UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 8, 2008

Central Index Key Number of depositor: 0000819975, 0000869090

CHASE BANK USA, NATIONAL ASSOCIATION

(Depositor into the Issuer described herein)

Central Index Key Number of issuing entity: 0000890493

FIRST USA CREDIT CARD MASTER TRUST

(Issuer)

(Exact name of registrant as specified in its charter)

Laws of the United States	333-145109 333-131327	22-2382028
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

Chase Bank USA, National Association White Clay Center Building 200 Route 273 Newark, Delaware	19711
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (302) 575-5000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 – Other Events

Item 8.01 Other Events

On May 8, 2008, pursuant to Reassignment No. 12 of Receivables (the “Reassignment No. 12 of Receivables”), between Chase Bank USA, National Association, a national banking association (the “Bank”), and BNYM (Delaware) (formerly known as The Bank of New York (Delaware)), a banking corporation organized and existing under the laws of the State of Delaware (the “Trustee”), the Trustee on behalf of the First USA Credit Card Master Trust (the “Trust”), reconveyed accounts with an approximate aggregate amount of credit card receivables of $7.0 billion to the Bank.

The Bank services the receivables that are included in Reassignment No. 12 of Receivables and will continue to service the accounts associated with such receivables following Reassignment No. 12 of Receivables.

The management of the Bank believes that Reassignment No. 12 of Receivables will have no material effect on the Trust or the asset backed securities issued by the Trust.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statement and Exhibits.

The following exhibits are filed as a part of this report:

(10.1) Reassignment No. 12 of Receivables, dated as of May 8, 2008, by and between Chase Bank USA, National Association and BNYM (Delaware) (formerly known as The Bank of New York (Delaware)).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CHASE BANK USA, NATIONAL ASSOCIATION
	as Depositor, Transferor and Servicer of the First USA Credit Card Master Trust
	By:	/s/ Patricia M. Garvey
	Name:	Patricia M. Garvey
	Title:	Vice President
Date: May 8, 2008