Dec-2001 1998-A
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: $2,756,407,831.91
Beginning of the Month Finance Charge Receivables: $148,987,926.09
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $2,905,395,758.00
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: $2,770,988,318.32
End of the Month Finance Charge Receivables: $148,890,576.71
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $2,919,878,895.03
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 $878,238,318.32
End of the Month Transferor Percentage 31.69%
DELINQUENCIES AND LOSSES
------------------------
End of the Month Delinquencies:
30-59 Days Delinquent $72,414,343.09
60-89 Days Delinquent $52,408,176.18
90+ Days Delinquent $93,208,495.39
Total 30+ Days Delinquent $218,031,014.66
Delinquent Percentage 7.47%
Defaulted Accounts During the Month $19,296,502.32
Annualized Default Percentage 8.40%
Dec-2001 1998-A Page 2
Principal Collections $321,797,181.62
Principal Payment Rate 11.67%
Total Payment Rate 12.57%
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 21.77%
PRINCIPAL ALLOCATION PERCENTAGE 21.77%
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 $70,047,076.02
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1998-A $9,444,778.42
MONTHLY SERVICING FEE $750,000.00
INVESTOR DEFAULT AMOUNT $4,200,358.63
Dec-2001 1998-A Page 3
CLASS A AVAILABLE FUNDS
-----------------------
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $7,951,927.17
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $7,951,927.17
Class A Monthly Interest $771,202.51
Class A Servicing Fee $585,000.00
Class A Investor Default Amount $3,276,279.73
TOTAL CLASS A EXCESS SPREAD $3,319,444.93
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
-----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $1,223,373.41
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $1,223,373.41
Class B Monthly Interest $133,146.54
Class B Servicing Fee $90,000.00
TOTAL CLASS B EXCESS SPREAD $1,000,226.87
CLASS B INVESTOR DEFAULT AMOUNT $504,043.03
CLASS B REQUIRED AMOUNT $504,043.03
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE $75,000.00
Dec-2001 1998-A Page 4
EXCESS SPREAD
-------------
TOTAL EXCESS SPREAD $5,264,149.64
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 $504,043.03
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $559,991.32
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 $4,075,115.29
Dec-2001 1998-A Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
--------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $12,971,293.74
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) 4.16%
Base Rate (Prior Month) 4.35%
Base Rate (Two Months Ago) 4.79%
-----
THREE MONTH AVERAGE BASE RATE 4.43%
Portfolio Yield (Current Month) 11.99%
Portfolio Yield (Prior Month) 12.87%
Portfolio Yield (Two Months Ago) 12.69%
------
THREE MONTH AVERAGE PORTFOLIO YIELD 12.52%
Dec-2001 1998-A Page 6
PRINCIPAL COLLECTIONS
---------------------
TOTAL PRINCIPAL COLLECTIONS $70,047,076.02
INVESTOR DEFAULT AMOUNT $4,200,358.63
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 $74,247,434.65
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