EX-20.1 3 dex201.htm EXCESS SPREAD ANALYSIS Prepared by R.R. Donnelley Financial -- Excess Spread Analysis
Exhibit 20.1
 
PARTNERS FIRST CREDIT CARD MASTER TRUST
 
EXCESS SPREAD ANALYSIS—AUGUST 2002
 
Series
   
 
1998-3
 
Deal Size
   
$
750 MM
 
Expected Maturity
   
 
07/15/03
 
Yield
   
 
17.05
%
Less: Coupon
   
 
1.89
%
Servicing Fee
   
 
1.71
%
Net Credit Losses
   
 
7.34
%
Excess Spread:
         
August-02
   
 
6.11
%
July-02
   
 
5.71
%
June-02
   
 
4.64
%
Three month Average Excess Spread
   
 
5.49
%
Delinquencies:
         
30 to 59 Days
   
 
1.76
%
60 to 89 Days
   
 
1.18
%
90+ Days
   
 
2.21
%
Total
   
 
5.15
%
Payment Rate:
   
 
9.29
%

1