOLIO YIELD 11.52%
Sep-2001 1998-A Page 6
PRINCIPAL COLLECTIONS
---------------------
TOTAL PRINCIPAL COLLECTIONS $67,084,872.60
INVESTOR DEFAULT AMOUNT $4,077,449.03
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 $71,162,321.63
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