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: $2,777,933,706.23
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 1996-A Page 2
Principal Collections $324,844,135.90
Principal Payment Rate 11.69%
Total Payment Rate 12.60%
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
---------------
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
---------------
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 2.23%
PRINCIPAL ALLOCATION PERCENTAGE 16.20%
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 $ 52,621,796.15
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-A $ 1,003,663.03
MONTHLY SERVICING FEE $ 53,437.50
INVESTOR DEFAULT AMOUNT $ 399,474.22
Nov-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 30.91%
Class B Finance Charge Collections $304,670.33
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $304,670.33
Class B Monthly Interest $ 0.00
Class B Servicing Fee $ 0.00
TOTAL CLASS B EXCESS SPREAD $304,670.33
CLASS B INVESTOR DEFAULT AMOUNT $123,473.85
CLASS B REQUIRED AMOUNT $123,473.85
CLASS C FLOATING ALLOCATION PERCENTAGE 69.09%
Nov-2001 1996-A Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $1,003,663.03
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 $ 123,473.85
Excess Spread Applied to Reductions of Class B
Invested Amount $ 0.00
Excess Spread Applied to Class C Required Amount $ 393,040.37
Excess Spread Applied to Reductions of Class C
Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash Collateral Fee $ 8,906.25
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 $ 478,242.56
Nov-2001 1996-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 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
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Base Rate (Current Month) 2.92%
Base Rate (Prior Month) 5.23%
Base Rate (Two Months Ago) 1.52%
------
THREE MONTH AVERAGE BASE RATE 3.22%
Portfolio Yield (Current Month) 9.74%
Portfolio Yield (Prior Month) 13.13%
Portfolio Yield (Two Months Ago) 10.99%
------
THREE MONTH AVERAGE PORTFOLIO YIELD 11.29%
Nov-2001 1996-A Page 6
PRINCIPAL COLLECTIONS
- ---------------------
TOTAL PRINCIPAL COLLECTIONS $ 52,621,796.15
INVESTOR DEFAULT AMOUNT $ 399,474.22
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 $ 53,021,270.37
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