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: $2,756,407,831.91
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 1996-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 $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 $0.00
---------------
INVESTED AMOUNT $0.00
Class A Adjusted Invested Amount $0.00
Class B Adjusted Invested Amount $0.00
Class C Adjusted Invested Amount $0.00
---------------
ADJUSTED INVESTED AMOUNT $0.00
PREFUNDED AMOUNT $0.00
FLOATING ALLOCATION PERCENTAGE 1.55%
PRINCIPAL ALLOCATION PERCENTAGE 16.33%
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 $52,535,306.99
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-A $672,952.66
MONTHLY SERVICING FEE $53,437.50
INVESTOR DEFAULT AMOUNT $299,275.55
Dec-2001 1996-A Page 3
CLASS A AVAILABLE FUNDS
-----------------------
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
-----------------------
CLASS B FLOATING ALLOCATION PERCENTAGE 0.00%
Class B Finance Charge Collections $0.00
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $0.00
Class B Monthly Interest $0.00
Class B Servicing Fee $0.00
TOTAL CLASS B EXCESS SPREAD $0.00
CLASS B INVESTOR DEFAULT AMOUNT $0.00
CLASS B REQUIRED AMOUNT $0.00
CLASS C FLOATING ALLOCATION PERCENTAGE 100.00%
Dec-2001 1996-A Page 4
EXCESS SPREAD
-------------
TOTAL EXCESS SPREAD $672,952.66
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 $0.00
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $398,993.81
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 $265,052.60
Dec-2001 1996-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 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) 4.90%
Base Rate (Prior Month) 2.92%
Base Rate (Two Months Ago) 5.23%
---------
THREE MONTH AVERAGE BASE RATE 4.35%
Portfolio Yield (Current Month) 11.99%
Portfolio Yield (Prior Month) 9.74%
Portfolio Yield (Two Months Ago) 13.13%
---------
THREE MONTH AVERAGE PORTFOLIO YIELD 11.62%
Dec-2001 1996-A Page 6
PRINCIPAL COLLECTIONS
---------------------
TOTAL PRINCIPAL COLLECTIONS $52,535,306.99
INVESTOR DEFAULT AMOUNT $299,275.55
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 $10,084,582.54
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 $0.00
Available Cash Collateral Amount $4,500,000.00
TOTAL DRAW AMOUNT $0.00
CASH COLLATERAL ACCOUNT SURPLUS $4,500,000.00
First USA Bank, National Association
as Servicer
By: /s/ Tracie H. Klein
--------------------------------
Tracie H. Klein
First Vice President