Exhibit 99.1

Bank One Issuance Trust

Excess Spread Analysis

		Jan-03		Dec-02		Nov-02
Yield		15.18	%	16.56	%	14.96	%
Less:	Coupon	2.49	%	2.52	%	2.59	%
	Servicing Fee	1.50	%	1.50	%	1.50	%
	Net Credit Losses	5.15	%	5.72	%	5.90	%
Excess Spread		6.04	%	6.82	%	4.97	%
Three Month Average Excess Spread		5.94	%	6.11	%	5.93	%
Delinquency:
	30 to 59 days	1.35	%	1.35	%	1.37	%
	60 to 89 days	0.92	%	0.87	%	0.95	%
	90 + days	1.82	%	1.75	%	1.82	%
	Total	4.09	%	3.97	%	4.14	%
Payment Rate		18.06	%	17.91	%	12.48	%