Exhibit 99.1

Bank One Issuance Trust

Excess Spread Analysis

	Sep-03		Aug-03		Jul-03
Yield	15.40	%	16.37	%	15.59	%
Less: Coupon	1.94	%	1.96	%	1.96	%
Servicing Fee	1.50	%	1.50	%	1.50	%
Net Credit Losses	5.59	%	5.57	%	5.41	%
Excess Spread	6.37	%	7.34	%	6.72	%
Three Month Average Excess Spread	6.81	%	7.12	%	6.80	%
Delinquency:
30 to 59 days	1.28	%	1.20	%	1.22	%
60 to 89 days	0.89	%	0.85	%	0.85	%
90 + days	1.88	%	1.85	%	1.87	%
Total	4.05	%	3.90	%	3.94	%
Payment Rate	17.74	%	19.55	%	18.24	%