American Express Master Trust 8-K Material Event Wed Jun 15 2005

EX-99.1
3
b407213_ex99-1.txt
MONTHLY SERVICER'S CERTIFICATE

EXHIBIT 99.1

Monthly Servicer's Certificate
American Express Travel Related Services Company, Inc.

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American Express Master Trust
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The undersigned, a duly authorized representative of American Express
Travel Related Services Company, Inc. ("TRS"), as Servicer pursuant to the
Amended and Restated Master Pooling and Servicing Agreement dated as of
April 16, 2004,(the "Agreement"), as supplemented by the Series
Supplements, amongst TRS, American Express Receivables Financing
Corporation ("RFC"), American Express Centurion Bank ("AECB") and American
Express Bank, FSB ("FSB"), as Transferors, and The Bank of New York, as
Trustee, does hereby certify the information set forth below.

1. Capitalized terms used in this Certificate have their respective meanings
as set forth in the Agreement or Series Supplement as applicable;
provided, that the preceding Due Period" shall mean the Due Period
immediately preceding the calendar month in which this Certificate is
delivered. This certificate is delivered pursuant to subsection 3.04 (c)
of the Agreement. References herein to certain sections and subsections
are references to the respective sections and subsections in the
Agreement.

2. TRS is Servicer under the Agreement.

3. The undersigned is a Servicing Officer.

4. This Certificate relates to the Distribution Date occurring on June 15,
2005 and related due period from April 25, 2005 through May 24, 2005 .

Note: On June 15, 2005, the Series 2002-2 Certificates in the principal
amount of $1,081,081,081 are being repaid. The information presented in
this Servicer Report has been presented giving effect to such repayment as
if it had occurred during the related due period. The following table shows
the line items that are affected, how they are presented in this report and
how they would be represented if they had been reported without giving
effect to such repayment.

Line Item Line Item Amount
Amount Presented Presented Without
Line Item: In this Report: Effect of Repayment:

Aggregate Trust Information:

A.2. Aggregate Invested Amount $0.00 $1,081,081,081.00

A.3. Transferor Amount $6,175,240,669.88 $5,094,159,588.88

A.4.(b) Transferor Percentage 100% 82.4933%

D.5. Minimum Trust Principal Amount $0.00 $1,161,100,000.00

D.6. Transferor Amount (reduced $6,168,081,539.00 $5,087,000,458.00
by Privileged Assets)

D.8. Transferor Amount (reduced 100% 82.47%
by Privileged Assets) as a %
of Minimum Trust Principal
Component

A. Information Regarding the American Express Master Trust

1. Trust Principal Component as of the
end of the preceding Due Period..... $6,175,240,669.82

2. Aggregate Invested Amounts as of the end of the
preceding Due Period..... $0.00

3. Transferor Amount as of the end of the
preceding Due Period..... $6,175,240,669.82

4.(a) Transferor Percentage as of the
end of the second preceding Due Period 82.1996%

4.(b) Transferor Percentage as of the end of the
preceding Due Period..... 100.00%

5. Aggregate Excess Principal Collections for the
preceding Due Period..... $943,494,338.40

6. Aggregate Principal Shortfalls for the
preceding Due Period..... $0.00

Page 1

Monthly Servicer's Certificate
American Express Travel Related Services Company, Inc.

B. Information Regarding Performance of the American Express Master Trust
Receivable Pool

1. The aggregate Receivable balance as of

(a) the beginning of the preceding Due Period was
equal to..... $6,261,179,113.18

(b) the end of the preceding Due Period was
equal to..... $6,366,227,494.66

2. The Yield Factor in effect for the preceding Due Period 3.0000%

3. The aggregate amount of billed Receivables as of the
beginning of the preceding Due Period was equal to $6,055,632,443.87

4.(a) The aggregate amount of Collections on Receivables,
exclusive of recoveries for the preceding Due Period
was equal to..... $5,456,462,146.73

(b) The aggregate balance of Receivables
deposited to the Collection Account
Pursuant to Sections 2.04 (d) and 3.03
of the Agreement for the preceding Due Period was equal to $0.00

5. The aggregate amount of Principal Collections
for the preceding Due Period was equal to..... $5,292,768,282.33

6. The aggregate amount of Yield Collections
for the preceding Due Period was equal to..... $163,693,864.40

7. Gross Losses
[The aggregate amount of Receivables for all Accounts
which became Defaulted Accounts during the
preceding Due Period] was equal to..... $11,926,805.03

8. The aggregate amount of Recoveries
for the preceding Due Period was equal to..... $4,055,932.03

9.(a) Net Losses [Gross Losses, less Recoveries]
for the preceding Due Period was equal to..... $7,870,873.00

(b) The Default Amount [Net Losses, times
(1 minus the Yield Factor)]
for the preceding Due Period was equal to..... $7,634,746.81

10. Delinquent Balances
The aggregate amount of outstanding balances in the
Accounts that was delinquent as of such Accounts'
cycle billing date occurring during the
preceding Due Period:
Aggregate Balance
(a) 30-59 Days $65,035,784.67
(b) 60-89 Days $20,279,856.38
(c) 90-119 Days $15,710,209.89
(d) 120 days or more $46,820,247.15
Total $147,846,098.09

Page 2

Monthly Servicer's Certificate
American Express Travel Related Services Company, Inc.

C. Information Regarding Performance of the American Express Master Trust
Receivable Pool (Percentage Basis)

1. The aggregate amount of Charge Volume and Fees
for the preceding Due Period..... $5,573,437,333.24

2. Computed yield as a percentage of Charge Volume and Fees
[Yield Collections for the preceding Due Period
divided by teh aggregate amount of Charge Volume and Fees
for the preceding Due Period]..... 2.9370%

3. Gross Losses as a Percentage of Charge Volume and Fees
[Gross Losses, divided by the aggregate amount of Charge
Volume and fees for the preceding Due Period]..... 0.2140%

4. Recovery rate [Recoveries, divided by
the aggregate amount of Charge Volume and Fees
for the preceding Due Period]..... 0.0728%

5. Net Losses as a Percentage of Charge Volume and Fees
[Net Losses, divided by the aggregate amount of Charge
Volume and Fees for the preceding Due Period]..... 0.1412%

6. Computed Net Yield as a Percentage of Charge Volume and Fees
[Yield Collections less Net Losses,
divided by the aggregate amount of Charge Volume and Fees
for the preceding Due Period]..... 2.7958%

7. Average Monthly Payment rate for the Due Period
[Collections on Receivables, excluding Recoveries
for the preceding Due Period, divided by the
aggregate amount of billed Receivables as of
the beginning of the preceding Due Period]..... 90.1056%

8. Receivable turnover rate
Charge Volume and Fees for the previous twelve Due Periods
divided by the arithmetic average of month-end Receivable
balances for the previous twelve Due Periods, including the
Receivable balance at the beginning of such twelve month
period 10.3633%

9. Delinquency rates
[The aggregate amount of outstanding balances in the Accounts
that were delinquent as of such Accounts' cycle billing date
occurring during the preceding Due Period, divided by the
aggregate amount of outstanding balances for all Accounts
as of such Accounts' cycle billing date occurring during the
preceding Due Period]:

(a) 30-59 Days 1.0570%
(b) 60-89 Days 0.3296%
(c) 90-119 Days 0.2553%
(d) 120 or more Days 0.7609%

Page 3

Monthly Servicer's Certificate
American Express Travel Related Services Company, Inc.

D. Information Regarding the Privileged Assets Program

1. Estimated Trust Privileged Assets Billed Amounts
for the second preceding Due Period..... $16,745,402.00

2. Privileged Assets Applied Dilution Factor for the
second preceding Due Perid..... 44.07507%

3. Privileged Assets Calculated Amount for the
preceding Due Period..... $7,159,131.00

4. Trust Principal Component as of the end of the
preceding Due Period (reduced by the Privileged
Assets Calculated Amount for the preceding
Due Period)..... $6,168,081,539.00

5. Minimum Trust Principal Component..... $0.00

6. Transferor Amount (reduced by the Privileged
Assets Calculated Amount for the preceding
Due Period) as of the end of the preceding
Due Period..... $6,168,081,539.00

7. The Trust Principal Component as of the end
of the preceding Due Period (reduced by the
privileged Assets Calculated Amount for the
preceding Due Period) [Item 4] was not less
than the Minimum Trust Principal Component [Item 5]. Yes

8. Transferor Amount (reduced by the Privileged
Assets Calculated Amount for the preceding Due
Period) [Item 6] as a percentage of the Trust Principal
Component (reduced by the Privileged Assets
Calculated Amount for the preceding Due Period) [Item 4]. 100.00%

9. The Transferor Amount (reduced by the Privileged
Assets Calculated Amount for the preceding Due
Period) [Item 6] was not less than 3.0% of the
Trust Principal Component (reduced by the Privileged
Assets Calculated Amount for the preceding Due Period)
[Item 4]..... Yes

Page 4

Monthly Servicer's Certificate
American Express Travel Related Services Company, Inc.

10. Estimated Trust Privileged Assets Billed Amounts
for the second Preceding Due Period [Item 1] as a
percentage of Trust Principal Component for the
preceding Due Period (as reduced) [Item 4]..... 0.2710%

11. Item 10 does not exceed 1% at the same time as
Item 8 is not less than 17%. Yes

12. Average of the privileged Assets Monthly Payment
Rates for the 6 month period ending on the last
day of the second preceding Due Period. 88.15844%

13. Trust Average Monthly Payment Rate for the preceding
Due Period. 89.1912%

14. 110% of Item 13..... 98.1103%

15. Item 12 is not less than Item 14 No

16. Item 8 is not less than 17% Yes

IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 10th
day of June, 2005.

American Express
Travel Related Services
Company, Inc.
Servicer,

By: /s/ Susanne L. Miller
---------------------
Name: Susanne L. Miller
Title: Vice President
Treasury Controller

Page 5

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American Express Travel Related Services Company, Inc.
American Express Master Trust, Series 2002-2
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Schedule - to Monthly Servicer's Certificate with respect
To the Series 2002-2 Certificates

A. Information Regarding American Express Master Trust Series
2002-2 Allocation Percentages

1. Floating Allocation Percentage as of the end of
the Second preceding Due Period..... 9.5677%

2. Fixed Allocation Percentage..... 17.8004%

3.(a) Additional Amounts pursuant to Section 4.03(c)(ii)
treated as Yield Collections..... $0.00

(b) Additional Amounts pursuant to Section 4.03(c)(ii)
treated as Principal Collections..... $0.00

4. The amount of Yield Collections allocable to
Series 2002-2 [Floating Allocation
Percentage, times Yield Collections]..... $15,661,785.62

5. The amount of Principal Collections allocable to
Series 2002-2:

(a) During the Revolving Period [Floating Allocation
Percentage times Principal Collections], treated
as Excess Principal Collections..... $0.00

(b) During the Accumulation Period or an Amortization
Period [Fixed Allocation Percentage, times
Principal Collections]..... $942,135,321.38

6. The Investor Default Amount allocable to
Series 2002-2 [Floating Allocation
Percentage, times Default Amount]..... $730,471.90

B. Information Regarding the Application of Funds on Deposit in
the Collection Account for the Series 2002-2 Certificates,
pursuant to Section 4.08 of the Series Supplement

1. Class A Monthly Interest @ 3.1400% $2,616,666.67

2. Class B Monthly Interest $239,189.19

3. Investor Monthly Servicing Fee $1,801,801.80

4. Reimbursement of Class A Investor Charge offs $0.00

5. Investor Default Amount $730,471.90

6. Unpaid Class B Interest $0.00

7. Reimbursement of Class B Investor Charge offs $0.00

8. Funding of Reserve Account $0.00

9. Excess Yield Collections $10,273,656.06

Page 1

C. Information on the Application of Principal
Collections to the Collection Account
regarding Series 2002-2 Certificates

1. Class A Monthly Principal deposited to the
Collection Account for distribution to
Class A Certificateholders $1,000,000,000.00

2. Class B Monthly Principal deposited to the
Collection Account for distribution to
Class B Certificateholders $81,081,081.00

3. Series 2002-2 Principal Shortfall $0.00

4. Excess Principal Collections allocable from other Series
deposited to the Series 2002-2 Collection Account
for distribution to Certificateholders $0.00

5. Excess Principal Collections allocable to other
Series N/A

D. Information Regarding the Series 2002-2 Class A
Interest Funding Account

1. Beginning Balance $0.00

2. Deposit from Collection Account $2,616,666.67

3. Withdrawal to Class A Certificateholders, if any $2,616,666.67

4. Ending Balance $0.00

E. Information Regarding the Series 2002-2 Accrued and
Unpaid Amounts

1. The amount of any Class A Monthly Interest previously
due but not deposited in the Class A Interest Funding
Account on a prior Distribution Date..... $0.00

2. The amount of additional interest [at the Class A
Certificate Rate] with respect to interest amounts that
were due but not paid on a previous Interest Payment
Date or Special Payment Date..... $0.00

3. The amount of any Class B Monthly Interest previously
due but not distributed to Class B Certificateholders
on a prior Distribution Date..... $0.00

4. The amount of additional interest [at the Class B
Certificate Rate] with respect to interest
amounts that were due but not paid
on a previous Distribution Date..... $0.00

Page 2

F. Information Regarding Series 2002-2 Certificate
Balances, Invested Amounts, and Investor Charge Offs
(for the preceding Due Period)

1. Class A Certificate Balance $1,000,000,000.00

2. Class B Certificate Balance $81,081,081.00

3. Class A Invested Amount $1,000,000,000.00

4. Class B Invested Amount $81,081,081.00

5. Class A Investor Charge Offs for the preceding Due
Period $0.00

6. Class B Investor Charge Offs for the preceding Due
Period $0.00

7. Unreimbursed Class A Investor Charge Offs $0.00

8. Unreimbursed Class B Investor Charge Offs $0.00

G. Information Regarding the Current Monthly Distribution
To Class A and Class B Certificateholders

1. Total Class A distributions $1,002,616,666.67

2. Class A interest distributions $2,616,666.67

3. Class A principal distributions $1,000,000,000.00

4. Total Class B distributions $81,320,270.19

5. Class B interest distributions $239,189.19

6. Class B principal distributions $81,081,081

H. The Series 2002-2 Factors

1. The Series 2002-2 Class A Factor for the preceding Record Date
[which represents the ratio of the amount of the Class A
Invested Amount as of such Record Date (adjusted after taking
into account any reduction in the Class A Invested Amount that
will occur on the following distribution date) to the Initial
Class A Invested Amount (rounded to seven decimal places) 0.0000000%

2. The Series 2002-2 Class B Factor for the preceding Record Date
[which represents the ration of the amount of the Class B
Invested Amount as of such Record Date (adjusted after taking
into account any reduction in the Class B Invested Amount that
will occur on the following distribution date) to the Initial
Class A Invested Amount (rounded to seven decimal places) 0.0000000%

Page 3

Pursuant to Section 9.01 of the Agreement, to the knowledge of the undersigned,
no Early Amortization Event, with respect to the Series 2002-2 Certificates has
occurred.

Any Yield Factor in effect during the preceding Due Period was not below the
minimum Yield Factor.

The Trust Principal Component as of the end of the preceding Due Period was not
less than the Minimum Trust Principal Component.

The Transferor Amount as of the end of the preceding Due Period was not less
than 3.0% of the Trust Principal Component.

IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 10th
day of June, 2005.

American Express
Travel Related Services
Company, Inc.
Servicer,

By: /s/ Susanne L. Miller
---------------------
Name: Susanne L. Miller
Title: Vice President
Treasury Controller

Page 4

American Express Master Trust (887616) SEC Filing 8-K Material Event for the period ending Wednesday, June 15, 2005

SEC Filings

887616 Annual Reports

887616 Corporate News