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—JULY 2002
 
Series
   
 
1998-3
 
Deal Size
   
$
750 MM
 
Expected Maturity
   
 
07/15/03
 
Yield
   
 
18.15
%
Less Coupon
   
 
1.96
%
Servicing Fee
   
 
1.86
%
Net Credit Losses
   
 
8.62
%
Excess Spread:
         
Jul-02
   
 
5.71
%
Jun-02
   
 
4.64
%
May-02
   
 
4.97
%
Three month Average Excess Spread
   
 
5.11
%
Delinquencies:
         
30 to 59 Days
   
 
1.75
%
60 to 89 Days
   
 
1.15
%
90 + Days
   
 
2.21
%
Total
   
 
5.11
%
Payment Rate:
   
 
9.00
%

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