Nov-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: $2,777,933,706.23
Beginning of the Month Finance Charge Receivables: $ 150,634,794.59
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $2,928,568,500.82
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: $2,756,407,831.91
End of the Month Finance Charge Receivables: $ 148,987,926.09
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $2,905,395,758.00
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $1,892,750,000.00
End of the Month Transferor Amount $ 863,657,831.91
End of the Month Transferor Percentage 31.33%
DELINQUENCIES AND LOSSES
- ------------------------
End of the Month Delinquencies:
30-59 Days Delinquent $ 71,247,027.17
60-89 Days Delinquent $ 52,402,505.87
90+ Days Delinquent $ 88,133,436.39
Total 30+ Days Delinquent $ 211,782,969.43
Delinquent Percentage 7.29%
Defaulted Accounts During the Month $ 17,934,754.24
Annualized Default Percentage 7.75%
Nov-2001 1998-A Page 2
Principal Collections $324,844,135.90
Principal Payment Rate 11.69%
Total Payment Rate 12.60%
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
---------------
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
---------------
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 21.60%
PRINCIPAL ALLOCATION PERCENTAGE 21.60%
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 $ 70,162,394.85
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1998-A $ 9,558,285.13
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 3,873,689.48
Nov-2001 1998-A Page 3
CLASS A AVAILABLE FUNDS
- -----------------------
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $8,040,462.41
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $8,040,462.41
Class A Monthly Interest $ 927,680.00
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $3,021,477.79
TOTAL CLASS A EXCESS SPREAD $3,506,304.62
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
- -----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $1,236,994.23
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $1,236,994.23
Class B Monthly Interest $ 158,720.00
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 988,274.23
CLASS B INVESTOR DEFAULT AMOUNT $ 464,842.74
CLASS B REQUIRED AMOUNT $ 464,842.74
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE $ 75,000.00
Nov-2001 1998-A Page 4
EXCESS SPREAD
- -------------
TOTAL EXCESS SPREAD $5,450,407.34
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 $ 464,842.74
Excess Spread Applied to Reductions of Class B
Invested Amount $ 0.00
Excess Spread Applied to Class C Required Amount $ 551,635.62
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 $4,308,928.98
Nov-2001 1998-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
- --------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $13,899,537.19
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) 4.35%
Base Rate (Prior Month) 4.79%
Base Rate (Two Months Ago) 5.75%
--------------
THREE MONTH AVERAGE BASE RATE 4.96%
Portfolio Yield (Current Month) 12.87%
Portfolio Yield (Prior Month) 12.69%
Portfolio Yield (Two Months Ago) 10.45%
--------------
THREE MONTH AVERAGE PORTFOLIO YIELD 12.00%
Nov-2001 1998-A Page 6
PRINCIPAL COLLECTIONS
- ---------------------
TOTAL PRINCIPAL COLLECTIONS $70,162,394.85
INVESTOR DEFAULT AMOUNT $ 3,873,689.48
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 $74,036,084.33
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