Exhibit 99.10
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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: $ 2,560,653,543.40
Beginning of the Month Finance Charge Receivables: $ 109,535,727.38
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,670,189,270.78
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 133,568,171.87
Additional Finance Charge Receivables: $ 922,650.24
Additional Total Receivables: $ 134,490,822.11
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $ 2,606,297,821.32
End of the Month Finance Charge Receivables: $ 108,344,082.86
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,714,641,904.18
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $ 2,375,000,000.00
End of the Month Transferor Amount $ 231,297,821.32
End of the Month Transferor Percentage 8.87%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 56,689,490.22
60-89 Days Delinquent $ 41,838,760.68
90+ Days Delinquent $ 74,697,798.09
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Total 30+ Days Delinquent $ 173,226,048.99
Delinquent Percentage 6.38%
Defaulted Accounts During the Month $ 10,544,300.69
Annualized Default Percentage 4.94%
Principal Collections 338,980,911.74
Principal Payment Rate 13.24%
Total Payment Rate 14.43%
INVESTED AMOUNTS
Class A Initial Invested Amount $ 370,500,000.00
Class B Initial Invested Amount $ 57,000,000.00
Class C Initial Invested Amount $ 47,500,000.00
INITIAL INVESTED AMOUNT $ 475,000,000.00
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 20.63%
PRINCIPAL ALLOCATION PERCENTAGE 20.63%
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 70,309,828.06
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COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 9,623,281.90
MONTHLY SERVICING FEE $ 882,580.64
INVESTOR DEFAULT AMOUNT $ 2,175,289.23
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 8,291,255.28
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 8,291,255.28
Class A Monthly Interest $ 2,312,373.44
Class A Servicing Fee $ 688,412.90
Class A Investor Default Amount $ 1,696,725.60
TOTAL CLASS A EXCESS SPREAD $ 3,593,743.34
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,275,577.74
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 1,275,577.74
Class B Monthly Interest $ 371,749.76
Class B Servicing Fee $ 105,909.68
TOTAL CLASS B EXCESS SPREAD $ 797,918.30
CLASS B INVESTOR DEFAULT AMOUNT 261,034.71
CLASS B REQUIRED AMOUNT 261,034.71
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CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE 88,258.06
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 5,366,385.04
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 $ 261,034.71
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 559,320.39
Excess Spread Applied to Reductions of
Class C Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash $ 110,322.58
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 $ 4,435,707.36
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EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 19,305,664.73
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) 7.67%
Base Rate (Prior Month) 7.85%
Base Rate (Two Months Ago) 7.91%
THREE MONTH AVERAGE BASE RATE 7.81%
Portfolio Yield (Current Month) 16.91%
Portfolio Yield (Prior Month) 8.76%
Portfolio Yield (Two Months Ago) 9.07%
THREE MONTH AVERAGE PORTFOLIO YIELD 11.58%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 70,309,828.06
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 $ 70,309,828.06
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 H. Klein
-------------------------
Tracie H. Klein
Vice President