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The following is an excerpt from a 10-K SEC Filing, filed by FIRST USA BANK NATIONAL ASSOCIATION on 3/27/2002.
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CHASE BANK USA, NATIONAL ASSOCIATION - 10-K - 20020327 - PROPERTIES

ITEM 2. PROPERTIES

The property of the First USA Credit Card Master Trust (the "Trust") includes and will include receivables (the "Receivables") arising under certain VISA(R) and MasterCard(R)* revolving credit card accounts (the "Accounts") selected by the Transferor from a portfolio of VISA and MasterCard credit card accounts owned by First USA Bank, National Association (the "Transferor"), all monies due or to become due in payment of the Receivables, all proceeds of the Receivables and all monies on deposit in certain bank accounts of the Trust (other than certain investment earnings on such amounts), all amounts received by the Transferor or the Servicer with respect to Receivables in accounts which are written off as uncollectible ("Recoveries") and any Enhancement issued with respect to any undivided ownership interest in the assets of the Trust issued from time to time in one or more Series ("Series") or any class of such Series (a "Class"). The term "Enhancement" means, with respect to any Series or Class, any letter of credit, cash collateral account or guaranty, collateral invested amount, guaranteed rate agreement, maturity guaranty facility, tax protection agreement, interest rate swap or other contract or agreement for the benefit of certificateholders of such Series or Class. Enhancement may also take the form of subordination of one or more classes of a Series to any other Class or Classes of a Series or a cross-support feature which requires collections on receivables of one Series to be paid as principal and/or interest with respect to another Series.

The Transferor originally conveyed to the Trustee all Receivables existing under certain Accounts that were selected by the Transferor from the portfolio of VISA and MasterCard credit card accounts owned by the Transferor (the "Bank Portfolio"), based on criteria provided in the Pooling and Servicing Agreement as applied on August 21, 1992 (the "Cut Off Date"). Since the Cut Off Date, the Transferor has transferred to the Trust the Receivables in certain additional Accounts ("Additional Accounts") in accordance with the provisions of the Pooling and Servicing Agreement. The Transferor expects from time to time (subject to certain limitations and conditions), and in certain circumstances will be obligated, to designate Additional Accounts the Receivables in which will be included in the Trust. The Transferor will transfer to the Trust all Receivables in such Additional Accounts, whether such Receivables are then existing or thereafter created. The addition to the Trust of Receivables in Additional Accounts will be subject to certain conditions including, among others, that (a) each such Additional Account must be an eligible account at the time of its designation for inclusion in the Trust and (b) no selection procedure believed by the Transferor to be materially adverse to the interests of the holders of any Series of certificates will have been used in selecting such Additional Accounts.

The Receivables conveyed to the Trust have arisen and will arise in Accounts selected from the Bank Portfolio on the basis of criteria set forth in the Pooling and Servicing Agreement (the "Trust Portfolio"). The Receivables in the Trust Portfolio, as of the close of business on December 31, 2001, consisted of $35,441,778,098.79 of Principal Receivables and $689,630,539.28 of Finance Charge Receivables. As of December 31, 2001, Cardholders whose Accounts are included in the Trust Portfolio, had billing addresses in 50 states, the District of Columbia and other United States territories and possessions.


*VISA(R) and MasterCard(R) and are registered trademarks of Visa USA Incorporated and MasterCard International Incorporated, respectively.

5

The following table summarizes the Composition by Period of Delinquency for the Trust Portfolio as of the close of business on December 31, 2001. Because the future composition of the Trust Portfolio may change over time, this table is not necessarily indicative of the composition of the Trust Portfolio at any subsequent time.

Composition by Period of Delinquency Trust Portfolio

       Period of Delinquency                              Percentage
       (Days Contractually               Amount of         of Total
           Delinquent)                  Receivables       Receivables
           ----------                   -----------       -----------
30 to 59 Days ...................   $  523,818,312.65        1.45%
60 to 89 Days ...................   $  379,140,322.18        1.05%
90 to 119 Days ..................   $  282,026,938.94        0.78%
120 to 149 Days .................   $  211,723,033.23        0.59%
150 to 179 Days .................   $  174,776,310.60        0.48%
180 or More Days ................   $            0.00        0.00%
Total ...........................   $1,571,484,917.60        4.35%
                                    =================        =====

The aggregate amount of Receivables written off during the twelve-month reporting period was $2,135,431,998. The investor percentage of Principal Receivables written off (the "Investor Default Amount") during the reporting period was $1,659,314,507. The Investor Default Amount as a percentage of the average invested amount outstanding during the reporting period was approximately 6.26%.

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