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

 

Exhibit 28.1

 

WACHOVIA CREDIT CARD MASTER TRUST

 

Excess Spread Analysis—February 2003

 

Series

   

 

1999-1

   

 

2000-1

Deal Size

   

$

896 MM

   

$

750 MM

Expected Maturity

   

 

04/15/04

   

 

07/15/05

Yield

   

 

14.63%

   

 

14.63%

Less: Coupon

   

 

1.41%

   

 

1.40%

Servicing Fee

   

 

1.50%

   

 

1.50%

Net Credit Losses

   

 

5.68%

   

 

5.68%

Excess Spread:

              

February-03

   

 

6.04%

   

 

6.05%

January-03

   

 

5.28%

   

 

5.30%

December-02

   

 

6.64%

   

 

6.66%

Three month Average Excess Spread

   

 

5.99%

   

 

6.00%

Delinquency:

              

30 to 59 days

   

 

1.03%

   

 

1.03%

60 to 89 days

   

 

0.69%

   

 

0.69%

90 + days

   

 

1.43%

   

 

1.43%

Total

   

 

3.15%

   

 

3.15%

Payment Rate

   

 

8.86%

   

 

8.86%