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

Exhibit 28.1

 

WACHOVIA CREDIT CARD MASTER TRUST

 

Excess Spread Analysis—January 2004

 

Series

      1999-1 *     2000-1

Deal Size

    $ 896 MM     $ 750 MM

Expected Maturity

      04/15/04       07/15/05

Yield

      8.72%       16.02%

Less: Coupon

      1.42%       1.45%

Servicing Fee

      0.53%       1.50%

Net Credit Losses

      2.97%       6.09%

Excess Spread:

               

January-04

      3.80%       6.98%

December-03

      4.93%       7.26%

November-03

      5.70%       7.05%

Three month Average Excess Spread

      4.81%       7.10%

Delinquency:

               

30 to 59 days

      1.11%       1.11%

60 to 89 days

      0.74%       0.74%

90 + days

      1.60%       1.60%

Total

      3.45%       3.45%

Payment Rate

      9.64%       9.64%

 

*   Yield, Coupon, Net Credit Losses and Servicing Fee are skewed due to the calculation methodology during the accumulation period.