Exhibit 99.1

Chase Issuance Trust

Excess Spread Analysis

	Aug-05		Jul-05		Jun-05
Yield	15.64	%	15.92	%	15.82	%
Less: Coupon	3.75	%	3.59	%	3.44	%
Servicing Fee	1.50	%	1.50	%	1.50	%
Net Credit Losses	4.92	%	5.13	%	5.03	%
Excess Spread	5.47	%	5.70	%	5.85	%
Three Month Average Excess Spread	5.67	%	5.95	%	5.94	%
Delinquency:
30 to 59 days	1.03	%	1.08	%	1.08	%
60 to 89 days	0.69	%	0.74	%	0.71	%
90 + days	1.40	%	1.48	%	1.45	%
Total	3.12	%	3.30	%	3.24	%
Payment Rate	19.11	%	18.93	%	18.38	%