Synchrony Credit Card Master Note Trust - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - November 26, 2014

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8-K - FORM 8-K - Synchrony Credit Card Master Note Trustv395283_8k.htm
EX-4.1 - EXHIBIT 4.1 - Synchrony Credit Card Master Note Trustv395283_ex4-1.htm

 

Exhibit 99.1

 

The following tables summarize the trust portfolio by various criteria as of October 31, 2014 for each of the retailers included in the trust portfolio, except for the “Composition by FICO® Score” table, which reflects receivables balances as of October 31, 2014, and the composition of accounts by FICO® score as most recently refreshed. The Dillard’s accounts were de-designated and the related receivables removed from the trust on November 7, 2014. The following information regarding the trust portfolio has been prepared on a pro forma basis as if the removal occurred at the close of business on October 31, 2014.

 

Please note that numbers and percentages presented in the tables in this section may not sum to the totals presented due to rounding.

 

For purposes of the tables in this section:

 

•Total Receivables Outstanding is the sum of principal receivables and finance charge receivables (which includes fee receivables) included in the trust portfolio in the period indicated.

 

•Accounts is the number of accounts included in the trust portfolio as of the date or in the period indicated.

 

Composition by Retailer

 

Retailer  Total Receivables
Outstanding		   Percentage of
Total Receivables
Outstanding		   Number
of Accounts		   Percentage
of Number
of Accounts		 
JCPenney  $3,383,368,223    20.0%  $7,225,489    29.1%
Lowe’s   2,980,477,130    17.7%   2,566,682    10.4%
Wal-Mart (1)   2,268,474,947    13.4%   2,089,523    8.4%
Sam’s Club Dual Card   1,932,810,364    11.4%   1,602,937    6.5%
Sam’s Club(1)   1,832,410,857    10.9%   2,753,214    11.1%
Gap Family Dual Card(2)   1,633,779,046    9.7%   1,873,930    7.6%
Belk   879,749,021    5.2%   2,040,153    8.2%
Gap(3)   619,341,675    3.7%   2,122,043    8.6%
Chevron   453,524,472    2.7%   1,716,217    6.9%
JCPenney Dual Card   175,841,821    1.0%   122,339    0.5%
Other   722,093,134    4.3%   677,398    2.7%
Total  $16,881,870,688    100.0%  $24,789,925    100.0%

 

 

(1)Sam’s Club and Wal-Mart are affiliated retailers. Sam’s Club cards may also be used at Wal-Mart locations, and Wal-Mart cards may be used at Sam’s Club locations if the cardholder belongs to the club. Figures shown here are based on which retailer is identified on the card, not where the purchase was made.

 

(2)Figures presented for Gap Family Dual Card include Old Navy Dual Card, Gap Dual Card and Banana Republic Dual Card, which are affiliated retailers. Each of these retailers’ cards may be used at the locations of the other two.

 

(3)Figures presented for Gap include Old Navy, Gap and Banana Republic, which are affiliated retailers. Each of these retailers’ cards may be used at the locations of the other two.

 

 
 

  

Composition by Account Balance

  

Account Balance Range  Total Receivables
Outstanding		   Percentage of
Total Receivables
Outstanding		   Number
of Accounts		   Percentage
of Number
of Accounts		 
Credit Balance  $(17,275,209)   -0.1%   330,648    1.3%
No Balance   -    0.0%   9,755,132    39.4%
$0.01-$500.00   1,259,218,913    7.5%   7,438,561    30.0%
$500.01-$1,000.00   1,572,146,300    9.3%   2,159,388    8.7%
$1,000.01-$2,000.00   3,300,112,240    19.5%   2,279,135    9.2%
$2,000.01-$3,000.00   2,928,340,277    17.3%   1,196,852    4.8%
$3,000.01-$4,000.00   2,252,044,334    13.3%   651,251    2.6%
$4,000.01-$5,000.00   1,883,465,748    11.2%   419,747    1.7%
$5,000.01-$6,000.00   1,387,552,755    8.2%   253,965    1.0%
$6,000.01-$7,000.00   880,466,147    5.2%   136,341    0.5%
$7,000.01-$8,000.00   587,003,041    3.5%   78,831    0.3%
$8,000.01-$9,000.00   378,226,818    2.2%   44,702    0.2%
$9,000.01-$10,000.00   271,665,038    1.6%   28,694    0.1%
$10,000.01-$15,000.00   168,351,321    1.0%   15,031    0.1%
$15,000.01-$20,000.00   20,818,307    0.1%   1,249    0.0%
$20,000.01 or  more   9,734,659    0.1%   398    0.0%
Total  $16,881,870,688    100.0%   24,789,925    100.0%

 

Composition by Credit Limit

  

Credit Limit Range  Total Receivables
Outstanding		   Percentage of
Total Receivables
Outstanding		   Number
of Accounts		   Percentage
of Number
of Accounts		 
$0.01-$500.00  $186,254,647    1.1%   1,918,724    7.7%
$500.01-$1,000.00   539,015,973    3.2%   2,127,989    8.6%
$1,000.01-$2,000.00   1,796,404,742    10.6%   6,202,418    25.0%
$2,000.01-$3,000.00   2,238,626,682    13.3%   4,565,531    18.4%
$3,000.01-$4,000.00   1,997,976,844    11.8%   2,648,085    10.7%
$4,000.01-$5,000.00   2,240,427,916    13.3%   2,174,415    8.8%
$5,000.01-$6,000.00   2,080,433,902    12.3%   1,455,615    5.9%
$6,000.01-$7,000.00   1,360,235,800    8.1%   933,191    3.8%
$7,000.01-$8,000.00   1,458,248,077    8.6%   977,448    3.9%
$8,000.01-$9,000.00   891,942,747    5.3%   488,478    2.0%
$9,000.01-$10,000.00   1,626,320,086    9.6%   1,069,746    4.3%
$10,000.01 or more   465,983,272    2.8%   228,285    0.9%
Total  $16,881,870,688    100.0%   24,789,925    100.0%

 

Composition by Account Age

  

Age  Total Receivables
Outstanding		   Percentage of
Total Receivables
Outstanding		   Number
of Accounts		   Percentage
of Number
of Accounts		 
Up to 6 Months  $-    0.0%   -    0.0%
6 Months to 12 Months   -    0.0%   -    0.0%
Over 12 Months to 24 Months   109,090,802    0.6%   225,545    0.9%
Over 24 Months to 36 Months   1,117,030,864    6.6%   1,779,678    7.2%
Over 36 Months to 48 Months   1,305,329,540    7.7%   1,923,052    7.8%
Over 48 Months to 60 Months   1,375,701,502    8.1%   1,814,916    7.3%
Over 60 Months to 72 Months   1,323,779,803    7.8%   1,759,385    7.1%
Over 72 Months to 84 Months   1,541,139,803    9.1%   1,828,976    7.4%
Over 84 Months to 96 Months   1,498,164,249    8.9%   1,884,967    7.6%
Over 96 Months to 108 Months   1,207,489,000    7.2%   1,513,843    6.1%
Over 108 Months to 120 Months   1,359,807,901    8.1%   1,594,866    6.4%
Over 120 Months   6,044,337,225    35.8%   10,464,697    42.2%
Total  $16,881,870,688    100.0%   24,789,925    100.0%

 

 
 

  

Except for the applicable states listed below, no state accounted for more than 5% of the number of accounts or 5% of the total receivables balances, as applicable, as of October 31, 2014 for each of the retailers included in the trust portfolio.

 

Composition by Billing Address

 

State  Total Receivables
Outstanding		   Percentage of
Total Receivables
Outstanding		   Number
of Accounts		   Percentage
of Number
of Accounts		 
Texas  $1,636,425,031    9.7%   2,212,958    8.9%
California   1,381,544,391    8.2%   2,467,189    10.0%
Florida   1,093,288,843    6.5%   1,613,426    6.5%
North Carolina   889,043,552    5.3%   1,258,806    5.1%
New York   810,894,671    4.8%   1,280,325    5.2%
Other   11,070,674,201    65.6%   15,957,221    64.4%
Total  $16,881,870,688    100.0%   24,789,925    100.0%

 

Composition by Delinquency Status

  

Aging Status  Total Receivables
Outstanding		   Percentage of
Total Receivables
Outstanding		   Number
of Accounts		   Percentage
of Number
of Accounts		 
Current, Credit and Zero Balance  $15,689,138,720    92.9%   24,013,584    96.9%
1-29 Days   568,987,013    3.4%   438,845    1.8%
30-59 Days   186,646,171    1.1%   112,523    0.5%
60-89 Days   138,878,280    0.8%   75,292    0.3%
90-119 Days   113,427,602    0.7%   58,205    0.2%
120-149 Days   102,364,324    0.6%   50,922    0.2%
150 or More Days   82,428,578    0.5%   40,554    0.2%
Total  $16,881,870,688    100.0%   24,789,925    100.0%

 

The following table reflects receivables as of October 31, 2014, and the composition of accounts by FICO® score as most recently refreshed:

 

Composition by FICO® Score

 

FICO® Credit Score Range(1)  Total
Receivables
Outstanding		   Percentage
of Total Receivables
Outstanding		 
Less than or equal to 599  $1,303,309,048    7.7%
600 to 659   3,322,567,810    19.7%
660 to 719   6,702,003,245    39.7%
720 and above   5,481,381,094    32.5%
No Score   72,609,491    0.4%
Total  $16,881,870,688    100.0%

 

 

(1)FICO® is a federally registered trademark of Fair, Isaac & Company.