Exibit 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: $ 2,775,718,774.20
Beginning of the Month Finance Charge Receivables: $ 131,434,056.52
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,907,152,830.72
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 266,530,152.83
Additional Finance Charge Receivables: $ 1,516,650.47
Additional Total Receivables: $ 268,046,803.30
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $ 2,970,295,835.51
End of the Month Finance Charge Receivables: $ 125,373,372.08
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 3,095,669,207.59
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $ 2,330,000,000.00
End of the Month Transferor Amount $ 640,295,835.51
End of the Month Transferor Percentage 21.56%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 66,763,348.72
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60-89 Days Delinquent $ 45,265,862.71
90+ Days Delinquent $ 100,255,491.32
Total 30+ Days Delinquent $ 212,284,702.75
Delinquent Percentage 6.86%
Defaulted Accounts During the Month $ 21,296,810.22
Annualized Default Percentage 9.21%
Principal Collections 446,667,733.06
Principal Payment Rate 16.09%
Total Payment Rate 17.13%
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 20.56%
PRINCIPAL ALLOCATION PERCENTAGE 20.56%
Class A Principal Allocation Percentage 78.00%
Class B Principal Allocation Percentage 12.00%
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Class C Principal Allocation Percentage 10.00%
COLLECTIONS OF PRINCIPAL RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 92,288,605.73
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 10,589,371.29
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 4,377,601.93
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 8,844,709.61
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 8,844,709.61
Class A Monthly Interest $ 2,003,625.00
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $ 3,414,529.51
TOTAL CLASS A EXCESS SPREAD $ 2,841,555.10
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,360,724.55
Other Amounts $ 0.00
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TOTAL CLASS B AVAILABLE FUNDS $ 1,360,724.55
Class B Monthly Interest $ 323,250.00
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 947,474.55
CLASS B INVESTOR DEFAULT AMOUNT 525,312.23
CLASS B REQUIRED AMOUNT 525,312.23
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE 75,000.00
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 4,847,966.78
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 $ 525,312.23
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 737,135.19
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
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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 $ 3,460,519.36
EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 9,072,177.56
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
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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) 7.25%
Base Rate (Prior Month) 7.17%
Base Rate (Two Months Ago) 7.19%
THREE MONTH AVERAGE BASE RATE 7.20%
Portfolio Yield (Current Month) 13.92%
Portfolio Yield (Prior Month) 11.48%
Portfolio Yield (Two Months Ago) 11.42%
THREE MONTH AVERAGE PORTFOLIO YIELD 12.27%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 92,288,605.73
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
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EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR PRINCIPAL $ 92,288,605.73
SHARING
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
First Vice President