Exhibit 99.10
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: $ 2,586,368,062.66
Beginning of the Month Finance Charge Receivables: $ 122,607,153.01
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,708,975,215.67
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 174,177,556.64
Additional Finance Charge Receivables: $ 7,160,266.36
Additional Total Receivables: $ 181,337,823.00
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $ 2,705,997,179.62
End of the Month Finance Charge Receivables: $ 126,088,094.43
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,832,085,274.05
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 $ 405,997,179.62
End of the Month Transferor Percentage 15.00%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies:
RECEIVABLES
30-59 Days Delinquent $ 55,970,862.34
60-89 Days Delinquent $ 43,741,927.17
90+ Days Delinquent $ 94,369,854.97
Total 30+ Days Delinquent $ 194,082,644.48
Delinquent Percentage 6.85%
Defaulted Accounts During the Month $ 17,493,851.39
Annualized Default Percentage 8.12%
Principal Collections 361,809,270.20
Principal Payment Rate 13.99%
Total Payment Rate 15.03%
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 23.13%
PRINCIPAL ALLOCATION PERCENTAGE 23.13%
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 83,583,690.96
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD
ALLOCATED TO SERIES 1998-A 10,495,086.55
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 4,046,450.28
CLASS A AVAILABLE FUNDS --
CLASS A FLOATING ALLOCATION PERCENTAGE 78.00%
Class A Finance Charge Collections $ 8,771,167.53
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 8,771,167.53
Class A Monthly Interest $ 2,639,958.75
Class A Servicing Fee $ 585,000.00
Class A Investor Default Amount $ 3,156,231.22
TOTAL CLASS A EXCESS SPREAD $ 2,389,977.56
CLASS A REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING ALLOCATION PERCENTAGE 12.00%
Class B Finance Charge Collections $ 1,349,410.37
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 1,349,410.37
Class B Monthly Interest $ 422,647.50
Class B Servicing Fee $ 90,000.00
TOTAL CLASS B EXCESS SPREAD $ 836,762.87
CLASS B INVESTOR DEFAULT AMOUNT 485,574.03
CLASS B REQUIRED AMOUNT 485,574.03
CLASS C FLOATING ALLOCATION PERCENTAGE 10.00%
CLASS C MONTHLY SERVICING FEE 75,000.00
EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 4,276,249.08
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 $ 485,574.03
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 789,851.28
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 $ 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 $ 2,875,823.77
EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 11,166,258.96
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
YIELD AND BASE RATE --
Base Rate (Current Month) 8.27%
Base Rate (Prior Month) 8.15%
Base Rate (Two Months Ago) 8.06%
THREE MONTH AVERAGE BASE RATE 8.16%
Portfolio Yield (Current Month) 14.40%
Portfolio Yield (Prior Month) 12.33%
Portfolio Yield (Two Months Ago) 11.84%
THREE MONTH AVERAGE PORTFOLIO YIELD 12.86%
PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 83,583,690.96
INVESTOR DEFAULT AMOUNT $ 4,046,450.28
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 $ 87,630,141.24
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