1
SERVICER'S REPORT CONFIDENTIAL
INTEREST PERIOD: NOVEMBER 17, 2000 DATE OF REPORT: DECEMBER 15, 2000
TO DECEMBER 17, 2000
ASSOCIATES CREDIT CARD MASTER NOTE TRUST, SERIES 2000-1
CLASS A CLASS B CLASS C
MONTHLY MASTER NOTE TRUST ACTIVITIES NOTE NOTE NOTE
---------------- ---------------- ----------------
Beginning Principal Receivables Balance
Beginning Fin. Chrg. Receivables Balance
Beginning Total Receivables Balance
Beginning Special Funding Accnt Balance
Beginning Spread Account Balance
Beginning Reserve Account Balance
Initial Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00
Beginning Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00
Note Principal Balance Increase 0.00 0.00 0.00
Note Principal Balance Decrease 0.00 0.00 0.00
Reductions in Invested Amount this Period
(Other than by Principal Payments) 0.00 0.00 0.00
Previous Reductions in Invested Amount
Reimbursed this Period 0.00 0.00 0.00
Ending Special Funding Accnt Balance
Ending Spread Account Balance
Ending Reserve Account Balance
Ending Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00
TOTAL SERIES TRANSFEROR TRUST
MONTHLY MASTER NOTE TRUST ACTIVITIES NOTE INTEREST TOTALS
---------------- ---------------- ----------------
Beginning Principal Receivables Balance 6,959,262,231.09
Beginning Fin. Chrg. Receivables Balance 390,624,587.13
Beginning Total Receivables Balance 7,349,886,818.20
Beginning Special Funding Accnt Balance 0.00
Beginning Spread Account Balance 0.00
Beginning Reserve Account Balance 0.00
Initial Invested Amount 1,000,000,000.00
Beginning Period Invested Amount 1,000,000,000.00 1,375,424,831.09
Note Principal Balance Increase 0.00
Note Principal Balance Decrease 0.00
Reductions in Invested Amount this Period
(Other than by Principal Payments) 0.00
Previous Reductions in Invested Amount
Reimbursed this Period 0.00
Ending Special Funding Accnt Balance 0.00
Ending Spread Account Balance 0.00
Ending Reserve Account Balance 0.00
Ending Period Invested Amount 1,000,000,000.00 1,446,847,704.58
GROUP I INFORMATION SERIES 2000-98-1 SERIES 2000-98-2 SERIES 2000-99-1 SERIES 2000-99-2 SERIES 2000-99-3
---------------- ---------------- ---------------- ---------------- ----------------
Beginning Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 264,706,000.00
Average Rate 6.94% 6.95% 6.98% 6.90% 6.93%
Allocable Finance Charge Collections 18,367,398.74 17,142,100.72 14,691,463.06 11,018,616.03 5,509,303.85
Allocable Principal Collections 77,591,068.70 72,414,931.14 62,062,480.18 46,546,939.26 23,273,452.05
Allocable Default Amount Due 7,275,679.48 6,790,315.39 5,819,570.74 4,364,685.48 2,182,341.09
Allocable Monthly Interest Due 5,277,441.63 4,930,858.18 4,245,064.88 3,143,692.49 1,579,375.97
Allocable Monthly Servicing Fees Due 1,470,833.33 1,372,713.33 1,176,470.00 882,354.00 441,176.67
Ending Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 264,706,000.00
GROUP I INFORMATION SERIES 2000-99-4 SERIES 2000-1 SERIES 2000-2 TOTAL
---------------- ---------------- ---------------- ----------------
Beginning Invested Amount 588,235,000.00 1,000,000,000.00 789,474,000.00 5,583,837,400.00
Average Rate 7.01% 6.85% 0.07 6.92%
Allocable Finance Charge Collections 12,242,885.89 20,812,916.41 16,431,256.37 116,215,941.07
Allocable Principal Collections 51,718,733.48 87,921,890.88 69,412,046.88 490,941,542.56
Allocable Default Amount Due 4,849,642.29 8,244,396.01 6,508,736.29 46,035,366.76
Allocable Monthly Interest Due 3,552,494.52 5,900,957.64 4,645,736.12 33,275,621.43
Allocable Monthly Servicing Fees Due 980,391.67 1,666,666.67 1,315,790.00 9,306,395.67
Ending Invested Amount 588,235,000.00 1,000,000,000.00 789,474,000.00 5,583,837,400.00
PAYOUT EVENT TESTS
BASE RATE TRIGGER TRANSFEROR'S INTEREST TRIGGER
- ----------------- -----------------------------
3 Month Average Portfolio Yield 17.77% Required Transferor Interest 492,147,957.32
3 Month Average Base Rate 8.85% Transferor Interest 1,446,847,704.58
Spread 8.92% Trigger Pass Test Yes
Trigger Pass Test: If Spread is >0, "Yes" Yes
2
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Cash Reconciliation
Dec-00
GROUP 1 Coupon Rate Balance Interest Payments
----------------- ----------------- -----------------
Series 2000-98-1, Class A 6.84% $ 662,500,000.00 $ 3,904,145.20
Series 2000-98-1, Class B 7.07% $ 87,500,000.00 $ 532,428.43
Series 2000-98-1, Class C 7.37% $ 132,500,000.00 $ 840,868.00
Series 2000-98-2, Class A 6.85% $ 617,647,000.00 $ 3,644,727.99
Series 2000-98-2, Class B 7.07% $ 82,353,000.00 $ 501,565.44
Series 2000-98-2, Class C 7.37% $ 123,628,000.00 $ 784,564.75
Series 2000-99-1, Class A 6.89% $ 529,412,000.00 $ 3,142,027.14
Series 2000-99-1, Class B 7.09% $ 70,588,000.00 $ 431,092.19
Series 2000-99-1, Class C 7.37% $ 105,882,000.00 $ 671,945.55
Series 2000-99-2, Class A 6.78% $ 397,058,400.00 $ 2,317,201.94
Series 2000-99-2, Class B 7.07% $ 52,941,600.00 $ 322,525.67
Series 2000-99-2, Class C 7.37% $ 79,412,400.00 $ 503,964.88
Series 2000-99-3, Class A 6.85% $ 198,500,000.00 $ 1,171,057.19
Series 2000-99-3, Class B 6.85% $ 26,500,000.00 $ 156,337.61
Series 2000-99-3, Class C 7.37% $ 39,706,000.00 $ 251,981.17
Series 2000-99-4, Class A 6.92% $ 441,176,000.00 $ 2,629,076.42
Series 2000-99-4, Class B 7.18% $ 58,824,000.00 $ 363,463.47
Series 2000-99-4, Class C 7.37% $ 88,235,000.00 $ 559,954.63
Series 2000-1, Class A 6.74% $ 760,000,000.00 $ 4,414,064.17
Series 2000-1, Class B 6.96% $ 102,500,000.00 $ 614,294.60
Series 2000-1, Class C 7.37% $ 137,500,000.00 $ 872,598.87
Series 2000-2, Class A 6.72% $ 600,000,000.00 $ 3,471,870.83
Series 2000-2, Class B 6.96% $ 80,921,000.00 $ 484,969.11
Series 2000-2, Class C 7.37% $ 108,553,000.00 $ 688,896.18
------------------ ----------------- -----------------
Weighted Average Coupon of all Notes 6.92% $5,583,837,400.00 $ 33,275,621.43
================== ================= =================
Weighted Average Coupon of 6.84% $4,768,421,000.00
================== =================
Class A and Class B Notes
Current Transaction Period: Revolving Period
CASH FLOW REQUIREMENTS SERIES 2000-98-1
- ---------------------- -----------------------------------------------------------------------------
Class A Class B Class C Total
----------------- ----------------- ----------------- ------------------
Principal Distribution Due this Period $ -- $ -- $ -- $ --
Interest Distribution Due this Period $ 3,904,145.20 $ 532,428.4320 $ 840,868.00.43 $ 45,277,441.63
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 1,470,833.33 1,$71,470,833.33
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 3,904,145.20 $ 532,428.43 $ 2,311,701.33 $ 6,748,274.96
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors $ 4,436,573.63
SERIES 2000-98-2
-----------------------------------------------------------------------------
Class A Class B Class C Total
----------------- ----------------- ----------------- -----------------
Principal Distribution Required Amount $ -- $ -- $ -- $ --
Interest Distribution Required Amount $ 3,644,727.99 $ 501,565.4499 $ 784,564.75.44 $ 84,930,858.18
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 1,372,713.33 $ 1,372,713.33
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 3,644,727.99 $ 501,565.44 $ 2,157,278.08 $ 6,303,571.51
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors $ 4,146,293.43
SERIES 2000-99-1
-----------------------------------------------------------------------------
Class A Class B Class C Total
------------------ ------------------ ------------------ -----------------
Principal Distribution Required Amount $ -- $ -- $ -- $ --
Interest Distribution Required Amount $ 3,142,027.14 $ 431,092.1914 $ 671,945.55.19 $ 74,245,064.88
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 1,176,470.00 $ 1,176,470.00
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 3,142,027.14 $ 431,092.19 $ 1,848,415.55 $ 5,421,534.88
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors $ 3,573,119.33
SERIES 2000-99-2
-----------------------------------------------------------------------------
Class A Class B Class C Total
----------------- ----------------- ----------------- -----------------
Principal Distribution Required Amount $ -- $ -- $ -- $ --
Interest Distribution Required Amount $ 2,317,201.94 $ 322,525.6794 $ 503,964.88.67 $ 03,143,692.49
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 882,354.00 $ 882,354.00
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 2,317,201.94 $ 322,525.67 $ 1,386,318.88 $ 4,026,046.49
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors
3
SERIES 2000-99-3
-----------------------------------------------------------------------------
Class A Class B Class C Total
----------------- ----------------- ----------------- -----------------
Principal Distribution Required Amount $ -- $ -- $ -- $ --
Interest Distribution Required Amount $ 1,171,057.19 $ 156,337.6119 $ 251,981.17.61 $ 1,579,375.97
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 441,176.67 $ 441,176.67
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 1,171,057.19 $ 156,337.61 $ 693,157.84 $ 2,020,552.64
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors $ 1,327,394.80
SERIES 2000-99-4
-----------------------------------------------------------------------------
Class A Class B Class C Total
------------------ ------------------ ------------------ ------------------
Principal Distribution Required Amount $ -- $ -- $ -- $ --
Interest Distribution Required Amount $ 2,629,076.42 $ 363,463.4742 $ 559,954.63.47 $ 3,552,494.52
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 980,391.67 980,391.67
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 2,629,076.42 $ 363,463.47 $ 1,540,346.30 $ 4,532,886.19
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors $ 2,992,539.89
SERIES 2000-1
-----------------------------------------------------------------------------
Class A Class B Class C Total
----------------- ----------------- ----------------- -----------------
Principal Distribution Required Amount $ -- $ -- $ -- $ --
Interest Distribution Required Amount $ 4,414,064.17 $ 614,294.60 $ 872,598.87 $ 5,900,957.64
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 1,666,666.67 $ 1,666,666.67
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 4,414,064.17 $ 614,294.60 $ 2,539,265.54 $ 7,567,624.31
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors $ 5,028,358.77
SERIES 2000-2
-----------------------------------------------------------------------------
Class A Class B Class C Total
----------------- ----------------- ----------------- -----------------
Principal Distribution Required Amount $ -- $ -- $ -- $ --
Interest Distribution Required Amount $ 3,471,870.83 $ 484,969.1183 $ 688,896.18.11 $ 4,645,736.12
Unpaid Principal Shortfalls paid this Period $ -- $ -- $ -- $ --
Unpaid Interest Shortfalls paid this Period $ -- $ -- $ -- $ --
Prepayable Interest $ -- $ -- $ -- $ --
Servicing Fee $ 1,315,790.00 $ 1,315,790.00
----------------- ----------------- ----------------- -----------------
Total Required Distribution $ 3,471,870.83 $ 484,969.11 $ 2,004,686.18 $ 5,961,526.12
================= ================= ================= =================
Total Required Distribution to Class A &
Class B investors $ 3,956,839.94
CASH DISBURSEMENTS
Servicer Payment to trustee for Series 2000-98-1 $ 5,277,441.63
Servicer Payment to trustee for Series 2000-98-2 $ 4,930,858.18
Servicer Payment to trustee for Series 2000-99-1 $ 4,245,064.88
Servicer Payment to trustee for Series 2000-99-2 $ 3,143,692.49
Servicer Payment to trustee for Series 2000-99-3 $ 1,579,375.97
Servicer Payment to trustee for Series 2000-99-4 $ 3,552,494.52
Servicer Payment to trustee for Series 2000-1 $ 5,900,957.64
Servicer Payment to trustee for Series 2000-2 $ 4,645,736.12
------------------
Total Servicer Payment to trustee for all Series' $ 33,275,621.43
==================
Trustee Payment to Series 2000-98-1 Class C $ 840,868.00
Trustee Payment to Series 2000-98-2 Class C $ 784,564.75
Trustee Payment to Series 2000-99-1 Class C $ 671,945.55
Trustee Payment to Series 2000-99-2 Class C $ 503,964.88
Trustee Payment to Series 2000-99-3 Class C $ 251,981.17
Trustee Payment to Series 2000-99-4 Class C $ 559,954.63
Trustee Payment to Series 2000-1 Class C $ 872,598.87
Trustee Payment to Series 2000-2 Class C $ 688,896.18
------------------
Total Trustee Payment to all Class C Investors $ 5,174,774.03
==================