EXHIBIT 99.10
05/99 Page 1
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: $ 2,820,943,156.54
Beginning of the Month Finance Charge Receivables: $ 125,840,699.72
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,946,783,856.26
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: $ 2,775,718,774.20
End of the Month Finance Charge Receivables: $ 131,434,056.52
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,907,152,830.72
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 $ 445,718,774.20
End of the Month Transferor Percentage 16.06%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 64,403,536.46
60-89 Days Delinquent $ 48,059,530.68
90+ Days Delinquent $ 97,880,913.57
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Total 30+ Days Delinquent $ 210,343,980.71
Delinquent Percentage 7.24%
Defaulted Accounts During the Month $ 22,278,961.96
Annualized Default Percentage 9.48%
Principal Collections 394,955,543.48
Principal Payment Rate 14.00%
Total Payment Rate 14.96%
INVESTED AMOUNTS
Class A Initial Invested Amount $ 407,160,000.00
Class B Initial Invested Amount $ 62,640,000.00
Class C Initial Invested Amount $ 52,200,000.00
INITIAL INVESTED AMOUNT $ 522,000,000.00
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 21.27%
PRINCIPAL ALLOCATION PERCENTAGE 21.27%
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 84,007,044.12
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COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 9,730,335.68
MONTHLY SERVICING FEE $ 1,000,000.00
INVESTOR DEFAULT AMOUNT $ 4,738,735.21
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 8,174,661.84
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 8,174,661.84
Class A Monthly Interest $ 1,904,792.50
Class A Servicing Fee $ 780,000.00
Class A Investor Default Amount $ 3,696,213.46
TOTAL CLASS A EXCESS SPREAD $ 1,793,655.88
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,257,640.30
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 1,257,640.30
Class B Monthly Interest $ 307,545.00
Class B Servicing Fee $ 120,000.00
TOTAL CLASS B EXCESS SPREAD $ 830,095.30
CLASS B INVESTOR DEFAULT AMOUNT 568,648.23
CLASS B REQUIRED AMOUNT 568,648.23
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CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE 100,000.00
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 3,571,784.72
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 $ 568,648.23
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 759,161.02
Excess Spread Applied to Reductions of
Class C Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash $ 125,000.00
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 $ 2,118,975.47
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EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 5,609,279.15
SERIES 1998-A EXCESS FINANCE CHARGE COLLECTIONS --
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO $ 0.00
SERIES 1998-A
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) 7.19%
Base Rate (Two Months Ago) 7.20%
THREE MONTH AVERAGE BASE RATE 7.19%
Portfolio Yield (Current Month) 11.48%
Portfolio Yield (Prior Month) 11.42%
Portfolio Yield (Two Months Ago) 14.43%
THREE MONTH AVERAGE PORTFOLIO YIELD 12.44%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 84,007,044.12
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 $ 84,007,044.12
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 $ 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, NA
as Servicer
By: /s/ TRACIE KLEIN
------------------------------
Tracie H. Klein
First Vice President