Exhibit 99.1

Chase Credit Card Master Trust

Excess Spread Analysis - April 2006

Series Deal Size Expected Maturity	1996-3 $435MM 7/15/2006		1998-4 $599MM 9/15/2008		2001-2 $595MM 6/15/2006		2001-4 $1,000MM 8/15/2006		2001-6 $1,200MM 12/15/2006		2002-1 $1,000MM 3/15/2007
Yield	17.26	%	17.24	%	17.26	%	17.26	%	17.24	%	17.24	%
Less: Coupon	6.90	%	4.98	%	5.02	%	4.75	%	5.06	%	5.01	%
Servicing Fee	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%
Net Credit Losses	3.88	%	3.88	%	3.88	%	3.88	%	3.88	%	3.88	%
Excess Spread:
April-06	4.98	%	6.88	%	6.86	%	7.14	%	6.81	%	6.85	%
March-06	8.05	%	10.03	%	10.07	%	9.65	%	10.01	%	10.05	%
February-06	6.32	%	8.39	%	8.41	%	8.67	%	8.37	%	8.41	%
Three Month Average Excess Spread	6.45	%	8.43	%	8.45	%	8.49	%	8.40	%	8.44	%
Delinquency:
30 to 59 Days	1.12	%	1.12	%	1.12	%	1.12	%	1.12	%	1.12	%
60 to 89 Days	0.76	%	0.76	%	0.76	%	0.76	%	0.76	%	0.76	%
90+ Days	1.53	%	1.53	%	1.53	%	1.53	%	1.53	%	1.53	%
Total	3.41	%	3.41	%	3.41	%	3.41	%	3.41	%	3.41	%
Principal Payment Rate	17.28	%	17.28	%	17.28	%	17.28	%	17.28	%	17.28	%
Series Deal Size Expected Maturity	2002-3 $1,500MM 6/15/2009		2002-5 $1,000MM 7/15/2007		2002-7 $750MM 11/15/2007		2003-2 $1,340MM 4/15/2008		2003-3 $1,425MM 7/15/2008		2003-4 $725MM 10/15/2013
Yield	17.24	%	17.24	%	17.24	%	17.24	%	17.24	%	17.24	%
Less: Coupon	5.08	%	5.01	%	5.06	%	5.05	%	5.03	%	5.17	%
Servicing Fee	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%
Net Credit Losses	3.88	%	3.88	%	3.88	%	3.88	%	3.88	%	3.88	%
Excess Spread:
April-06	6.78	%	6.85	%	6.81	%	6.81	%	6.83	%	6.69	%
March-06	9.99	%	10.06	%	10.01	%	10.02	%	10.04	%	9.89	%
February-06	8.34	%	8.42	%	8.37	%	8.38	%	8.40	%	8.25	%
Three Month Average Excess Spread	8.37	%	8.44	%	8.39	%	8.40	%	8.42	%	8.28	%
Delinquency:
30 to 59 Days	1.12	%	1.12	%	1.12	%	1.12	%	1.12	%	1.12	%
60 to 89 Days	0.76	%	0.76	%	0.76	%	0.76	%	0.76	%	0.76	%
90+ Days	1.53	%	1.53	%	1.53	%	1.53	%	1.53	%	1.53	%
Total	3.41	%	3.41	%	3.41	%	3.41	%	3.41	%	3.41	%
Principal Payment Rate	17.28	%	17.28	%	17.28	%	17.28	%	17.28	%	17.28	%

Series Deal Size Expected Maturity	2003-5 $1,000MM 10/15/2008		2003-6 $2,000MM 11/15/2008		2004-1 $1,500MM 2/15/2007		2004-2 $1,750MM 6/15/2007
Yield	17.24	%	17.24	%	17.24	%	17.24	%
Less: Coupon	5.02	%	5.00	%	4.90	%	4.91	%
Servicing Fee	1.50	%	1.50	%	1.50	%	1.50	%
Net Credit Losses	3.88	%	3.88	%	3.88	%	3.88	%
Excess Spread:
April-06	6.84	%	6.86	%	6.97	%	6.95	%
March-06	10.05	%	10.07	%	10.17	%	10.16	%
February-06	8.40	%	8.42	%	8.52	%	8.50	%
Three Month Average Excess Spread	8.43	%	8.45	%	8.55	%	8.54	%
Delinquency:
30 to 59 Days	1.12	%	1.12	%	1.12	%	1.12	%
60 to 89 Days	0.76	%	0.76	%	0.76	%	0.76	%
90+ Days	1.53	%	1.53	%	1.53	%	1.53	%
Total	3.41	%	3.41	%	3.41	%	3.41	%
Principal Payment Rate	17.28	%	17.28	%	17.28	%	17.28	%