Exhibit 99.1

Chase Issuance Trust

Excess Spread Analysis

	Sep-05		Aug-05		Jul-05
Yield	15.60	%	15.64	%	15.92	%
Less: Coupon	3.89	%	3.75	%	3.59	%
Servicing Fee	1.50	%	1.50	%	1.50	%
Net Credit Losses	4.42	%	4.92	%	5.13	%
Excess Spread	5.79	%	5.47	%	5.70	%
Three Month Average Excess Spread	5.65	%	5.67	%	5.95	%
Delinquency:
30 to 59 days	1.02	%	1.03	%	1.08	%
60 to 89 days	0.68	%	0.69	%	0.74	%
90 + days	1.36	%	1.40	%	1.48	%
Total	3.06	%	3.12	%	3.30	%
Payment Rate	18.64	%	19.11	%	18.93	%