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: $ 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 1996-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 $ 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 $ 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 $ 19,125,000.00
Class C Adjusted Invested Amount $ 42,750,000.00
------------------
ADJUSTED INVESTED AMOUNT $ 61,875,000.00
PREFUNDED AMOUNT $ 0.00
FLOATING ALLOCATION PERCENTAGE 9.06%
PRINCIPAL ALLOCATION PERCENTAGE 15.36%
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 $ 50,313,654.44
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-A $ 4,018,886.03
MONTHLY SERVICING FEE $ 101,250.00
INVESTOR DEFAULT AMOUNT $ 1,804,271.19
Sep-2001 1996-A Page 3
CLASS A AVAILABLE FUNDS
-----------------------
CLASS A FLOATING ALLOCATION PERCENTAGE 0.00%
Class A Finance Charge Collections $ 2,630,446.82
Other Amounts $ 233,608.92
TOTAL CLASS A AVAILABLE FUNDS $ 2,864,055.74
Class A Monthly Interest $ 0.00
Class A Servicing Fee $ 0.00
Class A Investor Default Amount $ 1,253,815.58
TOTAL CLASS A EXCESS SPREAD $ 1,610,240.16
REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
-----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 47.22%
Class B Finance Charge Collections $ 593,149.02
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 593,149.02
Class B Monthly Interest $ 114,909.38
Class B Servicing Fee $ 47,812.50
TOTAL CLASS B EXCESS SPREAD $ 430,427.14
CLASS B INVESTOR DEFAULT AMOUNT $ 259,937.37
CLASS B REQUIRED AMOUNT $ 259,937.37
CLASS C FLOATING ALLOCATION PERCENTAGE 52.78%
Sep-2001 1996-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $2,650,161.07
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 $ 259,937.37
Excess Spread Applied to Reductions of Class B
Invested Amount $ 0.00
Excess Spread Applied to Class C Required Amount $ 439,727.62
Excess Spread Applied to Reductions of Class C
Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash Collateral Fee $ 16,875.00
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 $1,933,621.08
Sep-2001 1996-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 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) 1.52%
Base Rate (Prior Month) 5.89%
Base Rate (Two Months Ago) 6.08%
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THREE MONTH AVERAGE BASE RATE 4.50%
Portfolio Yield (Current Month) 10.99%
Portfolio Yield (Prior Month) 13.82%
Portfolio Yield (Two Months Ago) 11.18%
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THREE MONTH AVERAGE PORTFOLIO YIELD 12.00%
Sep-2001 1996-A Page 6
PRINCIPAL COLLECTIONS
---------------------
TOTAL PRINCIPAL COLLECTIONS $50,313,654.44
INVESTOR DEFAULT AMOUNT $ 1,804,271.19
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 $19,125,000.00
Deficit Controlled Accumulation Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $19,125,000.00
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR
PRINCIPAL SHARING $32,992,925.63
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 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 $ 4,500,000.00
TOTAL DRAW AMOUNT $ 0.00
CASH COLLATERAL ACCOUNT SURPLUS $ 0.00
First USA Bank, National Association
as Servicer
By: /s/ Tracie Klien
-----------------------------
Tracie H. Klein
First Vice President