Exhibit 99.01

Chase Credit Card Master Trust

Excess Spread Analysis—May 2008

Series Deal Size Expected Maturity	2002-3 $1,500MM 6/15/2009		2003-3 $1,425MM 7/15/2008		2003-4 $725MM 10/15/2013		2003-5 $1,000MM 10/15/2008		2003-6 $2,000MM 11/15/2008
Yield	16.15	%	16.15	%	16.15	%	16.15	%	16.15	%
Less: Coupon	2.76	%	2.70	%	2.85	%	2.70	%	2.68	%
Servicing Fee	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%
Net Credit Losses	5.16	%	5.16	%	5.16	%	5.16	%	5.16	%
Excess Spread:
May-08	6.73	%	6.79	%	6.64	%	6.79	%	6.81	%
April-08	6.60	%	6.65	%	6.50	%	6.66	%	6.67	%
March-08	7.67	%	7.72	%	7.58	%	7.73	%	7.75	%
Three Month Average Excess Spread	7.00	%	7.05	%	6.91	%	7.06	%	7.08	%
Delinquency:
30 to 59 Days	0.91	%	0.91	%	0.91	%	0.91	%	0.91	%
60 to 89 Days	0.73	%	0.73	%	0.73	%	0.73	%	0.73	%
90+ Days	1.74	%	1.74	%	1.74	%	1.74	%	1.74	%
Total	3.38	%	3.38	%	3.38	%	3.38	%	3.38	%
Principal Payment Rate	17.59	%	17.59	%	17.59	%	17.59	%	17.59	%