8-K 1 at053101.txt ASSOCIATES 8-K SECURITIES AND EXCHANGE COMMISSION Washington,D.C. 20549 _______________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) June 18, 2001 Associates Credit Card Receivables Corp. Associates Credit Card Master Note Trust (Exact name of registrant as specified in its charter) Delaware 333-94867 75-2709748 333-9486701 (State or Other (Commission File (IRS Employer Jurisdiction of Number) Identification Incorporation) Number) 290 E. Carpenter Freeway, Irving, Texas 75062-2729 (Address of Principal Executive Office) (Zip Code) Registrants telephone number, including area code (972) 652-4000 Item 5. Other Events The monthly statements for the month of May 2001 were distributed to Noteholders on June 18, 2001 Item 7 (C). Exhibits. Exhibit No. Description 20.1 Series 2000-1 monthly statement for the month of May 2001. 20.2 Series 2000-2 monthly statement for the month of May 2001. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASSOCIATES CREDIT CARD RECEIVABLES CORP By: /s/ David Keller David Keller Executive Vice President

File:May018k_2000-1 CONFIDENTIAL Servicer's Report ~~CONFIDENTIAL~~Date of Report: June 15, 2001 Interest Period: ~~April~~May 17, 2001 to ~~May~~June 1617, 2001, ~~Date~~Pay ofon ~~Report:~~June ~~May~~18th ~~16, 2001~~ Associates Credit Card Master Note Trust, Series 2000-1 ~~Class~~--------------------------------------------------------------------------------------------------------- A--------------------------------------------------------------------------------------------------------- ~~Class~~Transferor ~~B Class C Total Series Monthly Master Note~~ Trust ~~Activities~~Interest ~~Note~~Totals ~~Note~~---------------------------------------------------------------------------------------------------------- ~~Note~~---------------------------------------------------------------------------------------------------------- ~~Note~~ Beginning Principal Receivables Balance 6,899,818,237.38 Beginning Fin. Chrg. Receivables Balance 363,590,663.31 Beginning Total Receivables Balance 7,263,408,900.69 Beginning Special Funding Accnt Balance 0.00 Beginning Spread Account Balance 0.00 Beginning Reserve Account Balance 0.00 Beginning Period Invested Amount 1,315,980,837.38 Ending Period Invested Amount 1,301,178,389.54 Class A Class B Class C Total Series Monthly Master Note Trust Activities Note Note Note Note ------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- Initial Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 Beginning Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 Note Principal Balance Increase 0.00 0.00 0.00 0.00 Note Principal Balance Decrease 0.00 0.00 0.00 0.00 Reductions in Invested Amount this Period (Other than by Principal Payments) 0.00 0.00 0.00 0.00 Previous Reductions in Invested Amount Reimbursed this Period 0.00 0.00 0.00 0.00 Ending Special Funding Accnt Balance Ending Spread Account Balance Ending Reserve Account Balance Ending Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 Associates Credit Card Master Note Trust, Series 2000-1 Transferor Trust Monthly Master Note Trust Activities Interest Totals Beginning Principal Receivables Balance 6,950,647,604.32 Beginning Fin. Chrg. Receivables Balance 367,123,706.46 Beginning Total Receivables Balance 7,317,771,310.78 Beginning Special Funding Accnt Balance 0.00 Beginning Spread Account Balance 0.00 Beginning Reserve Account Balance 0.00 Initial Invested Amount Beginning Period Invested Amount 1,366,810,204.32 Note Principal Balance Increase Note Principal Balance Decrease Reductions in Invested Amount this Period (Other than by Principal Payments) Previous Reductions in Invested Amount Reimbursed this Period Ending Special Funding Accnt Balance 0.00 Ending Spread Account Balance 0.00 Ending Reserve Account Balance 0.00 Ending Period Invested Amount 1,315,980,837.38

~~Group I Information Series 2000~~-98-~~1 Series 2000~~-98-~~2 Series 2000~~-99-1------------------------------------------------------------------------------ ~~Series 2000~~-99-2---------------------------------------------------------------------------------- Beginning Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 Average Rate 5.18% 5.14% 5.16% 5.35% Allocable Finance Charge Collections 17,952,664.26 16,755,033.38 14,359,730.94 10,769,816.51 Allocable Principal Collections 74,436,090.00 69,470,422.59 59,538,919.07 44,654,265.21 Allocable Default Amount Due 9,528,191.80 8,892,561.53 7,621,279.41 5,715,969.28 Allocable Monthly Interest Due 3,805,799.17 3,524,948.30 3,036,192.87 2,360,581.84 Allocable Monthly Servicing Fees Due 1,470,833.33 1,372,713.33 1,176,470.00 882,354.00 Ending Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 Group I Information Series 2000-~~99-3~~1 ~~Series 2000~~-99-~~4 Series 2000~~-1--------------------------------------------------------------------------------- ~~Series 2000~~-2----------------------------------------------------------------------------------- Beginning Invested Amount ~~264,706,000.00 588,235,000.00~~ 1,000,000,000.00 ~~789,474,000.00~~ Average Rate 54.0437% ~~5.39% 5.26% 0.05~~ Allocable Finance Charge Collections 521,~~384~~504,~~904~~161.1994 ~~11,966,442.45 20,342,962.34 16,060,239.85~~ Allocable Principal Collections ~~22,327,115.74 49,615,765.~~89 84,~~346~~399,~~844~~814.1992 ~~66,589,640.47~~ Allocable Default Amount Due 29,~~857~~878,~~982~~979.4827 ~~6,351,066.18 10,796,817.90 8,523,807.01~~ Allocable Monthly Interest Due ~~1,110,711.84 2,641,113.88 4,379,562.50~~ 3,~~445~~882,~~050~~644.8845 Allocable Monthly Servicing Fees Due ~~441,176.67 980,391.67~~ 1,666,666.67 ~~1,315,790.00~~ Ending Invested Amount ~~264,706,000.00 588,235,000.00~~ 1,000,000,000.00 789,474,000.00 Group I Information Total Beginning Invested Amount 5,583,837,400.00 Average Rate 5.22% Allocable Finance Charge Collections 113,591,793.92 Allocable Principal Collections 470,979,063.15 Allocable Default Amount Due 60,287,675.58 Allocable Monthly Interest Due 24,303,961.28 Allocable Monthly Servicing Fees Due 9,306,395.67 Ending Invested Amount 5,583,837,400.00

---------------------------------------- ---------------------------------------- Payout Event Tests ---------------------------------------- ---------------------------------------- Base Rate Trigger ~~Transferor's Interest Trigger~~ 3 Month Average Portfolio Yield 1413.2190% ~~Required Transferor Interest 482,987,276.62~~ 3 Month Average Base Rate 76.4597% ~~Transferor Interest 1,315,980,837.38~~ Spread 6.7693% Trigger Pass Test ~~Yes Trigger Pass Test~~: If Spread is >0, "Yes" Yes Transferor's Interest Trigger Required Transferor Interest 481,951,105.27 Transferor Interest 1,301,178,389.54 Trigger Pass Test Yes

ASSOCIATES CREDIT CARD MASTER NOTE TRUST Series 2000-1 Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and supplemented, the "Master Indenture"), between Associates Credit Card Master Note Trust (the "Trust) and the Bank of New York, as indenture trustee (the Indenture Trustee), as supplemented by the Series 2000-1 Indenture Supplement, dated as of June 13, 2000 (the "Indenture Supplement"), between the Trust and the Indenture Trustee, Associates National Bank(Delaware), as Servicer (the "Servicer") under the Transfer and Servicing Agreement, dated as of April 1, 2000 (the "Transfer and Servicing Agreement") among Associates Credit Card Receivables Corp., as Transferor, the Servicer and the Trust, is required to prepare certain information each month regarding current distributions to the Series 2000-1 Noteholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date of June 18, 2001, and with respect to the performance of the Trust during the month of May is set forth below. Capitalized terms used in this Monthly Statement have their respective meanings set forth in the Master Indenture and the Indenture Supplement. Current Transaction Period: Revolving Period Any Cash Flow Shortfalls this Period No Any Cash Flow Shortfalls from Previous Period No Payout Event this Period: No Group I Participants: Series 2000-1

MASTER NOTE TRUST RECEIVABLES YIELD AND BASE RATE -- May: (31 posting days)

Yield Defaults Total Portfolio Yield (Current Month) 24.4197% 1211.9647% 1113.4650% Portfolio Yield (Prior Month) 2824.2641% 1112.5196% 1611.7546% Portfolio Yield (Two Months Ago) 2528.7726% 11.3451% 1416.4275% THREE MONTH AVERAGE PORTFOLIO YIELD 1413.2190% --------------------- ---------------------

Servicing Coupon Total Base Rate (Current Month) 2.00% 54.2637% 76.2637% Base Rate (Prior Month) 2.00% 5.2926% 7.2926% Base Rate (Two Months Ago) 2.00% 5.8129% 7.8129% THREE MONTH AVERAGE BASE RATE 76.4597% --------------------- ---------------------

~~FLOATING~~Beginning ~~INVESTOR~~Period ~~PERCENTAGE~~Principal ~~0.143871~~Receivables ~~FIXED INVESTOR PERCENTAGE 0.143871 FINANCE CHARGE ALLOCATIONS Class A Class B Class C AVAILABLE FUNDS Total Trust Finance Charge Collections 141~~6,~~396~~899,~~762~~818,237.4338 ~~Investor~~Beginning ~~Percentage~~Period ~~0.143871 Investor~~ Finance Charge ~~Collections~~Receivables 20363,~~342~~590,~~962~~663.3431 ~~Excess~~Beginning ~~Finance~~Period ~~Charge~~Discounted ~~Collections~~Receivables ~~allocated to Series~~ 0.00 ~~Available~~Beginning ~~Finance~~Period ~~Charge Collections 20,342,962.34~~ Total ~~AVAILABLE~~Receivables ~~FUNDS Total Trust Finance Charge Collections Investor Percentage Investor Finance Charge Collections 20~~7,~~342~~263,~~962~~408,900.3469 ~~Excess~~Removed ~~Finance~~Principal ~~Charge~~Receivables ~~Collections allocated to Series~~ 0.00 ~~Available~~Removed Finance Charge ~~Collections~~Receivables ~~20,342,962.34 CASH FLOW ALLOCATIONS Class A Distributions (1)Class A Monthly Interest 3,260,083.33 (2)Class A Monthly Interest Previously Due~~ 0.00 ~~(3)Class~~Removed ATotal ~~Monthly~~Receivables ~~Additional Interest~~ 0.00 ~~(4)Class~~Discounted AReceivables ~~Monthly~~Generated ~~Additional~~this ~~Interest~~Period ~~Previously Due~~ 0.00 ~~Total Class A Monthly Interest 3,260,083.33 CASH FLOW ALLOCATIONS Total Class A Distributions (1)Class A Monthly Interest (2)Class A Monthly Interest Previously Due (3)Class A Monthly~~ Additional ~~Interest~~Principal ~~(4)Class~~Receivables ~~A Monthly Additional Interest Previously Due Total Class A Monthly Interest 3,260,083.33 Class B Distributions (5)Class B Monthly Interest 458,046.88 (6)Class B Monthly Interest Previously Due~~ 0.00 ~~(7)Class~~Additional BFinance ~~Monthly~~Charge ~~Additional~~Receivables ~~Interest~~ 0.00 ~~(8)Class B Monthly~~ Additional ~~Interest~~Total ~~Previously~~Receivables ~~Due~~ 0.00 Total ~~Class~~Principal BCollections ~~Monthly~~this ~~Interest~~Period ~~458~~616,~~046~~842,473.8837 ~~(9)~~Total ~~Monthly~~Defaulted Servicing Fee for Series (10)Total Servicing Fee for Series Previously Due (11)Class A Prepayable Increase Amount Interest 0.00 (12)Class B Prepayable Increase Amount Interest 0.00 (13)Investor Default Amount (14)Investor Charge-Offs 0.00 0.00 0.00 (15)Reallocated Principal ~~Collections~~Receivables ~~Previously~~this ~~Due~~Period 068,163,161.0030 ~~0.00 0.00~~ Total ~~Class~~Receivables BAdjustments ~~Distributions~~this ~~(5)Class~~Period ~~B Monthly Interest (6)Class B Monthly Interest Previously Due (7)Class B Monthly Additional Interest (8)Class B Monthly Additional Interest Previously Due Total Class B Monthly Interest 458~~32,~~046~~203,407.8821 ~~(9)~~Total ~~Monthly~~Finance ~~Servicing~~Charge ~~Fee~~Collections ~~for~~this ~~Series~~Period 1148,~~666~~374,~~666~~808.6775 ~~(10)~~Total ~~Servicing~~Discounted ~~Fee~~Receivables ~~for~~this ~~Series~~Period ~~Previously Due~~ 0.00 ~~(11)Class~~Ending APeriod ~~Prepayable~~Principal ~~Increase~~Receivables ~~Amount Interest 0~~6,885,015,789.0054 ~~(12)Class~~Ending BPeriod ~~Prepayable~~Finance ~~Increase~~Charge ~~Amount~~Receivables ~~Interest 0.00 (13)Investor Default Amount 10~~350,~~796~~340,~~817~~011.9025 ~~(14)Investor~~Ending ~~Charge-Offs~~Period ~~0.00~~Discounted ~~(15)Reallocated~~Receivables ~~Principal Collections Previously Due~~ 0.00 ~~Class~~Ending CPeriod ~~Distributions~~Total ~~(16)Class~~Receivables ~~C Monthly Interest 661~~7,~~432~~235,355,800.2979 ~~(17)Class~~DELINQUENCY CINFORMATION ~~Monthly Interest Previously Due~~ 0.00 ~~(18)Class~~End Cof ~~Monthly~~the ~~Additional~~Month ~~Interest~~Principal ~~0.00~~Delinquencies: ~~(19)Class C Monthly Additional Interest Previously Due~~ 0.00 ~~(20)Class~~31-60 CDays ~~Prepayable~~Delinquent ~~Increase Amount Interest 0.00 Total Class C Interest 661~~153,~~432.29 (21)Funds Required per Note Agreement under Sections 2.07~~144, 2746.0845 &61-90 ~~2.09~~Days ~~(22)Funds~~Delinquent Required per Note Agreement under Sections 2.04 (e) & 7.01 Class C Distributions Total (16)Class C Monthly Interest (17)Class C Monthly Interest Previously Due (18)Class C Monthly Additional Interest (19)Class C Monthly Additional Interest Previously Due (20)Class C Prepayable Increase Amount Interest Total Class C Interest 66196,~~432.29 (21)Funds Required per Note Agreement under Sections 2.07~~192, 2785.0894 &91+ ~~2.09~~Days ~~0.00~~Delinquent (22)Funds Required per Note Agreement under Sections 2.04 (e) & 7.01 0.00 Spread Account Distributions Total (23)Class C Spread Account Required Deposit 0.00 TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER SERIES' ALLOCATIONS 3190,~~499~~512,~~915~~976.2723 ~~EXCESS~~Total ~~SPREAD~~31+ ~~ALLOCATED~~Days TODelinquent ~~OTHER SERIES' 0.00 EXCESS SPREAD RELEASED TO TRANSFEROR 3~~439,~~499~~850,~~915~~508.2762

ASSOCIATES CREDIT CARD MASTER NOTE TRUST CASH FLOW ALLOCATIONS SERIES 2000-1 FLOATING INVESTOR PERCENTAGE 0.144931 FIXED INVESTOR PERCENTAGE 0.144931

~~PRINCIPAL~~FINANCE CHARGE ALLOCATIONS ~~Class~~Total A------------------------------------------------------------------------------------------------------------------------------- ~~Class~~------------------------------------------------------------------------------------------------------------------------------- ~~B Class C~~ AVAILABLE FUNDS Total Trust ~~Principal~~Finance Charge Collections ~~586~~148,~~265~~374,~~190~~808.4975 -------------------- -------------------- Investor Percentage 0.~~143871~~144931 ~~Investor~~-------------------- ~~Principal~~-------------------- ~~Collections~~Investor ~~84,346,844.19~~Finance ~~Shared~~Charge ~~Principal~~ Collections ~~from other Series' 501~~21,~~918~~504,~~346~~161.3094 ~~Available Principal Collections 586~~21,~~265~~504,~~190~~161.4994 ~~Controlled~~Excess ~~Amoritization~~Finance ~~Amount~~Charge ~~0.00~~Collections ~~0.00~~allocated ~~0.00 Partial Amoritization Amount 0.00 0.00 0.00 Deficiency Controlled Amoritization Amount 0.00 0.00 0.00 Monthly Principal Amount 0.00 0.00 0.00 Principal Shortfall Reallocated Principal~~ to ~~other~~ Series' 0.00 0.00 ~~PRINCIPAL~~Available ~~ALLOCATIONS~~Finance ~~Total~~Charge ~~AVAILABLE FUNDS Total Trust Principal~~ Collections ~~Investor Percentage Investor Principal Collections Shared Principal Collections from other Series' Available Principal Collections Controlled Amoritization Amount 0~~21,504,161.0094 ~~Partial Amoritization Amount 0~~21,504,161.~~00 Deficiency Controlled Amoritization Amount 0.00 Monthly Principal Amount 0.00 Principal Shortfall Reallocated Principal to other Series' 0.00~~94

CASH FLOW ALLOCATIONS

~~ASSOCIATES~~Class ~~CREDIT~~A ~~CARD~~Distributions ~~MASTER NOTE TRUST Cash Reconciliation May-01 Group~~ (1)Class ~~Coupon~~A ~~Rate~~Monthly ~~Balance~~ Interest ~~Payments Series 2000-98-1~~2,877,866.67 (2)Class A ~~5.04%~~Monthly $Interest ~~662,500,000.00~~Previously $Due ~~2,784,420~~0.2400 ~~Series 2000-98-1,~~ (3)Class BA ~~5.27%~~Monthly $Additional ~~87,500,000~~Interest 0.00 $(4)Class ~~383,998.72~~A ~~Series~~Monthly ~~2000-98-1,~~Additional ~~Class~~Interest CPreviously ~~5.77%~~Due ~~$ 132,500,000~~0.00 $Total ~~637,380.21 Series 2000-98-2,~~ Class A ~~5.00%~~Monthly $Interest ~~617,647,000.00 $~~ 2,~~572~~877,~~189~~866.2267 ~~Series 2000-98-2,~~ Class B Distributions (5~~.22%~~)Class $B ~~82,353,000.00~~Monthly $Interest ~~358~~407,~~056~~722.8922 ~~Series~~(6)Class ~~2000-98-2,~~B ~~Class~~Monthly CInterest ~~5.77%~~Previously $Due ~~123,628,000~~0.00 $(7)Class ~~594,702.19~~B ~~Series~~Monthly ~~2000-99-1,~~Additional ~~Class~~Interest ~~A 5~~0.~~03% $ 529,412,000.~~00 $(8)Class ~~2,219,199.51~~B ~~Series~~Monthly ~~2000-99-1,~~Additional ~~Class~~Interest BPreviously ~~5.23%~~Due ~~$ 70,588,000~~0.00 $Total ~~307,656.82 Series 2000-99-1,~~ Class CB ~~5.77%~~Monthly $Interest ~~105~~407,~~882,000~~722.0022 $(9)Total ~~509,336.54~~Monthly ~~Series~~Servicing ~~2000-99-2,~~Fee ~~Class~~for ASeries ~~5.24% $ 397,058,400.00 $~~ 1,~~734~~666,~~218~~666.7467 ~~Series~~(10)Total ~~2000-99-2,~~Servicing ~~Class~~Fee Bfor ~~5.54% $ 52,941,600.00 $ 244,356.37~~ Series ~~2000-99-2,~~Previously ~~Class~~Due ~~C 5~~0.~~77% $ 79,412,400.~~00 ~~$ 382,006.73 Series 2000-99-3,~~ (11)Class A ~~4.91%~~Prepayable $Increase ~~198,500,000.00~~Amount $Interest ~~811,388~~0.1100 ~~Series 2000-99-3,~~ (12)Class B ~~4.91%~~Prepayable $Increase ~~26,500,000.00~~Amount $Interest ~~108,321~~0.3300 ~~Series~~(13)Investor ~~2000-99-3,~~Default ~~Class~~Amount ~~C 5.77% $ 39~~9,~~706~~878,~~000~~979.0027 $(14)Investor ~~191,002.40 Series 2000~~Charge-~~99-4,~~Offs ~~Class A 5~~0.~~29% $ 441,176,000.~~00 $(15)Reallocated ~~1,944,850.87~~Principal ~~Series~~Collections ~~2000-99-4,~~Previously ~~Class~~Due ~~B 5~~0.~~55% $ 58,824,000.~~00 $Class ~~271,815.90~~C ~~Series~~Distributions ~~2000-99-4,~~ (16)Class C ~~5.77%~~Monthly $Interest 88597,~~235,000~~055.0056 $(21)Funds ~~424,447.11~~Required ~~Series~~per ~~2000-1,~~Note ~~Class~~Agreement Aunder ~~5.15%~~Sections ~~$ 760,000,000~~2.~~00 $ 3~~07,~~260,083.33~~ ~~Series 2000-1, Class B 5~~2.~~36%~~08 $& ~~102,500,000~~2.0009 ~~$ 458,046~~0.~~88 Series 2000-1, Class C 5.77% $ 137,500,000.~~00 $(22)Funds ~~661,432.29~~Required ~~Series~~per ~~2000-2,~~Note ~~Class~~Agreement Aunder ~~5.12%~~Sections ~~$ 600,000,000.00 $~~ 2~~,561,250~~.0004 ~~Series~~(e) ~~2000-2,~~& ~~Class B 5~~7.~~36%~~01 ~~$ 80,921,000~~0.00 $Spread ~~361,615.72~~Account ~~Series~~Distributions ~~2000-2,~~ (23)Class C ~~5.77%~~Spread $Account ~~108,553,000.00~~Required $Deposit ~~522,185~~0.1600 ~~Weighted~~TOTAL ~~Average~~EXCESS ~~Coupon~~SPREAD ofELIGIBLE ~~all~~FOR ~~Notes~~OTHER ~~5.22%~~SERIES' $ALLOCATIONS 56,~~583~~075,~~837,400~~871.0056 $EXCESS ~~24,303,961.28~~SPREAD ~~Weighted~~ALLOCATED ~~Average~~TO ~~Coupon~~OTHER ofSERIES' 50.~~13% $ 4,768,421,000.~~00 ~~Class~~EXCESS ASPREAD ~~and~~RELEASED ~~Class~~TO BTRANSFEROR ~~Notes Current Transaction Period: Revolving Period~~6,075,871.56

~~CASH~~PRINCIPAL ~~FLOW~~ALLOCATIONS ~~REQUIREMENTS Series 2000-98-1~~ Class A Class B ~~Class~~------------------------------------------------------------------------------------------------------------------------------- C------------------------------------------------------------------------------------------------------------------------------- ~~Total~~AVAILABLE ~~Principal~~FUNDS ~~Distribution~~Total ~~Due~~Trust ~~this~~Principal ~~Period~~Collections $616,842,473.37 - $ - - $ - ----------------- $--------------------- ~~Interest~~Investor ~~Distribution~~Percentage ~~Due~~0.144931 ~~this~~--------------------- ~~Period~~--------------------- $Investor 2Principal Collections 89,~~784~~399,~~420~~814.2492 $Shared ~~383,998.72~~Principal $Collections ~~637,380.21~~from $other 3Series' 527,~~805~~442,~~799~~658.1745 ~~Unpaid~~Available Principal ~~Shortfalls~~Collections ~~paid~~616,842,473.37 ~~this~~Controlled ~~Period~~Amoritization $Amount -0.00 $0.00 -Partial -Amoritization $Amount -0.00 -0.00 ~~$--~~Deficiency ~~Unpaid~~Controlled ~~Interest~~Amoritization ~~Shortfalls~~Amount ~~paid~~0.00 ~~this~~0.00 ~~Period~~Monthly $Principal -Amount $0.00 -0.00 -Principal $Shortfall -Reallocated -Principal ~~$--~~to ~~Prepayable~~other ~~Interest~~Series' $0.00 -0.00 $Class -C -Total $ - ----------------------------------------- $------------------------------------------ ~~Servicing~~Controlled ~~Fee~~Amoritization $Amount ~~1,470,833~~0.3300 ~~$ 1,470,833~~0.3300 ~~Total~~Partial ~~Required~~Amoritization ~~Distribution~~Amount $0.00 ~~2,784,420~~0.2400 $Deficiency ~~383,998.72~~Controlled $Amoritization ~~2,108,213~~Amount 0.5400 ~~$ 5,276,632~~0.5000 ~~Total~~Monthly ~~Required~~Principal ~~Distribution~~Amount to0.00 ~~Class~~0.00 APrincipal &Shortfall ~~Class~~Reallocated BPrincipal ~~investors~~to $other ~~3,168,418~~Series' 0.9600

ASSOCIATES CREDIT CARD MASTER NOTE TRUST Cash Reconciliation June 18, 2001

~~Series~~Group ~~2000-98-2~~1 ~~Class~~Coupon ARate ~~Class~~Balance BInterest ~~Class~~Payments ~~C Total Principal Distribution Required Amount $~~ - $ - - $ - - $-- ~~Interest Distribution Required Amount $ 2,572,189.22 $ 358,056.89 $ 594,702.19 $ 3,524,948.30 Unpaid Principal Shortfalls paid this Period $~~ - $ - - $ - - $-- ~~Unpaid Interest Shortfalls paid this Period $~~ - $ - - $ - - $-- ~~Prepayable Interest $~~ - $ -------------------- -------------------- $ --------------------- --------------------- $-------------------- ~~Servicing~~Series ~~Fee $~~ 2000-1,~~372,713~~ Class A 4.3326% $ 1760,~~372~~000,~~713~~000.3300 ~~Total Required Distribution~~ $ 2,~~572~~877,~~189~~866.2267 $Series ~~358~~2000-1,~~056~~ Class B 4.8948% $ 1102,~~967~~500,~~415~~000.5200 $ 4407,~~897,661~~722.6322 ~~Total~~Series ~~Required~~2000-1, ~~Distribution to~~ Class AC &4.89% ~~Class~~$ B137,500,000.00 ~~investors~~ $ 2597,~~930,246~~055.1156

Series 2000-~~99-~~1 -------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------- Class A Class B Class C Total --------------------- --------------------- -------------------- --------------------- --------------------- --------------------- -------------------- --------------------- Principal Distribution Required ~~Amount~~Amt $ - $ - - $ - - $ -- Interest Distribution Required ~~Amount~~Amt $ 2,~~219~~877,~~199~~866.5167 $ ~~307~~407,~~656~~722.8222 $ ~~509~~597,~~336~~055.5456 $ 3,~~036~~882,~~192~~644.8745 Unpaid Principal Shortfalls paid ~~this Period~~ $ - $ - - $ - - $ -- Unpaid Interest Shortfalls paid ~~this Period~~ $ - $ - - $ - - $ -- Prepayable Interest $ - $ - - $ - - $ -- Servicing Fee $ 1,~~176~~666,~~470~~666.0067 $ 1,~~176~~666,~~470~~666.0067 --------------------- --------------------- -------------------- --------------------- --------------------- --------------------- -------------------- --------------------- Total Required Distribution $ 2,~~219~~877,~~199~~866.5167 $ ~~307~~407,~~656~~722.8222 $ 12,~~685~~263,~~806~~722.5423 $ 45,~~212~~549,~~662~~311.8712 ~~Total~~===================== ~~Required~~===================== ~~Distribution~~==================== to===================== ~~Class~~===================== A===================== &==================== ~~Class B investors $ 2,526,856.33~~=====================

~~Series 2000~~File:May018k_2000-~~99-~~2 ~~Class~~CONFIDENTIAL AServicer's ~~Class~~Report BInterest ~~Class~~Period: CMay ~~Total~~17, ~~Principal~~2001 ~~Distribution~~to ~~Required~~June ~~Amount~~17, $2001, -Pay $on -June -18th $Date of Report: June 15, 2001 Associates Credit Card Master Note Trust, Series 2000-2 --------------------------------------------------------------------------------------------------------- $--------------------------------------------------------------------------------------------------------- Transferor Trust Interest ~~Distribution~~Totals ~~Required~~--------------------------------------------------------------------------------------------------------- ~~Amount~~--------------------------------------------------------------------------------------------------------- $Beginning 1Principal Receivables Balance 6,~~734~~899,~~218~~818,237.7438 $Beginning ~~244,356~~Fin.37 $Chrg. ~~382~~Receivables Balance 363,~~006~~590,663.7331 $Beginning 2Total Receivables Balance 7,~~360~~263,~~581~~408,900.8469 ~~Unpaid~~Beginning ~~Principal~~Special ~~Shortfalls~~Funding ~~paid~~Accnt ~~this~~Balance ~~Period~~0.00 $Beginning -Spread $Account -Balance -0.00 $Beginning -Reserve -Account ~~$--~~Balance ~~Unpaid~~0.00 ~~Interest~~Beginning ~~Shortfalls~~Period ~~paid~~Invested ~~this~~Amount ~~Period~~1,315,980,837.38 $Ending -Special $Funding -Accnt -Balance $1,301,178,389.54 -Class -A ~~$--~~Class ~~Prepayable~~B ~~Interest~~Class $C -Total $Series -Monthly -Master $Note -Trust Activities Note Note Note Note ------------------------------------------------------------------------------------------------------------------------------- $------------------------------------------------------------------------------------------------------------------------------- ~~Servicing~~Initial ~~Fee~~Invested $Amount ~~882~~600,~~354~~000,000.00 $80,921,000.00 ~~882~~108,~~354~~553,000.00 ~~Total~~789,474,000.00 ~~Required~~Beginning ~~Distribution~~Period $Invested 1Amount 600,~~734~~000,~~218~~000.7400 ~~$ 244~~80,~~356~~921,000.3700 ~~$ 1~~108,~~264~~553,~~360~~000.7300 ~~$ 3~~789,~~242~~474,~~935~~000.8400 ~~Total~~Note ~~Required~~Principal ~~Distribution~~Balance toIncrease ~~Class~~0.00 A0.00 &0.00 ~~Class~~0.00 BNote ~~investors~~Principal $Balance 1Decrease 0.00 0.00 0.00 0.00 Reductions in Invested Amount this Period (Other than by Principal Pmts) 0.00 0.00 0.00 0.00 Previous Reductions in Invested Amount Reimbursed this Period 0.00 0.00 0.00 0.00 Ending Special Funding Accnt Balance Ending Spread Account Balance Ending Reserve Account Balance Ending Period Invested Amount 600,~~978~~000,~~575~~000.1100 80,921,000.00 108,553,000.00 789,474,000.00

~~Series 2000~~-99-~~3 Class A Class B Class C Total Principal Distribution Required Amount $~~ - $ - - $ - - $-- ~~Interest Distribution Required Amount $ 811,388.11 $ 108,321.33 $ 191,002.40 $ 1,110,711.84 Unpaid Principal Shortfalls paid this Period $~~ - $ - - $ - ---------------------------------------------------------------------- $----------------------------------------------------------------------------------- ~~Unpaid~~Group ~~Interest~~I ~~Shortfalls~~Information ~~paid~~Series ~~this Period $~~ 2000-2 $ - - $ - - $-- ~~Prepayable Interest $~~ - $ - - $ - ------------------------------------------------------------------------- $----------------------------------------------------------------------------------- ~~Servicing~~Beginning ~~Fee~~Invested $Amount ~~441~~789,~~176~~474,000.6700 $Average ~~441,176~~Rate 4.6735% ~~Total~~Allocable ~~Required~~Finance ~~Distribution~~Charge $Collections ~~811~~16,~~388~~976,976.1175 $Allocable ~~108,321.33~~Principal $Collections ~~632~~70,~~179~~578,829.0748 $Allocable 1Default Amount Due 7,~~551~~799,~~888~~197.5128 ~~Total~~Allocable ~~Required~~Monthly ~~Distribution~~Interest toDue ~~Class~~3,051,913.68 AAllocable &Monthly ~~Class~~Servicing BFees ~~investors~~Due $1,315,790.00 ~~919~~Ending Invested Amount 789,~~709~~474,000.4400

~~Series 2000~~-99-~~4 Class A Class B Class C Total Principal Distribution Required Amount $~~ - $ - - $ - - $-- ~~Interest Distribution Required Amount $ 1,944,850.87 $ 271,815.90 $ 424,447.11 $ 2,641,113.88 Unpaid Principal Shortfalls paid this Period $~~ - $ - - $ - ---------------------------- $----------------------------------------- ~~Unpaid~~Payout ~~Interest~~Event ~~Shortfalls~~Tests ~~paid this Period $~~ - $ - - $ - ------------------------------------- $----------------------------------------- ~~Prepayable~~Base ~~Interest~~Rate $Trigger -3 $Month -Average -Portfolio $Yield -13.90% -3 ~~$--~~Month ~~Servicing~~Average ~~Fee~~Base $Rate ~~980,391~~6.6795% $Spread ~~980,391~~6.6795% ~~Total~~Trigger ~~Required~~Pass ~~Distribution~~Test: $If ~~1,944,850.87~~Spread $is ~~271~~>0,~~815.90~~ $"Yes" ~~1,404,838.78~~Yes $Transferor's ~~3,621,505.55~~Interest ~~Total~~Trigger Required ~~Distribution~~Transferor toInterest ~~Class~~481,951,105.27 ATransferor &Interest ~~Class~~1,301,178,389.54 BTrigger ~~investors~~Pass $Test ~~2,216,666.77~~Yes

ASSOCIATES CREDIT CARD MASTER NOTE TRUST Series 2000-2 Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and supplemented, the "Master Indenture"), between Associates Credit Card Master Note Trust (the "Trust) and the Bank of New York, as indenture trustee (the "Indenture Trustee"), as supplemented by the Series 2000-2 Indenture Supplement, dated as of September 15, 2000 (the "Indenture Supplement"), between the Trust and the Indenture Trustee, Associates National Bank (Delaware), as Servicer (the "Servicer") under the Transfer and Servicing Agreement, dated as of April 1, 2000 (the "Transfer and Servicing Agreement") among Associates Credit Card Receivables Corp., as Transferor, the Servicer and the Trust, is required to prepare certain information each month regarding current distributions to the Series 2000-2 Noteholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date of June 18, 2001, and with respect to the performance of the Trust during the month of May is set forth below. Capitalized terms used in this Monthly Statement have their respective meanings set forth in the Master Indenture and the Indenture Supplement.

~~Series~~Current ~~2000-1~~Transaction ~~Class~~Period: ARevolving ~~Class~~Period BAny ~~Class~~Cash CFlow ~~Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 3,260,083.33 $ 458,046.88 $ 661,432.29 $ 4,379,562.50 Unpaid Principal~~ Shortfalls ~~paid~~ this Period $No -Any $Cash -Flow $Shortfalls -from $Previous -Period ~~Unpaid~~No ~~Interest~~Payout ~~Shortfalls~~Event ~~paid~~ this Period: $No -Group $I -Participants: $Series 2000- ~~$ - Prepayable Interest $ - $ - $ - $ - Servicing Fee $ 1,666,666.67 $ 1,666,666.67 Total Required Distribution $ 3,260,083.33 $ 458,046.88 $~~ 2~~,328,098.96 $ 6,046,229.17 Total Required Distribution to Class A & Class B investors $ 3,718,130.21~~

MASTER NOTE TRUST RECEIVABLES YIELD AND BASE RATE --

~~Series~~Yield ~~2000-2~~Defaults ~~-------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Class A Class B Class C~~ Total ~~--------------------------------------------------------------------------------~~Portfolio ~~--------------------------------------------------------------------------------~~Yield ~~Principal~~(Current ~~Distribution~~Month) ~~Required~~24.97% ~~Amount~~11.47% $13.50% -Portfolio $Yield -(Prior -Month) $24.41% -12.96% -11.46% ~~$--~~Portfolio ~~Interest~~Yield ~~Distribution~~(Two ~~Required~~Months ~~Amount~~Ago) ~~$ 2,561,250~~28.0026% ~~$ 361,615~~11.7251% ~~$ 522,185.~~16 ~~$3,445,050~~.8875% ~~Unpaid~~THREE ~~Principal~~MONTH ~~Shortfalls~~AVERAGE ~~paid~~PORTFOLIO ~~this~~YIELD ~~Period $ - $ - $ - $ - Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ - Prepayable Interest $ - $ - $ - $ - Servicing Fee $ 1,315,790~~13.0090% ~~$ 1,315,790.00~~ ------------------ --~~-------------------~~ ------------------- ------------------ ------------------ --------------------- ------------------- ------------------ Total Required Distribution $ 2,561,250.00 $ 361,615.72 $ 1,837,975.16 $4,760,840.88 ================== ===================== =================== ================== ================== ===================== =================== ================== Total Required Distribution to Class A & Class B investors $ 2,922,865.72

~~Servicer's~~Servicing ~~Report~~Coupon ~~CONFIDENTIAL Interest Period: April 17, 2001 to May 16, 2001 Date of Report: May 16, 2001 Associates Credit Card Master Note Trust, Series 2000-2 Class A Class B Class C~~ Total ~~Series~~Base ~~Monthly~~Rate ~~Master~~(Current ~~Note~~Month) ~~Trust Activities Note Note Note Note Beginning Principal Receivables Balance Beginning Fin~~2. Chrg. Receivables Balance Beginning Total Receivables Balance Beginning Special Funding Accnt Balance Beginning Spread Account Balance Beginning Reserve Account Balance Initial Invested Amount 600,000,000.00% ~~80,921,000~~4.0035% ~~108,553,000~~6.0035% ~~789,474,000.00~~Base ~~Beginning~~Rate ~~Period~~(Prior ~~Invested~~Month) ~~Amount 600,000,000~~2.00% ~~80,921,000~~5.0024% ~~108,553,000~~7.0024% ~~789,474,000.00~~Base ~~Note~~Rate ~~Principal Balance Increase 0.00 0.00 0.00 0.00 Note Principal Balance Decrease 0.00 0.00 0.00 0.00 Reductions in Invested Amount this Period~~ (~~Other~~Two ~~than~~Months ~~by Principal Payments~~Ago) 02.00% 05.0027% 07.0027% ~~0.00~~THREE ~~Previous~~MONTH ~~Reductions~~AVERAGE inBASE ~~Invested~~RATE ~~Amount Reimbursed this Period 0~~6.0095% 0.00 0.00 0.00 Ending Special Funding Accnt Balance Ending Spread Account Balance Ending Reserve Account Balance Ending Period Invested Amount 600,000,000.00 80,921,000.00 108,553,000.00 789,474,000.00 Associates Credit Card Master Note Trust, Series 2000-2------------------- Transferor Trust Monthly Master Note Trust Activities Interest Totals Beginning Principal Receivables Balance 6,950,647,604.32 Beginning Fin. Chrg. Receivables Balance 367,123,706.46 Beginning Total Receivables Balance 7,317,771,310.78 Beginning Special Funding Accnt Balance 0.00 Beginning Spread Account Balance 0.00 Beginning Reserve Account Balance 0.00 Initial Invested Amount Beginning Period Invested Amount 1,366,810,204.32 Note Principal Balance Increase Note Principal Balance Decrease Reductions in Invested Amount this Period (Other than by Principal Payments) Previous Reductions in Invested Amount Reimbursed this Period Ending Special Funding Accnt Balance 0.00 Ending Spread Account Balance 0.00 Ending Reserve Account Balance 0.00 Ending Period Invested Amount 1,315,980,837.38--------------------

ASSOCIATES CREDIT CARD MASTER NOTE TRUST Series 2000-2

~~Group I Information Series 2000-98-1 Series 2000-98-2 Series 2000-99-1 Series 2000-99-2~~ Beginning ~~Invested~~Period ~~Amount~~Principal ~~882,500,000.00~~Receivables ~~823~~6,~~628~~899,~~000.00 705~~818,~~882,000~~237.0038 ~~529,412,400.00~~Beginning ~~Average~~Period ~~Rate 5.18% 5.14% 5.16% 5.35% Allocable~~ Finance Charge ~~Collections~~Receivables 17363,~~952~~590,~~664~~663.2631 ~~16,755,033.38~~Beginning ~~14,359,730.94~~Period ~~10,769,816.51~~Discounted ~~Allocable~~Receivables ~~Principal Collections 74,436,090~~0.00 ~~69,470,422.59~~Beginning ~~59,538,919.07~~Period ~~44,654,265.21~~Total ~~Allocable~~Receivables ~~Default Amount Due 9,528,191.80 8,892,561.53~~ 7,~~621~~263,~~279.41 5~~408,~~715,969~~900.2869 ~~Allocable~~Removed ~~Monthly~~Principal ~~Interest~~Receivables ~~Due 3,805,799~~0.1700 ~~3,524,948.30~~Removed ~~3,036,192.87~~Finance ~~2,360,581.84~~Charge ~~Allocable~~Receivables ~~Monthly~~0.00 ~~Servicing~~Removed ~~Fees~~Total ~~Due~~Receivables ~~1,470,833~~0.~~33 1,372,713.33 1,176,470.~~00 ~~882,354.00~~Discounted ~~Ending~~Receivables ~~Invested~~Generated ~~Amount~~this ~~882,500,000.00~~Period ~~823,628,000~~0.00 ~~705,882,000.00~~Additional ~~529,412,400~~Principal Receivables 0.00 ~~Group~~Additional IFinance ~~Information~~Charge ~~Series~~Receivables ~~2000-99-3 Series 2000-99-4 Series 2000-1 Series 2000-2 Beginning Invested Amount 264,706,000~~0.00 ~~588,235,000.00~~Additional ~~1,000,000,000.00~~Total ~~789,474,000~~Receivables 0.00 ~~Average~~Total ~~Rate~~Principal ~~5.04% 5.39% 5.26% 5.24% Allocable Finance Charge~~ Collections ~~5,384,904.19~~this ~~11,966,442.45~~Period 20616,~~342~~842,~~962~~473.3437 ~~16,060,239.85~~Total ~~Allocable~~Defaulted Principal ~~Collections~~Receivables ~~22,327,115.74~~this ~~49,615,765.89~~Period 8468,~~346~~163,~~844~~161.1930 ~~66,589,640.47~~Total ~~Allocable~~Receivables ~~Default~~Adjustments ~~Amount~~this ~~Due~~Period 232,~~857~~203,~~982~~407.4821 ~~6,351,066.18~~Total ~~10,796,817.90~~Finance ~~8,523,807.01~~Charge ~~Allocable~~Collections ~~Monthly~~this ~~Interest~~Period ~~Due 1~~148,~~110~~374,~~711~~808.8475 ~~2,641,113.88~~Total ~~4,379,562.50~~Discounted ~~3,445,050.88~~Receivables ~~Allocable~~this ~~Monthly~~Period ~~Servicing~~0.00 ~~Fees~~Ending ~~Due~~Period ~~441,176.67~~Principal ~~980,391.67~~Receivables 16,~~666~~885,~~666.67 1~~015,~~315,790~~789.0054 Ending ~~Invested~~Period ~~Amount~~Finance ~~264,706,000.00~~Charge ~~588,235,000.00~~Receivables 1350,~~000~~340,~~000,000~~011.0025 ~~789,474,000.00~~Ending ~~Group~~Period IDiscounted ~~Information~~Receivables ~~Total~~0.00 ~~Beginning~~Ending ~~Invested~~Period ~~Amount~~Total 5Receivables 7,~~583~~235,~~837~~355,~~400~~800.0079 ~~Average~~DELINQUENCY ~~Rate~~INFORMATION ~~5.22%~~End ~~Allocable~~of ~~Finance~~the ~~Charge~~Month ~~Collections~~Principal ~~113,591,793.92~~Delinquencies: ~~Allocable~~'31-60 ~~Principal~~Days ~~Collections~~Delinquent ~~470~~153,~~979~~144,~~063~~746.1545 ~~Allocable~~61-90 ~~Default~~Days ~~Amount~~Delinquent ~~Due 60~~96,~~287~~192,~~675~~785.5894 ~~Allocable~~91+ ~~Monthly~~Days ~~Interest~~Delinquent ~~Due 24~~190,~~303~~512,~~961~~976.2823 ~~Allocable~~--------------------- ~~Monthly~~--------------------- ~~Servicing~~Total ~~Fees~~31+ ~~Due~~Days 9Delinquent 439,~~306~~850,~~395~~508.6762 ~~Ending~~--------------------- ~~Invested Amount 5,583,837,400.00~~---------------------

ASSOCIATES CREDIT CARD MASTER NOTE TRUST Series 2000-2 Cash Flow Allocations FLOATING INVESTOR PERCENTAGE 0.114420 FIXED INVESTOR PERCENTAGE 0.114420

~~Payout~~FINANCE ~~Event~~CHARGE ~~Tests~~ALLOCATIONS ~~Base~~Total ~~Rate~~--------------------------------------------------------------- ~~Trigger~~--------------------- ~~Transferor's~~--------------------------------------------------------------- --------------------- AVAILABLE FUNDS Total Trust Finance Charge Collections 148,374,808.75 --------------------- --------------------- Investor Percentage 0.114420 --------------------- --------------------- Investor Finance Charge Collections 16,976,976.75 Excess Finance Charge Collections allocated to Series 0.00 Available Finance Charge Collections 16,976,976.75 CASH FLOW ALLOCATIONS Class A Distributions (1)Class A Monthly Interest ~~Trigger~~2,258,666.67 (2)Class A Monthly Interest Previously Due 0.00 (3)Class ~~Month~~A ~~Average~~Monthly ~~Portfolio~~Additional ~~Yield~~Interest 140.~~21%~~00 ~~Required~~(4)Class ~~Transferor~~A Monthly Additional Interest ~~482~~Previously Due 0.00 Total Class A Monthly Interest 2,~~987~~258,~~276~~666.6267 3Class ~~Month~~B ~~Average~~Distributions ~~Base~~(5)Class ~~Rate~~B Monthly Interest 321,885.76 (6)Class B Monthly Interest Previously Due 0.00 (7)Class B Monthly Additional Interest 0.~~43%~~00 ~~Transferor~~(8)Class B Monthly Additional Interest Previously Due 0.00 Total Class B Monthly Interest 321,885.76 (9)Total Monthly Servicing Fee for Series 1,315,~~980~~790.00 (10)Total Servicing Fee for Series Previously Due 0.00 (11)Class A Prepayable Increase Amount Interest 0.00 (12)Class B Prepayable Increase Amount Interest 0.00 (13)Investor Default Amount 7,~~837~~799,197.3828 ~~Spread~~(14)Investor 6Charge-Offs 0.~~78%~~00 ~~Trigger~~(15)Reallocated ~~Pass~~Principal ~~Test~~Collections ~~Yes~~Previously ~~Trigger~~Due ~~Pass~~0.00 ~~Test:~~Class IfC Distributions (16)Class C Monthly Interest 471,361.25 (21)Funds Required per Note Agreement under Sections 2.07, 2.08 & 2.09 0.00 (22)Funds Required per Note Agreement under Sections 2.04 (e) & 7.01 0.00 Spread isAccount >Distributions (23)Class C Spread Account Required Deposit 0.00 TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER SERIES' ALLOCATIONS 4,810,075.79 ~~"Yes"~~EXCESS ~~Yes~~SPREAD ALLOCATED TO OTHER SERIES' 0.00 EXCESS SPREAD RELEASED TO TRANSFEROR 4,810,075.79

~~Yield~~PRINCIPAL ~~Defaults~~ALLOCATIONS Class A Class B --------------------------------------------------------------------------------------------------------- --------------------- --------------------------------------------------------------------------------------------------------- --------------------- AVAILABLE FUNDS Total ~~Portfolio~~Trust ~~Yield~~Principal ~~(Current~~Collections ~~Month)~~616,842,473.37 24-------------------- -------------------- Investor Percentage 0.~~41%~~114420 12-------------------- -------------------- Investor Principal Collections 70,578,829.~~96%~~48 11Shared Principal Collections from other Series' 546,263,643.~~46%~~89 ~~Portfolio~~Available ~~Yield~~Principal ~~(Prior~~Collections ~~Month)~~616,842,473.37 28Controlled Amoritization Amount 0.~~26%~~00 110.~~51%~~00 16Partial Amoritization Amount 0.~~75%~~00 ~~Portfolio~~0.00 ~~Yield~~Deficiency ~~(Two~~Controlled ~~Months~~Amoritization ~~Ago)~~Amount 250.~~77%~~00 110.~~34%~~00 14Monthly Principal Amount 0.~~42%~~00 ~~THREE~~0.00 ~~MONTH~~Principal ~~AVERAGE~~Shortfall ~~PORTFOLIO~~Reallocated ~~YIELD~~Principal 14to other Series' 0.~~21%~~00 0.00 Class C Total --------------------- --------------------- --------------------- --------------------- Controlled Amoritization Amount 0.00 0.00 Partial Amoritization Amount 0.00 0.00 Deficiency Controlled Amoritization Amount 0.00 0.00 Monthly Principal Amount 0.00 0.00 Principal Shortfall Reallocated Principal to other Series' 0.00 0.00

ASSOCIATES CREDIT CARD MASTER NOTE TRUST Cash Reconciliation June 18, 2001

~~Servicing~~Group 1 Coupon ~~Total~~Rate ~~Base~~Balance ~~Rate~~Interest ~~(Current~~Payments ~~Month)~~--------------------- -------------------- --------------------- --------------------- -------------------- --------------------- Series 2000-2~~.00%~~, ~~5.24%~~Class 7A 4.24% ~~Base~~$ ~~Rate~~600,000,000.00 ~~(Prior~~$ ~~Month)~~ 2,258,666.~~00%~~67 ~~5.27%~~Series 72000-2, Class B 4.2748% ~~Base~~$ ~~Rate~~80,921,000.00 ~~(Two~~$ ~~Months~~321,885.76 ~~Ago)~~Series 2000-2~~.00%~~, ~~5.79%~~Class 7C 4.7989% ~~THREE~~$ ~~MONTH~~108,553,000.00 ~~AVERAGE~~$ ~~BASE RATE 7~~471,361.~~43%~~25

FINANCE CHARGE ALLOCATIONS Class A Class B Class C AVAILABLE FUNDS Total Trust Finance Charge Collections 141,396,762.43 Investor Percentage 0.113583 Investor Finance Charge Collections 16,060,239.85 Excess Finance Charge Collections allocated to Series ~~0.00~~2000-2 ~~Available~~--------------------- ~~Finance~~-------------------- ~~Charge~~--------------------- ~~Collections~~--------------------- ~~16,060,239.85~~--------------------- ~~Total~~-------------------- ~~AVAILABLE~~--------------------- ~~FUNDS~~--------------------- Total Trust Finance Charge Collections Investor Percentage Investor Finance Charge Collections 16,060,239.85 Excess Finance Charge Collections allocated to Series 0.00 Available Finance Charge Collections 16,060,239.85 CASH FLOW ALLOCATIONS Class A ~~Distributions (1)~~Class AB ~~Monthly Interest 2,561,250.00 (2)~~Class AC ~~Monthly Interest Previously Due 0.00 (3)Class A Monthly Additional Interest 0.00 (4)Class A Monthly Additional Interest Previously Due 0.00~~ Total ~~Class~~--------------------- A-------------------- ~~Monthly~~--------------------- ~~Interest~~--------------------- ~~2,561,250.00~~--------------------- ~~CASH~~-------------------- ~~FLOW~~--------------------- ~~ALLOCATIONS~~--------------------- ~~Total~~Principal ~~Class~~Distribution ARequired ~~Distributions~~Amt ~~(1)Class~~$ A- ~~Monthly~~$ ~~Interest~~- ~~(2)Class~~- A$ ~~Monthly~~- ~~Interest~~- ~~Previously~~$-- ~~Due (3)Class A Monthly Additional~~ Interest ~~(4)Class~~Distribution ARequired ~~Monthly~~Amt ~~Additional~~$ ~~Interest Previously Due Total Class A Monthly Interest~~ 2,~~561~~258,~~250~~666.0067 ~~Class~~$ ~~B Distributions (5)Class B Monthly Interest 361~~321,~~615~~885.7276 ~~(6)Class~~$ ~~B Monthly Interest Previously Due 0~~471,361.0025 ~~(7)Class~~$ ~~B Monthly Additional Interest 0.00 (8)Class B Monthly Additional Interest Previously Due 0.00 Total Class B Monthly Interest 361~~3,~~615~~051,913.7268 ~~(9)Total~~Unpaid ~~Monthly~~Principal ~~Servicing~~Shortfalls ~~Fee~~paid ~~for~~$ ~~Series~~- ~~(10)Total~~$ ~~Servicing~~- ~~Fee~~$ ~~for~~- ~~Series~~$ ~~Previously~~- ~~Due~~Unpaid ~~(11)Class A Prepayable Increase Amount~~ Interest ~~0.00~~Shortfalls ~~(12)Class~~paid B$ ~~Prepayable~~- ~~Increase~~$ ~~Amount~~- ~~Interest~~$ ~~0.00~~- ~~(13)Investor~~$ ~~Default Amount (14)Investor Charge~~-~~Offs~~ ~~0.00~~Prepayable ~~0.00 0.00 (15)Reallocated Principal Collections Previously Due 0.00 0.00 0.00 Total Class B Distributions (5)Class B Monthly~~ Interest ~~(6)Class~~$ B- ~~Monthly~~$ ~~Interest~~- ~~Previously~~$ ~~Due~~- ~~(7)Class~~$ B- ~~Monthly Additional Interest (8)Class B Monthly Additional Interest Previously Due Total Class B Monthly Interest 361,615.72 (9)Total Monthly~~ Servicing Fee ~~for~~$ ~~Series~~ 1,315,790.00 ~~(10)Total~~$ ~~Servicing Fee for Series Previously Due 0.00 (11)Class A Prepayable Increase Amount Interest 0.00 (12)Class B Prepayable Increase Amount Interest 0.00 (13)Investor Default Amount 8~~1,~~523~~315,~~807~~790.0100 ~~(14)Investor~~--------------------- ~~Charge~~-~~Offs~~------------------- ~~0.00~~--------------------- ~~(15)Reallocated~~--------------------- ~~Principal~~--------------------- ~~Collections~~-------------------- ~~Previously~~--------------------- ~~Due~~--------------------- 0.00 Class C Distributions (16)Class C Monthly Interest 522,185.16 (17)Class C Monthly Interest Previously Due 0.00 (18)Class C Monthly Additional Interest 0.00 (19)Class C Monthly Additional Interest Previously Due 0.00 (20)Class C Prepayable Increase Amount Interest 0.00 Total ~~Class C Interest 522,185.16 (21)Funds~~ Required ~~per~~Distribution ~~Note~~$ ~~Agreement under Sections~~ 2~~.07~~, 2258,666.0867 &$ 2.09 (22)Funds Required per Note Agreement under Sections 2.04 (e) & 7.01 Class C Distributions Total (16)Class C Monthly Interest (17)Class C Monthly Interest Previously Due (18)Class C Monthly Additional Interest (19)Class C Monthly Additional Interest Previously Due (20)Class C Prepayable Increase Amount Interest Total Class C Interest 522321,~~185~~885.1676 ~~(21)Funds~~$ ~~Required per Note Agreement under Sections 2.07~~1, 2787,151.0825 &$ 2.09 0.00 (22)Funds Required per Note Agreement under Sections 2.04 (e) & 7.01 0.00 Spread Account Distributions Total (23)Class C Spread Account Required Deposit 0.00 TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER SERIES' ALLOCATIONS 24,~~775~~367,~~591~~703.9568 ~~EXCESS~~===================== ~~SPREAD~~==================== ~~ALLOCATED~~===================== TO===================== ~~OTHER~~===================== ~~SERIES'~~==================== ~~0.00~~===================== ~~EXCESS SPREAD RELEASED TO TRANSFEROR 2,775,591.95~~=====================

PRINCIPAL ALLOCATIONS Class A Class B Class C AVAILABLE FUNDS Total Trust Principal Collections 586,265,190.49 Investor Percentage 0.113583 Investor Principal Collections 66,589,640.47 Shared Principal Collections from other Series' 519,675,550.02 Available Principal Collections 586,265,190.49 Controlled Amoritization Amount 0.00 0.00 0.00 Partial Amoritization Amount 0.00 0.00 0.00 Deficiency Controlled Amoritization Amount 0.00 0.00 0.00 Monthly Principal Amount 0.00 0.00 0.00 Principal Shortfall Reallocated Principal to other Series' 0.00 0.00 PRINCIPAL ALLOCATIONS Total AVAILABLE FUNDS Total Trust Principal Collections Investor Percentage Investor Principal Collections Shared Principal Collections from other Series' Available Principal Collections Controlled Amoritization Amount 0.00 Partial Amoritization Amount 0.00 Deficiency Controlled Amoritization Amount 0.00 Monthly Principal Amount 0.00 Principal Shortfall Reallocated Principal to other Series' 0.00

ASSOCIATES CREDIT CARD MASTER NOTE TRUST Cash Reconciliation May-01 Group 1 Coupon Rate Balance Interest Payments Series 2000-98-1, Class A 5.04% $ 662,500,000.00 $ 2,784,420.24 Series 2000-98-1, Class B 5.27% $ 87,500,000.00 $ 383,998.72 Series 2000-98-1, Class C 5.77% $ 132,500,000.00 $ 637,380.21 Series 2000-98-2, Class A 5.00% $ 617,647,000.00 $ 2,572,189.22 Series 2000-98-2, Class B 5.22% $ 82,353,000.00 $ 358,056.89 Series 2000-98-2, Class C 5.77% $ 123,628,000.00 $ 594,702.19 Series 2000-99-1, Class A 5.03% $ 529,412,000.00 $ 2,219,199.51 Series 2000-99-1, Class B 5.23% $ 70,588,000.00 $ 307,656.82 Series 2000-99-1, Class C 5.77% $ 105,882,000.00 $ 509,336.54 Series 2000-99-2, Class A 5.24% $ 397,058,400.00 $ 1,734,218.74 Series 2000-99-2, Class B 5.54% $ 52,941,600.00 $ 244,356.37 Series 2000-99-2, Class C 5.77% $ 79,412,400.00 $ 382,006.73 Series 2000-99-3, Class A 4.91% $ 198,500,000.00 $ 811,388.11 Series 2000-99-3, Class B 4.91% $ 26,500,000.00 $ 108,321.33 Series 2000-99-3, Class C 5.77% $ 39,706,000.00 $ 191,002.40 Series 2000-99-4, Class A 5.29% $ 441,176,000.00 $ 1,944,850.87 Series 2000-99-4, Class B 5.55% $ 58,824,000.00 $ 271,815.90 Series 2000-99-4, Class C 5.77% $ 88,235,000.00 $ 424,447.11 Series 2000-1, Class A 5.15% $ 760,000,000.00 $ 3,260,083.33 Series 2000-1, Class B 5.36% $ 102,500,000.00 $ 458,046.88 Series 2000-1, Class C 5.77% $ 137,500,000.00 $ 661,432.29 Series 2000-2, Class A 5.12% $ 600,000,000.00 $ 2,561,250.00 Series 2000-2, Class B 5.36% $ 80,921,000.00 $ 361,615.72 Series 2000-2, Class C 5.77% $ 108,553,000.00 $ 522,185.16 Weighted Average Coupon of all Notes 5.22% $ 5,583,837,400.00 $ 24,303,961.28 Weighted Average Coupon of 5.13% $ 4,768,421,000.00 Class A and Class B Notes Current Transaction Period: Revolving Period

CASH FLOW REQUIREMENTS Series 2000-98-1 Class A Class B Class C Total Principal Distribution Due this Period $ - $ - - $ - - $-- Interest Distribution Due this Period $ 2,784,420.24 $ 383,998.72 $ 637,380.21 $ 3,805,799.17 Unpaid Principal Shortfalls paid this Period $ - $ - - $ - - $-- Unpaid Interest Shortfalls paid this Period $ - $ - - $ - - $-- Prepayable Interest $ - $ - - $ - - $-- Servicing Fee $ 1,470,833.33 $ 1,470,833.33 Total Required Distribution $ 2,784,420.24 $ 383,998.72 $ 2,108,213.54 $ 5,276,632.50 Total Required Distribution to Class A & Class B investors $ 3,168,418.96

Series 2000-98-2 Class A Class B Class C Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 2,572,189.22 $ 358,056.89 $ 594,702.19 $ 3,524,948.30 Unpaid Principal Shortfalls paid this Period $ - $ - - $ - - $-- Unpaid Interest Shortfalls paid this Period $ - $ - - $ - - $-- Prepayable Interest $ - $ - - $ - - $-- Servicing Fee $ 1,372,713.33 $ 1,372,713.33 Total Required Distribution $ 2,572,189.22 $ 358,056.89 $ 1,967,415.52 $ 4,897,661.63 Total Required Distribution to Class A & Class B investors $ 2,930,246.11

Series 2000-99-1 Class A Class B Class C Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 2,219,199.51 $ 307,656.82 $ 509,336.54 $ 3,036,192.87 Unpaid Principal Shortfalls paid this Period $ - $ - - $ - - $-- Unpaid Interest Shortfalls paid this Period $ - $ - - $ - - $-- Prepayable Interest $ - $ - - $ - - $-- Servicing Fee $ 1,176,470.00 $ 1,176,470.00 Total Required Distribution $ 2,219,199.51 $ 307,656.82 $ 1,685,806.54 $ 4,212,662.87 Total Required Distribution to Class A & Class B investors $ 2,526,856.33

Series 2000-99-2 Class A Class B Class C Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 1,734,218.74 $ 244,356.37 $ 382,006.73 $ 2,360,581.84 Unpaid Principal Shortfalls paid this Period $ - $ - - $ - - $-- Unpaid Interest Shortfalls paid this Period $ - $ - - $ - - $-- Prepayable Interest $ - $ - - $ - - $-- Servicing Fee $ 882,354.00 $ 882,354.00 Total Required Distribution $ 1,734,218.74 $ 244,356.37 $ 1,264,360.73 $ 3,242,935.84 Total Required Distribution to Class A & Class B investors $ 1,978,575.11

Series 2000-99-3 Class A Class B Class C Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 811,388.11 $ 108,321.33 $ 191,002.40 $ 1,110,711.84 Unpaid Principal Shortfalls paid this Period $ - $ - - $ - - $-- Unpaid Interest Shortfalls paid this Period $ - $ - - $ - - $-- Prepayable Interest $ - $ - - $ - - $-- Servicing Fee $ 441,176.67 $ 441,176.67 Total Required Distribution $ 811,388.11 $ 108,321.33 $ 632,179.07 $ 1,551,888.51 Total Required Distribution to Class A & Class B investors $ 919,709.44

Series 2000-99-4 Class A Class B Class C Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 1,944,850.87 $ 271,815.90 $ 424,447.11 $ 2,641,113.88 Unpaid Principal Shortfalls paid this Period $ - $ - - $ - - $-- Unpaid Interest Shortfalls paid this Period $ - $ - - $ - - $-- Prepayable Interest $ - $ - - $ - - $-- Servicing Fee $ 980,391.67 $ 980,391.67 Total Required Distribution $ 1,944,850.87 $ 271,815.90 $ 1,404,838.78 $ 3,621,505.55 Total Required Distribution to Class A & Class B investors $ 2,216,666.77

Series 2000-1 Class A Class B Class C Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 3,260,083.33 $ 458,046.88 $ 661,432.29 $ 4,379,562.50 Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ - Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ - Prepayable Interest $ - $ - $ - $ - Servicing Fee $ 1,666,666.67 $ 1,666,666.67 Total Required Distribution $ 3,260,083.33 $ 458,046.88 $ 2,328,098.96 $ 6,046,229.17 Total Required Distribution to Class A & Class B investors $ 3,718,130.21

Series 2000-2 Class A Class B Class C Total Principal Distribution Required Amount $ - $ - - $ - - $-- Interest Distribution Required Amount $ 2,561,250.00 $ 361,615.72 $ 522,185.16 $ 3,445,050.88 Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ - Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ - Prepayable Interest $ - $ - $ - $ - Servicing Fee $ 1,315,790.00 $ 1,315,790.00 Total Required Distribution $ 2,561,250.00 $ 361,615.72 $ 1,837,975.16 $ 4,760,840.88 Total Required Distribution to Class A & Class B investors $ 2,922,865.72

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