EX-20.2 4 dex202.htm MONTHLY TRUST ACTIVITY Monthly Trust Activity
Exhibit 20.2
 
PARTNERS FIRST CREDIT CARD MASTER TRUST
 
MONTHLY TRUST ACTIVITY
 
A.    Trust Level Activity
     
 Number of Days in Monthly Period
   
30
 Beginning Principal Receivables Balance
   
1,389,792,666.32
 Beginning Special Funding Account Balance
   
0.00
 Beginning Principal Receivables + SFA Balance
   
1,389,792,666.32
 Beginning Finance Charge Receivables
   
40,452,679.03
 Beginning Total Receivables
   
1,430,245,345.35
 Special Funding Account Earnings
   
0.00
 Finance Charge Collections
   
17,111,525.27
 Interest/Fee Reversals (Wachovia accounts only)
   
0.00
 Interchange Collections
   
3,340,826.11
 Collection Account Investment Proceeds
   
0.00
 Recoveries treated as Finance Charge Collections
   
0.00
 Total Finance Charge Receivables Collections
   
20,452,351.38
 Principal Receivables Collections
   
112,406,995.76
 Recoveries treated as Principal Collections
   
871,698.08
 Total Principal Receivables Collections
   
113,278,693.84
 Monthly Payment Rate (Principal plus Interest divided by Beg. Total Receivables)
   
9.06%
 Defaulted Amount (Net of Recoveries)
   
10,060,100.58
 Annualized Default Rate
   
8.69%
 Trust Gross Yield
   
17.66%
 Aggregate Account Addition or Removal (Y/N)?
   
N
 Date of Addition/Removal
   
N/A
 Principal Receivables at the end of the day of Addition/Removal
   
N/A
 SFA Balance at the end of the day of Addition/Removal
   
N/A
 Principal Receivables + SFA Balance at the end of the day of Addition/Removal
   
N/A
 Ending Principal Receivables Balance
   
1,373,535,252.04
 Ending Special Funding Account (SFA) Balance
   
0.00
 Ending Principal Receivables + SFA Balance
   
1,373,535,252.04
 Ending Finance Charge Receivables
   
39,828,228.08
 Ending Total Receivables
   
1,413,363,480.12
 Required Minimum Principal Balance (as of month end)
   
589,749,999.99

1

PARTNERS FIRST CREDIT MASTER TRUST
 
MONTHLY TRUST ACTIVITY
 
 
B.     Series Allocations
          
    
Total
   
1998-3
Group
        
1
Class A Initial Invested Amount
   
528,000,000.00
   
528,000,000.00
Class B Initial Invested Amount
   
113,000,000.00
   
113,000,000.00
Collateral Initial Invested Amount
   
67,000,000.00
   
67,000,000.00
Class D Initial Invested Amount
   
42,000,000.00
   
42,000,000.00
Total Initial Invested Amount
   
750,000,000.00
   
750,000,000.00
Required Transferor Amount (per definition)
   
50,684,425.79
   
50,684,425.79
Initial Invested Amount + Req Transf Amount
   
800,684,425.79
   
800,684,425.79
Series Allocation Percentage
   
100.00%
   
100.00%
Series Allocable Finance Charge Collections
   
20,452,351.38
   
20,452,351.38
Series Allocable Principal Collections
   
113,278,693.84
   
113,278,693.84
Series Allocable Defaulted Amounts
   
10,060,100.58
   
10,060,100.58
Series Allocable Servicing Fee
   
939,688.71
   
939,688.71
In Revolving Period?
        
N
Available for Principal Sharing Series
   
3,191,593.50
   
3,191,593.50
Principal Shortfall
   
0.00
   
0.00
Allocation of Shared Principal Collections
   
0.00
   
0.00
Available for Excess Allocation Series
   
2,837,260.16
   
2,837,260.16
Finance Charge Shortfall
   
0.00
   
0.00
Allocation of Excess Finance Charge Collections
   
0.00
   
0.00
 
 
B.     Series Allocations
         Amounts Due
     
  
1998-3
Transferor’s Percentage
   
54.94%
Principal Allocation Percentage
   
53.96%
Principal Collections
   
61,130,715.71
Floating Allocation Percentage
   
45.06%
Class A Certificate Rate
   
1.95313%
Class B Certificate Rate
   
2.18313%
CIA Certificate Rate
   
2.79813%
CIA Secured Loan Spread Rate
   
2.54813%
Class D Certificate Rate
   
0.00000%
Class A Interest
   
830,731.29
Class B Interest
   
198,725.47
Collateral Monthly Interest
   
92,558.53
Class D Interest
   
0.00
Investor Monthly Interest
   
1,122,015.29
Investor Default Amount (Net of Recoveries)
   
4,533,268.96
Interchange Collections
   
1,505,438.56
0.75% of Interchange
   
352,383.27
Servicer Interchange
   
352,383.27
Monthly Servicing Fee (Before Adjustments)
   
939,688.71
Interchange Adjustment
   
0.00
SFA Adjustment
   
0.00
Previous Period Adjustment
   
0.00
Total Monthly Servicing Fee (After all adjustments)
   
939,688.71
 
C.     Calculation of Redirected Investor Finance Charge Collections (“Socialism”)
          
    
Group I
   
1998-3
Beginning Invested Amount (Month)
   
733,099,831.25
   
733,099,831.25
Finance Charge Collections
   
9,216,211.01
   
9,216,211.01
Reserve Account Interest
   
4,136.00
   
4,136.00
PFA Proceeds
   
211,886.11
   
211,886.11
Total Finance Charge Collections
   
9,432,233.12
   
9,432,233.12
Investor Monthly Interest
   
1,122,015.29
   
1,122,015.29
Investor Default Amount
   
4,533,268.96
   
4,533,268.96
Monthly Servicing Fee
   
939,688.71
   
939,688.71
Additional Amounts
   
0.00
   
0.00
Total Amount Due
   
6,594,972.96
   
6,594,972.96
Group Excess?
   
Y
     
Amount per 4.10(A)
        
1,122,015.29
Amount per 4.10(B)                 used in a
        
4,533,268.96
Amount per 4.10(C)         shortfall scenario only
        
939,688.71
Amount per 4.10(D)
        
0.00
Redirected Finance Charge Collections
   
9,432,233.12
   
9,432,233.12
Amount of funds redistributed per 4.10
        
0.00
Redirected Finance Charge Collections—PFA Proceeds (Class A available funds)
        
9,220,347.01

2

PARTNERS FIRST CREDIT CARD MASTER TRUST
 
MONTHLY TRUST ACTIVITY
 
D.    Trust Performance
              
   30-59 Days Delinquent
   
26,267,489.64
     
                1.91
%
   60-89 Days Delinquent
   
16,488,991.77
     
1.20
%
   90+ Days Delinquent
   
31,073,692.08
     
2.27
%
   Total 30+ Days Delinquent
   
73,830,173.49
     
5.38
%
 
FIRST USA BANK, N.A.
AS SERVICER
 
By:
  
/s/    MICHAEL J. GRUBB
   
Name: Michael J. Grubb
Title: First Vice President

3