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EXHIBIT 99.8
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1996-C
ACC MASTER CREDIT CARD TRUST II (Formerly Chevy Chase Master Credit
Card Trust II)
RECEIVABLES
Beginning of the Month Principal Receivables: $ 2, 818,233,901.50
Beginning of the Month Finance Charge Receivables: $ 131,792,745.26
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,950,026,646.76
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: $ 2,673,458,907.69
End of the Month Finance Charge Receivables: $ 131,033,039.35
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,804,491,947.04
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $ 2,330,000,000.00
End of the Month Transferor Amount $ 343,458,907.69
End of the Month Transferor Percentage 12.85%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 65,586,199.17
60-89 Days Delinquent $ 45,392,400.07
90+ Days Delinquent $ 93,861,474.82
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Total 30+ Days Delinquent $ 204,840,074.06
Delinquent Percentage 7.30%
Defaulted Accounts During the Month $ 21,605,112.55
Annualized Default Percentage 9.20%
Principal Collections 372,145,006.93
Principal Payment Rate 13.20%
Total Payment Rate 14.17%
INVESTED AMOUNTS
Class A Initial Invested Amount $ 184,500,000.00
Class B Initial Invested Amount $ 19,125,000.00
Class C Initial Invested Amount $ 21,375,000.00
INITIAL INVESTED AMOUNT $ 225,000,000.00
Class A Invested Amount $ 246,000,000.00
Class B Invested Amount $ 25,500,000.00
Class C Invested Amount $ 28,500,000.00
INVESTED AMOUNT $ 300,000,000.00
Class A Adjusted Invested Amount $ 246,000,000.00
Class B Adjusted Invested Amount $ 25,500,000.00
Class C Adjusted Invested Amount $ 28,500,000.00
ADJUSTED INVESTED AMOUNT $ 300,000,000.00
PREFUNDED AMOUNT $ 0.00
FLOATING ALLOCATION PERCENTAGE 10.64%
PRINCIPAL ALLOCATION PERCENTAGE 10.64%
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-C 39,596,228.70
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COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1996-C 4,889,654.78
MONTHLY SERVICING FEE $ 500,000.00
INVESTOR DEFAULT AMOUNT $ 2,298,783.98
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING ALLOCATION PERCENTAGE 82.00%
Class A Finance Charge Collections $ 4,317,016.89
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 4,317,016.89
Class A Monthly Interest $ 936,453.74
Class A Servicing Fee $ 410,000.00
Class A Investor Default Amount $ 1,885,002.86
TOTAL CLASS A EXCESS SPREAD $ 1,085,560.29
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 8.50%
Class B Finance Charge Collections $ 447,495.68
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 447,495.68
Class B Monthly Interest $ 101,565.80
Class B Servicing Fee $ 42,500.00
TOTAL CLASS B EXCESS SPREAD $ 303,429.88
CLASS B INVESTOR DEFAULT AMOUNT 195,396.64
CLASS B REQUIRED AMOUNT 195,396.64
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CLASS C FLOATING ALLOCATION PERCENTAGE 9.50%
CLASS C MONTHLY SERVICING FEE 47,500.00
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 1,841,632.38
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 $ 195,396.64
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 344,189.82
Excess Spread Applied to Reductions of
Class C Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash $ 62,500.00
Collateral Fee
Excess Spread Applied to Cash Collateral $ 0.00
Account
Excess Spread Applied to Spread Account $ 0.00
Excess Spread Applied to Reserve Account $ 0.00
Excess Spread Applied to other amounts owed to $ 0.00
Cash Collateral Depositor
Excess Spread Applied to other amounts owed to
Spread Account Residual Interest Holders $ 0.00
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR GROUP I $ 1,239,545.92
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EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 9,736,341.72
SERIES 1996-C EXCESS FINANCE CHARGE COLLECTIONS --
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO $ 0.00
SERIES 1996-C
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
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YIELD AND BASE RATE --
Base Rate (Current Month) 7.17%
Base Rate (Prior Month) 7.24%
Base Rate (Two Months Ago) 7.77%
THREE MONTH AVERAGE BASE RATE 7.39%
Portfolio Yield (Current Month) 11.86%
Portfolio Yield (Prior Month) 13.42%
Portfolio Yield (Two Months Ago) 15.48%
THREE MONTH AVERAGE PORTFOLIO YIELD 13.59%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 39,596,228.70
REALLOCATED PRINCIPAL COLLECTIONS
Allocable to Class C Interests $ 0.00
Allocable to Class B Certificates $ 0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $ 0.00
SERIES
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 $ 39,596,228.70
SHARING
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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 $ 9,000,000.00
Available Cash Collateral Amount $ 9,000,000.00
TOTAL DRAW AMOUNT $ 0.00
CASH COLLATERAL ACCOUNT SURPLUS $ 0.00
First USA Bank, NA
as Servicer
By: /s/ Tracie Klein
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Tracie H. Klein
Vice President