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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

For the Fiscal Year Ended December 31, 2004

Commission file number: 033-99442-01

CHASE BANK USA, NATIONAL ASSOCIATION

(formerly BANK ONE, DELAWARE, NATIONAL ASSOCIATION)

(Depositor into the Issuer described herein)

WACHOVIA CREDIT CARD MASTER TRUST

(Issuer of the Certificates)

(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code: (302) 575-5000

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

None

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

Title of each class:

Wachovia Credit Card Master Trust Class A Floating Rate Asset Backed Certificates, Series 2000-1

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES  x            NO  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.

Not Applicable.

Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Act).

YES  ¨            NO  x

State the aggregate market value of the voting stock held by non-affiliates of the Registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within 60 days prior to the date of filing.

The registrant has no voting or non-voting common equity outstanding as of the date of this Report.

DOCUMENTS INCORPORATED BY REFERENCE

None.

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Introductory Note

On October 1, 2004, Chase Bank USA, National Association (formerly known as Bank One, Delaware, National Association), a national banking association organized under the laws of the United States (the “Bank”), which is a direct wholly owned subsidiary of JPMorgan Chase & Co., assumed all rights and obligations of the Amended and Restated Pooling and Servicing Agreement, dated as of June 4, 1999, between The First National Bank of Atlanta d/b/a Wachovia Bank Card Services (the “Seller”), as Transferor and Servicer, and The Bank of New York (Delaware), as Trustee (in such capacity, the “Trustee”) for Wachovia Credit Card Master Trust (the “Trust”), as amended by the First Amendment to the Amended and Restated Pooling and Servicing Agreement, dated as of March 27, 2002, and the Second Amendment to the Amended and Restated Pooling and Servicing Agreement, dated as of September 30, 2004, each between Bank One, Delaware, National Association (formerly known as First USA Bank, N.A.) (the “Predecessor”) and the Trustee, and as amended and supplemented and as assumed by the Predecessor pursuant to the Assumption Agreement, dated as of July 27, 2001 (the “Bank One Assumption Agreement”), by and among the Predecessor, the Seller and the Trustee and as further assumed by Chase Bank USA, National Association (the “Bank”) pursuant to the Assumption Agreement, dated as of October 1, 2004 (the “Chase Assumption Agreement”), by the Bank in favor of and for the benefit of the Trustee (as so amended, supplemented and assumed, the “Pooling and Servicing Agreement”).

The Bank will respond only to certain items of Form 10-K. In doing so, the Bank will be relying on a letter dated July 31, 1989 from the Securities and Exchange Commission, Division of Corporation Finance, Office of Chief Counsel delivered to Chevy Chase Bank, F.S.B. in connection with the CC Master Credit Card Trust II (formerly the Chevy Chase Master Credit Card Trust II) which granted Chevy Chase Bank, F.S.B. relief from the requirement to respond to various items of Form 10-K. The Bank is relying on such no action letter in not responding to various items of Form 10-K. Such items are designated herein as “Not Applicable.”

The certificates listed on the cover page will be referred to collectively herein as the “Certificates.” The Certificates do not represent obligations of or interests in the Bank.

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PART I

Available Information: JPMORGAN CHASE & CO., the parent corporation of Chase Bank USA, National Association, has an Internet website at www.jpmorganchase.com which includes certain Trust reports. Electronic copies of the Trust’s annual report on Form 10-K and current reports on Form 8-K are available free of charge by visiting the “Investor Relations” section of www.jpmorganchase.com. The reports can be found under “Asset Backed Securities” in the Investor Relations section of the website. These reports are posted as soon as reasonably practicable after they are electronically filed with the Securities and Exchange Commission.

Not applicable.

There are no material pending legal proceedings with respect to the Trust, involving the Trust, the Trustee or the Registrant.

None.

PART II

The Certificates representing investors’ interests in the Trust are held and delivered in book-entry form through the facilities of the Depository Trust Company (“DTC”), a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended. All outstanding Certificates are held by Cede & Co., the nominee of DTC. The records of DTC indicate that, at December 31, 2004, there were ten (10) DTC participants holding a position in the Class A Floating Rate Asset Backed Certificates, Series 2000-1.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

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As disclosed in the Form 8-K filed on July 26, 2004, on July 1, 2004, Bank One Corporation merged with JPMorgan Chase & Co. with JPMorgan Chase & Co. as the surviving entity. In connection therewith, as of July 1, 2004, PricewaterhouseCoopers has replaced KPMG LLP (“KPMG”) as the accountants for the Trust.

The reports of KPMG with respect to the Trust for the years ended December 31, 2003 and December 31, 2002 did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principle.

In connection with its reports with respect to the Trust for the years ended December 31, 2003 and December 31, 2002 and through June 30, 2004, there were no disagreements between the Trust and KPMG on any matter of accounting principles or practices, financial disclosure or scope or procedure, which disagreement, if not resolved to the satisfaction of KPMG would have caused KPMG to make reference to the subject matter of the disagreement in connection with its report for such years.

None.

None

PART III

Not applicable.

Not applicable

(a) The Certificates of each Class of each Series representing investors’ interests in the Trust are represented by one or more Certificates registered in the name of Cede & Co., the nominee of DTC, and an investor holding an interest in the Trust is not entitled to receive a Certificate representing such interest except in certain limited circumstances. Accordingly, Cede & Co. is the sole holder of record of the Certificates, which it held on behalf of brokers, dealers, banks and other direct participants in the DTC system at December 31, 2004. At December 31, 2004, the following direct DTC participants held positions in the Certificates representing interests in the Trust equal to or exceeding 5% of the total principal amount of the Certificates of each Class of such Series outstanding on that date.

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(b) Not applicable.

(c) None.

(d) None.

None.

Not applicable.

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PART IV

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on March 30, 2005.

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on March 30, 2005.

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SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

No annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to Noteholders during the period covered by this Annual Report on Form 10-K and the registrant does not intend to furnish such materials to Noteholders subsequent to the filing of this report.

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INDEX OF EXHIBITS

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