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 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 March 15, 2005,and with
respect to the performance of the Trust during the month of February 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 ($0.000000)
(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 ($0.000000)
(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 $1,002.387778
(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 $2.387778
(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 $1,000.000000
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 $52,188,648.85
(b) The aggregate amount of
Interchange collected and
allocated to the Trust for the
Monthly Period immediately
preceding the Distribution Date $4,749,761.21
1
--------------------------------
Series 2000-1 Monthly Statement
March 15, 2005 Distribution Date
--------------------------------
(c) The aggregate amount of
Principal Receivables collected
during the Monthly Period
immediately preceding the
Distribution Date $403,358,743.30
(d) The Floating Allocation
Percentage with respect to the
Series 2000-1 Certificates for
the Monthly Period immediately
preceding the Distribution Date 1.834732%
(e) The Principal Allocation
Percentage with respect to the
Series 2000-1 Certificates for
the Monthly Period immediately
preceding the Distribution Date 11.836984%
(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 $1,044,667.50
(g) The Principal Receivables
collected and allocated to the
Series 2000-1 Certificates for
the Monthly Period immediately
preceding the Distribution Date $47,745,508.80
(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
$1,044,667.50
(b) Collection Account and Special
Funding Account investment
earnings allocated to the
Series 2000-1 Certificates $0.00
(c) Principal Funding Account
Investment Proceeds $39,447.64
(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) $1,084,115.14
2
--------------------------------
Series 2000-1 Monthly Statement
March 15, 2005 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 $47,745,508.80
(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 $505,761.76
(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) $48,251,270.56
(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 $88,078,227
(b) 61-90 days 61,466,907
(c) 91 or more days 136,803,568
--------------
(d) Total Delinquencies $286,348,702
(5) Defaulted Amount
(a) The aggregate amount of
Defaulted Receivables with
respect to the Trust for the
Monthly Period immediately
preceding the Distribution Date $32,634,691.27
(b) The aggregate Amount of
Recoveries of Defaulted
Receivables processed during
the Monthly Period immediately
preceding the Distribution Date $5,068,723.79
(c) The Defaulted Amount for the
Monthly Period immediately
preceding the Distribution Date
[Defaulted Receivables minus
Recoveries] $27,565,967.48
(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") $505,761.76
(e) The Class A Defaulted Amount
[Series 2000-1 Defaulted Amount
multiplied by the Class A
Percentage] ($0.00)
(f) The Class B Defaulted Amount
[Series 2000-1 Defaulted Amount
multiplied by the Class B
Percentage] $146,834.06
3
--------------------------------
Series 2000-1 Monthly Statement
March 15, 2005 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
--------------------------------
Series 2000-1 Monthly Statement
March 15, 2005 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 2000-1 Monthly Statement
March 15, 2005 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 $118,671.88
(11) Class A Monthly Interest
(a) Class A Monthly Interest
payable on the Distribution Date ($0.00)
(12) Class B Monthly Interest
(a) Class B Monthly Interest
payable on the Distribution Date $112,822.50
(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
May 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
6
--------------------------------
Series 2000-1 Monthly Statement
March 15, 2005 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 $0.00
(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 0.000000
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 $0.00
(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 0.000000
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 $17,373,729.44
(3) The Collateral Invested Amount as a
percentage of the Invested Amount on
such Distribution Date 52.45%
7
--------------------------------
Series 2000-1 Monthly Statement
March 15, 2005 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 --
(3) The Class D Invested Amount as a
percentage of the Invested Amount on
such Distribution Date 47.55%
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 $4,352,813,824
(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 $248,739,922
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. 17.37%
(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) 7.46%
(3) The Portfolio Yield (the Gross Yield minus
the Net Loss Rate for the Series 2000-1
Certificates for the preceding Monthly
Period) 9.91%
(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) 4.24%
(5) The Net Spread (the Portfolio Yield
minus the Base Rate for the Series
2000-1 Certificates for the preceding
Monthly Period) 5.67%
(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) 9.85%
8
--------------------------------
Series 2000-1 Monthly Statement
March 15, 2005 Distribution Date
--------------------------------
I) Series 2000-1 Information for the
Last Three Distribution Dates
1) Gross Yield
a) 03/15/05 17.37%
b) 02/15/05 18.11%
c) 01/18/05 10.88%
2) Net Loss Rate
a) 03/15/05 7.46%
b) 02/15/05 6.48%
c) 01/18/05 2.13%
3) Net Spread (Portfolio
Yield Minus Base Rate)
a) 03/15/05 5.67%
b) 02/15/05 7.03%
c) 01/18/05 1.56%
Three Month Average 4.75%
4) Monthly Payment Rate
a) 03/15/05 9.85%
b) 02/15/05 10.48%
c) 01/18/05 10.15%
CHASE 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 Bank USA, National Association as Servicer, and The Bank of
New York as Trustee, Chase 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 March 15, 2005 and with respect to the performance of the
Trust during the month of February 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 $2.146667
(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 $2.146667
(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 $2.411111
(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 $2.411111
(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 $52,188,648.85
1
-------------------------------------
Series 2000-2 Monthly Statement
March 15, 2005 Distribution Date
-------------------------------------
(b) The aggregate amount of
Interchange collected and
allocated to the Trust for the
Monthly Period immediately
preceding the Distribution Date $4,749,761.21
(c) The aggregate amount of
Principal Receivables
collected during the Monthly
Period immediately preceding
the Distribution Date $403,358,743.30
(d) The Floating Allocation
Percentage with respect to the
Series 2000-2 Certificates for
the Monthly Period immediately
preceding the Distribution Date 7.515831%
(e) The Principal Allocation
Percentage with respect to the
Series 2000-2 Certificates for
the Monthly Period immediately
preceding the Distribution Date 13.049993%
(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 $4,279,394.57
(g) The Principal Receivables
collected and allocated to the
Series 2000-2 Certificates for
the Monthly Period immediately
preceding the Distribution Date $52,638,286.65
(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 $4,279,394.57
(b) Collection Account and Special
Funding Account investment
earnings allocated to the
Series 2000-2 Certificates $0.00
(c) Principal Funding Account
Investment Proceeds $396,595.06
(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
March 15, 2005 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) $4,675,989.63
(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 $52,638,286.65
(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 $2,071,811.48
(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) $54,710,098.13
(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 $88,078,227
(b) 61-90 days 61,466,907
(c) 91 or more days 136,803,568
------------
(d) Total Delinquencies $286,348,702
(5) Defaulted Amount
(a) The aggregate amount of
Defaulted Receivables with
respect to the Trust for the
Monthly Period immediately
preceding the Distribution Date $32,634,691.27
(b) The aggregate Amount of
Recoveries of Defaulted
Receivables processed
during the Monthly Period
immediately preceding the
Distribution Date $5,068,723.79
3
-------------------------------------
Series 2000-2 Monthly Statement
March 15, 2005 Distribution Date
-------------------------------------
(c) The Defaulted Amount for the
Monthly Period immediately
preceding the Distribution
Date [Defaulted Receivables
minus Recoveries] $27,565,967.48
(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") $2,071,811.48
(e) The Class A Defaulted Amount
[Series 2000-2 Defaulted
Amount multiplied by the Class
A Percentage] $1,271,293.94
(f) The Class B Defaulted Amount
[Series 2000-2 Defaulted
Amount multiplied by the Class
B Percentage] $368,561.26
(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
aqplied to such Class A
Defaulted Amount, (ii)
Reallocated Principal
Collections aqplied 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
March 15, 2005 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
aqplied to such Class B
Defaulted Amount, (ii)
Reallocated Class D Principal
Collections aqplied to such
Class B Defaulted Amount,
(iii) Reallocated Collateral
Principal Collections aqplied
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
aqplied to such Collateral Defaulted
Amount, (ii) Reallocated Class D
Principal Collections aqplied 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
March 15, 2005 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 aqplied 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 $486,129.58
6
-------------------------------------
Series 2000-2 Monthly Statement
March 15, 2005 Distribution Date
-------------------------------------
(11) Class A Monthly Interest
(a) Class A Monthly Interest payable
on the Distribution Date $966,000.00
(12) Class B Monthly Interest
(a) Class B Monthly Interest payable
on the Distribution Date $142,978.89
(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 $286,363,000.00
(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 $2,250,000.00
(b) The Class A Required Reserve
Account Amount $2,250,000.00
(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
March 15, 2005 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
March 15, 2005 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 $4,352,813,824
(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 $248,739,922
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 366 divided by the number
of days in the calendar month)
Effective November 2002 monthly period. 10.53%
(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) 4.30%
(3) The Portfolio Yield (the Gross Yield
minus the Net Loss Rate for the Series
2000-2 Certificates for the preceding
Monthly Period) 6.23%
(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) 4.13%
(5) The Net Spread (the Portfolio Yield
minus the Base Rate for the Series
2000-2 Certificates for the preceding
Monthly Period) 2.10%
9
-------------------------------------
Series 2000-2 Monthly Statement
March 15, 2005 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) 9.85%
I) Series 2000-2 Information for the Last Three
Distribution Dates
1) Gross Yield
a) 03/15/05 10.53%
b) 02/15/05 12.32%
c) 01/18/05 13.04%
2) Net Loss Rate
a) 03/15/05 4.30%
b) 02/15/05 4.19%
c) 01/18/05 5.30%
3) Net Spread (Portfolio Yield Minus
Base Rate)
a) 03/15/05 2.10%
b) 02/15/05 3.95%
c) 01/18/05 3.02%
Three Month Average 3.02%
4) Monthly Payment Rate
a) 03/15/05 9.85%
b) 02/15/05 10.48%
c) 01/18/05 10.15%
CHASE BANK USA, NATIONAL ASSOCIATION,
Servicer
By: _________________________________
Name: Patricia Garvey
Title: Vice President
10