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: $2,846,311,830.52
Beginning of the Month Finance Charge Receivables: $159,595,970.84
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $3,005,907,801.36
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: $2,777,933,706.23
End of the Month Finance Charge Receivables: $150,634,794.59
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $2,928,568,500.82
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 $846,933,706.23
End of the Month Transferor Percentage 30.49%
DELINQUENCIES AND LOSSES
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End of the Month Delinquencies:
30-59 Days Delinquent $72,815,795.56
60-89 Days Delinquent $47,530,786.27
90+ Days Delinquent $85,701,109.08
Total 30+ Days Delinquent $206,047,690.91
Delinquent Percentage 7.04%
Defaulted Accounts During the Month $21,585,338.91
Annualized Default Percentage 9.10%
Oct-2001 1996-A Page 2
Principal Collections $360,466,089.82
Principal Payment Rate 12.66%
Total Payment Rate 13.59%
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 $0.00
Class B Invested Amount $0.00
Class C Invested Amount $42,750,000.00
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INVESTED AMOUNT $42,750,000.00
Class A Adjusted Invested Amount $0.00
Class B Adjusted Invested Amount $0.00
Class C Adjusted Invested Amount $42,750,000.00
--------------
ADJUSTED INVESTED AMOUNT $42,750,000.00
PREFUNDED AMOUNT $0.00
FLOATING ALLOCATION PERCENTAGE 2.85%
PRINCIPAL ALLOCATION PERCENTAGE 15.81%
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 $56,989,448.11
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-A $1,399,414.29
MONTHLY SERVICING FEE $77,343.75
INVESTOR DEFAULT AMOUNT $614,272.98
Oct-2001 1996-A Page 3
CLASS A AVAILABLE FUNDS
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CLASS A FLOATING ALLOCATION PERCENTAGE 0.00%
Class A Finance Charge Collections $0.00
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $0.00
Class A Monthly Interest $0.00
Class A Servicing Fee $0.00
Class A Investor Default Amount $0.00
TOTAL CLASS A EXCESS SPREAD $0.00
REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
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CLASS B FLOATING ALLOCATION PERCENTAGE 47.22%
Class B Finance Charge Collections $694,535.78
Other Amounts $29,882.64
TOTAL CLASS B AVAILABLE FUNDS $724,418.42
Class B Monthly Interest $95,518.75
Class B Servicing Fee $23,906.25
TOTAL CLASS B EXCESS SPREAD $604,993.42
CLASS B INVESTOR DEFAULT AMOUNT $290,073.35
CLASS B REQUIRED AMOUNT $290,073.35
CLASS C FLOATING ALLOCATION PERCENTAGE 52.78%
Oct-2001 1996-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $1,327,801.79
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 $290,073.35
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $453,963.69
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 $566,889.75
Oct-2001 1996-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
- --------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $13,127,273.54
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) 5.23%
Base Rate (Prior Month) 1.52%
Base Rate (Two Months Ago) 5.89%
----
THREE MONTH AVERAGE BASE RATE 4.21%
Portfolio Yield (Current Month) 13.13%
Portfolio Yield (Prior Month) 10.99%
Portfolio Yield (Two Months Ago) 13.82%
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THREE MONTH AVERAGE PORTFOLIO YIELD 12.65%
Oct-2001 1996-A Page 6
PRINCIPAL COLLECTIONS
- ---------------------
TOTAL PRINCIPAL COLLECTIONS $56,989,448.11
INVESTOR DEFAULT AMOUNT $614,272.98
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 $38,478,721.09
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 $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 Klein
------------------------------
Tracie H. Klein
First Vice President