Exhibit 99.1

Bank One Issuance Trust

Excess Spread Analysis

	Nov-03		Oct-03		Sep-03
Yield	14.15	%	14.47	%	15.40	%
Less: Coupon	1.97	%	1.97	%	1.94	%
Servicing Fee	1.50	%	1.50	%	1.50	%
Net Credit Losses	5.75	%	5.57	%	5.59	%
Excess Spread	4.93	%	5.43	%	6.37	%
Three Month Average Excess Spread	5.58	%	6.38	%	6.81	%
Delinquency:
30 to 59 days	1.30	%	1.26	%	1.28	%
60 to 89 days	0.91	%	0.90	%	0.89	%
90 + days	1.96	%	1.90	%	1.88	%
Total	4.17	%	4.06	%	4.05	%
Payment Rate	17.19	%	18.93	%	17.74	%