EX-20
Partners First Credit Card Master Trust
Monthly Trust Activity
A. Trust Level Activity
Number of Days in Collection Period 31
Beginning Principal Receivables Balance 1,788,793,349.11
Beginning Special Funding Account Balance 0.00
Beginning Principal Receivables + SFA Balance 1,788,793,349.11
Beginning Finance Charge Receivables 54,208,818.28
Beginning Total Receivables 1,843,002,167.39
Special Funding Account Earnings 0.00
Finance Charge Collections 26,745,740.11
Interchange Collections 1,757,303.01
Collection Account Investment Proceeds 0.00
Recoveries treated as Finance Charge Collections 0.00
Total Finance Charge Receivables Collections 28,503,043.12
Principal Receivables Collections 191,542,591.73
Recoveries treated as Principal Collections 1,306,711.85
Total Principal Receivables Collections 192,849,303.58
Monthly Payment Rate (Principal plus Interest divided by Beg. Total Receivables) 11.84%
Defaulted Amount (Net of Recoveries) 10,199,097.92
Additional Defaults due to change in charge-off policy 549,094.37
Annualized Default Rate 7.21%
Trust Portfolio Yield 19.12%
New Principal Receivables 130,838,265.06
Aggregate Account Addition or Removal (Y/N)? N
Date of Addition/Removal n/a
Principal Receivables at the end of the day of Addition/Removal n/a
SFA Balance at the end of the day of Addition/Removal 0.00
Principal Receivables + SFA Balance at the end of the day of Addition/Removal n/a
Percentage of the Collection Period which is before the Addition/Removal Date n/a
Ending Principal Receivables Balance 1,715,661,894.08
Ending Special Funding Account (SFA) Balance 0.00
Ending Principal Receivables + SFA Balance 1,715,661,894.08
Ending Finance Charge Receivables 49,559,889.58
Ending Total Receivables 1,765,221,783.66
Required Minimum Principal Balance 1,605,000,000.00
Transferor Percentage 14.38%
Page 1
Partners First Credit Card Master Trust
Monthly Trust Activity
B. Series Allocations
Total 1998-2 1998-3
Group 1 1
Class A Invested Amount 528,000,000.00 528,000,000.00
Class B Invested Amount 113,000,000.00 113,000,000.00
Collateral Invested Amount 67,000,000.00 67,000,000.00
Class D Invested Amount 42,000,000.00 42,000,000.00
Total Invested Amount 1,500,000,000.00 750,000,000.00 750,000,000.00
Required Transferor Amount 105,000,000.00 52,500,000.00 52,500,000.00
Invested Amount + Req Transf Amount 1,605,000,000.00 802,500,000.00 802,500,000.00
Series Allocation Percentage 100.00% 50.00% 50.00%
Series Allocable Finance Charge Collections 14,251,521.56 14,251,521.56
Series Allocable Principal Collections 96,424,651.79 96,424,651.79
Series Allocable Defaulted Amounts 5,099,548.96 5,099,548.96
Series Allocable Addt'l Defaults due to change in charge-off policy 274,547.18 274,547.18
Series Allocable Servicing Fee 1,250,000.00 1,250,000.00
In Revolving Period? Y Y
Available for Shared Principal Collections 170,816,164.29 85,408,082.14 85,408,082.14
Principal Shortfall 0.00 0.00 0.00
Allocation of Shared Principal Collections 0.00 0.00 0.00
FC Available for other Excess Allocation Series 4,212,544.79 2,106,272.39 2,106,272.39
Finance Charge Shortfall 0.00 0.00 0.00
Allocation of Excess Finance Charge Collections 0.00 0.00 0.00
B. Series Allocations
Amounts Due 1998-2 1998-3
Principal Allocation Percentage 83.86% 83.86%
Floating Allocation Percentage 83.86% 83.86%
Class A Certificate Rate 6.1038% 6.1338%
Class B Certificate Rate 6.3138% 6.3638%
CIA Certificate Rate 6.8788% 6.9788%
CIA Secured Loan Spread Rate 6.6288% 6.7288%
Class D Certificate Rate 0.0000% 0.0000%
Class A Interest 2,954,215.00 2,968,735.00
Class B Interest 653,999.27 659,178.44
Collateral Monthly Interest 422,469.90 428,611.56
Class D Interest 0.00 0.00
Investor Monthly Interest 4,030,684.17 4,056,525.00
Investor Default Amount (Net of Recoveries) 4,550,794.88 4,550,794.88
Interchange Collections 736,796.82 736,796.82
0.75% of Interchange 468,750.00 468,750.00
Servicer Interchange 468,750.00 468,750.00
Monthly Servicing Fee (Before Adjustments) 1,250,000.00 1,250,000.00
Interchange Adjustment 0.00 0.00
SFA Adjustment 0.00 0.00
Monthly Servicing Fee (After Adjustments) 1,250,000.00 1,250,000.00
C. Group 1 Allocations
Total 1998-2 1998-3
Adjusted Invested Amount for Series 1,500,000,000.00 750,000,000.00 750,000,000.00
Principal Collections 161,714,574.53 80,857,287.26 80,857,287.26
Finance Charge Collections 23,901,343.72 11,950,671.86 11,950,671.86
Investor Monthly Interest 8,087,209.17 4,030,684.17 4,056,525.00
Investor Default Amount 9,101,589.76 4,550,794.88 4,550,794.88
Monthly Servicing Fee 2,500,000.00 1,250,000.00 1,250,000.00
Total Amount Due 19,688,798.93 9,831,479.05 9,857,319.88
Excess Before Reallocation 4,212,544.79 2,119,192.81 2,093,351.98
Reallocation of Finance Charge Collections -12,920.42 12,920.42
Dollars of Excess Spread 4,212,544.79 2,106,272.39 2,106,272.39
Percentage Excess Spread 3.37% 3.37% 3.37%
Reallocated Finance Charge Collections 23,901,343.72 11,937,751.44 11,963,592.27
Page 2
Partners First Credit Card Master Trust
Monthly Trust Activity
C. Group 2 Allocations
Total
Beginning Invested Amount After Giving 0.00
Effect to Decrease occurring in monthly period
Principal Collections 0.00
Finance Charge Collections 0.00
Investor Monthly Interest 0.00
Investor Default Amount 0.00
Monthly Servicing Fee 0.00
Total Amount Due 0.00
Excess Before Reallocation 0.00
Reallocation of Finance Charge Collections
Dollars of Excess Spread 0.00
Percentage Excess Spread n/a
Reallocated Finance Charge Collections 0.00
D. Trust Performance
30-59 Days Delinquent 30,460,576.49
60-89 Days Delinquent 20,660,606.54
90+ Days Delinquent 39,449,916.11
Total 30+ Days Delinquent 90,571,099.14
THE FIRST NATIONAL BANK OF ATLANTA
d/b/a Wachovia Bank Card Services
as Servicer
By: Michael L. Scheuerman
Title: Senior Vice President
Page 3
Partners First Credit Card Master Trust
Series 1998-2
A. Investor/Transferor Allocations
B. Monthly Funding Requirements
Last Payment Date 15-Mar-00
Current Payment Date 17-Apr-00
Actual / 360 Days 33 33 33
30 / 360 Days 32 32 32
Fixed / Floating Floating Floating Floating
Collateral Invested
Class A Class B Amount
Certificate Rate 6.10375% 6.31375% 6.87875%
Secured Loan Spread Rate (Applies to CIA only) 6.62875%
Initial Balance 528,000,000.00 113,000,000.00 67,000,000.00
Required Transferor Amount
Total Initial Amount
Beginning Outstanding Amount 528,000,000.00 113,000,000.00 67,000,000.00
Ending Outstanding Amount 528,000,000.00 113,000,000.00 67,000,000.00
Beginning Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00
Ending Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00
Beginning Adjusted Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00
Ending Adjusted Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00
Principal Allocation Percentage 70.40% 15.07% 8.93%
Floating Allocation Percentage 70.40% 15.07% 8.93%
Principal Collections 56,923,530.23 12,182,497.95 7,223,251.00
Realloc Finance Charge Collections 8,404,177.01 1,798,621.22 1,066,439.13
YSA Draw
YSA Investment Proceeds
Realloc Finance Charge plus YSA Draw 8,404,177.01 1,798,621.22 1,066,439.13
Monthly Interest 2,954,215.00 653,999.27 422,469.90
Investor Default Amount (Net) 3,203,759.60 685,653.10 406,537.68
Monthly Servicing Fee 880,000.00 188,333.33 111,666.67
Total Due 7,037,974.60 1,527,985.70 940,674.24
A. Investor/Transferor Allocations
B. Monthly Funding Requirements
Last Payment Date
Current Payment Date
Actual / 360 Days 33
30 / 360 Days 32
Fixed / Floating Floating
Collateral Invested
Class D Total
Certificate Rate 0.00000%
Secured Loan Spread Rate (Applies to CIA only)
Initial Balance 42,000,000.00 750,000,000.00
Required Transferor Amount 52,500,000.00
Total Initial Amount 802,500,000.00
Beginning Outstanding Amount 42,000,000.00 750,000,000.00
Ending Outstanding Amount 42,000,000.00 750,000,000.00
Beginning Invested Amount 42,000,000.00 750,000,000.00
Ending Invested Amount 42,000,000.00 750,000,000.00
Beginning Adjusted Invested Amount 42,000,000.00 750,000,000.00
Ending Adjusted Invested Amount 42,000,000.00 750,000,000.00
Principal Allocation Percentage 5.60% 100.00%
Floating Allocation Percentage 5.60% 100.00%
Principal Collections 4,528,008.09 80,857,287.26
Realloc Finance Charge Collections 668,514.08 11,937,751.44
YSA Draw 0.00
YSA Investment Proceeds 0.00
Realloc Finance Charge plus YSA Draw 668,514.08 11,937,751.44
Monthly Interest 0.00 4,030,684.17
Investor Default Amount (Net) 254,844.51 4,550,794.88
Monthly Servicing Fee 70,000.00 1,250,000.00
Total Due 324,844.51 9,831,479.05
Reallocated Investor Fin Charge
Coll + YSA Draw + PFA Inv Proceeds
+ Reserve Fund Releases 11,937,751.44
Series Adjusted Portfolio Yield 11.82%
Base Rate 7.86%
Page 1
Partners First Credit Card Master Trust
Series 1998-2
Series Parameters
Revolving Period (Y/N) Y
Accumulation Period (Y/N) N
Early Amortization (Y/N) N
Controlled Accumulation Period 6.00
FNBA is Servicer Y
Paydown Excess CIA (Y/N) Y
Paydown Excess Class D (Y/N) Y
Controlled Accumulation Amount 106,833,333.33
Controlled Deposit Amount 106,833,333.33
Ending Controlled Deposit Amount Shortfalll 0.00
Funding Accounts
Beginning Principal Funding Account Balance 0.00
Principal Funding Account Deposit 0.00
Ending Principal Funding Account Balance 0.00
Principal Funding Investment Proceeds 0.00
Yield Supplement Account Beginning Balance 0.00
Yield Supplement Account Release 0.00
Yield Supplement Account Ending Balance 0.00
Reserve Account Beginning Balance 0.00
Required Reserve Account Amount 0.00
Funds Deposited into Reserve Account 0.00
Ending Reserve Account Balance 0.00
C. Certificate Balances and Distrubutions
Class A Class B CIA
Beginning Balance 528,000,000.00 113,000,000.00 67,000,000.00
Interest Distributions 2,954,215.00 653,999.27 422,469.90
PFA Deposits 0.00
Principal Distributions 0.00 0.00 0.00
Total Distributions 2,954,215.00 653,999.27 422,469.90
Ending Certificate Balance 528,000,000.00 113,000,000.00 67,000,000.00
Pool Factor 100.00% 100.00% 100.00%
Total Distribution Per $1,000 5.5951 5.7876 6.3055
Interest Distribution Per $1,000 5.5951 5.7876 6.3055
Principal Distribution Per $1,000 0.0000 0.0000 0.0000
Class D Total
Beginning Balance 42,000,000.00 750,000,000.00
Interest Distributions 0.00 4,030,684.17
PFA Deposits 0.00
Principal Distributions 0.00 0.00
Total Distributions 0.00 4,030,684.17
Ending Certificate Balance 42,000,000.00 750,000,000.00
Pool Factor 100.00%
Total Distribution Per $1,000 0.0000
Interest Distribution Per $1,000 0.0000
Principal Distribution Per $1,000 0.0000
Page 2
Partners First Credit Card Master Trust
Series 1998-2
D. Information regarding distributions on the Distribution Date in respect of the Class A
Certificates per $1,000 original certificate principal amount:
1 Total amount of the distribution: 2,954,215.00
2 Amount of the distribution in respect of Class A Monthly Interest: 2,954,215.00
3 Amount of the distribution in respect of Class A Outstanding Monthly Interest: 0.00
4 Amount of the distribution in respect of Class A Additional Interest: 0.00
5 Amount of the distribution in respect of Class A Principal: 0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs
on such Distribution Date.
1 Total amount of Class A Investor Charge-Offs: 0.00
2 Amount of Class A Investor Charge-Offs 0.00
per $1,000 original certificate principal amount:
3 Total amount reimbursed in respect of Class A Investor Charge-Offs: 0.00
4 Amount reimbursed in respect of Class A Investor Charge-Offs 0.00
per $1,000 original certificate principal amount:
5 The amount, if any, by which the outstanding principal 0.00
balance of the Class A Certificate exceeds the Class A Invested
Amount after giving effect to all transactions on such Distribution Date:
F. Information regarding distributions in respect of the Class B Certificates, per $1,000
original certificate principal amount.
1 The total amount of the distribution: 653,999.27
2 Amount of the distribution in respect of Class B monthly interest: 653,999.27
3 Amount of the distribution in respect of Class B outstanding monthly interest: 0.00
4 Amount of the distribution in respect of Class B additional interest: 0.00
5 Amount of the distribution in respect of Class B principal: 0.00
G. Amount of reductions in Class B Invested Amount on such Distribution Date.
1 The amount of reductions in Class B Invested Amount 0.00
2 The amount of reductions in the Class B Invested Amount set forth in 0.00
paragraph 1 above, per $1,000 original certificate principal amount:
3 The total amount reimbursed in respect of such reductions 0.00
in the Class B Invested Amount:
4 The total amount set forth in paragraph 3 above, per $1,000 0.00
original certificate principal amount:
5 The amount, if any, by which the outstanding principal balance 0.00
of the Class B Certificates exceeds the Class B Invested Amount
after giving effect to all transactions on such Distribution Date:
Page 3
Partners First Credit Card Master Trust
Series 1998-2
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
1 Total amount distributed to the Collateral Interest Holder: 422,469.90
2 Amount distributed in respect of Collateral Monthly Interest: 422,469.90
3 Amount distributed in respect of Collateral Additional Interest: 0.00
4 The amount distributed to the Collateral Interest Holder in respect 0.00
of principal on the Collateral Invested Amount:
I. Amount of reductions in Collateral Invested Amount.
1 The amount of reductions in the Collateral Invested Amount. 0.00
2 The total amount reimbursed in respect of such reductions in the 0.00
Collateral Invested Amount
J. Finance Charge Shortfall Amount
1 Finance Charge Collections Allocated to Series 1998-2 (including YSA) 11,937,751.44
2 Full amount required to be paid pursuant to sections 4.5 and 4.7(excl. Spread Acct.) 9,831,479.05
3 Spread Account Requirement per Loan Agreement 0.00
4 Finance Charge Shortfall 0.00
5 Available for Other Excess Allocation Series 2,106,272.39
K. Application of Reallocated Investor Finance Charge Collections.
Available Due Paid Shortfall
1 Allocated Class A Available Funds 8,404,177.01
a Reserve Account Release 0.00
b PFA Investment Earnings 0.00
c Class A Available Funds 8,404,177.01
2 Class A Available Funds 8,404,177.01
a Class A Monthly Interest 2,954,215.00 2,954,215.00 0.00
b Class A Servicing Fee 880,000.00 880,000.00 0.00
c Class A Investor Default Amount 3,203,759.60 3,203,759.60 0.00
d Class A Excess 1,366,202.42
3 Class B Available Funds 1,798,621.22
a Class B Monthly Interest 653,999.27 653,999.27 0.00
b Class B Servicing Fee 188,333.33 188,333.33 0.00
c Class B Excess 956,288.61
4 Collateral Available Funds 1,066,439.13
a Collateral Servicing Fee 111,666.67 111,666.67 0.00
b Collateral Excess 954,772.46
5 Class D Available Funds 668,514.08
a Class D Servicing Fee 70,000.00 70,000.00 0.00
b Class D Excess 598,514.08
6 Total Excess Spread 3,875,777.57
Page 4
Partners First Credit Card Master Trust
Series 1998-2
L. Application of Excess Spread and Excess Finance Charge Collections
Available Due Paid Shortfall
1 Available Excess Spread 3,875,777.57
2 Excess Fin Charge Coll 0.00
from Other Series
3 Available Funds 3,875,777.57
4 Class A Required Amount Shortfalls 0.00 0.00 0.00
5 Class B Defaults 685,653.10 685,653.10 0.00
6 Monthly Servicing Fee Shortfalls 0.00 0.00 0.00
7 Collateral Monthly Interest 422,469.90 422,469.90 0.00
8 Collateral Default Amount 406,537.68 406,537.68 0.00
9 Reserve Account Deposit 0.00 0.00 0.00
10 Class D Monthly Interest 0.00 0.00 0.00
11 Class D Default Amount 254,844.51 254,844.51 0.00
12 Other CIA Amounts Owed 0.00 0.00 0.00
13 Excess Fin Coll for Other Series 0.00 0.00 0.00
14 Excess Spread 2,106,272.39
15 Writedowns
a Class A 0.00
b Class B 0.00
c CIA 0.00
d Class D 0.00
M. Reallocated Principal Collections
1 Total Principal Collections Allocable 80,857,287.26
2 Principal Required to Fund the Required Amount 0.00
3 Shared Principal Collections from other Series 0.00
4 Other Amounts Treated as Principal Collections 4,550,794.88
5 Available Principal Collections 85,408,082.14
N. Application of Principal Collections during Revolving Period
1 Collateral Invested Amount 67,000,000.00
2 Required Collateral Invested Amount 67,000,000.00
3 Amount used to pay Excess CIA 0.00
4 Available Principal Collections 85,408,082.14
5 Class D 42,000,000.00
6 Required Class D 42,000,000.00
7 Amount used to pay Excess Class D 0.00
8 Available Principal Collections 85,408,082.14
Page 5
Partners First Credit Card Master Trust
Series 1998-2
O. Application of Principal Collections during the Accumulation Period
1 Available Principal Collections 85,408,082.14
a Controlled Deposit Amount 0.00
b Minimum of Avail Prin Coll and CDA 0.00
c Controlled Deposit Amount Shortfall 0.00
d Amount Deposited in PFA for Class A 0.00
e Draw from PFA to pay Class A Principal 0.00
f Class A Adjusted Invested Amount 528,000,000.00
2 Remaining Principal Collections Available 85,408,082.14
a Remaining PFA Balance 0.00
b Beginning Class B Outstanding Amount 113,000,000.00
c Beginning Class B Adjusted Invested Amount 113,000,000.00
d Amount Deposited in PFA for Class B 0.00
e Draw from PFA to pay Class B Principal 0.00
f Class B Adjusted Invested Amount 113,000,000.00
3 Remaining Principal Collections Available 85,408,082.14
a Remaining CIA Amount 67,000,000.00
b Principal Paid to CIA 0.00
c CIA at the end of the Period 67,000,000.00
4 Remaining Principal Collections Available 85,408,082.14
a Remaining Class D Amount 42,000,000.00
b Principal Paid to Class D 0.00
c Class D at the end of the Period 42,000,000.00
Class A Principal Paid to Investors 0.00
Class B Principal Paid to Investors 0.00
CIA Principal Paid to Investors 0.00
Class D Principal Paid to Investors 0.00
Ending Class A Outstanding Amount 528,000,000.00
Ending Class B Outstanding Amount 113,000,000.00
Ending CIA Outstanding Amount 67,000,000.00
Ending Class D Outstanding Amount 42,000,000.00
5 Shared Principal Collections 85,408,082.14
Page 6
Partners First Credit Card Master Trust
Series 1998-2
P. Application of Principal Collections during Early Amortization Period
1 Principal Collections Available 0.00
a Remaining Class A Adjusted Invested Amount 528,000,000.00
b Principal Paid to Class A 0.00
c End of Period Class A Adjusted Invested Amount 528,000,000.00
2 Remaining Principal Collections Available 0.00
a Remaining Class B Adjusted Invested Amount 113,000,000.00
b Principal Paid to Class B 0.00
c End of Period Class B Adjusted Invested Amount 113,000,000.00
3 Remaining Principal Collections Available 0.00
a Remaining Collateral Invested Amount 67,000,000.00
b Principal Paid to CIA 0.00
c Collateral Invested Amount at the end of the Period 67,000,000.00
4 Remaining Principal Collections Available 0.00
a Remaining Class D Amount 42,000,000.00
b Principal Paid to Class D 0.00
c Class D at the end of the Period 42,000,000.00
Q. Yield and Base Rate
1 Base Rate
a Current Monthly Period 7.86%
b Prior Monthly Period 7.75%
c Second Prior Monthly Period 7.66%
Three Month Average Base Rate 7.76%
2 Series Adjusted Portfolio Yield
a Current Monthly Period 11.82%
b Prior Monthly Period 11.38%
c Second Prior Monthly Period 9.85%
Three Month Average Series Adjusted Portfolio Yield 11.01%
3 Excess Spread
a Current Monthly Period 3.96%
b Prior Monthly Period 3.63%
c Second Prior Monthly Period 2.18%
Three Month Average Excess Spread 3.25%
Page 7
Partners First Credit Card Master Trust
Series 1998-3
A. Investor/Transferor Allocations
B. Monthly Funding Requirements
Last Payment Date 15-Mar-00
Current Payment Date 17-Apr-00
Actual / 360 Days 33 33 33 33
30 / 360 Days 32 32 32 32
Fixed / Floating Floating Floating Floating Floating
Collateral Invested
Class A Class B Amount Class D
Certificate Rate 6.13375% 6.36375% 6.97875% 0.00000%
Secured Loan Spread Rate (Applies to CIA only) 6.72875%
Initial Balance 528,000,000.00 113,000,000.00 67,000,000.00 42,000,000.00
Required Transferor Amount
Total Initial Amount
Beginning Outstanding Amount 528,000,000.00 113,000,000.00 67,000,000.00 42,000,000.00
Ending Outstanding Amount 528,000,000.00 113,000,000.00 67,000,000.00 42,000,000.00
Beginning Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00 42,000,000.00
Ending Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00 42,000,000.00
Beginning Adjusted Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00 42,000,000.00
Ending Adjusted Invested Amount 528,000,000.00 113,000,000.00 67,000,000.00 42,000,000.00
Principal Allocation Percentage 70.40% 15.07% 8.93% 5.60%
Floating Allocation Percentage 70.40% 15.07% 8.93% 5.60%
Principal Collections 56,923,530.23 12,182,497.95 7,223,251.00 4,528,008.09
Realloc Finance Charge Collections 8,422,368.96 1,802,514.57 1,068,747.58 669,961.17
YSA Draw
YSA Investment Proceeds
Realloc Finance Charge plus YSA Draw 8,422,368.96 1,802,514.57 1,068,747.58 669,961.17
Monthly Interest 2,968,735.00 659,178.44 428,611.56 0.00
Investor Default Amount (Net) 3,203,759.60 685,653.10 406,537.68 254,844.51
Monthly Servicing Fee 880,000.00 188,333.33 111,666.67 70,000.00
Total Due 7,052,494.60 1,533,164.87 946,815.91 324,844.51
A. Investor/Transferor Allocations
B. Monthly Funding Requirements
Last Payment Date
Current Payment Date
Actual / 360 Days
30 / 360 Days
Fixed / Floating
Total
Certificate Rate
Secured Loan Spread Rate (Applies to CIA only)
Initial Balance 750,000,000.00
Required Transferor Amount 52,500,000.00
Total Initial Amount 802,500,000.00
Beginning Outstanding Amount 750,000,000.00
Ending Outstanding Amount 750,000,000.00
Beginning Invested Amount 750,000,000.00
Ending Invested Amount 750,000,000.00
Beginning Adjusted Invested Amount 750,000,000.00
Ending Adjusted Invested Amount 750,000,000.00
Principal Allocation Percentage 100.00%
Floating Allocation Percentage 100.00%
Principal Collections 80,857,287.26
Realloc Finance Charge Collections 11,963,592.27
YSA Draw 0.00
YSA Investment Proceeds 0.00
Realloc Finance Charge plus YSA Draw 11,963,592.27
Monthly Interest 4,056,525.00
Investor Default Amount (Net) 4,550,794.88
Monthly Servicing Fee 1,250,000.00
Total Due 9,857,319.88
Reallocated Investor Fin Charge Coll
+ YSA Draw + PFA Inv Proceeds +
Reserve Fund Releases 11,963,592.27
Series Adjusted Portfolio Yield 11.86%
Base Rate 7.90%
Page 1
Partners First Credit Card Master Trust
Series 1998-3
Series Parameters
Revolving Period (Y/N) Y
Accumulation Period (Y/N) N
Early Amortization (Y/N) N
Controlled Accumulation Period 6.00
FNBA is Servicer Y
Paydown Excess CIA (Y/N) Y
Paydown Excess Class D (Y/N) Y
Controlled Accumulation Amount 106,833,333.33
Controlled Deposit Amount 106,833,333.33
Ending Controlled Deposit Amount Shortfalll 0.00
Funding Accounts
Beginning Principal Funding Account Balance 0.00
Principal Funding Account Deposit 0.00
Ending Principal Funding Account Balance 0.00
Principal Funding Investment Proceeds 0.00
Yield Supplement Account Beginning Balance 0.00
Yield Supplement Account Release 0.00
Yield Supplement Account Ending Balance 0.00
Reserve Account Beginning Balance 0.00
Required Reserve Account Amount 0.00
Funds Deposited into Reserve Account 0.00
Ending Reserve Account Balance 0.00
C. Certificate Balances and Distrubutions
Class A Class B CIA
Beginning Balance 528,000,000.00 113,000,000.00 67,000,000.00
Interest Distributions 2,968,735.00 659,178.44 428,611.56
PFA Deposits 0.00
Principal Distributions 0.00 0.00 0.00
Total Distributions 2,968,735.00 659,178.44 428,611.56
Ending Certificate Balance 528,000,000.00 113,000,000.00 67,000,000.00
Pool Factor 100.00% 100.00% 100.00%
Total Distribution Per $1,000 5.6226 5.8334 6.3972
Interest Distribution Per $1,000 5.6226 5.8334 6.3972
Principal Distribution Per $1,000 0.0000 0.0000 0.0000
Class D Total
Beginning Balance 42,000,000.00 750,000,000.00
Interest Distributions 0.00 4,056,525.00
PFA Deposits 0.00
Principal Distributions 0.00 0.00
Total Distributions 0.00 4,056,525.00
Ending Certificate Balance 42,000,000.00 750,000,000.00
Pool Factor 100.00%
Total Distribution Per $1,000 0.0000
Interest Distribution Per $1,000 0.0000
Principal Distribution Per $1,000 0.0000
Page 2
Partners First Credit Card Master Trust
Series 1998-3
D. Information regarding distributions on the Distribution Date in respect of the Class A
Certificates per $1,000 original certificate principal amount:
1 Total amount of the distribution: 2,968,735.00
2 Amount of the distribution in respect of Class A Monthly Interest: 2,968,735.00
3 Amount of the distribution in respect of Class A Outstanding Monthly Interest: 0.00
4 Amount of the distribution in respect of Class A Additional Interest: 0.00
5 Amount of the distribution in respect of Class A Principal: 0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs
on such Distribution Date.
1 Total amount of Class A Investor Charge-Offs: 0.00
2 Amount of Class A Investor Charge-Offs 0.00
per $1,000 original certificate principal amount:
3 Total amount reimbursed in respect of Class A Investor Charge-Offs: 0.00
4 Amount reimbursed in respect of Class A Investor Charge-Offs 0.00
per $1,000 original certificate principal amount:
5 The amount, if any, by which the outstanding principal 0.00
balance of the Class A Certificate exceeds the Class A Invested
Amount after giving effect to all transactions on such Distribution Date:
F. Information regarding distributions in respect of the Class B Certificates, per $1,000
original certificate principal amount.
1 The total amount of the distribution: 659,178.44
2 Amount of the distribution in respect of Class B monthly interest: 659,178.44
3 Amount of the distribution in respect of Class B outstanding monthly interest: 0.00
4 Amount of the distribution in respect of Class B additional interest: 0.00
5 Amount of the distribution in respect of Class B principal: 0.00
G. Amount of reductions in Class B Invested Amount on such Distribution Date.
1 The amount of reductions in Class B Invested Amount 0.00
2 The amount of reductions in the Class B Invested Amount set forth in 0.00
paragraph 1 above, per $1,000 original certificate principal amount:
3 The total amount reimbursed in respect of such reductions 0.00
in the Class B Invested Amount:
4 The total amount set forth in paragraph 3 above, per $1,000 0.00
original certificate principal amount:
5 The amount, if any, by which the outstanding principal balance 0.00
of the Class B Certificates exceeds the Class B Invested Amount
after giving effect to all transactions on such Distribution Date:
Page 3
Partners First Credit Card Master Trust
Series 1998-3
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
1 Total amount distributed to the Collateral Interest Holder: 428,611.56
2 Amount distributed in respect of Collateral Monthly Interest: 428,611.56
3 Amount distributed in respect of Collateral Additional Interest: 0.00
4 The amount distributed to the Collateral Interest Holder in respect 0.00
of principal on the Collateral Invested Amount:
I. Amount of reductions in Collateral Invested Amount.
1 The amount of reductions in the Collateral Invested Amount. 0.00
2 The total amount reimbursed in respect of such reductions in the 0.00
Collateral Invested Amount
J. Finance Charge Shortfall Amount
1 Finance Charge Collections Allocated to Series 1998-2 (including YSA) 11,963,592.27
2 Full amount required to be paid pursuant to sections 4.5 and 4.7(excl. Spread Acct.) 9,857,319.88
3 Spread Account Requirement per Loan Agreement 0.00
4 Finance Charge Shortfall 0.00
5 Available for Other Excess Allocation Series 2,106,272.39
K. Application of Reallocated Investor Finance Charge Collections.
Available Due Paid
1 Allocated Class A Available Funds 8,422,368.96
a Reserve Account Release 0.00
b PFA Investment Earnings 0.00
c Class A Available Funds 8,422,368.96
2 Class A Available Funds 8,422,368.96
a Class A Monthly Interest 2,968,735.00 2,968,735.00
b Class A Servicing Fee 880,000.00 880,000.00
c Class A Investor Default Amount 3,203,759.60 3,203,759.60
d Class A Excess 1,369,874.37
3 Class B Available Funds 1,802,514.57
a Class B Monthly Interest 659,178.44 659,178.44
b Class B Servicing Fee 188,333.33 188,333.33
c Class B Excess 955,002.80
4 Collateral Available Funds 1,068,747.58
a Collateral Servicing Fee 111,666.67 111,666.67
b Collateral Excess 957,080.91
5 Class D Available Funds 669,961.17
a Class D Servicing Fee 70,000.00 70,000.00
b Class D Excess 599,961.17
6 Total Excess Spread 3,881,919.24
Shortfall
1 Allocated Class A Available Funds
a Reserve Account Release
b PFA Investment Earnings
c Class A Available Funds
2 Class A Available Funds
a Class A Monthly Interest 0.00
b Class A Servicing Fee 0.00
c Class A Investor Default Amount 0.00
d Class A Excess
3 Class B Available Funds
a Class B Monthly Interest 0.00
b Class B Servicing Fee 0.00
c Class B Excess
4 Collateral Available Funds
a Collateral Servicing Fee 0.00
b Collateral Excess
5 Class D Available Funds
a Class D Servicing Fee 0.00
b Class D Excess
6 Total Excess Spread
Page 4
Partners First Credit Card Master Trust
Series 1998-3
L. Application of Excess Spread and Excess Finance Charge Collections
Available Due Paid Shortfall
1 Available Excess Spread 3,881,919.24
2 Excess Fin Charge Coll 0.00
from Other Series
3 Available Funds 3,881,919.24
4 Class A Required Amount Shortfalls 0.00 0.00 0.00
5 Class B Defaults 685,653.10 685,653.10 0.00
6 Monthly Servicing Fee Shortfalls 0.00 0.00 0.00
7 Collateral Monthly Interest 428,611.56 428,611.56 0.00
8 Collateral Default Amount 406,537.68 406,537.68 0.00
9 Reserve Account Deposit 0.00 0.00 0.00
10 Class D Monthly Interest 0.00 0.00 0.00
11 Class D Default Amount 254,844.51 254,844.51 0.00
12 Other CIA Amounts Owed 0.00 0.00 0.00
13 Excess Fin Coll for Other Series 0.00 0.00 0.00
14 Excess Spread 2,106,272.39
15 Writedowns
a Class A 0.00
b Class B 0.00
c CIA 0.00
d Class D 0.00
M. Reallocated Principal Collections
1 Total Principal Collections Allocable 80,857,287.26
2 Principal Required to Fund the Required Amount 0.00
3 Shared Principal Collections from other Series 0.00
4 Other Amounts Treated as Principal Collections 4,550,794.88
5 Available Principal Collections 85,408,082.14
N. Application of Principal Collections during Revolving Period
1 Collateral Invested Amount 67,000,000.00
2 Required Collateral Invested Amount 67,000,000.00
3 Amount used to pay Excess CIA 0.00
4 Available Principal Collections 85,408,082.14
5 Class D 42,000,000.00
6 Required Class D 42,000,000.00
7 Amount used to pay Excess Class D 0.00
8 Available Principal Collections 85,408,082.14
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Partners First Credit Card Master Trust
Series 1998-3
O. Application of Principal Collections during the Accumulation Period
1 Available Principal Collections 85,408,082.14
a Controlled Deposit Amount 0.00
b Minimum of Avail Prin Coll and CDA 0.00
c Controlled Deposit Amount Shortfall 0.00
d Amount Deposited in PFA for Class A 0.00
e Draw from PFA to pay Class A Principal 0.00
f Class A Adjusted Invested Amount 528,000,000.00
2 Remaining Principal Collections Available 85,408,082.14
a Remaining PFA Balance 0.00
b Beginning Class B Outstanding Amount 113,000,000.00
c Beginning Class B Adjusted Invested Amount 113,000,000.00
d Amount Deposited in PFA for Class B 0.00
e Draw from PFA to pay Class B Principal 0.00
f Class B Adjusted Invested Amount 113,000,000.00
3 Remaining Principal Collections Available 85,408,082.14
a Remaining CIA Amount 67,000,000.00
b Principal Paid to CIA 0.00
c CIA at the end of the Period 67,000,000.00
4 Remaining Principal Collections Available 85,408,082.14
a Remaining Class D Amount 42,000,000.00
b Principal Paid to Class D 0.00
c Class D at the end of the Period 42,000,000.00
Class A Principal Paid to Investors 0.00
Class B Principal Paid to Investors 0.00
CIA Principal Paid to Investors 0.00
Class D Principal Paid to Investors 0.00
Ending Class A Outstanding Amount 528,000,000.00
Ending Class B Outstanding Amount 113,000,000.00
Ending CIA Outstanding Amount 67,000,000.00
Ending Class D Outstanding Amount 42,000,000.00
5 Shared Principal Collections 85,408,082.14
Page 6
Partners First Credit Card Master Trust
Series 1998-3
P. Application of Principal Collections during Early Amortization Period
1 Principal Collections Available 0.00
a Remaining Class A Adjusted Invested Amount 528,000,000.00
b Principal Paid to Class A 0.00
c End of Period Class A Adjusted Invested Amount 528,000,000.00
2 Remaining Principal Collections Available 0.00
a Remaining Class B Adjusted Invested Amount 113,000,000.00
b Principal Paid to Class B 0.00
c End of Period Class B Adjusted Invested Amount 113,000,000.00
3 Remaining Principal Collections Available 0.00
a Remaining Collateral Invested Amount 67,000,000.00
b Principal Paid to CIA 0.00
c Collateral Invested Amount at the end of the Period 67,000,000.00
4 Remaining Principal Collections Available 0.00
a Remaining Class D Amount 42,000,000.00
b Principal Paid to Class D 0.00
c Class D at the end of the Period 42,000,000.00
Q. Yield and Base Rate
1 Base Rate
a Current Monthly Period 7.90%
b Prior Monthly Period 7.79%
c Second Prior Monthly Period 7.70%
Three Month Average Base Rate 7.80%
2 Series Adjusted Portfolio Yield
a Current Monthly Period 11.86%
b Prior Monthly Period 11.41%
c Second Prior Monthly Period 9.88%
Three Month Average Series Adjusted Portfolio Yield 11.05%
3 Excess Spread
a Current Monthly Period 3.96%
b Prior Monthly Period 3.62%
c Second Prior Monthly Period 2.18%
Three Month Average Excess Spread 3.25%
Page 7