10-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2001
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to _______
Commission File Nos. 0-23942
HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST I
(Exact name of Registrant as specified in Department
Of the Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
DELAWARE (State or other jurisdiction of incorporation of Servicer)	36-3670374 (I.R.S. Employer Identification Number of Registrant)
2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070
(Address of principal executive offices of Servicer) (Zip Code)
Servicer's telephone number, including area code  (847) 564-5000
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes   X   No _____
The aggregate principal amount of the Certificates held by non-affiliates of the Servicer as of December 31, 2001 was approximately $917.5 million.

INTRODUCTORY NOTE
Household Affinity Funding Corporation II (the "Seller") is the seller under a Pooling and Servicing Agreement dated as of April 30, 1993, as amended by the Amended and Restated Pooling and Servicing Agreement dated as of August 1, 1993, as amended (collectively, the "Agreement") by and among the Seller, Household Finance Corporation, as Servicer (the "Servicer") and The Bank of New York, as trustee (the "Trustee"), as supplemented thereby by various series supplements, providing for the issuance of certificates in varying series (the "Certificates"), and is the originator of the trust called the Household Affinity Credit Card Master Trust I (the "Registrant" or the "Trust").
Each Certificate represents an undivided interest in a pool of receivables held by the Trust. The Certificates issued, or to be issued, may be senior ("Class A Certificates"), subordinated ("Class B Certificates") and Seller Certificate(s). The Registrant has prepared this Form 10-K in reliance upon various no-action letters issued by the Securities and Exchange Commission (the "Commission") to other trusts which are substantially similar to the Trust and as a result of the Commission's issuance of a favorable response to the Trust's Application for Exemptive Order pursuant to Section 12(h) of the Securities Exchange Act of 1934. Items designated herein as "Not Applicable" have been omitted as a result of this reliance and in anticipation of favorable action by the Commission.
PART I
Item 1. Business.
Not Applicable.
Item 2. Properties.
Not Applicable.
Item 3. Legal Proceedings.
The Servicer is not aware of any material pending legal proceedings involving either the Registrant, the Trustee, the Seller or the Servicer with respect to the Certificates or the Registrant's property.
Item 4. Submission of Matters to a Vote of Security Holders.
No vote or consent of the holders of the Certificates (the "Certificateholders") was solicited for any purpose during the year ended December 31, 2001.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
To the best knowledge of the Servicer, there is no established public trading market for the Certificates. As of February 26, 2002, there were 9 Class A Certificateholders (no more than 42 for any one series) and 2 Class B Certificateholders, some of whom may be holding Certificates for the accounts of others.
Item 6. Selected Financial Data.
Not Applicable.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Not Applicable.
Item 8. Financial Statements and Supplementary Data.
Not Applicable.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Not Applicable.
Item 11. Executive Compensation.
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
The Servicer is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Certificates. All Certificates are held in the name of The Depository Trust Company (DTC). The Servicer will provide, without charge, a listing of the beneficial owners as provided by DTC as of February 26, 2002.
Item 13. Certain Relationships and Related Transactions.
None or Not Applicable.
PART IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) List the following documents filed as a part of the report:
(1) Financial Statements
Not Applicable.
(2) Financial Statement Schedules
Not Applicable.
(3) The Servicer is obligated to prepare an Annual Statement to Certificateholders for the year 2001, and Independent Public Accountants are required to prepare an Annual Servicing Report pertaining to the compliance of the Servicer with its servicing obligations pursuant to the Agreement. Copies of said documents are or will be filed as exhibits to this Form 10-K when they are available.
(b) The Registrant filed the following current reports on Form 8-K for the fourth quarter of 2001.
Date of Reports			Items Covered
October 24, 2001 November 21, 2001 December 26, 2001.			Item 7. Statement to Certificateholders with respect to the distributions made on October 24, 2001, November 21, 2001 and December 26, 2001.
(c) Exhibit 99	Copy of Annual Statement to Certificateholders for the year 2001.
Exhibit 99	Copy of Independent Public Accountants Annual Servicing Reported dated March 22, 2002
(d) Not Applicable.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Servicer has duly caused this report to be signed on behalf of the Household Affinity Credit Card Master Trust I by the undersigned, thereunto duly authorized.
		HOUSEHOLD FINANCE CORPORATION, as Servicer of and on behalf of the HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST I (Registrant)
		By: /s/ John W. Blenke
		John W. Blenke      Vice President and Assistant Secretary
Dated: March 28, 2002
Exhibit Index
Exhibit No. 99	Exhibit Copy of Annual Statement to Certificateholders for the year ended December 31, 2001.
99	Copy of Independent Public Accountants Annual Servicing Reported dated March 22, 2002

EX-99

Household Finance Corporation
Household Affinity Funding Corporation II
Household Affinity Credit Card Master Trust I, Series 1997-1
Original Class A Principal	870,000,000
Number of Class A Bonds (000's)	870,000
Original Class B Principal	47,500,000
Number of Class B Bonds (000's)	47,500
		Year to
Distribution Date		Date
CLASS A
Class A Principal Distribution		0.00
Class A Interest		39,242,078.63
CLASS B
Class B Principal Distribution		0.00
Class B Interest		2,229,689.76
Household Finance Corporation
Household Affinity Funding Corporation II
Household Affinity Credit Card Master Trust I, Series 1998-1
Original Class A Principal	844,000,000
Number of Class A Bonds (000's)	844,000
Original Class B Principal	46,100,000
Number of Class B Bonds (000's)	46,100
		Year to
Distribution Date		Date
CLASS A
Class A Principal Distribution		844,000,000.00
Class A Interest		32,300,469.64
CLASS B
Class B Principal Distribution		46,100,000.00
Class B Interest		1,834,965.89

EX-99

INDEPENDENT ACCOUNTANTS REPORT ON APPLYING AGREED-UPON PROCEDURES

To Household Finance Corporation:

We have performed procedures enumerated below in items A. and B. in conjunction with Section 3.06 of the Pooling and Servicing Agreement, dated August 1, 1993, as amended and supplemented (the "Agreement").

A. We have audited, in accordance with auditing standards generally accepted in the United States, the consolidated financial statements of Household Finance Corporation (the "Servicer") and subsidiaries as of December 31, 2001, and have issued our report thereon dated January 14, 2002. We have not audited any financial statements of the Servicer as of any date or for any period subsequent to December 31, 2001, or performed any audit procedures subsequent to the date of our report on those statements.

In connection with our audit, nothing came to our attention that caused us to believe that the Servicer was not in compliance with any of the terms, covenants, provisions, or conditions in Sections 3.01, 3.02, 3.04, 3.09, 3.10, 4.02, 4.03, 4.04, and 8.08 (to the extent such sections are applicable to Household Finance Corporation as Servicer) of the Agreement, or Sections 3, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, and 4.17 (to the extent such sections are applicable to Household Finance Corporation as Servicer) of the Series 1993-B, Series 1996-A, Series 1996-B, Series 1997-A, Series 1997-1, Series 1998-A, Series 1998-1, Series 1999-A, Series 1999-B, Series 1999-D, Series 1999-E, Series 2000-A, and Series 2000-B Supplements, in conjunction with the servicing of consumer revolving credit card receivables owned by the Household Affinity Credit Card Master Trust I insofar as they relate to accounting matters. It should be noted, however, that our audit was not directed primarily toward o btaining knowledge of such noncompliance.

As a part of our audit, we obtained an understanding of the Servicers internal control structure over the Servicers entire consumer revolving credit card portfolio, including those loans serviced under the Agreement, and the related Supplements, to the extent considered necessary in order to assess control risk as required by generally accepted auditing standards. The purpose of our consideration of the internal control structure, which includes the accounting systems, was to determine the nature, timing, and extent of the auditing procedures necessary for expressing an opinion on the financial statements. Such audit procedures, however, were not performed in order to express a separate opinion on the Household Affinity Credit Card Master Trust I.

Our audit disclosed no exceptions or errors in records relating to credit card receivables serviced by the Servicer that, in our opinion, Section 3.06 of the Agreement required us to report.

B. We have performed the procedure described in the following paragraph, which was agreed to by the management of the Servicer, the Bank of New York as Trustee, and the Credit Enhancement Provider (together, the "Specified Users"), with respect to Section 3.06 of the Agreement, in conjunction with the servicing of consumer revolving credit card receivables owned by the Household Affinity Credit Card Master Trust I. This agreed-upon procedure was performed in accordance with standards established by the American Institute of Certified Public Accountants. The sufficiency of the procedure is solely the responsibility of the Specified Users of the report. Consequently, we make no representation regarding the sufficiency of the procedure described below either for the purpose for which this report has been requested or for any other purpose.

The procedure and associated findings are as follows:

From the Monthly Servicers Certificates prepared by the Servicer between January, 2001 and December, 2001, we selected the following months and performed the following procedure:

We compared the mathematical calculation of each amount set forth in the Monthly Servicers Certificates to the Servicers accounting records for the month of February, 2001, for Series 1996-A, Series 1997-1, Series 1997-A, Series 1998-1, Series 1998-A, Series 1999-A, Series 1999-D and Series 1999-E, for the month of April, 2001, for Series 1993-B, and for the month of October, 2001, for Series 1996-B, Series 1999-B, and Series 2000-B and found them to be in agreement. For Series 2000-A, we noted no activity in the series for the period between January, 2001 and December, 2001. Our comparisons were based on records provided to us by the Servicer and the methodology set forth in the Agreement.

With respect to the procedure performed in item B. above, we were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the Monthly Servicers Certificates described above. Accordingly, we do not express such an opinion. Had we been engaged to perform additional procedures, other matters might have come to our attention that would have been reported to you.

This report is intended solely for the information and use of the Specified Users and should not be used for any other purpose.

Arthur Andersen LLP

Chicago, Illinois

March 22, 2002