SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.    20549

FORM 10-K

(Mark One)

ý	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the fiscal year ended December 31, 2003
	or
	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
	For the transition period from          to

Commission file number    333-60418,   333-60418-01

WFN Credit Company, LLC
World Financial Network Credit Card Master Note Trust

(Exact name of registrant as specified in its charter)

Delaware	34-1772814
(State or other jurisdiction) of incorporation or organization)	(I.R.S. employer identification no.)
220 West Schrock Road Westerville, Ohio	43801
(Address of principal executive offices)	(Zip Code)
(614) 729-5044
(Phone number)

Securities registered pursuant to Section 12(b) of the Act:   None

Securities registered pursuant to Section 12(g) of the Act:   None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes  ý    No  o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K             (Not Applicable)

Indicate by check mark whether the registrant is an accelerated filer (as defined in 12b-2 of the Act). Yes  o    No  ý

Aggregate market value of voting stock held by nonaffiliates of the registrant.  $  0

No documents have been incorporated by reference in this Form 10-K.

PART I

In no action letters issued to a variety of issuers of pass-through securities representing ownership interests in trusts established by financial and retailing institutions, whose principal assets are receivables generated under consumer credit accounts owned by such institutions and transferred to such trusts, the Division of Corporation Finance has stated that it would not raise any objection if the servicer of the trust, on behalf of the trust, files its Annual Report on Form 10-K in accordance with a specified format.  See, e.g., Sears Credit Account Master Trust II (August 24, 1995), Mercantile Credit Card Master Trust (August 23, 1995); Banc One Credit Card Master Trust (May 26, 1995); Household Affinity Credit Card Master Trust I (April 29, 1994); Sears Credit Account Master Trust I (December 23, 1993); First Deposit Master Trust (December 23, 1993); Discover Card Trust 1993 B (April 9, 1993); Prime Credit Master Trust (January 29, 1993); Private Label Credit Card Master Trust (May 20, 1992); and Chase Manhattan Credit Card Trust 1990-A (March 22, 1991).

The World Financial Network Credit Card Master Note Trust (the “Trust”) was formed for the purpose of acquiring certain trust assets and issuing asset-backed notes under the Master Indenture dated as of August 1, 2001 (as supplemented from time to time, the “Indenture”) between World Financial Network Credit Card Master Note Trust (the “Issuer”) and BNY Midwest Trust Company (the “Indenture Trustee”) and one or more supplements thereto.  The property of the Trust includes World Financial Network Credit Card Master Trust Collateral Certificates (“Collateral Certificates”) representing an undivided interest in receivables and other property related thereto (the “Receivables”), held by the World Financial Network Credit Card Master Trust (the “Master Trust”), arising under private label credit card programs for a number of national retail and catalogue entities.

On August 21, 2001 the Trust issued: $702,000,000 Class A Floating Rate Asset Backed Notes, Series 2001-A; $76,500,000 Class B Floating Rate Asset Backed Notes, Series 2001-A; and $121,500,000 Class C Floating Rate Asset Backed Notes, Series 2001-A.  On November 7, 2002 the Trust issued: $468,000,000 Class A Series 2002-A Floating Rate Asset Backed Notes; $51,000,000 Class B Series 2002-A Floating Rate Asset Backed Notes; and $81,000,000 Class C

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Series 2002-A Floating Rate Asset Backed Notes.  On December 18, 2002 the Trust issued the Class A Series 2002-VFN Floating Rate Asset Backed Notes and the Class B Series 2002-VFN Floating Rate Asset Backed Notes.  On June 19, 2003 the Trust issued: $100,000,000 Class A-1 Floating Rate Asset Backed Notes, Series 2003-A; and $40,000,000 Class C-1 Floating Rate Asset Backed Notes, Series 2003-A.  On August 14, 2003 the Trust issued: $368,000,000 Class A-2 Floating Rate Asset Backed Notes, Series 2003-A; $51,000,000 Class B Floating Rate Asset Backed Notes, Series 2003-A and $41,0000,000 Class C-2 Floating Rate Asset Backed Notes, Series 2003-A.

The Trust has prepared and filed this Annual Report on Form 10-K in substantially the form to which the Division of Corporation Finance, in the no action letters referred to above, has stated that it would not object.

ITEM 1.BUSINESS

The Trust was formed for the purpose of acquiring certain trust assets and issuing asset-backed Notes under the Indenture.  The Trust assets consist of the Collateral Certificates representing an undivided interest in the receivables and other property related thereto, held by the Master Trust.

The Trust has issued four series of notes - Series 2001-A, Series 2002-A, Series 2002-VFN and Series 2003-A.  The Series 2001-A Class A Notes, Series 2001-A Class B Notes, Series 2002-A Class A Notes, Series 2002-A Class B Notes, Series 2002-A Class C Notes, Series 2003-A Class A-2 Notes, Series 2003-A Class B Notes, and the Series 2003-A Class C-2 Notes have been publicly issued.  The Series 2001-A Class C Notes, Series 2002-VFN, Class A Notes, Series 2003-A Class A-1 Notes, and the Series 2003-A Class C-1 Notes have been privately placed.  The Series 2002-VFN, Class B Notes were purchased by the transferor, WFN Credit Company, LLC

ITEM 2.PROPERTIES

There is nothing to report with regard to this item.

ITEM 3.LEGAL PROCEEDINGS

There is nothing to report with regard to this item.

ITEM 4.SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

There is nothing to report with regard to this item.

PART II

ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

To the knowledge of the Trust, there is an over the counter market in the Trust’s Series 2001-A Class A and Class B Notes, the Series 2002-A Class A, Class B and Class C Notes, and the Series 2003-A Class A-2 and Class C-2 Notes although the frequency of transactions varies substantially over time.

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ITEM 6.SELECTED FINANCIAL DATA

The selected financial data has been omitted since the required information is included in the financial statements.

ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The Trust has sold four series of Notes secured by an undivided interest in the Trust assets.  Those Notes are outstanding as of December 31, 2003 (dollars in thousands):

Description	$ Issued		% of Trust Portfolio
Series 2001-A, Class A	$	702,000	27.8	%
Series 2001-A, Class B	76,500		3.0	%
Series 2001-A, Class C	121,500		4.8	%
Series 2002-A, Class A	468,000		18.5	%
Series 2002-A, Class B	51,000		2.0	%
Series 2002-A, Class C	81,000		3.2	%
Series 2002-VFN	323,699		12.8	%
Series 2003-A, Class A-1	100,000		4.0	%
Series 2003-A, Class A-2	368,000		14.6	%
Series 2003-A, Class B	51,000		2.0	%
Series 2003-A, Class C-1	40,000		1.6	%
Series 2003-A, Class C-2	41,000		1.6	%

The Series 2001-A Class A Notes and Class B Notes have been publicly issued pursuant to the prospectus supplement dated August 9, 2001, and the prospectus, dated as of August 9, 2001.  The Series 2002-A Class A Notes, Class B Notes, and Class C Notes have been publicly issued pursuant to the prospectus supplement dated October 30, 2002 and the prospectus, dated as of October 15, 2002.  The Series 2003-A Class A-2 Notes, Class B Notes, and Class C-2 Notes have been publicly issued pursuant to the prospectus supplement dated August 8, 2003 and the prospectus, dated as of August 8, 2003.  The Series 2001-A Class C Notes, the Series 2002-VFN Notes, and the Series 2003-A Class A-1 Notes, and Class C-1 Notes have been privately placed.

ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

To manage our direct risk from market interest rates, we actively monitor the interest rates to minimize the impact that changes in interest rates have on the fair value of assets and cash flow.  To achieve this objective, we manage our exposure to fluctuations in market interest rates through the use of fixed rate debt instruments to the extent that reasonably favorable rates are obtainable with such arrangements.  In addition, we have entered into derivative financial instruments, interest rate swaps, to mitigate our interest rate risk and to effectively lock the interest rate on our variable rate debt.

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ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Cross Reference Sheet

Caption

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INDEPENDENT AUDITORS’ REPORT

To the World Financial Network Credit Card Master Note Trust

We have audited the accompanying statements of assets and liabilities arising from cash transactions of the World Financial Network Credit Card Master Note Trust (the “Trust”) as of December 31, 2003 and 2002, and the related statements of distributable income arising from cash transactions for the years then ended.  These financial statements are the responsibility of the management of the Trust.  Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America.  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements were prepared on the basis of cash receipts and disbursements, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America.

In our opinion, such financial statements present fairly, in all material respects, the assets and liabilities arising from cash transactions of the Trust as of December 31, 2003 and 2002, and its distributable income arising from cash transactions for the years then ended, on the basis of accounting described in Note 1.

By:	/s/ Deloitte & Touche, LLP
	Deloitte & Touche LLP
	Columbus, Ohio
	March 24, 2004

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WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST

STATEMENTS OF ASSETS AND LIABILITIES ARISING FROM CASH TRANSACTIONS

(in thousands of dollars)

	December 31, 2003		December 31, 2002
Assets
Cash Available for Distribution	$	414,078	$	326,309
Credit Card Receivables	2,543,851		1,804,990
Total Assets	$	2,957,929	$	2,131,299
Liabilities
Income to be Distributed	$	414,078	$	326,309
Asset-backed Notes:
Series 2001-A	900,000		900,000
Series 2002-A	600,000		600,000
Series 2003-A	600,000		—
Series 2002-VFN	323,699		230,058
Transferor’s Interest	120,152		74,932
Total Liabilities	$	2,957,929	$	2,131,299

See accompanying Notes to Financial Statements.

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WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST

STATEMENTS OF DISTRIBUTABLE INCOME ARISING FROM CASH TRANSACTIONS

(in thousands of dollars)

	Year Ended December 31, 2003		Year Ended December 31, 2002
Distributable Income
Allocable to Principal	$	4,381,412	$	2,118,795
Allocable to Interest	624,124		284,291
Total Distributable Income	$	5,005,536	$	2,403,086
Income Distributed
Distribution of Principal to Purchase New Receivables	$	4,016,410	$	1,827,704
Interest Paid on Asset Backed Notes	93,096		51,362
Servicing Fees	40,143		18,800
Distribution to Purchase New Receivables for Amounts Previously Written-off	201,869		96,784
Distribution on Transferor’s Interest	239,940		82,127
Income Distributed	$	4,591,458	$	2,076,777
Excess of Distributable Income over Income Distributed (Distributed January 15, 2004 and January 15, 2003 respectively)	$	414,078	$	326,309

See accompanying Notes to Financial Statements.

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WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST

NOTES TO FINANCIAL STATEMENTS

NOTE 1.General Information and Accounting Policies

The World Financial Network Credit Card Master Note Trust (the “Trust”) was formed for the purpose of acquiring certain trust assets and issuing asset-backed notes under the Master Indenture dated August 1, 2001 between World Financial Network Credit Card Master Note Trust (the “Issuer”) and BNY Midwest Trust Company (the “Indenture Trustee”) and one or more supplements thereto.  The property of the Trust includes World Financial Network Credit Card Master Trust Collateral Certificates (“Collateral Certificates”) representing an undivided interest in receivables and related property thereto (the “Receivables”), held by the World Financial Network Master Trust (the “Master Trust”), arising under private label credit card programs for a number of national retail and catalogue entities.

World Financial Network National Bank (the “Bank”) services the Receivables pursuant to the Second Amended and Restated Pooling and Servicing Agreement dated as of August 1, 2001 and pursuant to the Transfer and Servicing Agreement, dated as of August 1, 2001 and is compensated for acting as the servicer.  In order to facilitate its servicing functions and minimize administrative burdens and expenses, the Bank retains physical possession of the documents relating to the receivables as custodian for the trustee of the Master Trust and the Trust.  The Trust and the Master Trust have no employees.

The financial statements of the Trust are prepared on a cash basis of accounting which differs from financial statements prepared in accordance with accounting principles generally accepted in the United States of America in that interest income and the related assets are recognized when received rather than when earned and distributions to noteholders are recognized when paid rather than when the obligation is incurred.  The statement of assets and liabilities arising from cash transactions as of December 31, 2003 reflects the amounts to be distributed on January 15, 2004, which represents the distribution of income received by the Trust for the period December 1 through December 31, 2003.

NOTE 2.Sale of Notes

The Trust may issue from time to time asset-backed notes in one or more Series, which will consist of one or more classes of certificates, representing an undivided ownership interest in the Collateral Certificates.  As of December 31, 2003 the Trust had issued and had outstanding the following notes, representing the indicated undivided interest in the Collateral Certificates:

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Description	$ Issued		% of Trust Portfolio
Series 2001-A, Class A	$	702,000	27.8	%
Series 2001-A, Class B	76,500		3.0	%
Series 2001-A, Class C	121,500		4.8	%
Series 2002-A, Class A	$	468,000	18.5	%
Series 2002-A, Class B	51,000		2.0	%
Series 2002-A, Class C	81,000		3.2	%
Series 2002 VFN	323,699		12.8	%
Series 2003-A, Class A-1	$	100,000	4.0	%
Series 2003-A, Class A-2	$	368,000	14.6	%
Series 2003-A, Class B	$	51,000	2.0	%
Series 2003-A, Class C-1	$	40,000	1.6	%
Series 2003-A, Class C-2	$	41,000	1.6	%

The Series 2001-A Class A Notes and Class B Notes were publicly issued pursuant to a prospectus supplement dated August 9, 2001, and the prospectus, dated as of August 9, 2001.  The Series 2002-A Class A, Class B, and Class C Notes were publicly issued pursuant to a prospectus supplement dated October 30, 2002, and the prospectus dated as of October 15, 2002.  The Series 2003-A Class A-2 Notes, Class B Notes and the Class C-2 Notes were publicly issued pursuant to the prospectus supplement dated August 8, 2003, and the prospectus dated August 8, 2003.  The Series 2001-A, Class C Notes, Series 2002 VFN Notes, and the Series 2003-A, Class A-1 Notes and Class C-1 Notes were privately placed.  Collectively, holders of all Series are referred to as “Noteholders.”

NOTE 3.Principal and Interest Payment

Collections of principal on the receivables are used by the Trust to make principal distributions to Noteholders and to purchase new charge card receivables on a daily basis.

Collections of finance charges on the Receivables, which includes late fees, non-sufficient funds check fees and recoveries of amounts previously written-off, are used to pay interest to the Noteholders, pay servicing fees, to purchase new charge card receivables equal to amounts written-off during the month and to restore certain reserve and cash collateral accounts.  Excess finance charge collections, if any, are distributed to the WFN Credit Company LLC.

The distribution date is the 15th day of each month (or, if such day is not a business day, the next following business day).

NOTE 4.Federal Income Taxes

The Trust is not taxable as a corporation for Federal income tax purposes.  Accordingly, no provision for income taxes is reflected in the accompanying financial statements.

NOTE 5.Supplementary Financial Data (unaudited)

The following is a summary of distributable income for 2003 and 2002 arising from cash transactions (in thousands of dollars):

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2003	Principal		Interest		Servicing Fees		Defaulted Receivables		Transferor’s Interest		Total
Undistributed at December 31, 2002	$	291,091	$	6,488	$	2,700	$	13,761	$	12,269	$	326,309
Quarter Ended:
March 31, 2003	975,589		20,258		9,025		44,297		62,124		1,111,293
June 30, 2003	939,302		21,756		10,481		53,073		57,402		1,082,014
September 30, 2003	1,084,277		26,484		10,750		52,995		66,191		1,240,697
December 31, 2003	1,091,154		27,551		11,046		56,513		58,959		1,245,223
Total	$	4,381,413	$	102,537	$	44,002	$	220,639	$	256,945	$	5,005,536

2002	Principal		Interest		Servicing Fees		Defaulted Receivables		Transferor’s Interest		Total
Undistributed at December 31, 2001	$	148,107	$	3,876	$	1,500	$	8,286	$	5,736	$	167,505
Quarter Ended:
March 31, 2002	446,123		11,979		4,500		23,537		22,664		508,803
June 30, 2002	442,253		12,130		4,500		23,903		17,864		500,650
September 30, 2002	428,875		12,262		4,500		20,400		20,606		486,643
December 31, 2002	653,437		17,602		6,500		34,419		27,527		739,485
Total	$	2,118,795	$	57,849	$	21,500	$	110,545	$	94,397	$	2,403,086

NOTE 6:Fair Value of Financial Instruments

The fair value of the Trust’s credit card receivables approximate their carrying value due to the short maturity and average interest rates that approximate current market rates.

The fair value of the asset-backed Notes is estimated to be $2,431 million (carrying value of $2,424 million) as of December 31, 2003 and $1,727 million (carrying value of $1,730 million) as of December 31, 2002, based on quoted market prices or current market rates for similar securities with similar remaining maturities and interest rates.  (See also Note 7)

NOTE 7:INTEREST SWAPS

In August 2001, the Trust entered into three interest rate swap agreements with JPMorgan Chase Bank (“Morgan”) with a total notional amount of $900 million.  The interest rate swaps effectively change the Trust’s interest rate exposure on $702.0 million, $76.5 million, and $121.5 million of asset-backed notes to a fixed rate of approximately 4.87%, 4.87% and 4.92% respectively.  In November 2002, the Trust entered into three additional interest rate swap agreements with Morgan with a total notional amount of $600 million. The interest rate swaps effectively change the Trust’s interest rate exposure on $468.0 million, $51.0 million, and $81.0 million of asset-backed notes to a fixed rate of approximately 3.52%, 3.52% and 3.56% respectively.

In June 2003, the Trust entered into two additional interest rate swap agreements with Morgan with a total notional amount of $140.0 million.  The

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interest rate swaps effectively change the Trust’s interest rate exposure on $100 million and $40 million for 5 consecutive 1 year terms beginning in June 2003 to a fixed rate as shown in the schedule below.  In August 2003, the Trust entered into three additional interest rate swap agreements with Morgan with a total notional amount of $460.0 million.  The interest rate swaps effectively change the Trust’s interest rate exposure on $368 million, $51 million and $41 million for 5 consecutive 1 year terms beginning in August 2003 as shown in the schedule below.

(in $000’s) Notional Amount		For each period		Fixed Rate
		From and Including	To but Excluding
$	100,000	June 19, 2003	June 15, 2004	4.07	%
$	100,000	June 15, 2004	June 15, 2005	3.37	%
$	100,000	June 15, 2005	June 15, 2006	2.67	%
$	100,000	June 15, 2006	June 15, 2007	1.97	%
$	100,000	June 15, 2007	May 15, 2008	1.27	%
$	100,000	May 15, 2008	—	2.68	%
$	40,000	June 19, 2003	June 15, 2004	4.70	%
$	40,000	June 15, 2004	June 15, 2005	3.70	%
$	40,000	June 15, 2005	June 15, 2006	2.70	%
$	40,000	June 15, 2006	June 15, 2007	1.70	%
$	40,000	June 15, 2007	June 16, 2008	0.70	%
$	40,000	June 16, 2008	—	2.70	%
$	368,000	August 14, 2003	June 15, 2004	4.12	%
$	368,000	June 15, 2004	June 15, 2005	3.79	%
$	368,000	June 15, 2005	June 15, 2006	3.46	%
$	368,000	June 15, 2006	June 15, 2007	3.13	%
$	368,000	June 15, 2007	May 15, 2008	2.80	%
$	368,000	May 15, 2008	—	3.47	%
$	51,000	August 14, 2003	June 15, 2004	4.50	%
$	51,000	June 15, 2004	June 15, 2005	3.98	%
$	51,000	June 15, 2005	June 15, 2006	3.45	%
$	51,000	June 15, 2006	June 15, 2007	2.93	%
$	51,000	June 15, 2007	May 15, 2008	2.40	%
$	51,000	May 15, 2008	—	3.45	%
$	41,000	August 14, 2003	June 15, 2004	5.20	%
$	41,000	June 15, 2004	June 15, 2005	4.36	%
$	41,000	June 15, 2005	June 15, 2006	3.51	%
$	41,000	June 15, 2006	June 15, 2007	2.67	%
$	41,000	June 15, 2007	June 16, 2008	1.82	%
$	41,000	June 16, 2008	—	3.51	%

Management believes the counterparty will be able to perform under the terms of the interest rate swap agreements.  The notional amount of swaps, $900 million, $600 million, $140 million and $460 million as of December 31, 2003 will decrease with a corresponding decrease of the related securitized receivables.  The fair value of the interest rate swaps was estimated based on the monies the Trust would receive/(pay) if they terminated the agreements.

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Notional Amount (Millions)					Swap Period	Variable Rate Received	Fixed Rate Paid		Fair Value (000’s)
$				702.0	August 2, 2001 through June 16, 2008	USD-LIBOR-BBA	4.870	%	$	(17,262	)
$				76.5	August 2, 2001 through June 16, 2008	USD-LIBOR-BBA	4.870	%	$	(1,881	)
$				121.5	August 2, 2001 through June 16, 2008	USD-LIBOR-BBA	4.920	%	$	(3,379	)
$				468.0	November 7, 2002 through October 15, 2007	USD-LIBOR-BBA	3.520	%	$	(8,051	)
$				51.0	November 7, 2002 through October 15, 2007	USD-LIBOR-BBA	3.520	%	$	(877	)
$			81.0		November 7, 2002 through November 15, 2007	USD-LIBOR-BBA	3.560	%	$	(1,428	)
$			100.0		June 19, 2003 through May 15, 2008	USD-LIBOR-BBA	1.27% - 4.07	%*	$	3,052
$		40.0			June 19, 2003 through June 16, 2008	USD-LIBOR-BBA	0.70% - 4.70	%*	$	1,374
$			368.0		August 14, 2003 through May 15, 2008	USD-LIBOR-BBA	2.80% - 4.12	%*	$	(1,821	)
$			51.0		August 14, 2003 through May 15, 2008	USD-LIBOR-BBA	2.40% - 4.50	%*	$	(175	)
$	41.0				August 14, 2003 through June 16, 2008	USD-LIBOR-BBA	1.82% - 5.20	%*	$	(66	)

* See previous table.

ITEM 9.CHANGES AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

There is nothing to report with regard to this item.

PART III

ITEM 10.DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

There is nothing to report with regard to this item.

II-8

ITEM 11.EXECUTIVE COMPENSATION

There is nothing to report with regard to this item.

ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

There is nothing to report with regard to this item.

ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

There is nothing to report with regard to this item.

ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES

No response required pursuant to Instruction to Item 14.

PART IV

ITEM 15.EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

a)Listed below are the documents filed as part of this report:

(1)The following exhibits are filed as part of this Annual Report.

31.1	Rule 13a-14(a)/15d-14(a) Certifications
31.2	Rule 13a-14(a)/15d-14(a) Certifications
32.1	Rule 13a-14(b)/15d-14(b) Certifications
32.2	Rule 13a-14(b)/15d-14(b) Certifications
99.1	Annual Servicer’s Certificate

b)Reports on Form 8-K:

The following current reports on Form 8-K were filed for the fourth quarter of 2003:

Monthly Report	Date of Report
October 2003	November 17, 2003
November 2003	December 15, 2003
December 2003	January 15, 2004

c)Omitted

d)Omitted

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Bank, on behalf of the Trust, has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	By:	World Financial Network Credit Card
		Master Note Trust
		World Financial Network National
		Bank, as Servicer
Date: March 30, 2004	By:	Daniel T. Groomes
		President
	By:	WFN Credit Company, LLC, as
		Transferor
Date: March 30, 2004	By:	Daniel T. Groomes
		President

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