08/99 Exhibit 99.10
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: $ 2,930,005,220.60
Beginning of the Month Finance Charge Receivables: $ 126,388,522.60
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 3,056,393,743.20
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: $ 2,927,221,831.62
End of the Month Finance Charge Receivables: $ 123,281,208.34
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 3,050,503,039.96
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $ 2,300,000,000.00
End of the Month Transferor Amount $ 627,221,831.62
End of the Month Transferor Percentage 21.43%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 68,868,987.28
60-89 Days Delinquent $ 50,212,847.69
90+ Days Delinquent $ 98,469,682.87
08/99
Page 2
Total 30+ Days Delinquent $ 217,551,517.84
Delinquent Percentage 7.13%
Defaulted Accounts During the Month $ 19,884,369.56
Annualized Default Percentage 8.14%
Principal Collections 465,776,441.07
Principal Payment Rate 15.90%
Total Payment Rate 16.80%
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 20.48%
PRINCIPAL ALLOCATION PERCENTAGE 20.48%
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 95,380,768.02
08/99
Page 3
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 9,771,136.44
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 4,071,881.43
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 8,206,486.40
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 8,206,486.40
Class A Monthly Interest $ 2,113,312.50
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $ 3,176,067.52
TOTAL CLASS A EXCESS SPREAD $ 2,332,106.38
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,262,536.38
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 1,262,536.38
Class B Monthly Interest $ 340,125.00
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 832,411.38
CLASS B INVESTOR DEFAULT AMOUNT 488,625.77
CLASS B REQUIRED AMOUNT 488,625.77
08/99
Page 4
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE 75,000.00
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 4,141,631.42
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 $ 488,625.77
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 720,625.64
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 $ 1,706,505.71
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 $ 1,100,874.30
08/99
Page 5
EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 5,809,171.11
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
08/99
Page 6
YIELD AND BASE RATE --
Base Rate (Current Month) 7.53%
Base Rate (Prior Month) 7.45%
Base Rate (Two Months Ago) 7.25%
THREE MONTH AVERAGE BASE RATE 7.41%
Portfolio Yield (Current Month) 12.90%
Portfolio Yield (Prior Month) 9.95%
Portfolio Yield (Two Months Ago) 13.92%
THREE MONTH AVERAGE PORTFOLIO YIELD 12.26%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 95,380,768.02
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 $ 95,380,768.02
SHARING
08/99
Page 7
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