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CAPITAL ONE MASTER TRUST (RECEIVABLES)
MONTHLY PERIOD : JANUARY 1998
Beginning of the Month Principal Receivables : 10,576,845,603.02
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Beginning of the Month Finance Charge Receivables : 319,858,496.18
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Beginning of the Month Discounted Receivables : 0.00
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Beginning of the Month Total Receivables : 10,896,704,099.20
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Removed Principal Receivables : 0.00
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Removed Finance Charge Receivables : 0.00
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Removed Total Receivables : 0.00
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Additional Principal Receivables : 640,987,388.85
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Additional Finance Charge Receivables : 2,624,522.51
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Additional Total Receivables : 643,611,911.36
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Discounted Receivables Generated this Period 0.00
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End of the Month Principal Receivables : 10,061,736,517.10
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End of the Month Finance Charge Receivables : 324,534,089.18
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End of the Month Discounted Receivables : 0.00
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End of the Month Total Receivables : 10,386,270,606.28
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Excess Funding Account Balance 0.00
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Adjusted Invested Amount of all Master Trust Series 8,968,341,857.83
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End of the Month Seller Percentage 10.866858%
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CAPITAL ONE MASTER TRUST (DELINQUENCIES AND LOSSES)
MONTHLY PERIOD : JANUARY 1998 ACCOUNTS RECEIVABLES
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End of the Month Delinquencies :
30 - 59 Days Delinquent 152,467 236,827,331.51
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60 - 89 Days Delinquent 93,722 152,689,695.55
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90 + Days Delinquent 189,476 307,126,354.57
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Total 30 + Days Delinquent 435,665 64,605,705.46
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Delinquencies 30 + Days as a Percent of End of the Month Total Receivables 6.71%
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Defaulted Accounts During the Month 46,144 (1) 64,605,705.46
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Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables (1) 7.33%
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(1) During the 4th Quarter of 1997, Capital One changed the methodology as to
the timing of charging-off credit card loans. Capital One now charges-off credit
card loans at 180 days past due versus the prior practice of charging-off credit
card loans during the first billing cycle after becoming 180 days past due. The
change in methodology amounted to $40,961,451.31/4.88% of additional December
charge-offs and is referred to as the Transitional Defaulted Amount for the
purposes of the Servicing Reports.
Proforma Defaulted Accounts (which excludes Transitional Defaulted Amount) 34,711 69,082,254.68
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Proforma Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables 8.22%
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Total Collections and Gross Payment Rate 1,168,055,035.97 10.72%
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Collections of Principal Receivables and Principal Payment Rate 995,815,142.89 9.42%
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Prior Month Billed Finance Charge and Fees 151,283,118.84
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Amortized AMF Income 9,434,358.89
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Interchange Collected 5,854,531.71
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Recoveries of Charged Off Accounts 7,452,633.86
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Collections of Discounted Receivables 0.00
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Collections of Finance Charge Receivables and Annualized Yield 174,024,643.30 19.74%
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CAPITAL ONE MASTER TRUST (AMF COLLECTIONS)
MONTHLY PERIOD : JANUARY 1998
Beginning Unamortized AMF Balance 47,357,670.68
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+ AMF Slug for Added Accounts 0.00
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+ AMF Collections 7,649,608.67
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- Amortized AMF Income 9,434,358.89
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Ending Unamortized AMF Balance 45,572,920.46
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CAPITAL ONE MASTER TRUST (DISCOUNTED RECEIVABLES)
MONTHLY PERIOD : JANUARY 1998
Gross Principal Payment Rate 9.42%
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May 17, 1994 3% Discount of Addition 50,184,973.92
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Total Discounted Receivables Collections as of Beginning of Month 50,184,973.92
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Collections of Discounted Receivables Current Month 0.00
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Discounted Receivables to be Collected 0.00
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/s/ Douglas C.H. Adamson
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Douglas C.H. Adamson
Securitization Manager
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