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: $ 2,642,515,677.67
Beginning of the Month Finance Charge Receivables: $ 125,027,951.06
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,767,543,628.73
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 0.00
Additional Finance Charge Receivables: $ 0.00
Additional Total Receivables: $ 0.00
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $ 2,586,368,062.66
End of the Month Finance Charge Receivables: $ 122,607,153.01
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,708,975,215.67
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust II Series) $ 2,300,000,000.00
End of the Month Transferor Amount $ 286,368,062.66
End of the Month Transferor Percentage 11.07%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 60,956,641.78
60-89 Days Delinquent $ 43,310,220.02
90+ Days Delinquent $ 96,555,073.18
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Total 30+ Days Delinquent $ 200,821,934.98
Delinquent Percentage 7.41%
Defaulted Accounts During the Month $ 19,747,856.25
Annualized Default Percentage 8.97%
Principal Collections 353,804,386.57
Principal Payment Rate 13.39%
Total Payment Rate 14.36%
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 22.71%
PRINCIPAL ALLOCATION PERCENTAGE 22.71%
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 80,333,408.76
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COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 9,897,069.16
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 4,483,869.25
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 8,304,713.92
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 8,304,713.92
Class A Monthly Interest $ 2,275,195.00
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $ 3,497,418.01
TOTAL CLASS A EXCESS SPREAD $ 1,947,100.91
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,277,648.32
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 1,277,648.32
Class B Monthly Interest $ 364,530.00
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 823,118.32
CLASS B INVESTOR DEFAULT AMOUNT 538,064.31
CLASS B REQUIRED AMOUNT 538,064.31
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CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE 75,000.00
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 3,759,926.15
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 $ 538,064.31
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 781,161.93
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
Excess Spread Applied to Spread Account $ 2,315,699.91
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 $ 0.00
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EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 145,515.42
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) 8.15%
Base Rate (Prior Month) 8.06%
Base Rate (Two Months Ago) 8.73%
THREE MONTH AVERAGE BASE RATE 8.31%
Portfolio Yield (Current Month) 12.33%
Portfolio Yield (Prior Month) 11.84%
Portfolio Yield (Two Months Ago) 13.48%
THREE MONTH AVERAGE PORTFOLIO YIELD 12.55%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 80,333,408.76
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 $ 80,333,408.76
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
First Vice President