Exhibit 99.1

Chase Credit Card Master Trust

Excess Spread Analysis - July 2006

Series Deal Size Expected Maturity	1998-4 $599MM 9/15/2008		2001-4 $1,000MM 8/15/2006		2001-6 $1,200MM 12/15/2006		2002-1 $1,000MM 3/15/2007		2002-3 $1,500MM 6/15/2009		2002-5 $1,000MM 7/15/2007
Yield	17.24	%	17.29	%	17.24	%	17.24	%	17.24	%	17.24	%
Less: Coupon	5.50	%	5.71	%	5.56	%	5.52	%	5.58	%	5.51	%
Servicing Fee	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%
Net Credit Losses	4.42	%	4.42	%	4.42	%	4.42	%	4.42	%	4.42	%
Excess Spread:
July-06	5.82	%	5.67	%	5.76	%	5.80	%	5.74	%	5.81	%
June-06	7.18	%	6.88	%	7.13	%	7.17	%	7.11	%	7.18	%
May-06	7.40	%	7.23	%	7.33	%	7.37	%	7.31	%	7.38	%
Three Month Average Excess Spread	6.80	%	6.59	%	6.74	%	6.78	%	6.72	%	6.79	%
Delinquency:
30 to 59 Days	1.03	%	1.03	%	1.03	%	1.03	%	1.03	%	1.03	%
60 to 89 Days	0.73	%	0.73	%	0.73	%	0.73	%	0.73	%	0.73	%
90+ Days	1.66	%	1.66	%	1.66	%	1.66	%	1.66	%	1.66	%
Total	3.42	%	3.42	%	3.42	%	3.42	%	3.42	%	3.42	%
Principal Payment Rate	18.36	%	18.36	%	18.36	%	18.36	%	18.36	%	18.36	%
Series Deal Size Expected Maturity	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		2003-5 $1,000MM 10/15/2008		2003-6 $2,000MM 11/15/2008
Yield	17.24	%	17.24	%	17.24	%	17.24	%	17.24	%	17.24	%
Less: Coupon	5.56	%	5.55	%	5.53	%	5.68	%	5.52	%	5.50	%
Servicing Fee	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%	1.50	%
Net Credit Losses	4.42	%	4.42	%	4.42	%	4.42	%	4.42	%	4.42	%
Excess Spread:
July-06	5.76	%	5.77	%	5.79	%	5.64	%	5.80	%	5.82	%
June-06	7.13	%	7.14	%	7.16	%	7.01	%	7.17	%	7.18	%
May-06	7.33	%	7.34	%	7.36	%	7.21	%	7.37	%	7.38	%
Three Month Average Excess Spread	6.74	%	6.75	%	6.77	%	6.62	%	6.78	%	6.79	%
Delinquency:
30 to 59 Days	1.03	%	1.03	%	1.03	%	1.03	%	1.03	%	1.03	%
60 to 89 Days	0.73	%	0.73	%	0.73	%	0.73	%	0.73	%	0.73	%
90+ Days	1.66	%	1.66	%	1.66	%	1.66	%	1.66	%	1.66	%
Total	3.42	%	3.42	%	3.42	%	3.42	%	3.42	%	3.42	%
Principal Payment Rate	18.36	%	18.36	%	18.36	%	18.36	%	18.36	%	18.36	%

Series Deal Size Expected Maturity	2004-1 $1,500MM 2/15/2007		2004-2 $1,750MM 6/15/2007
Yield	17.24	%	17.24	%
Less: Coupon	5.40	%	5.41	%
Servicing Fee	1.50	%	1.50	%
Net Credit Losses	4.42	%	4.42	%
Excess Spread:
July-06	5.92	%	5.91	%
June-06	7.29	%	7.28	%
May-06	7.49	%	7.47	%
Three Month Average Excess Spread	6.90	%	6.88	%
Delinquency:
30 to 59 Days	1.03	%	1.03	%
60 to 89 Days	0.73	%	0.73	%
90+ Days	1.66	%	1.66	%
Total	3.42	%	3.42	%
Principal Payment Rate	18.36	%	18.36	%