MONTHLY STATEMENT
---------------------------------------------
CHASE USA MASTER TRUST (FORMERLY KNOWN AS PROVIDIAN MASTER TRUST)
SERIES 1997-2
---------------------------------------------
Pursuant to the Pooling and Servicing Agreement dated as of June 1,
1993 (as amended and restated on February 5, 2002, "the Agreement"), as
supplemented by the Series 1997-2 Supplement dated as of March 1, 1997 (as
amended and supplemented, the "Series Supplement"), between Card Acquisition
Funding LLC as Transferor, Chase Manhattan Bank USA, National Association as
Servicer, and The Bank of New York, Trustee, Chase Manhattan Bank USA, National
Association as Servicer is required to prepare certain information each month
regarding current distributions to Class A Certificateholders, Class B
Certificateholders and the Collateral Interest Holder and the performance of the
Chase USA Master Trust (the "Trust") during the previous month. The information
which is required to be prepared for the Series 1997-2 Certificates with respect
to the Distribution Date occurring on September 15, 2003, and with respect to
the performance of the Trust during the month of August is set forth below.
Certain of the information is presented on the basis of an original principal
amount of $1,000 per Investor Certificate. Certain other information is
presented based on the aggregate amounts for the Trust as a whole. Capitalized
terms used in this Certificate have their respective meanings set forth in the
Agreement or Series Supplement as applicable.
A) Information Regarding the Current Monthly Distribution for the Series
1997-2 Class A Certificates and Class B Certificates (stated on the
basis of $1,000 original certificate principal amount)
(1) The total amount distributed to Class A
Certificateholders per $1,000 original
certificate principal amount $1.050556
(2) The amount set forth in A(1) above
distributed to Class A Certificateholders
with respect to interest per $1,000
original certificate principal amount $1.050556
(3) The amount set forth in A(1) above
distributed to Class A Certificateholders
with respect to principal per $1,000
original certificate principal amount $0.000000
(4) The total amount distributed to Class B
Certificateholders per $1,000 original
certificate principal amount $1.222778
(5) The amount set forth in A(4) above
distributed to Class B Certificateholders
with respect to interest per $1,000
original certificate principal amount $1.222778
(6) The amount set forth in A(4) above
distributed to Class B Certificateholders
with respect to principal per $1,000
original certificate principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the
Series 1997-2 Certificates
(a) The aggregate amount of Finance
Charge Receivables collected
during the Monthly Period
immediately preceding the
Distribution Date $73,945,000.20
(b) The aggregate amount of
Interchange collected and
allocated to the Trust for the
Monthly Period immediately
preceding the Distribution Date $5,468,187.38
1
-------------------------------------
Series 1997-2 Monthly Statement
September 15, 2003 Distribution Date
-------------------------------------
(c) The aggregate amount of Principal
Receivables collected during the
Monthly Period immediately
preceding the Distribution Date $496,326,063.11
(d) The Floating Allocation
Percentage with respect to the
Series 1997-2 Certificates for
the Monthly Period immediately
preceding the Distribution Date 9.072430%
(e) The Principal Allocation
Percentage with respect to the
Series 1997-2 Certificates for
the Monthly Period immediately
preceding the Distribution Date 12.008512%
(f) The Finance Charge Receivables
and Interchange collected and
allocated to the Series 1997-2
Certificates for the Monthly
Period immediately preceding the
Distribution Date $7,204,706.24
(g) The Principal Receivables
collected and allocated to the
Series 1997-2 Certificates for
the Monthly Period immediately
preceding the Distribution Date $59,601,372.65
(2) Available Finance Charge Collections,
Required Draw Amount and Reallocated
Principal Collections for Series 1997-2
for the Monthly Period immediately
preceding the Distribution Date
(a) The Finance Charge Receivables
and Interchange collected and
allocated to the Series 1997-2
Certificates $7,204,706.24
(b) Collection Account and Special
Funding Account investment
earnings allocated to the Series
1997-2 Certificates $0.00
(c) Principal Funding Account
Investment Proceeds $114,767.74
(d) Cash Collateral Account
Investment Proceeds $14,439.33
(e) Reserve Draw Amount, if applicable $0.00
(f) Additional Finance Charges from
other Series allocated to the
Series 1997-2 Certificates $0.00
(g) Payments, if any, on deposit as
of the Determination Date
received from any Interest Rate
Protection Agreements $0.00
(h) Required Draw Amount, if applicable $0.00
(i) Reallocated Collateral Principal
Collections $0.00
(j) Reallocated Class B Principal
Collections $0.00
(k) Total Available Finance Charge
Collections and Reallocated
Principal Collections for Series
1997-2 (total of (a), (b), (c),
(d), (e), (f), (g), (h), (i) and
(j) above) $7,333,913.31
2
-------------------------------------
Series 1997-2 Monthly Statement
September 15, 2003 Distribution Date
-------------------------------------
(3) Available Principal Collections for Series
1997-2 for the Monthly Period immediately
preceding the Distribution Date
(a) The Principal Receivables
collected and allocated to the
Series 1997-2 Certificates $59,601,372.65
(b) Shared Principal Collections from
other Series allocated to the
Series 1997-2 Certificates $0.00
(c) Additional amounts to be treated
as Available Principal
Collections pursuant to the
Series Supplement $3,466,317.61
(d) Reallocated Collateral Principal
Collections $0.00
(e) Reallocated Class B Principal
Collections $0.00
(f) Available Principal Collections
for Series 1997-2 (total of (a),
(b) and (c) minus (d) and (e) above) $63,067,690.26
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts which were
delinquent as of the close of business on the last day of
the Monthly Period immediately preceding the Distribution
Date.
(a) 30-59 days $111,537,798
(b) 60-89 days 72,097,108
(c) 90 or more days 146,805,828
------------
(d) Total Delinquencies $330,440,734
(5) Defaulted Amount
(a) The aggregate amount of Defaulted
Receivables with respect to the
Trust for the Monthly Period
immediately preceding the
Distribution Date $47,850,391.43
(b) The aggregate Amount of
Recoveries of Defaulted
Receivables processed during the
Monthly Period immediately
preceding the Distribution Date $9,643,236.01
(c) The Defaulted Amount for the
Monthly Period immediately
preceding the Distribution Date
[Defaulted Receivables minus
Recoveries] $38,207,155.42
(d) The Defaulted Amount for the
Monthly Period immediately
preceding the Distribution Date
allocable to the Series 1997-2
Certificates (the "Series 1997-2
Defaulted Amount") $3,466,317.61
(e) The Class A Defaulted Amount
[Series 1997-2 Defaulted Amount
multiplied by the Class A
Percentage] $2,617,517.14
(f) The Class B Defaulted Amount
[Series 1997-2 Defaulted Amount
multiplied by the Class B
Percentage] $435,870.51
3
-------------------------------------
Series 1997-2 Monthly Statement
September 15, 2003 Distribution Date
-------------------------------------
(6) Class A Charge-Offs
(a) The excess, if any, of the Class
A Defaulted Amount over the sum
of (i) Available Finance Charge
Collections applied to such Class
A Defaulted Amount, (ii) the
Available Cash Collateral Amount
applied to such Class A Defaulted
Amount, (iii) Reallocated
Principal Collections applied to
such Class A Defaulted Amount,
(iv) the amount by which the
Collateral Invested Amount has
been reduced in respect of such
Class A Defaulted Amount and (v)
the amount by which the Class B
Invested Amount has been reduced
in respect of such Class A
Defaulted Amount (a "Class A
Charge-Off") $0.00
(b) The amount of the Class A
Charge-Off set forth in item 6(a)
above, per $1,000 original
certificate principal amount
(which will have the effect of
reducing, pro rata, the amount of
each Class A Certificateholder's
investment) $0.000000
(c) The total amount reimbursed on
the Distribution Date in respect
of Class A Charge-Offs for prior
Distribution Dates $0.00
(d) The amount set forth in item 6(c)
above per $1,000 original
certificate principal amount
(which will have the effect of
increasing, pro rata, the amount
of each Class A Certificateholder's
investment) $0.000000
(e) The amount, if any, by which the
outstanding principal balance of
the Class A Certificates exceeds
the Class A Invested Amount if
any, as of the Distribution Date,
after giving effect to all
deposits, withdrawals and
distributions on such
Distribution Date $0.00
(7) Class B Charge-Offs
(a) The excess, if any, of the Class
B Defaulted Amount over the sum
of (i) Available Finance Charge
Collections applied to such Class
B Defaulted Amount applied to
such Class B Defaulted Amount,
(ii) the Available Cash
Collateral Amount, (iii)
Reallocated Collateral Principal
Collections applied to such Class
B Defaulted Amount and (iv) the
amount by which the Collateral
Invested Amount has been reduced
in respect of such Class B
Defaulted Amount $0.00
(b) The amount by which the Class B
Invested Amount has been reduced
on the Distribution Date in
respect of Reallocated Class B
Principal Collections $0.00
(c) The amount by which the Class B
Invested Amount has been reduced
on the Distribution Date in
respect of item 6(a) (together
with item 7(a), "Class B
Charge-Offs") $0.00
(d) The total amount by which the
Class B Invested Amount has been
reduced on the Distribution Date
as set forth in items 7(a), (b)
and(C) $0.00
(e) The amount set forth in item 7(d)
above per $1,000 original
certificate principal amount
(which will have the effect of
reducing, pro rata, the amount of
each Class B Certificateholder's
investment) $0.000000
4
-------------------------------------
Series 1997-2 Monthly Statement
September 15, 2003 Distribution Date
-------------------------------------
(f) The total amount reimbursed on
the Distribution Date in respect
of reductions in the Class
B Invested Amount on prior
Distribution Date $0.00
(g) The amount set forth in item 7(f)
above per $1,000 original
certificate principal amount
(which will have the effect of
increasing, pro rata, the amount
of each Class B Certificateholder's
investment) $0.000000
(h) The amount, if any, by which the
outstanding principal balance of
the Class B Certificates exceeds
the Class B Invested Amount if
any, as of the Distribution Date,
after giving effect to all
deposits, withdrawals and
distributions on such
Distribution Date $0.00
(8) Reductions in the Collateral Interest
(a) The excess, if any, of the
Collateral Defaulted Amount over
Available Finance Charge
Collections applied to such
Collateral Defaulted Amount $0.00
(b) The amount by which the
Collateral Invested Amount has
been reduced on the Distribution
Date in respect of Reallocated
Principal Collections $0.00
(c) The amount by which the
Collateral Invested Amount has
been reduced on the Distribution
Date in respect of items 6(a) and
7(a) above $0.00
(d) The total amount by which the
Collateral Invested Amount has
been reduced on the Distribution
Date as set forth in items 8(a),
(b) and (c) $0.00
(e) The total amount reimbursed on
the Distribution Date in respect
of reductions in the Collateral
Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of
the Collateral Interest exceeds
the Collateral Invested Amount,
if any, as of the Distribution
Date, after giving effect to all
deposits, withdrawals and distributions
on the Distribution Date $0.00
(9) Investor Monthly Servicing Fee
(a) The amount of the Series 1997-2
Monthly Servicing Fee payable to
the Servicer on the Distribution
Date $881,416.67
(10) Cash Collateral Account
(a) The Available Cash Collateral
Amount on the Distribution Date,
after giving effect to all
deposits, withdrawals and
distributions on such
Distribution Date $21,000,000.00
(11) Class A Monthly Interest
(a) Class A Monthly Interest payable
on the Distribution Date $599,341.94
5
-------------------------------------
Series 1997-2 Monthly Statement
September 15, 2003 Distribution Date
-------------------------------------
(12) Class B Monthly Interest
(a) Class B Monthly Interest payable
on the Distribution Date $81,314.72
(13) Principal Funding Account Amount
(a) The amount on deposit in the
Principal Funding Account on the
Distribution Date, after giving
effect to all deposits,
withdrawals and distributions on
such Distribution Date $228,200,000.00
(b) Deposits to the Principal Funding
Account are currently scheduled
to commence on the Distribution
Date occurring in June 2003. (The
initial funding date for the
Principal Funding Account may be
modified in certain circumstances
in accordance with the terms of
the Series Supplement.)
(14) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount
for the Distribution Date, after giving
effect to all deposits, withdrawals and
distributions on such Distribution Date $0.00
(15) Reserve Account (if applicable)
(a) The amount on deposit in the
Reserve Account, if funded, on
the Distribution Date, after
giving effect to all deposits,
withdrawals and distributions on
such Distribution Date and the
related Transfer Date $2,852,500.00
(b) The Required Reserve Account
Amount, if any, selected by the
Servicer $2,852,500.00
(C) Class A Invested Amount
(1) The Class A Initial Invested Amount $570,500,000.00
(2) The Class A Invested Amount on the
Distribution Date, after giving effect to
all deposits, withdrawals and distributions
on such Distribution Date $570,500,000.00
(3) The Pool Factor for the Distribution Date
(which represents the ratio of the Class A
Invested Amount, as of such Distribution
Date, after giving effect to any
adjustment in the Class A Invested Amount
on such Distribution Date, to the Class A
Initial Invested Amount). The amount of a
Class A Certificateholder's pro rata share
of the Class A Invested Amount can be
determined by multiplying the original
denomination of the Class A Certificateholder's
Certificate by the Pool Factor 1.000000
D) Class B Invested Amount
(1) The Class B Initial Invested Amount $66,500,000.00
(2) The Class B Invested Amount on the
Distribution Date, after giving effect to
all deposits, withdrawals and distributions
on such Distribution Date $66,500,000.00
6
-------------------------------------
Series 1997-2 Monthly Statement
September 15, 2003 Distribution Date
-------------------------------------
(3) The Pool Factor for the Distribution Date
(which represents the ratio of the Class B
Invested Amount, as of such Distribution
Date, after giving effect to any
adjustment in the Class B Invested Amount
on such Distribution Date, to the Class B
Initial Invested Amount). The amount of a
Class B Certificateholder's pro rata share
of the Class B Invested Amount can be
determined by multiplying the original
denomination of the Class B Certificateholder's
Certificate by the Pool Factor 1.0000
E) Collateral Invested Amount
(1) The Collateral Initial Invested Amount $63,000,000.00
(2) The Collateral Invested Amount on the
Distribution Date, after giving effect to
all deposits, withdrawals and distributions
on such Distribution Date $63,000,000.00
(3) The Collateral Invested Amount as a
percentage of the sum of the Invested
Amount on such Distribution Date 9.00%
F) Receivables Balances
(1) The aggregate amount of Principal
Receivables in the Trust at the close of
business on the last day of the
immediately preceding Monthly Period $5,730,248,540
(2) The aggregate amount of Finance Charge
Receivables in the Trust at the close of
business on the last day of the
immediately preceding Monthly Period $215,155,619
G) Annualized Percentages
(1) The Gross Yield (Available Finance Charge
Collections for the Series 1997-2
Certificates for the preceding Monthly
Period (excluding payments received from
Interest Rate Protection Agreements)
divided by the Invested Amount of the
Series 1997-2 Certificates as of the last
day of the next preceding Monthly Period,
multiplied by 365 days divided by number
of calendar days in the month.) Effective
November 2002 monthly period. 12.34%
(2) The Net Loss Rate (the Series 1997-2
Defaulted Amount for the preceding Monthly
Period divided by the Invested Amount of
the Series 1997-2 Certificates as of the
last day of the next preceding Monthly
Period, multiplied by 12) 5.94%
(3) The Portfolio Yield (the Gross Yield minus
the Net Loss Rate for the Series 1997-2
Certificates for the preceding Monthly
Period) 6.40%
(4) The Base Rate (Monthly Interest plus
Monthly Servicing Fee (based on an assumed
Servicing Fee Rate of 2% per annum) for
the preceding Monthly Period with respect
to the related Distribution Date, divided
by the Invested Amount of the Series
1997-2 Certificates as of the last day of
the next preceding Monthly Period,
multiplied by 12) 2.85%
(5) The Net Spread (the Portfolio Yield minus
the Base Rate for the Series 1997-2
Certificates for the preceding Monthly
Period) 3.55%
7
-------------------------------------
Series 1997-2 Monthly Statement
September 15, 2003 Distribution Date
-------------------------------------
(6) The Monthly Payment Rate (Collections of
Principal Receivables and Finance Charge
Receivables with respect to all
Receivables in the Trust for the preceding
Monthly Period divided by the amount of
Receivables in the Trust as of the last
day of the next preceding Monthly Period) 9.53%
H) Series 1997-2 Information for the Last Three Distribution
Dates
1) Gross Yield
a) 09/15/03 12.34%
b) 08/15/03 13.86%
c) 07/15/03 15.52%
2) Net Loss Rate
a) 09/15/03 5.94%
b) 08/15/03 6.11%
c) 07/15/03 7.54%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 09/15/03 3.55%
b) 08/15/03 4.74%
c) 07/15/03 4.83%
Three Month Average 4.37%
4) Monthly Payment Rate
a) 09/15/03 9.53%
b) 08/15/03 9.62%
c) 07/15/03 9.67%
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Servicer
By:
-------------------------------------------
Name: Patricia Garvey
Title: Vice President
8
MONTHLY STATEMENT
---------------------------------------------
CHASE USA MASTER TRUST (FORMERLY KNOWN AS PROVIDIAN MASTER TRUST)
SERIES 1999-1
---------------------------------------------
Pursuant to the Pooling and Servicing Agreement dated as of June 1,
1993 (as amended and restated on February 5, 2002, the "Agreement"), as
supplemented by the Series 1999-1 Supplement dated as of June 1, 1999 (as
amended and supplemented, the "Series Supplement"), between Card Acquisition
Funding LLC as Transferor, Chase Manhattan Bank USA, National Association as
Servicer, and The Bank of New York, as Trustee, Chase Manhattan Bank USA,
Nationial Association as Servicer is required to prepare certain information
each month regarding current distributions to Class A Certificateholders, Class
B Certificateholders, Collateral Interest Holder and the Class D
Interest Holder and the performance of the Chase USA Master Trust (the "Trust")
during the previous month. The information which is required to be prepared for
the Series 1999-1 Certificates with respect to the Distribution Date occurring
on September 15, 2003, and with respect to the performance of the Trust during
the month of August is set forth below. Certain of the information is presented
on the basis of an original principal amount of $1,000 per Investor Certificate.
Certain other information is presented based on the aggregate amounts for the
Trust as a whole. Capitalized terms used in this Certificate have their
respective meanings set forth in the Agreement or Series Supplement, as
applicable.
A) Information Regarding the Current Monthly Distribution for
the Series 1999-1 Class A Certificates and Class B
Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Class A
Certificateholders per $1,000 original certificate
principal amount $1.153889
(2) The amount set forth in A(1) above distributed to
Class A Certificateholders with respect to interest
per $1,000 original certificate principal amount $1.153889
(3) The amount set forth in A(1) above distributed to
Class A Certificateholders with respect to principal
per $1,000 original certificate principal amount $0.000000
(4) The total amount distributed to Class B
Certificateholders per $1,000 original certificate
principal amount $5.666667
(5) The amount set forth in A (4) above distributed to
Class B Certificateholder with respect to interest
per $1,000 original certificate principal amount $5.666667
(6) The amount set forth in A (4) above distributed to
Class B Cerfiticateholder with respect to principal
per $1,000 original certificate principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the Series
1999-1 Certificates
(a) The aggregate amount of Finance Charge
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $73,945,000.20
(b) The aggregate amount of Interchange
collected and allocated to the Trust for
the Monthly Period immediately preceding
the Distribution Date $5,468,187.38
(c) The aggregate amount of Principal
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $496,326,063.11
1
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(d) The Floating Allocation Percentage with
respect to the Series 1999-1 Certificates
for the Monthly Period immediately
preceding the Distribution Date 9.567221%
(e) The Principal Allocation Percentage with
respect to the Series 1999-1 Certificates
for the Monthly Period immediately
preceding the Distribution Date 10.996805%
(f) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 1999-1 Certificates for the Monthly
Period immediately preceding the
Distribution Date $7,597,634.97
(g) The Principal Receivables collected and
allocated to the Series 1999-1
Certificates for the Monthly Period
immediately preceding the Distribution
Date $54,580,011.67
(2) Available Finance Charge Collections and
Reallocated Principal Collections for Series
1999-1 for the Monthly Period immediately
preceding the Distribution Date.
(a) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 1999-1 Certificates $7,597,634.97
(b) Collection Account and Special Funding
Account investment earnings allocated to
the Series 1999-1 Certificates $0.00
(c) Principal Funding Account Investment
Proceeds $55,187.62
(d) Reserve Draw Amount $0.00
(e) Additional Finance Charges from other
Series allocated to the Series 1999-1
Certificates $0.00
(f) Payments, if any, on deposit as of the
Determination Date received from any
Interest Rate Protection Agreements $0.00
(g) Reallocated Class D Principal Collections $0.00
(h) Reallocated Collateral Principal
Collections $0.00
(i) Reallocated Class B Principal Collections $0.00
(j) Total Available Finance Charge Collections
and Reallocated Principal Collections for
Series 1999-1 (total of (a), (b), (c),
(d), (e), (f), (g), (h), and (i) above) $7,652,822.59
2
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(3) Available Principal Collections for Series
1999-1 for the Monthly Period immediately
preceding the Distribution Date
(a) The Principal Receivables collected and
allocated to the Series 1999-1
Certificates $54,580,011.67
(b) Shared Principal Collections from other
Series allocated to the Series 1999-1
Certificates $0.00
(c) Additional amounts to be treated as
Available Principal Collections pursuant
to the Series Supplement $3,655,362.91
(d) Reallocated Class D Principal Collections $0.00
(e) Reallocated Collateral Principal
Collections $0.00
(f) Reallocated Class B Principal Collections $0.00
(g) Available Principal Collections for Series
1999-1 (total of (a), (b) and (c) minus
(d), (e) and (f) above) $58,235,374.58
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts
which were delinquent as of the close of business on the
last day of the Monthly Period immediately preceding the
Distribution Date.
(a) 31-60 days $111,537,798
(b) 61-90 days 72,097,108
(c) 91 or more days 146,805,828
-----------
(d) Total Delinquencies $330,440,734
(5) Defaulted Amount
(a) The aggregate amount of Defaulted
Receivables with respect to the Trust for
the Monthly Period immediately preceding
the Distribution Date $47,850,391.43
(b) The aggregate Amount of Recoveries of
Defaulted Receivables processed during the
Monthly Period immediately preceding the
Distribution Date $9,643,236.01
(c) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date [Defaulted Receivables
minus Recoveries] $38,207,155.42
(d) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date allocable to the Series
1999-1 Certificates (the "Series 1999-1
Defaulted Amount") $3,655,362.91
(e) The Class A Defaulted Amount [Series
1999-1 Defaulted Amount multiplied by the
Class A Percentage] $2,731,018.26
3
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(f) The Class B Defaulted Amount [Series
1999-1 Defaulted Amount multiplied by the
Class B Percentage] $430,659.73
(6) Class A Charge-Offs
(a) The excess, if any, of the Class A
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class A Defaulted Amount,
(ii) Reallocated Principal Collections
applied to such Class A Defaulted Amount,
(iii) the amount by which the Class D
Invested Amount has been reduced in
respect of such Class A Defaulted Amount,
(iv) the amount by which the Collateral
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
and (v) the amount by which the Class B
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
(a "Class A Charge-Off") $0.00
(b) The amount of the Class A Charge-Off set
forth in item 6(a) above, per $1,000
original certificate principal amount
(which will have the effect of reducing,
pro rata, the amount of each Class A
Certificateholder's investment) $0.00
(c) The total amount reimbursed on the
Distribution Date in respect of Class A
Charge-Offs for prior Distribution Dates $0.00
(d) The amount set forth in item 6(c) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class A Certificateholder's investment) $0.000000
(e) The amount, if any, by which the
outstanding principal balance of the Class
A Certificates exceeds the Class A
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
(7) Class B Charge-Offs
(a) The excess, if any, of the Class B
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class B Defaulted Amount,
(ii) Reallocated Class D Principal
Collections applied to such Class B
Defaulted Amount, (iii) Reallocated
Collateral Principal Collections applied
to such Class B Defaulted Amount, (iv) the
amount by which the Class D Invested
Amount has been reduced in respect of such
Class B Defaulted Amount and (v) the
amount by which the Collateral Invested
Amount has been reduced in respect of such
Class B Defaulted Amount $0.00
(b) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Class B Principal Collections $0.00
4
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(c) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of item 6(a)
(together with item 7(a), "Class B
Charge-Offs") $0.00
(d) The total amount by which the Class B
Invested Amount has been reduced on the
Distribution Date as set forth in items
7(a), (b) and (c) $0.00
(e) The amount set forth in item 7(d) above
per $1,000 original certificate principal
amount (which will have the effect of
reducing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(f) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class B Invested Amount on prior
Distribution Dates $0.00
(g) The amount set forth in item 7(f) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(h) The amount, if any, by which the
outstanding principal balance of the Class
B Certificates exceeds the Class B
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
(8) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Collateral Defaulted
Amount, (ii) Reallocated Class D Principal
Collections applied to such Collateral
Defaulted Amount and (iii) the Amount by
which the Class D Invested Amount has been
reduced in respect of such Collateral
Defaulted Amount $0.00
(b) The amount by which the Collateral
Invested Amount has been reduced the
Distribution Date in respect of
Reallocated Collateral Principal
Collections $0.00
(c) The amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date in respect of items 6(a)
and 7(a) above $0.00
(d) The total amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date as set forth in items
8(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Collateral Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the
Collateral Interest exceeds the Collateral
Invested Amount, if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on the Distribution Date $0.00
5
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(9) Reductions in the Class D Interest
(a) The excess, if any, of the Class D
Defaulted Amount over Available Finance
Charge Collections applied to such Class D
Defaulted Amount $0.00
(b) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Principal Collections $0.00
(c) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of items
6(a), 7(a) and 8(a) above $0.00
(d) The total amount by which the Class D
Invested Amount has been reduced on the
Distribution Date as set forth in items
9(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class D Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the Class
D Interest exceeds the Class D Invested
Amount, if any, as of the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on the
Distribution Date $0.00
(10) Investor Monthly Servicing Fee
(a) The amount of the Series 1999-1 Monthly
Servicing Fee payable to the Servicer on
the Distribution Date $813,301.28
(11) Class A Monthly Interest
(a) Class A Monthly Interest payable on the
Distribution Date $576,944.44
(12) Class B Monthly Interest
(a) Class B Monthly Interest payable on the
Distribution Date $372,328.33
(13) Principal Funding Account Amount
(a) The amount on deposit in the Principal
Funding Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $125,000,000.01
(b) Deposits to the Principal Funding Account
are currently scheduled to commence on the
Distribution Date occurring in October
2003 (The initial funding date for the
Principal Funding Account may be modified
in certain circumstances in accordance
with the terms of the Series Supplement.)
6
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(14) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for
the Distribution Date, after giving effect to
all deposits, withdrawals and distributions on
such Distribution Date $0.00
(15) Reserve Account
(a) The amount on deposit in the Reserve
Account on the Distribution Date, after
giving effect to all deposits, withdrawals
and distributions on such Distribution
Date and the related Transfer Date $2,500,000.00
(b) The Required Reserve Account Amount $2,500,000.00
C) Class A Invested Amount
(1) The Class A Initial Invested Amount $500,000,000.00
(2) The Class A Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $500,000,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class A Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class A
Invested Amount on such Distribution Date, to
the Class A Initial Invested Amount). The amount
of a Class A Certificateholder's pro rata share
of the Class A Invested Amount can be determined
by multiplying the original denomination of the
Class A Certificateholder's Certificate by the
Pool Factor 1.00000
D) Class B Invested Amount
(1) The Class B Initial Invested Amount $65,705,000.00
(2) The Class B Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $65,705,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class B Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class B
Invested Amount on such Distribution Date, to
the Class B Initial Invested Amount). The amount
of a Class B Certificateholder's pro rata share
of the Class B Invested Amount can be determined
by multiplying the original denomination of the
Class B Certificateholder's Certificate by the
Pool Factor 1.000000
E) Collateral Invested Amount
(1) The Collateral Initial Invested Amount $52,884,000.00
(2) The Collateral Invested Amount on the
Distribution Date, after giving effect to all
deposits, withdrawals and distributions on such
Date $52,884,000.00
7
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(3) The Collateral Invested Amount as a percentage
of the sum of the Invested Amount on such
Distribution Date 8.25%
F) Class D Invested Amount
(1) The Class D Initial Invested Amount $22,436,642.00
(2) The Class D Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $22,436,642.00
(3) The Class D Invested Amount as a percentage of
the sum of the Invested Amount on such
Distribution Date 3.50%
G) Receivables Balances
(1) The aggregate amount of Principal Receivables in
the Trust at the close of business on the last
day of the immediately preceding Monthly Period $5,730,248,540
(2) The aggregate amount of Finance Charge
Receivables in the Trust at the close of
business on the last day of the immediately
preceding Monthly Period $215,155,619
H) Annualized Percentages
(1) The Gross Yield (Available Finance Charge
Collections for the Series 1999-1 Certificates
for the preceding Monthly Period (excluding
payments received from Interest Rate Protection
Agreements) divided by the Invested Amount of
the Series 1999-1 Certificates as of the last
day of the next preceding Monthly Period,
multiplied by 365 days divided by number of days
in calendar month.) Effective November 2002
monthly period. 14.06%
(2) The Net Loss Rate (the Series 1999-1 Defaulted
Amount for the preceding Monthly Period divided
by the Invested Amount of the Series 1999-1
Certificates as of the last day of the next
preceding Monthly Period, multiplied by 12) 6.84%
(3) The Portfolio Yield (the Gross Yield minus the
Net Loss Rate for the Series 1999-1 Certificates
for the preceding Monthly Period) 7.22%
(4) The Base Rate (Monthly Interest plus Monthly
Servicing Fee (based on an assumed Servicing Fee
Rate of 2% per annum) for the preceding Monthly
Period with respect to the related Distribution
Date, divided by the Invested Amount of the
Series 1999-1 Certificates as of the last day of
the next preceding Monthly Period, multiplied by 12) 4.12%
(5) The Net Spread (the Portfolio Yield minus the
Base Rate for the Series 1999-1 Certificates for
the preceding Monthly Period) 3.10%
8
------------------------------
Series 1999-1 Monthly Statement
September 15, 2003 Distribution Date
------------------------------
(6) The Monthly Payment Rate (Collections of
Principal Receivables and Finance Charge
Receivables with respect to all Receivables in
the Trust for the preceding Monthly Period
divided by the amount of Receivables in the
Trust as of the last day of the next preceding
Monthly Period) 9.53%
I) Series 1999-1 Information for the Last Three
Distribution Dates
1) Gross Yield
a) 09/15/03 14.06%
b) 08/15/03 15.36%
c) 07/15/03 17.37%
2) Net Loss Rate
a) 09/15/03 6.84%
b) 08/15/03 6.82%
c) 07/15/03 8.21%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 09/15/03 3.10%
b) 08/15/03 4.29%
c) 07/15/03 4.79%
Three Month Average 4.06%
4) Monthly Payment Rate
a) 09/15/03 9.53%
b) 08/15/03 9.62%
c) 07/15/03 9.67%
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Servicer
By:
-------------------------------------------
Name: Patricia Garvey
Title: Vice President
9
MONTHLY STATEMENT
---------------------------------------------
CHASE USA MASTER TRUST (FORMERLY KNOWN AS PROVIDIAN MASTER TRUST)
SERIES 2000-1
---------------------------------------------
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and supplemented, the "Agreement"), as supplemented by the Series
2000-1 Supplement dated as of February 1, 2000 (as amended and restated on
February 5, 2002, the "Series Supplement"), between Card Acquisition Funding
LLC, Transferor, Chase Manhattan Bank USA, National Association as Servicer, and
The Bank of New York, as Trustee, Chase Manhattan Bank USA, National Association
as Servicer is required to prepare certain information each month regarding
current distributions to Class A Certificateholders, Class B Certificateholders,
Collateral Interest Holder and the Class D Interest Holder and the performance
of the Chase USA Master Trust (the "Trust") during the previous month. The
information which is required to be prepared for the Series 2000-1 Certificates
with respect to the Distribution Date occurring on September 15, 2003,and with
respect to the performance of the Trust during the month of August is set forth
below. Certain of the information is presented on the basis of an original
principal amount of $1,000 per Investor Certificate. Certain other information
is presented based on the aggregate amounts for the Trust as a whole.
Capitalized terms used in this Certificate have their respective meanings set
forth in the Agreement or Series Supplement, as applicable.
A) Information Regarding the Current Monthly Distribution
for the Series 2000-1 Class A Certificates and Class B
Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Class A
Certificateholders per $1,000 original
certificate principal amount $6.241667
(2) The amount set forth in A(1) above distributed
to Class A Certificateholders with respect to
interest per $1,000 original certificate
principal amount $6.241667
(3) The amount set forth in A(1) above distributed
to Class A Certificateholders with respect to
principal per $1,000 original certificate
principal amount $0.000000
(4) The total amount distributed to Class B
Certificateholders per $1,000 original
certificate principal amount $1.369167
(5) The amount set forth in A(4) above distributed
to Class B Certificateholders with respect to
interest per $1,000 original certificate
principal amount $1.369167
(6) The amount set forth in A(4) above distributed
to Class B Certificateholders with respect to
principal per $1,000 original certificate
principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the
Series 2000-1 Certificates
(a) The aggregate amount of Finance Charge
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $73,945,000.20
(b) The aggregate amount of Interchange
collected and allocated to the Trust for
the Monthly Period immediately preceding
the Distribution Date $5,468,187.38
1
---------------------------------
Series 2000-1 Monthly Statement
September 15, 2003 Distribution Date
---------------------------------
(c) The aggregate amount of Principal
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $496,326,063.11
(d) The Floating Allocation Percentage with
respect to the Series 2000-1 Certificates
for the Monthly Period immediately
preceding the Distribution Date 9.006384%
(e) The Principal Allocation Percentage with
respect to the Series 2000-1 Certificates
for the Monthly Period immediately
preceding the Distribution Date 9.006384%
(f) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 2000-1 Certificates for the Monthly
Period immediately preceding the
Distribution Date $7,152,256.36
(g) The Principal Receivables collected and
allocated to the Series 2000-1
Certificates for the Monthly Period
immediately preceding the Distribution
Date $44,701,029.49
(2) Available Finance Charge Collections and
Reallocated Principal Collections for Series
2000-1 for the Monthly Period immediately
preceding the Distribution Date.
(a) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 2000-1 Certificates $7,152,256.36
(b) Collection Account and Special Funding
Account investment earnings allocated to
the Series 2000-1 Certificates $0.00
(c) Principal Funding Account Investment
Proceeds $0.00
(d) Class A Reserve Draw Amount $0.00
(e) Class B Reserve Draw Amount $0.00
(f) Additional Finance Charges from other
Series allocated to the Series 2000-1
Certificates $0.00
(g) Payments, if any, on deposit as of the
Determination Date received from any
Interest Rate Protection Agreements $0.00
(h) Reallocated Class D Principal Collections $0.00
(i) Reallocated Collateral Principal
Collections $0.00
(j) Reallocated Class B Principal Collections $0.00
(k) Total Available Finance Charge Collections
and Reallocated Principal Collections for
Series 2000-1 (total of (a), (b), (c),
(d), (e), (f), (g), (h), (i) and (j)
above) $7,152,256.36
2
---------------------------------
Series 2000-1 Monthly Statement
September 15, 2003 Distribution Date
---------------------------------
(3) Available Principal Collections for Series
2000-1 for the Monthly Period immediately
preceding the Distribution Date
(a) The Principal Receivables collected and
allocated to the Series 2000-1
Certificates $44,701,029.49
(b) Shared Principal Collections from other
Series allocated to the Series 2000-1
Certificates $0.00
(c) Additional amounts to be treated as
Available Principal Collections pursuant
to the Series Supplement $3,441,083.01
(d) Reallocated Class D Principal Collections $0.00
(e) Reallocated Collateral Principal
Collections $0.00
(f) Reallocated Class B Principal Collections $0.00
(g) Available Principal Collections for Series
2000-1 (total of (a), (b) and ( c) minus
(d), (e) and (f) above) $48,142,112.50
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the
Accounts which were delinquent as of the close
of business on the last day of the Monthly
Period immediately preceding the Distribution
Date.
(a) 31-60 days $111,537,798
(b) 61-90 days 72,097,108
(c) 91 or more days 146,805,828
------------
(d) Total Delinquencies $330,440,734
(5) Defaulted Amount
(a) The aggregate amount of Defaulted
Receivables with respect to the Trust for
the Monthly Period immediately preceding
the Distribution Date $47,850,391.43
(b) The aggregate Amount of Recoveries of
Defaulted Receivables processed during the
Monthly Period immediately preceding the
Distribution Date $9,643,236.01
(c) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date [Defaulted Receivables
minus Recoveries] $38,207,155.42
(d) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date allocable to the Series
2000-1 Certificates (the "Series 2000-1
Defaulted Amount") $3,441,083.01
(e) The Class A Defaulted Amount [Series
2000-1 Defaulted Amount multiplied by the
Class A Percentage] $2,752,866.40
(f) The Class B Defaulted Amount [Series
2000-1 Defaulted Amount multiplied by the
Class B Percentage] $309,697.47
3
---------------------------------
Series 2000-1 Monthly Statement
September 15, 2003 Distribution Date
---------------------------------
(6) Class A Charge-Offs
(a) The excess, if any, of the Class A
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class A Defaulted Amount,
(ii) Reallocated Principal Collections
applied to such Class A Defaulted Amount,
(iii) the amount by which the Class D
Invested Amount has been reduced in
respect of such Class A Defaulted Amount,
(iv) the amount by which the Collateral
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
and (v) the amount by which the Class B
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
(a "Class A Charge-Off") $0.00
(b) The amount of the Class A Charge-Off set
forth in item 6(a) above, per $1,000
original certificate principal amount
(which will have the effect of reducing,
pro rata, the amount of each Class A
Certificateholder's investment) $0.000000
(c) The total amount reimbursed on the
Distribution Date in respect of Class A
Charge-Offs for prior Distribution Dates $0.00
(d) The amount set forth in item 6(c) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class A Certificateholder's investment) $0.0000000
(e) The amount, if any, by which the
outstanding principal balance of the Class
A Certificates exceeds the Class A
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
(7) Class B Charge-Offs
(a) The excess, if any, of the Class B
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class B Defaulted Amount,
(ii) Reallocated Class D Principal
Collections applied to such Class B
Defaulted Amount, (iii) Reallocated
Collateral Principal Collections applied
to such Class B Defaulted Amount, (iv) the
amount by which the Class D Invested
Amount has been reduced in respect of such
Class B Defaulted Amount and (v) the
amount by which the Collateral Invested
Amount has been reduced in respect of such
Class B Defaulted Amount $0.00
(b) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Class B Principal Collections $0.00
(c) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of item 6(a)
(together with item 7(a), "Class B
Charge-Offs") $0.00
(d) The total amount by which the Class B
Invested Amount has been reduced on the
Distribution Date as set forth in items
7(a), (b) and (c) $0.00
4
(e) The amount set forth in item 7(d) above
per $1,000 original certificate principal
amount (which will have the effect of
reducing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(f) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class B Invested Amount on prior
Distribution Dates $0.00
(g) The amount set forth in item 7(f) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(h) The amount, if any, by which the
outstanding principal balance of the Class
B Certificates exceeds the Class B
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
(8) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Collateral Defaulted
Amount, (ii) Reallocated Class D Principal
Collections applied to such Collateral
Defaulted Amount and (iii) the amount by
which the Class D Invested Amount has been
reduced in respect of such Collateral
Defaulted Amount $0.00
(b) The amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date in respect of
Reallocated Collateral Principal
Collections $0.00
(c) The amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date in respect of items 6(a)
and 7(a) above $0.00
(d) The total amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date as set forth in items
8(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Collateral Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the
Collateral Interest exceeds the Collateral
Invested Amount, if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on the Distribution Date $0.00
(9) Reductions in the Class D Interest
(a) The excess, if any, of the Class D
Defaulted Amount over Available Finance
Charge Collections applied to such Class D
Defaulted Amount $0.00
(b) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Principal Collections $0.00
5
---------------------------------
Series 2000-1 Monthly Statement
September 15, 2003 Distribution Date
---------------------------------
(c) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of items
6(a), 7(a) and 8 (a) above $0.00
(d) The total amount by which the Class D
Invested Amount has been reduced on the
Distribution Date as set forth in items
9(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class D Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the Class
D Interest exceeds the Class D Invested
Amount, if any, as of the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on the
Distribution Date $0.00
(10) Investor Monthly Servicing Fee
(a) The amount of the Series 2000-1 Monthly
Servicing Fee payable to the Servicer on
the Distribution Date $765,625.00
(11) Class A Monthly Interest
(a) Class A Monthly Interest payable on the
Distribution Date $2,621,500.00
(12) Class B Monthly Interest
(a) Class B Monthly Interest payable on the
Distribution Date $64,693.13
(13) Principal Funding Account Amount
(a) The amount on deposit in the Principal
Funding Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $0.00
(b) Deposits to the Principal Funding Account
are currently scheduled to commence on the
Distribution Date occurring in March 2004
(The initial funding date for the
Principal Funding Account may be modified
in certain circumstances in accordance
with the terms of the Series Supplement.)
(14) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for
the Distribution Date, after giving effect to
all deposits, withdrawals and distributions on
such Distribution Date $0.00
(15) Class A Reserve Account
(a) The amount on deposit in the Class A
Reserve Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date and the related Transfer
Date $2,100,000.00
(b) The Class A Required Reserve Account
Amount $2,100,000.00
6
---------------------------------
Series 2000-1 Monthly Statement
September 15, 2003 Distribution Date
---------------------------------
(16) Class B Reserve Account
(a) The amount on deposit in the Class B
Reserve Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date and the related Transfer
Date $0.00
(b) The Class B Required Reserve Account
Amount $0.00
C) Class A Invested Amount
(1) The Class A Initial Invested Amount $420,000,000.00
(2) The Class A Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $420,000,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class A Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class A
Invested Amount on such Distribution Date, to
the Class A Initial Invested Amount). The amount
of a Class A Certificateholder's pro rata share
of the Class A Invested Amount can be determined
by multiplying the original denomination of the
Class A Certificateholder's Certificate by the
Pool Factor 1.000000
D) Class B Invested Amount
(1) The Class B Initial Invested Amount $47,250,000.00
(2) The Class B Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $47,250,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class B Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class B
Invested Amount on such Distribution Date, to
the Class B Initial Invested Amount). The amount
of a Class B Certificateholder's pro rata share
of the Class B Invested Amount can be determined
by multiplying the original denomination of the
Class B Certificateholder's Certificate by the
Pool Factor 1.000000
E) Collateral Invested Amount
(1) The Collateral Initial Invested Amount $42,000,000.00
(2) The Collateral Invested Amount on the
Distribution Date, after giving effect to all
deposits, withdrawals and distributions on such
Distribution Date $42,000,000.00
(3) The Collateral Invested Amount as a percentage
of the Invested Amount on such Distribution Date 8.00%
7
---------------------------------
Series 2000-1 Monthly Statement
September 15, 2003 Distribution Date
---------------------------------
F) Class D Invested Amount
(1) The Class D Initial Invested Amount $15,750,000.00
(2) The Class D Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $15,750,000.00
(3) The Class D Invested Amount as a percentage of
the Invested Amount on such Distribution Date 3.00%
G) Receivables Balances
(1) The aggregate amount of Principal Receivables in
the Trust at the close of business on the last
day of the immediately preceding Monthly Period $5,730,248,540
(2) The aggregate amount of Finance Charge
Receivables in the Trust at the close of
business on the last day of the immediately
preceding Monthly Period $215,155,619
H) Annualized Percentages
(1) The Gross Yield (Available Finance Charge
Collections for the Series 2000-1 Certificates
for the preceding Monthly Period (excluding
payments received from Interest Rate Protection
Agreements) divided by the Invested Amount of
the Series 2000-1 Certificates as of the last
day of the next preceding Monthly Period,
multiplied by 365 divided by number of days in
the calendar month.) Effective November 2002
monthly period. 16.04%
(2) The Net Loss Rate (the Series 2000-1 Defaulted
Amount for the preceding Monthly Period divided
by the Invested Amount of the Series 2000-1
Certificates as of the last day of the next
preceding Monthly Period, multiplied by 12) 7.87%
(3) The Portfolio Yield (the Gross Yield minus the
Net Loss Rate for the Series 2000-1 Certificates
for the preceding Monthly Period) 8.17%
(4) The Base Rate (Monthly Interest plus Monthly
Servicing Fee (based on an assumed Servicing Fee
Rate of 2% per annum) for the preceding Monthly
Period with respect to the related Distribution
Date, divided by the Invested Amount of the
Series 2000-1 Certificates as of the last day of
the next preceding Monthly Period, multiplied by 12) 8.33%
(5) The Net Spread (the Portfolio Yield minus the
Base Rate for the Series 2000-1 Certificates for
the preceding Monthly Period) -0.16%
(6) The Monthly Payment Rate (Collections of
Principal Receivables and Finance Charge
Receivables with respect to all Receivables in
the Trust for the preceding Monthly Period
divided by the amount of Receivables in the
Trust as of the last day of the next preceding
Monthly Period) 9.53%
8
---------------------------------
Series 2000-1 Monthly Statement
September 15, 2003 Distribution Date
---------------------------------
I) Series 2000-1 Information for the Last Three
Distribution Dates
1) Gross Yield
a) 09/15/03 16.04%
b) 08/15/03 16.37%
c) 07/15/03 16.78%
2) Net Loss Rate
a) 09/15/03 7.87%
b) 08/15/03 7.29%
c) 07/15/03 8.21%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 09/15/03 -0.16%
b) 08/15/03 0.75%
c) 07/15/03 0.25%
Three Month Average 0.28%
4) Monthly Payment Rate
a) 09/15/03 9.53%
b) 08/15/03 9.62%
c) 07/15/03 9.67%
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Servicer
By:
--------------------------------------------
Name: Patricia Garvey
Title: Vice President
9
MONTHLY STATEMENT
---------------------------------------------
CHASE USA MASTER TRUST (FORMERLY KNOWN AS PROVIDIAN MASTER TRUST)
SERIES 2000-2
---------------------------------------------
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and restated on February 5, 2002, the "Agreement"), as supplemented
by the Series 2000-2 Supplement dated as of August 1, 2000 (as amended and
supplemented, the "Series Supplement"), between Card Acquisition Funding LLC as
Transferor, Chase Manhattan Bank USA, National Association as Servicer, and The
Bank of New York as Trustee, Chase Manhattan Bank USA, National Association as
Servicer is required to prepare certain information each month regarding current
distributions to Class A Certificateholders, Class B Certificateholders,
Collateral Interest Holder and the performance of the Chase USA Master Trust
(the "Trust") during the previous month. The information which is required to be
prepared for the Series 2000-2 Certificates with respect to the Distribution
Date occurring on September 15, 2003 and with respect to the performance of the
Trust during the month of August is set forth below. Certain of the information
is presented on the basis of an original principal amount of $1,000 per Investor
Certificate. Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Agreement or Series Supplement,
as applicable.
A) Information Regarding the Current Monthly Distribution
for the Series 2000-2 Class A Certificates and Class B
Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Class A
Certificateholders per $1,000 original
certificate principal amount $1.102222
(2) The amount set forth in A(1) above distributed
to Class A Certificateholders with respect to
interest per $1,000 original certificate
principal amount $1.102222
(3) The amount set forth in A(1) above distributed
to Class A Certificateholders with respect to
principal per $1,000 original certificate
principal amount $0.000000
(4) The total amount distributed to Class B
Certificateholders per $1,000 original
certificate principal amount $1.395000
(5) The amount set forth in A(4) above distributed
to Class B Certificateholders with respect to
interest per $1,000 original certificate
principal amount $1.395000
(6) The amount set forth in A(4) above distributed
to Class B Certificateholders with respect to
principal per $1,000 original certificate
principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the
Series 2000-2 Certificates
(a) The aggregate amount of Finance Charge
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $73,945,000.20
1
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(b) The aggregate amount of Interchange
collected and allocated to the Trust for
the Monthly Period immediately preceding
the Distribution Date $5,468,187.38
(c) The aggregate amount of Principal
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $496,326,063.11
(d) The Floating Allocation Percentage with
respect to the Series 2000-2 Certificates
for the Monthly Period immediately
preceding the Distribution Date 9.929324%
(e) The Principal Allocation Percentage with
respect to the Series 2000-2 Certificates
for the Monthly Period immediately
preceding the Distribution Date 9.929324%
(f) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 2000-2 Certificates for the Monthly
Period immediately preceding the
Distribution Date $7,885,192.34
(g) The Principal Receivables collected and
allocated to the Series 2000-2
Certificates for the Monthly Period
immediately preceding the Distribution
Date $49,281,820.70
(2) Available Finance Charge Collections and
Reallocated Principal Collections for Series
2000-2 for the Monthly Period immediately
preceding the Distribution Date.
(a) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 2000-2 Certificates $7,885,192.34
(b) Collection Account and Special Funding
Account investment earnings allocated to
the Series 2000-2 Certificates $0.00
(c) Principal Funding Account Investment
Proceeds $0.00
(d) Class A Reserve Draw Amount $0.00
(e) Class B Reserve Draw Amount $0.00
(f) Additional Finance Charges from other
Series allocated to the Series 2000-2
Certificates $0.00
(g) Payments, if any, on deposit as of the
Determination Date received from any
Interest Rate Protection Agreements $0.00
(h) Reallocated Class D Principal Collections $0.00
(i) Reallocated Collateral Principal
Collections $0.00
2
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(j) Reallocated Class B Principal Collections $0.00
(k) Total Available Finance Charge Collections
and Reallocated Principal Collections for
Series 2000-2 (total of (a), (b), (c),
(d), (e), (f), (g), (h), (i) and (j)
above) $7,885,192.34
(3) Available Principal Collections for Series
2000-2 for the Monthly Period immediately
preceding the Distribution Date
(a) The Principal Receivables collected and
allocated to the Series 2000-2
Certificates $49,281,820.70
(b) Shared Principal Collections from other
Series allocated to the Series 2000-2
Certificates $0.00
(c) Additional amounts to be treated as
Available Principal Collections pursuant
to the Series Supplement $3,793,712.08
(d) Reallocated Class D Principal Collections $0.00
(e) Reallocated Collateral Principal
Collections $0.00
(f) Reallocated Class B Principal Collections $0.00
(g) Available Principal Collections for Series
2000-2 (total of (a), (b) and (c) minus
(d), (e) and (f) above) $53,075,532.78
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the
Accounts which were delinquent as of the close
of business on the last day of the Monthly
Period immediately preceding the Distribution
Date.
(a) 31-60 days $111,537,798
(b) 61-90 days 72,097,108
(c) 91 or more days 146,805,828
-----------
(d) Total Delinquencies $330,440,734
(5) Defaulted Amount
(a) The aggregate amount of Defaulted
Receivables with respect to the Trust for
the Monthly Period immediately preceding
the Distribution Date $47,850,391.43
(b) The aggregate Amount of Recoveries of
Defaulted Receivables processed during the
Monthly Period immediately preceding the
Distribution Date $9,643,236.01
3
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(c) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date [Defaulted Receivables
minus Recoveries] $38,207,155.42
(d) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date allocable to the Series
2000-2 Certificates (the "Series 2000-2
Defaulted Amount") $3,793,712.08
(e) The Class A Defaulted Amount [Series
2000-2 Defaulted Amount multiplied by the
Class A Percentage] $2,949,499.72
(f) The Class B Defaulted Amount [Series
2000-2 Defaulted Amount multiplied by the
Class B Percentage] $388,678.52
(6) Class A Charge-Offs
(a) The excess, if any, of the Class A
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class A Defaulted Amount,
(ii) Reallocated Principal Collections
applied to such Class A Defaulted Amount,
(iii) the amount by which the Class D
invested Amount has been reduced in
respect of such Class A Defaulted Amount,
(iv) the amount by which the Collateral
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
and (v) the amount by which the Class B
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
(a"Class A Charge-Off") $0.00
(b) The amount of the Class A Charge-Off set
forth in item 6(a) above, per $1,000
original certificate principal amount
(which will have the effect of reducing,
pro rata, the amount of each Class A
Certificateholder's investment) $0.000000
(c) The total amount reimbursed on the
Distribution Date in respect of Class A
Charge-Offs for prior Distribution Dates $0.00
(d) The amount set forth in item 6(c) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class A Certificateholder's investment) $0.000000
(e) The amount, if any, by which the
outstanding principal balance of the Class
A Certificates exceeds the Class A
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
4
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(7) Class B Charge-Offs
(a) The excess, if any, of the Class B
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class B Defaulted Amount,
(ii) Reallocated Class D Principal
Collections applied to such Class B
Defaulted Amount, (iii) Reallocated
Collateral Principal Collections applied
to such Class B Defaulted Amount, (iv) the
amount by which the Class D Invested
Amount has been reduced in respect of such
Class B Defaulted Amount and (v) the
amount by which the Collateral Invested
Amount has been reduced in respect of such
Class B Defaulted Amount $0.00
(b) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Class B Principal Collections $0.00
(c) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of item 6(a)
(together with item 7(a), "Class B
Charge-Offs") $0.00
(d) The total amount by which the Class B
Invested Amount has been reduced on the
Distribution Date as set forth in items
7(a), (b) and (c) $0.00
(e) The amount set forth in item 7(d) above
per $1,000 original certificate principal
amount (which will have the effect of
reducing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(f) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class B Invested Amount on prior
Distribution Dates $0.00
(g) The amount set forth in item 7(f) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(h) The amount, if any, by which the
outstanding principal balance of the Class
B Certificates exceeds the Class B
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
(8) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Collateral Defaulted
Amount, (ii) Reallocated Class D Principal
Collections applied to such Collateral
Defaulted Amount and (iii) the amount by
which the Class D Invested Amount has been
reduced in respect of such Collateral
Defaulted Amount $0.00
5
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(b) The amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date in respect of
Reallocated Collateral Principal
Collections $0.00
(c) The amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date in respect of items 6(a)
and 7(a) above $0.00
(d) The total amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date as set forth in items
8(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Collateral Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the
Collateral Interest exceeds the Collateral
Invested Amount, if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on the Distribution Date $0.00
(9) Reductions in the Class D Interest
(a) The excess, if any, of the Class D
Defaulted Amount over Available Finance
Charge Collections applied to such Class D
Defaulted Amount $0.00
(b) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Principal Collections $0.00
(c) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of items
6(a), 7(a) and 8 (a) above $0.00
(d) The total amount by which the Class D
Invested Amount has been reduced on the
Distribution Date as set forth in items
9(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class D Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the Class
D Interest exceeds the Class D Invested
Amount, if any, as of the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on the
Distribution Date $0.00
(10) Investor Monthly Servicing Fee
(a) The amount of the Series 2000-2 Monthly
Servicing Fee payable to the Servicer on
the Distribution Date $844,083.33
6
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(11) Class A Monthly Interest
(a) Class A Monthly Interest payable on the
Distribution Date $496,000.00
(12) Class B Monthly Interest
(a) Class B Monthly Interest payable on the
Distribution Date $82,723.50
(13) Principal Funding Account Amount
(a) The amount on deposit in the Principal
Funding Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $0.00
(b) Deposits to the Principal Funding Account
are currently scheduled to commence on the
Distribution Date occurring in August 2004
(The initial funding date for the
Principal Funding Account may be modified
in certain circumstances in accordance
with the terms of the Series Supplement.)
(14) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for
the Distribution Date, after giving effect to
all deposits, withdrawals and distributions on
such Distribution Date $0.00
(15) Class A Reserve Account
(a) The amount on deposit in the Class A
Reserve Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date and the related Transfer
Date $0.00
(b) The Class A Required Reserve Account
Amount $0.00
(16) Class B Reserve Account
(a) The amount on deposit in the Class B
Reserve Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date and the related Transfer
Date $0.00
(b) The Class B Required Reserve Account
Amount $0.00
7
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
C) Class A Invested Amount
(1) The Class A Initial Invested Amount $450,000,000.00
(2) The Class A Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $450,000,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class A Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class A
Invested Amount on such Distribution Date, to
the Class A Initial Invested Amount). The amount
of a Class A Certificateholder's pro rata share
of the Class A Invested Amount can be determined
by multiplying the original denomination of the
Class A Certificateholder's Certificate by the
Pool Factor 1.000000
D) Class B Invested Amount
(1) The Class B Initial Invested Amount $59,300,000.00
(2) The Class B Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $59,300,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class B Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class B
Invested Amount on such Distribution Date, to
the Class B Initial Invested Amount). The amount
of a Class B Certificateholder's pro rata share
of the Class B Invested Amount can be determined
by multiplying the original denomination of the
Class B Certificateholder's Certificate by the
Pool Factor. 1.000000
E) Collateral Invested Amount
(1) The Collateral Initial Invested Amount $49,200,000.00
(2) The Collateral Invested Amount on the
Distribution Date, after giving effect to all
deposits, withdrawals and distributions on such
Distribution Date $49,200,000.00
(3) The Collateral Invested Amount as a percentage
of the Invested Amount on such Distribution Date 8.50%
8
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
F) Class D Invested Amount
(1) The Class D Initial Invested Amount $20,300,000.00
(2) The Class D Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $20,300,000.00
(3) The Class D Invested Amount as a percentage of
the Invested Amount on such Distribution Date 3.51%
G) Receivables Balances
(1) The aggregate amount of Principal Receivables in
the Trust at the close of business on the last
day of the immediately preceding Monthly Period $5,730,248,540
(2) The aggregate amount of Finance Charge
Receivables in the Trust at the close of
business on the last day of the immediately
preceding Monthly Period $215,155,619
H) Annualized Percentages
(1) The Gross Yield (Available Finance Charge
Collections for the Series 2000-2 Certificates
for the preceding Monthly Period (excluding
payments received from Interest Rate Protection
Agreements) divided by the Invested Amount of
the Series 2000-2 Certificates as of the last
day of the next preceding Monthly Period,
multiplied by 365 divided by the number of days
in the calendar month) Effective November 2002
monthly period. 16.04%
(2) The Net Loss Rate (the Series 2000-2 Defaulted
Amount for the preceding Monthly Period divided
by the Invested Amount of the Series 2000-2
Certificates as of the last day of the next
preceding Monthly Period, multiplied by 12) 7.87%
(3) The Portfolio Yield (the Gross Yield minus the
Net Loss Rate for the Series 2000-2 Certificates
for the preceding Monthly Period) 8.17%
(4) The Base Rate (Monthly Interest plus Monthly
Servicing Fee (based on an assumed Servicing Fee
Rate of 2% per annum) for the preceding Monthly
Period with respect to the related Distribution
Date, divided by the Invested Amount of the
Series 2000-2 Certificates as of the last day of
the next preceding Monthly multiplied by 12) 3.88%
(5) The Net Spread (the Portfolio Yield minus the
Base Rate for the Series 2000-2 Certificates for
the preceding Monthly Period) 4.29%
9
--------------------------------------
Series 2000-2 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(6) The Monthly Payment Rate (Collections of
Principal Receivables and Finance Charge
Receivables with respect to all Receivables in
the Trust for the preceding Monthly Period
divided by the amount of Receivables in the
Trust as of the last day of the next preceding
Monthly Period) 9.53%
I) Series 2000-2 Information for the Last Three
Distribution Dates
1) Gross Yield
a) 09/15/03 16.04%
b) 08/15/03 16.37%
c) 07/15/03 19.18%
2) Net Loss Rate
a) 09/15/03 7.87%
b) 08/15/03 7.29%
c) 07/15/03 8.21%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 09/15/03 4.29%
b) 08/15/03 5.20%
c) 07/15/03 7.11%
Three Month Average 5.53%
4) Monthly Payment Rate
a) 09/15/03 9.53%
b) 08/15/03 9.62%
c) 07/15/03 9.67%
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,
Servicer
By:
----------------------------------------
Name: Patricia Garvey
Title: Vice President
10
MONTHLY STATEMENT
---------------------------------------------
CHASE USA MASTER TRUST (FORMERLY KNOWN AS PROVIDIAN MASTER TRUST)
Series 2000-3
---------------------------------------------
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and restated on February 5, 2002, the "Agreement"), as supplemented
by the Series 2000-3 Supplement dated as of November 1, 2000 (as amended and
supplemented, the "Series Supplement"), between Card Acquisition Funding LLC,
Transferor, Chase Manhattan Bank USA, National Association, Servicer, and The
Bank of New York, Trustee, Chase Manhattan Bank USA, National Association as
Servicer is required to prepare certain information each month regarding current
distributions to Class A Certificateholders, Class B Certificateholders,
Collateral Interest Holder and the Class D Interest Holder and the performance
of the Chase USA Master Trust (the "Trust") during the previous month. The
information which is required to be prepared for the Series 2000-3 Certificates
with respect to the Distribution Date occurring on September 15, 2003 and with
respect to the performance of the Trust during the month of August is set forth
below. Certain of the information is presented on the basis of an original
principal amount of $1,000 per Investor Certificate. Certain other information
is presented based on the aggregate amounts for the Trust as a whole.
Capitalized terms used in this Certificate have their respective meanings set
forth in the Agreement or Series Supplement, as applicable.
A) Information Regarding the Current Monthly Distribution
for the Series 2000-3 Class A Certificates and Class B
Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Class A
Certificateholders per $1,000 original
certificate principal amount $1.059167
(2) The amount set forth in A(1) above distributed
to Class A Certificateholders with respect to
interest per $1,000 original certificate
principal amount $1.059167
(3) The amount set forth in A(1) above distributed
to Class A Certificateholders with respect to
principal per $1,000 original certificate
principal amount $0.000000
(4) The total amount distributed to Class B
Certificateholders per $1,000 original
certificate principal amount $1.343333
(5) The amount set forth in A(4) above distributed
to Class B Certificateholders with respect to
interest per $1,000 original certificate
principal amount $1.343333
(6) The amount set forth in A(4) above distributed
to Class B Certificateholders with respect to
principal per $1,000 original certificate
principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the
Series 2000-3 Certificates
(a) The aggregate amount of Finance Charge
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $73,945,000.20
(b) The aggregate amount of Interchange
collected and allocated to the Trust for
the Monthly Period immediately preceding
the Distribution Date $5,468,187.38
1
--------------------------------------
Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(c) The aggregate amount of Principal
Receivables collected during the Monthly
Period immediately preceding the
Distribution Date $496,326,063.11
(d) The Floating Allocation Percentage with
respect to the Series 2000-3 Certificates
for the Monthly Period immediately
preceding the Distribution Date 8.273864%
(e) The Principal Allocation Percentage with
respect to the Series 2000-3 Certificates
for the Monthly Period immediately
preceding the Distribution Date 12.008512%
(f) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 2000-3 Certificates for the Monthly
Period immediately preceding the
Distribution Date $6,570,539.51
(g) The Principal Receivables collected and
allocated to the Series 2000-3
Certificates for the Monthly Period
immediately preceding the Distribution
Date $59,601,372.65
(2) Available Finance Charge Collections and
Reallocated Principal Collections for Series
2000-3 for the Monthly Period immediately
preceding the Distribution Date.
(a) The Finance Charge Receivables and
Interchange collected and allocated to the
Series 2000-3 Certificates $6,570,539.51
(b) Collection Account and Special Funding
Account investment earnings allocated to
the Series 2000-3 Certificates $0.00
(c) Principal Funding Account Investment
Proceeds $144,173.96
(d) Class A Reserve Draw Amount $0.00
(e) Class B Reserve Draw Amount $0.00
(f) Additional Finance Charges from other
Series allocated Date received to the
Series 2000-3 Certificates $0.00
(g) Payments, if any, on deposit as of the
Determination from any Interest Rate
Protection Agreements $0.00
(h) Reallocated Class D Principal Collections $0.00
(i) Reallocated Collateral Principal
Collections $0.00
(j) Reallocated Class B Principal Collections $0.00
(k) Total Available Finance Charge Collections
and Reallocated Principal Collections for
Series 2000-3 (total of (a), (b), (c),
(d), (e), (f), (g), (h), (i) and (j)
above) $6,714,713.47
2
--------------------------------------
Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(3) Available Principal Collections for Series
2000-3 for the Monthly Period immediately
preceding the Distribution Date
(a) The Principal Receivables collected and
allocated to the Series 2000-3
Certificates $59,601,372.65
(b) Shared Principal Collections from other
Series allocated to the Series 2000-3
Certificates $46,087,419.10
(c) Additional amounts to be treated as
Available Principal Collections pursuant
to the Series Supplement $3,161,208.25
(d) Reallocated Class D Principal Collections $0.00
(e) Reallocated Collateral Principal
Collections $0.00
(f) Reallocated Class B Principal Collections $0.00
(g) Available Principal Collections for Series
2000-3 (total of (a), (b) and ( c) minus
(d), (e) and (f) above) $108,850,000.00
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the
Accounts which were delinquent as of the close
of business on the last day of the Monthly
Period immediately preceding the Distribution
Date.
(a) 31-60 days $111,537,798
(b) 61-90 days 72,097,108
(c) 91 or more days 146,805,828
------------
(d) Total Delinquencies $330,440,734
(5) Defaulted Amount
(a) The aggregate amount of Defaulted
Receivables with respect to the Trust for
the Monthly Period immediately preceding
the Distribution Date $47,850,391.43
(b) The aggregate Amount of Recoveries of
Defaulted Receivables processed during the
Monthly Period immediately preceding the
Distribution Date $9,643,236.01
(c) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date [Defaulted Receivables
minus Recoveries] $38,207,155.42
(d) The Defaulted Amount for the Monthly
Period immediately preceding the
Distribution Date allocable to the Series
2000-3 Certificates (the "Series 2000-3
Defaulted Amount") $3,161,208.25
(e) The Class A Defaulted Amount [Series
2000-3 Defaulted Amount multiplied by the
Class A Percentage] $2,140,353.63
(f) The Class B Defaulted Amount [Series
2000-3 Defaulted Amount multiplied by the
Class B Percentage] $470,281.34
3
--------------------------------------
Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(6) Class A Charge-Offs
(a) The excess, if any, of the Class A
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class A Defaulted Amount,
(ii) Reallocated Principal Collections
applied to such Class A Defaulted Amount,
(iii) the amount by which the Class D
Invested Amount has been reduced in
respect of such Class A Defaulted Amount,
(iv) the amount by which the Collateral
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
and (v) the amount by which the Class B
Invested Amount has been reduced in
respect of such Class A Defaulted Amount
(a "Class A Charge-Off") $0.00
(b) The amount of the Class A Charge-Off set
forth in item 6(a) above, per $1,000
original certificate principal amount
(which will have the effect of reducing,
pro rata, the amount of each Class A
Certificateholder's investment) $0.000000
(c) The total amount reimbursed on the
Distribution Date in respect of Class A
Charge-Offs for prior Distribution Dates $0.00
(d) The amount set forth in item 6(c) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class A Certificateholder's investment) $0.000000
(e) The amount, if any, by which the
outstanding principal balance of the Class
A Certificates exceeds the Class A
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
(7) Class B Charge-Offs
(a) The excess, if any, of the Class B
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Class B Defaulted Amount,
(ii) Reallocated Class D Principal
Collections applied to such Class B
Defaulted Amount, (ii) Reallocated Class D
Principal Collections applied to such
Class B Defaulted Amount, (iii)
Reallocated Collateral Principal
Collections applied to such Class B
Defaulted Amount, (iv) the amount by which
the Class D Invested Amount has been
reduced in respect of such Class B
Defaulted Amount and (v) the amount by
which the Collateral Invested Amount has
been reduced in respect of such Class B
Defaulted Amount $0.00
(b) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Class B Principal Collections $0.00
(c) The amount by which the Class B Invested
Amount has been reduced on the
Distribution Date in respect of item 6(a)
(together with item 7(a), "Class B
Charge-Offs") $0.00
(d) The total amount by which the Class B
Invested Amount has been reduced on the
Distribution Date as set forth in items
7(a), (b) and (c) $0.00
4
--------------------------------------
Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(e) The amount set forth in item 7(d) above
per $1,000 original certificate principal
amount (which will have the effect of
reducing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(f) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class B Invested Amount on prior
Distribution Dates $0.00
(g) The amount set forth in item 7(f) above
per $1,000 original certificate principal
amount (which will have the effect of
increasing, pro rata, the amount of each
Class B Certificateholder's investment) $0.000000
(h) The amount, if any, by which the
outstanding principal balance of the Class
B Certificates exceeds the Class B
Invested Amount if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on such Distribution Date $0.00
(8) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral
Defaulted Amount over the sum of (i)
Available Finance Charge Collections
applied to such Collateral Defaulted
Amount, (ii) Reallocated Class D Principal
Collections applied to such Collateral
Defaulted Amount and (iii) the amount by
which the Class D Invested Amount has been
reduced in respect of such Collateral
Defaulted Amount $0.00
(b) The amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date in respect of
Reallocated Collateral Principal
Collections $0.00
(c) The amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date in respect of items 6(a)
and 7(a) above $0.00
(d) The total amount by which the Collateral
Invested Amount has been reduced on the
Distribution Date as set forth in items
8(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Collateral Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the
Collateral Interest exceeds the Collateral
Invested Amount, if any, as of the
Distribution Date, after giving effect to
all deposits, withdrawals and
distributions on the Distribution Date $0.00
(9) Reductions in the Class D Interest
(a) The excess, if any, of the Class D
Defaulted Amount over Available Finance
Charge Collections applied to such Class D
Defaulted Amount $0.00
(b) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of
Reallocated Principal Collections $0.00
5
--------------------------------------
Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(c) The amount by which the Class D Invested
Amount has been reduced on the
Distribution Date in respect of items
6(a), 7(a) and 8 (a) above $0.00
(d) The total amount by which the Class D
Invested Amount has been reduced on the
Distribution Date as set forth in items
9(a), (b) and (c) $0.00
(e) The total amount reimbursed on the
Distribution Date in respect of reductions
in the Class D Invested Amount on prior
Distribution Dates $0.00
(f) The amount, if any, by which the
outstanding principal balance of the Class
D Interest exceeds the Class D Invested
Amount, if any, as of the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on the
Distribution Date $0.00
(10) Investor Monthly Servicing Fee
(a) The amount of the Series 2000-3 Monthly
Servicing Fee to the Servicer on the
Distribution Date $703,354.17
(11) Class A Monthly Interest
(a) Class A Monthly Interest payable on the
Distribution Date $576,451.46
(12) Class B Monthly Interest
(a) Class B Monthly Interest payable on the
Distribution Date $96,384.17
(13) Principal Funding Account Amount
(a) The amount on deposit in the
Principal Funding Account on the
Distribution Date, after giving
effect to all deposits, withdrawals
and distributions on such
Distribution Date $326,550,000.00
(b) Deposits to the Principal Funding
Account are currently scheduled to
commence on the Distribution Date
occurring in July 2003 (The initial
funding date for the Principal
Funding Account may be modified in
certain circumstances in accordance
with the terms of the Series
Supplement.)
(14) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for
the Distribution Date, after giving effect to
all deposits, withdrawals and distributions on
such Distribution Date $0.00
(15) Class A Reserve Account
(a) The amount on deposit in the Class A
Reserve Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date and the related Transfer
Date $2,721,250.00
(b) The Class A Required Reserve Account
Amount $2,721,250.00
6
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Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
(16) Class B Reserve Account
(a) The amount on deposit in the Class B
Reserve Account on the Distribution Date,
after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date and the related Transfer
Date $179,375.00
(b) The Class B Required Reserve Account
Amount $179,375.00
C) Class A Invested Amount
(1) The Class A Initial Invested Amount $544,250,000.00
(2) The Class A Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $544,250,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class A Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class A
Invested Amount on such Distribution Date, to
the Class A Initial Invested Amount). The amount
of a Class A Certificateholder's pro rata share
of the Class A Invested Amount can be determined
by multiplying the original denomination of the
Class A Certificateholder's Certificate by the
Pool Factor 1.000000
D) Class B Invested Amount
(1) The Class B Initial Invested Amount $71,750,000.00
(2) The Class B Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $71,750,000.00
(3) The Pool Factor for the Distribution Date (which
represents the ratio of the Class B Invested
Amount, as of such Distribution Date, after
giving effect to any adjustment in the Class B
Invested Amount on such Distribution Date, to
the Class B Initial Invested Amount). The amount
of a Class B Certificateholder's pro rata share
of the Class B Invested Amount can be determined
by multiplying the original denomination of the
Class B Certificateholder's Certificate by the
Pool Factor 1.000000
E) Collateral Invested Amount
(1) The Collateral Initial Invested Amount $59,500,000.00
(2) The Collateral Invested Amount on the
Distribution Date, after giving effect to all
deposits, withdrawals and distributions on such
Distribution Date $59,500,000.00
(3) The Collateral Invested Amount as a percentage
of the Invested Amount on such Distribution Date 8.50%
7
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Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
F) Class D Invested Amount
(1) The Class D Initial Invested Amount $24,500,000.00
(2) The Class D Invested Amount on the Distribution
Date, after giving effect to all deposits,
withdrawals and distributions on such
Distribution Date $24,500,000.00
(3) The Class D Invested Amount as a percentage of
the Invested Amount on such Distribution Date 3.50%
G) Receivables Balances
(1) The aggregate amount of Principal Receivables in
the Trust at the close of business on the last
day of the immediately preceding Monthly Period $5,730,248,540
(2) The aggregate amount of Finance Charge
Receivables in the Trust at the close of
business on the last day of the immediately
preceding Monthly Period $215,155,619
H) Annualized Percentages
(1) The Gross Yield (Available Finance Charge
Collections for the Series 2000-3 Certificates
for the preceding Monthly Period (excluding
payments received from Interest Rate Protection
Agreements) divided by the Invested Amount of
the Series 2000-3 Certificates as of the last
day of the next preceding Monthly Period,
multiplied by 365 divided by the number of days
in the calendar month.) Effective November 2002
monthly period. 11.29%
(2) The Net Loss Rate (the Series 2000-3 Defaulted
Amount for the preceding Monthly Period divided
by the Invested Amount of the Series 2000-3
Certificates as of the last day of the next
preceding Monthly Period, multiplied by 12) 5.42%
(3) The Portfolio Yield (the Gross Yield minus the
Net Loss Rate for the Series 2000-3 Certificates
for the preceding Monthly Period) 5.87%
(4) The Base Rate (Monthly Interest plus Monthly
Servicing Fee (based on an assumed Servicing Fee
Rate of 2% per annum) for the preceding Monthly
Period with respect to the related Distribution
Date, divided by the Invested Amount of the
Series 2000-3 Certificates as of the last day of
the next preceding Monthly Period, multiplied by 12) 3.18%
(5) The Net Spread (the Portfolio Yield minus the
Base Rate for the Series 2000-3 Certificates for
the preceding Monthly Period) 2.69%
(6) The Monthly Payment Rate (Collections of
Principal Receivables and Finance Charge
Receivables with respect to all Receivables in
the Trust for the preceding Monthly Period
divided by the amount of Receivables in the
Trust as of the last day of the next preceding
Monthly Period) 9.53%
8
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Series 2000-3 Monthly Statement
September 15, 2003 Distribution Date
--------------------------------------
I) Series 2000-3 Information for the Last Three
Distribution Dates
1) Gross Yield
a) 09/15/03 11.29%
b) 08/15/03 13.95%
c) 07/15/03 19.15%
2) Net Loss Rate
a) 09/15/03 5.42%
b) 08/15/03 6.16%
c) 07/15/03 8.21%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 09/15/03 2.69%
b) 08/15/03 4.30%
c) 07/15/03 7.15%
Three Month Average 4.71%
4) Monthly Payment Rate
a) 09/15/03 9.53%
b) 08/15/03 9.62%
c) 07/15/03 9.67%
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,
Servicer
By:
----------------------------------------
Name: Patricia Garvey
Title: Vice President
9