EX-20.1 3 dex201.htm EXCESS SPREAD ANALYSIS Excess Spread Analysis
 
Exhibit 20.1
PARTNERS FIRST CREDIT CARD MASTER TRUST
 
EXCESS SPREAD ANALYSIS—OCTOBER 2002
 
Series
   
 
1998-3
 
Deal Size
   
$
750 MM
 
Expected Maturity
   
 
07/15/03
 
Yield
   
 
14.95
%
Less:  Coupon
   
 
1.89
%
       Servicing Fee
   
 
1.41
%
       Net Credit Losses
   
 
6.62
%
Excess Spread:
         
       October-02
   
 
5.03
%
       September-02
   
 
4.60
%
       August-02
   
 
6.11
%
Three month Average Excess Spread
   
 
5.25
%
Delinquencies:
         
       30 to 59 Days
   
 
1.85
%
       60 to 89 Days
   
 
1.29
%
       90 + Days
   
 
2.30
%
       Total
   
 
5.44
%
Payment Rate:
   
 
9.67
%