Exhibit 99.1

Chase Issuance Trust

Excess Spread Analysis

	Dec-05		Nov-05		Oct-05
Yield	15.91	%	15.30	%	15.29	%
Less: Coupon	4.40	%	4.20	%	4.09	%
Servicing Fee	1.50	%	1.50	%	1.50	%
Net Credit Losses	5.80	%	6.84	%	4.91	%
Excess Spread	4.21	%	2.76	%	4.79	%
Three Month Average Excess Spread	3.92	%	4.45	%	5.35	%
Delinquency:
30 to 59 days	0.81	%	0.93	%	1.10	%
60 to 89 days	0.52	%	0.55	%	0.70	%
90 + days	0.94	%	1.04	%	1.41	%
Total	2.27	%	2.52	%	3.21	%
Principal Payment Rate	21.52	%	19.54	%	18.54	%