EX-28.A 3 dex28a.htm EXCESS SPREAD ANALYSIS Excess Spread Analysis

 

Exhibit 28A

 

First Chicago Credit Card Master Trust II

Excess Spread Analysis—February 2003

 

Series

   

* 1999-X

     

1999-Y

  

Deal Size

   

$750MM

     

$550MM

  

Expected Maturity

   

6/16/2003

     

8/15/2003

  

Yield

   

12.91

%

   

18.59

%

Less: Coupon

   

1.55

%

   

1.60

%

        Servicing Fee

   

1.04

%

   

1.50

%

        Net Credit Losses

   

4.16

%

   

6.00

%

Excess Spread:

              

        February-03

   

6.16

%

   

9.49

%

        January-03

   

8.15

%

   

9.83

%

        December-02

   

10.46

%

   

10.46

%

Three Month Average Excess Spread

   

8.26

%

   

9.93

%

Delinquency:

              

        30 to 59 Days

   

1.25

%

   

1.25

%

        60 to 89 Days

   

0.87

%

   

0.87

%

        90+ Days

   

1.76

%

   

1.76

%

        Total

   

3.88

%

   

3.88

%

Payment Rate

   

25.97

%

   

25.97

%

 

*   Results are skewed downward due to the calculation methodology during the accumulation period.