Exhibit 99.01

First USA Credit Card Master Trust

Excess Spread Analysis—April 2004

Series	1996-4	1997-2	1997-4	1997-5	1997-7	1997-8
Deal Size	$602MM	$602MM	$602MM	$783MM	$602MM	$939MM
Expected Maturity	8/10/2006	5/17/2004	6/17/2007	8/17/2004	9/17/2004	9/17/2007
Yield	15.06%	15.06%	15.06%	15.06%	15.06%	15.06%
Less: Coupon	1.41%	1.31%	1.40%	1.80%	1.29%	1.35%
Servicing Fee	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
Net Credit Losses	6.16%	6.16%	6.16%	6.16%	6.16%	6.16%
Excess Spread:
April-04	5.99%	6.09%	6.00%	5.60%	6.11%	6.05%
March-04	5.93%	6.04%	5.95%	5.55%	6.06%	6.00%
February-04	6.54%	6.64%	6.56%	6.15%	6.67%	6.61%
Three Month Average Excess Spread	6.15%	6.26%	6.17%	5.77%	6.28%	6.22%
Delinquency:
30 to 59 Days	1.18%	1.18%	1.18%	1.18%	1.18%	1.18%
60 to 89 Days	0.92%	0.92%	0.92%	0.92%	0.92%	0.92%
90+ Days	2.03%	2.03%	2.03%	2.03%	2.03%	2.03%
Total	4.13%	4.13%	4.13%	4.13%	4.13%	4.13%
Payment Rate	14.35%	14.35%	14.35%	14.35%	14.35%	14.35%
Series	1997-9	1998-4	1998-6	1998-8	1999-2	2001-1
Deal Size	$602MM	$843MM	$964MM	$602MM	$602MM	$893MM
Expected Maturity	10/17/2004	7/18/2005	8/18/2008	9/18/2005	2/21/2006	1/19/2006
Yield	15.06%	15.06%	15.06%	15.06%	15.06%	15.06%
Less: Coupon	1.26%	1.27%	1.74%	1.34%	1.82%	1.35%
Servicing Fee	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
Net Credit Losses	6.16%	6.16%	6.16%	6.16%	6.16%	6.16%
Excess Spread:
April-04	6.14%	6.13%	5.66%	6.06%	5.58%	6.05%
March-04	6.09%	6.08%	5.61%	6.01%	5.53%	6.00%
February-04	6.69%	6.69%	6.22%	6.62%	6.14%	6.61%
Three Month Average Excess Spread	6.31%	6.30%	5.83%	6.23%	5.75%	6.22%
Delinquency:
30 to 59 Days	1.18%	1.18%	1.18%	1.18%	1.18%	1.18%
60 to 89 Days	0.92%	0.92%	0.92%	0.92%	0.92%	0.92%
90+ Days	2.03%	2.03%	2.03%	2.03%	2.03%	2.03%
Total	4.13%	4.13%	4.13%	4.13%	4.13%	4.13%
Payment Rate	14.35%	14.35%	14.35%	14.35%	14.35%	14.35%

First USA Credit Card Master Trust

Excess Spread Analysis—April 2004

Series	2001-3	2001-4
Deal Size	$750MM	$714MM
Expected Maturity	3/20/2006	8/10/2006
Yield	15.06%	15.06%
Less: Coupon	1.34%	1.34%
Servicing Fee	1.50%	1.50%
Net Credit Losses	6.16%	6.16%
Excess Spread:
April-04	6.06%	6.06%
March-04	6.01%	6.01%
February-04	6.61%	6.61%
Three Month Average Excess Spread	6.23%	6.23%
Delinquency:
30 to 59 Days	1.18%	1.18%
60 to 89 Days	0.92%	0.92%
90+ Days	2.03%	2.03%
Total	4.13%	4.13%
Payment Rate	14.35%	14.35%