EX-28.1 3 dex281.htm EXCESS SPREAD ANALYSIS Excess Spread Analysis

 

Exhibit 28.1

 

WACHOVIA CREDIT CARD MASTER TRUST

 

Excess Spread Analysis—January 2003

 

Series

   

 

1999-1

   

 

2000-1

Deal Size

   

$

896 MM

   

$

750 MM

Expected Maturity

   

 

04/15/04

   

 

07/15/05

Yield

   

 

14.10%

   

 

14.10%

Less: Coupon

   

 

1.82%

   

 

1.80%

Servicing Fee

   

 

1.50%

   

 

1.50%

Net Credit Losses

   

 

5.50%

   

 

5.50%

Excess Spread:

              

January-03

   

 

5.28%

   

 

5.30%

December-02

   

 

6.64%

   

 

6.66%

November-02

   

 

6.16%

   

 

6.17%

Three month Average Excess Spread

   

 

6.03%

   

 

6.04%

Delinquency:

              

30 to 59 days

   

 

1.01%

   

 

1.01%

60 to 89 days

   

 

0.70%

   

 

0.70%

90 + days

   

 

1.40%

   

 

1.40%

Total

   

 

3.11%

   

 

3.11%

Payment Rate

   

 

9.80%

   

 

9.80%