Exhibit 20.1

CAPITAL ONE MASTER TRUST (RECEIVABLES)

MONTHLY PERIOD : May 2003

Beginning of the Month Principal Receivables :	27,356,673,468.68
Beginning of the Month Finance Charge Receivables :	804,646,794.89
Beginning of the Month Discounted Receivables :	0.00
Beginning of the Month Total Receivables :	28,161,320,263.57
Removed Principal Receivables :	0.00
Removed Finance Charge Receivables :	0.00
Removed Total Receivables :	0.00
Additional Principal Receivables :	347,376,837.49
Additional Finance Charge Receivables :	12,384,000.40
Additional Total Receivables :	359,760,837.89
Discounted Receivables Generated this Period	0.00
End of the Month Principal Receivables :	27,420,965,567.45
End of the Month Finance Charge Receivables :	808,035,182.08
End of the Month Discounted Receivables :	0.00
End of the Month Total Receivables :	28,229,000,749.53
Excess Funding Account Balance	0.00
Adjusted Invested Amount of all Master Trust Series	24,547,693,358.49
End of the Month Seller Percentage	10.48	%

CAPITAL ONE MASTER TRUST (DELINQUENCIES AND LOSSES)
MONTHLY PERIOD : May 2003	ACCOUNTS	RECEIVABLES
End of the Month Delinquencies :
30 - 59 Days Delinquent	357,058.00	438,569,307.05
60 - 89 Days Delinquent	213,448.00	289,882,676.47
90 + Days Delinquent	439,886.00	650,214,639.49
Total 30 + Days Delinquent	1,010,392.00	1,378,666,623.01
Delinquencies 30 + Days as a Percent of End of the Month Total Receivables		4.88	%
Defaulted Accounts During the Month	173,905.00	169,101,129.67
Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables		7.32	%

*  See note on last page of the report

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CAPITAL ONE MASTER TRUST (COLLECTIONS)
MONTHLY PERIOD : May 2003	COLLECTIONS	PERCENTAGES
Total Collections and Gross Payment Rate	5,044,446,506.14	17.69	%
Collections of Principal Receivables and Principal Payment Rate	4,564,337,838.85	16.48	%
Prior Month Billed Finance Charge and Fees	347,797,106.00
Amortized AMF Income	27,134,009.72
Interchange Collected	60,574,550.57
Recoveries of Charged Off Accounts	46,237,932.00
Collections of Discounted Receivables	0.00
Collections of Finance Charge Receivables and Annualized Yield	481,743,598.29	20.87	%

CAPITAL ONE MASTER TRUST (AMF COLLECTIONS)
MONTHLY PERIOD : May 2003
Beginning Unamortized AMF Balance		137,031,629.27
+   AMF Slug for Added Accounts	2,720,345.08
+   AMF Collections	25,499,078.72
-   Amortized AMF Income	27,134,009.72
Ending Unamortized AMF Balance		138,117,043.35

*  For calculation purposes Beginning of Month Principal Receivables includes Additional Principal Receivables.

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