WF Card Issuance Trust
11/15/2024 | Press release | Distributed by Public on 11/15/2024 08:58
Asset Backed Issuer Distribution Report Form 10 D
WF Card Issuance Trust
WFCardSeries Monthly Noteholders' Statement
Monthly Period: October 2024
| End of Monthly Period | October 31, 2024 | |||||
| Interest Period | October 15, 2024 | through | November 14, 2024 | |||
| Distribution Date | November 15, 2024 | |||||
| Days in Interest Period | 31 |
Reference is made to the Indenture (the "Indenture"), dated as of November 14,2023, and the WFCardSeries Indenture Supplement (the "Indenture Supplement"), dated as of November 14, 2023, each by and among WF Card Issuance Trust, as Issuer, U.S. Bank Trust Company, National Association, as Indenture Trustee and Note Registrar, and U.S. Bank National Association, as Bank. Terms used herein and not defined herein have the meanings ascribed to them in the Indenture and the Indenture Supplement, as applicable. Each of the Indenture and the Indenture Supplement has been included as an exhibit to a report on Form 8-K (the "Form 8-K) filed by WF Card Funding, LLC and the WF Card Issuance Trust with the Securities and Exchange Commission under Central Index Key (CIK) Nos. 0001833590 and 0001833494, respectively, on November 14, 2023.
The following computations are prepared with respect to the Transfer Date of November 14, 2024 and with respect to the performance of the Collateral during the related Monthly Period.
| Beginning | Ending | |||||||
|
Number of Accounts (1) |
3,306,034 | 3,300,497 | ||||||
|
Principal Receivables |
$ | 9,147,863,402.58 | $ | 9,220,947,147.63 | ||||
|
Finance Charge Receivables |
$ | 93,462,019.63 | $ | 96,443,391.65 | ||||
|
Discount Option Receivables |
$ | 0.00 | $ | 0.00 | ||||
|
Total Receivables |
$ | 9,241,325,422.21 | $ | 9,317,390,539.28 | ||||
|
Increase in Principal Receivables from Additional Accounts |
$ | 0.00 | ||||||
|
Increase in Finance Charge Receivables from Additional Accounts |
$ | 0.00 | ||||||
|
Increase in Discount Option Receivables from Additional Accounts |
$ | 0.00 | ||||||
|
Decrease in Principal Receivables due to Removed Accounts |
$ | 0.00 | ||||||
|
Decrease in Finance Charge Receivables due to Removed Accounts |
$ | 0.00 | ||||||
|
Decrease in Discount Option Receivables due to Removed Accounts |
$ | 0.00 | ||||||
|
Average Principal Receivables |
$ | 9,100,993,953.54 |
| (1) |
Accounts include certain accounts that have been closed and have a balance. |
Page 1 of 10
| II. |
Transferor Interest |
|
End of Monthly Period Excess Funding Account Balance |
$ | 0.00 | ||
|
End of Monthly Period Minimum Transferor Interest |
$ | 461,047,357.38 | ||
|
End of Monthly Period Transferor Interest |
$ | 6,220,947,147.63 | ||
|
Seller's Interest percentage (2) |
207.36 | % | ||
|
E.U. Risk Retention (3) |
67.47 | % |
| (2) |
Seller's Interest is calculated as End of Monthly Period Transferor Interest divided by the aggregate unpaid principal balance of the outstanding notes issued by the Issuer (including notes held for the life of such notes by Wells Fargo Bank, National Association or its wholly-owned affiliates). Wells Fargo Bank, National Association, as sponsor, currently complies with the U.S. risk retention rules through retention by WF Card Funding, LLC of a "seller's interest," in the form of the Transferor Interest. |
| (3) |
E.U. Risk Retention is calculated as End of Monthly Period Transferor Interest divided by End of the Month Principal Receivables. Wells Fargo Bank, National Association, as "originator" for the purposes of the EU risk retention rules, currently retains a material net economic interest that is not less than five percent of the nominal value of the securitized exposure, which interest is not subject to any credit risk mitigation, short position or other hedge, except to the extent permitted by the EU risk retention rules. |
| III. |
Collections and Allocations |
| Trust | Series Allocation | |||||||
|
Principal Receivables Collections |
$ | 3,472,040,872.52 | $ | 843,431,813.32 | ||||
|
Other Items |
$ | 5,304,820.40 | ||||||
|
Available Principal Amounts |
$ | 848,736,633.72 | ||||||
|
Finance Charge Receivables Collections Excluding Interchange and Investment Earnings |
$ | 125,798,726.53 | $ | 30,198,437.42 | ||||
|
Discount Option Receivables Finance Charge Collections |
$ | 0.00 | $ | 0.00 | ||||
|
Yield from Finance Charges Collected (4) |
16.59 | % | ||||||
|
Interchange |
$ | 72,050,963.39 | $ | 72,050,963.39 | ||||
|
Yield from Interchange (5) |
9.50 | % | ||||||
|
Investment Earnings |
$ | 0.00 | $ | 0.00 | ||||
|
Other Items |
$ | 0.00 | ||||||
|
Available Funds |
$ | 102,249,400.81 | ||||||
|
Default Amounts |
$ | 16,567,201.63 | $ | 5,304,820.40 | ||||
|
Servicer Interchange |
$ | 1,411,290.32 | ||||||
|
Net Servicing Fee |
$ | 2,352,150.54 | ||||||
|
Total Servicing Fee |
$ | 15,168,323.26 | $ | 3,763,440.86 | ||||
|
Weighted Average Available Funds Allocation Amount |
$ | 2,258,064,516.13 | ||||||
|
Average Principal Investor Percentage |
24.7227 | % | ||||||
|
Average Floating Investor Percentage |
24.7227 | % |
| (4) |
Yield from Finance Charges Collected is calculated as Finance Charge Receivables Collections Excluding Interchange and Investment Earnings plus Discount Option Receivables Finance Charge Collections divided by Average Principal Receivables, as calculated in the trust receivables section above annualized on a 30/360 basis. |
| (5) |
Yield from Interchange is calculated as Interchange divided by Average Principal Receivables, as calculated in the trust receivables section above annualized on a 30/360 basis. |
Page 2 of 10
| IV. |
End of Month Delinquencies |
|
Number of Accounts |
Percentage of Total Number of Accounts |
Total Receivables |
Percentage of Total Receivables |
|||||||||||||
|
30 to 59 Days Delinquent |
4,580 | 0.14 | % | $ | 36,399,635.37 | 0.39 | % | |||||||||
|
60 to 89 Days Delinquent |
3,026 | 0.09 | % | $ | 26,232,258.67 | 0.28 | % | |||||||||
|
90 to 119 Days Delinquent |
2,379 | 0.07 | % | $ | 21,667,675.16 | 0.23 | % | |||||||||
|
120 to 149 Days Delinquent |
1,964 | 0.06 | % | $ | 17,696,458.46 | 0.19 | % | |||||||||
|
150 to 179 Days Delinquent |
1,752 | 0.05 | % | $ | 16,741,130.47 | 0.18 | % | |||||||||
|
180 or More Days Delinquent |
3 | 0.00 | % | $ | 62,031.24 | 0.00 | % | |||||||||
|
Total |
13,704 | 0.41 | % | $ | 118,799,189.37 | 1.27 | % |
|
Three-Month Average 60+ Delinquency Rate |
0.80 | % | ||
|
Does the Three-Month Average 60+ Day Delinquency Rate equal or exceed the Delinquency Trigger Rate? |
N |
| V. |
Charge-Offs |
|
Number of Accounts experiencing a Charge-Off |
2,560 | |||
|
Default Amounts |
$ | 16,567,201.63 | ||
|
Less: Recovery Amounts |
$ | 550,674.57 | ||
|
Net Charge-Offs |
$ | 16,016,527.06 | ||
|
Average Net Charge-Off of Accounts experiencing a Charge-Off |
$ | 6,256.46 |
|
October Monthly Period |
September Monthly Period |
August Monthly Period |
||||||||||
|
Gross Charge-Off Rate (6) |
2.18 | % | 1.95 | % | 1.88 | % | ||||||
|
Net Charge-Off Rate (7) |
2.11 | % | 1.90 | % | 1.84 | % |
| (6) |
Gross Charge-Off Rate is calculated as Default Amounts as calculated in Section V divided by Average Principal Receivables, as calculated in the trust receivables section above annualized on a 30/360 basis. |
| (7) |
Net Charge-Off Rate is calculated as Net Charge-Offs as calculated in Section V divided by Average Principal Receivables, as calculated in the trust receivables section above annualized on a 30/360 basis. |
Page 3 of 10
| VI. |
WFCardSeries Performance Data |
|
October Monthly Period |
September Monthly Period |
August Monthly Period |
||||||||||
|
Yield (8) |
54.34 | % | 57.59 | % | 61.28 | % | ||||||
|
Plus: Yield - Collections Of Discount Receivables |
0.00 | % | 0.00 | % | 0.00 | % | ||||||
|
Less: Investor Default Amounts |
2.82 | % | 1.94 | % | 1.86 | % | ||||||
|
(a) Portfolio Yield |
51.52 | % | 55.65 | % | 59.42 | % | ||||||
|
Weighted Average Interest Rates |
4.95 | % | 5.28 | % | 5.28 | % | ||||||
|
Plus: Servicer Interchange |
0.75 | % | 0.75 | % | 0.75 | % | ||||||
|
Plus: Net Servicing Fee |
1.25 | % | 1.25 | % | 1.25 | % | ||||||
|
(b) Base Rate |
6.95 | % | 7.28 | % | 7.28 | % | ||||||
|
Excess Available Funds Percentage |
44.57 | % | 48.38 | % | 52.14 | % | ||||||
|
Quarterly Excess Available Funds Percentage |
48.36 | % | 50.78 | % | 51.97 | % | ||||||
|
Principal Payment Rate (9) |
38.00 | % | 36.81 | % | 39.70 | % |
| (8) |
WFCardSeries Yield includes 100% allocation of gross interchange plus pro-rata (based on the applicable Floating Investor Percentage) allocation of finance charge receivables collected. |
| (9) |
Principal Payment Rate is calculated as Principal Receivables Collections from Section III above divided by the Principal Receivables balance at the beginning of the Monthly Period. If an Account Addition or Removal occurs during the Monthly Period, a Weighted Average Principal Receivables balance is used. The weighted average is calculated using the Beginning of Period Principal Receivables balance for the number of days up to the Account Addition or Removal Date. The balance is reset to the Beginning Principal Receivables balance on the Account Addition or Removal Date plus the Principal Receivables balance for the Addition or Removal. This balance is used for the remaining days in the Monthly Period. The sum of the Principal Receivables are then divided by the days in the Monthly Period to calculate the average. |
| VII. |
Information Regarding the Current Distribution to Noteholders |
|
Tranche |
Fixed/Floating |
Variable Index |
Variable Index Rate |
Note Interest Rate |
Interest Distribution |
Principal Distribution |
Total Distribution | |||||||||||||||
|
Class A |
||||||||||||||||||||||
|
A2024-1 |
Fixed | N/A | N/A | 4.94 | % | $ | 5,145,833.33 | $ | 0.00 | $ | 5,145,833.33 | |||||||||||
|
A2024-2 |
Fixed | N/A | N/A | 4.29 | % | $ | 2,502,500.00 | $ | 0.00 | $ | 2,502,500.00 | |||||||||||
|
Total |
$ | 7,648,333.33 | $ | 0.00 | $ | 7,648,333.33 | ||||||||||||||||
|
Class B |
||||||||||||||||||||||
|
B2024-1 |
Fixed | N/A | N/A | 5.27 | % | $ | 1,646,875.00 | $ | 0.00 | $ | 1,646,875.00 | |||||||||||
|
Total |
$ | 1,646,875.00 | $ | 0.00 | $ | 1,646,875.00 | ||||||||||||||||
|
Class C |
||||||||||||||||||||||
|
C2024-1 |
Fixed | N/A | N/A | 5.81 | % | $ | 1,180,156.25 | $ | 0.00 | $ | 1,180,156.25 | |||||||||||
|
Total |
$ | 1,180,156.25 | $ | 0.00 | $ | 1,180,156.25 | ||||||||||||||||
|
Class D |
||||||||||||||||||||||
|
D2024-1 |
Fixed | N/A | N/A | 7.51 | % | $ | 821,406.25 | $ | 0.00 | $ | 821,406.25 | |||||||||||
|
Total |
$ | 821,406.25 | $ | 0.00 | $ | 821,406.25 | ||||||||||||||||
|
Total |
4.95 | % | $ | 11,296,770.83 | $ | 0.00 | $ | 11,296,770.83 |
Page 4 of 10
| VIII. |
Information Regarding the Tranches of Notes of the WFCardSeries |
A. Principal Amounts as of the Distribution Date
|
Tranche |
Initial Dollar Principal Amount |
Outstanding Dollar Principal Amount |
Adjusted Outstanding Dollar Principal Amount |
Expected Principal Payment Date |
Legal Final Maturity Date |
|||||||||||||||
|
Class A |
||||||||||||||||||||
|
A2024-1 |
$ | 1,250,000,000.00 | $ | 1,250,000,000.00 | $ | 1,250,000,000.00 | 02/16/2027 | 02/15/2029 | ||||||||||||
|
A2024-2 |
$ | 1,000,000,000.00 | $ | 1,000,000,000.00 | $ | 1,000,000,000.00 | 10/15/2027 | 10/15/2029 | ||||||||||||
|
Total |
$ | 2,250,000,000.00 | $ | 2,250,000,000.00 | $ | 2,250,000,000.00 | ||||||||||||||
|
Class B |
||||||||||||||||||||
|
B2024-1 |
$ | 375,000,000.00 | $ | 375,000,000.00 | $ | 375,000,000.00 | 01/15/2031 | 01/18/2033 | ||||||||||||
|
Total |
$ | 375,000,000.00 | $ | 375,000,000.00 | $ | 375,000,000.00 | ||||||||||||||
|
Class C |
||||||||||||||||||||
|
C2024-1 |
$ | 243,750,000.00 | $ | 243,750,000.00 | $ | 243,750,000.00 | 01/15/2031 | 01/18/2033 | ||||||||||||
|
Total |
$ | 243,750,000.00 | $ | 243,750,000.00 | $ | 243,750,000.00 | ||||||||||||||
|
Class D |
||||||||||||||||||||
|
D2024-1 |
$ | 131,250,000.00 | $ | 131,250,000.00 | $ | 131,250,000.00 | 01/15/2031 | 01/18/2033 | ||||||||||||
|
Total |
$ | 131,250,000.00 | $ | 131,250,000.00 | $ | 131,250,000.00 | ||||||||||||||
|
Total |
$ | 3,000,000,000.00 | $ | 3,000,000,000.00 | $ | 3,000,000,000.00 |
Page 5 of 10
B. Nominal Liquidation Amount
|
Tranche |
Beginning Nominal Liquidation Amount |
Increases from amounts withdrawn from the Principal Funding Sub-Account in respect of Prefunding Excess Amount |
Reimbursements of prior Nominal Liquidation Amount Deficits from WFCardSeries Available Funds |
Increase due to additional notes issued |
Reductions due to reallocations of WFCardSeries Available Principal Amounts |
Investor Charge-Offs |
Reductions due to amounts deposited to the Principal Funding Sub-Account |
Ending Nominal Liquidation Amount |
||||||||||||||||||||||||
|
Class A |
||||||||||||||||||||||||||||||||
|
A2024-1 |
$ | 1,250,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,250,000,000.00 | ||||||||||||||||
|
A2024-2 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,000,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,000,000,000.00 | ||||||||||||||||
|
Total |
$ | 1,250,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 1,000,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 2,250,000,000.00 | ||||||||||||||||
|
Class B |
||||||||||||||||||||||||||||||||
|
B2024-1 |
$ | 375,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 375,000,000.00 | ||||||||||||||||
|
Total |
$ | 375,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 375,000,000.00 | ||||||||||||||||
|
Class C |
||||||||||||||||||||||||||||||||
|
C2024-1 |
$ | 243,750,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 243,750,000.00 | ||||||||||||||||
|
Total |
$ | 243,750,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 243,750,000.00 | ||||||||||||||||
|
Class D |
||||||||||||||||||||||||||||||||
|
D2024-1 |
$ | 131,250,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 131,250,000.00 | ||||||||||||||||
|
Total |
$ | 131,250,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 131,250,000.00 | ||||||||||||||||
|
Total |
$ | 2,000,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 1,000,000,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 3,000,000,000.00 |
Page 6 of 10
C. Interest Funding Sub-Accounts
| Beginning | Ending | |||||||||||||||||||||||||||||||||||
| balance | Note | Interest | balance | |||||||||||||||||||||||||||||||||
| Interest | Interest | Previous | Amount | Funding | Interest | |||||||||||||||||||||||||||||||
| Funding | accrued during | shortfall of | Actual | withdrawn for | Sub- | Funding | ||||||||||||||||||||||||||||||
| Sub-Account | the current | targeted | Targeted | deposit on | distribution to | Other | Account | Sub-Account | ||||||||||||||||||||||||||||
|
Tranche |
Balances | Interest Period | deposit | deposit | Transfer Date | Noteholders | Withdrawals | Earnings | Balances | |||||||||||||||||||||||||||
|
Class A |
||||||||||||||||||||||||||||||||||||
|
A2024-1 |
$ | 0.00 | $ | 5,145,833.33 | $ | 0.00 | $ | 5,145,833.33 | $ | 5,145,833.33 | $ | 5,145,833.33 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
A2024-2 |
$ | 0.00 | $ | 2,502,500.00 | $ | 0.00 | $ | 2,502,500.00 | $ | 2,502,500.00 | $ | 2,502,500.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Total |
$ | 0.00 | $ | 7,648,333.33 | $ | 0.00 | $ | 7,648,333.33 | $ | 7,648,333.33 | $ | 7,648,333.33 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Class B |
||||||||||||||||||||||||||||||||||||
|
B2024-1 |
$ | 0.00 | $ | 1,646,875.00 | $ | 0.00 | $ | 1,646,875.00 | $ | 1,646,875.00 | $ | 1,646,875.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Total |
$ | 0.00 | $ | 1,646,875.00 | $ | 0.00 | $ | 1,646,875.00 | $ | 1,646,875.00 | $ | 1,646,875.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Class C |
||||||||||||||||||||||||||||||||||||
|
C2024-1 |
$ | 0.00 | $ | 1,180,156.25 | $ | 0.00 | $ | 1,180,156.25 | $ | 1,180,156.25 | $ | 1,180,156.25 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Total |
$ | 0.00 | $ | 1,180,156.25 | $ | 0.00 | $ | 1,180,156.25 | $ | 1,180,156.25 | $ | 1,180,156.25 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Class D |
||||||||||||||||||||||||||||||||||||
|
D2024-1 |
$ | 0.00 | $ | 821,406.25 | $ | 0.00 | $ | 821,406.25 | $ | 821,406.25 | $ | 821,406.25 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Total |
$ | 0.00 | $ | 821,406.25 | $ | 0.00 | $ | 821,406.25 | $ | 821,406.25 | $ | 821,406.25 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Total |
$ | 0.00 | $ | 11,296,770.83 | $ | 0.00 | $ | 11,296,770.83 | $ | 11,296,770.83 | $ | 11,296,770.83 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
D. Accumulation Reserve Sub-Accounts
| Beginning | Amount | |||||||||||||||||||||||||||
| balance | withdrawn to | Ending balance | ||||||||||||||||||||||||||
| Accumulation | Accumulation | cover PFA | Accumulation | |||||||||||||||||||||||||
| Reserve | Reserve | Actual deposit | Accumulation | Withdrawal | Reserve | |||||||||||||||||||||||
| Sub-Account | Sub-Account | Targeted | on the Transfer | Earnings | of excess | Sub-Account | ||||||||||||||||||||||
|
Tranche |
Balances | Earnings | deposit | Date | Shortfall | amounts | Balances | |||||||||||||||||||||
|
Class A |
||||||||||||||||||||||||||||
|
A2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
A2024-2 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Class B |
||||||||||||||||||||||||||||
|
B2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Class C |
||||||||||||||||||||||||||||
|
C2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Class D |
||||||||||||||||||||||||||||
|
D2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
Page 7 of 10
E. Principal Funding Sub-Accounts
| Beginning | ||||||||||||||||||||||||||||||||
| balance | ||||||||||||||||||||||||||||||||
| Principal | Previous | Actual | Amount | Principal | Ending balance | |||||||||||||||||||||||||||
| Funding | shortfall of | deposit on | withdrawn for | Funding | Principal Funding | |||||||||||||||||||||||||||
| Sub-Account | targeted | Targeted | Transfer | distribution to | Other | Sub-Account | Sub-Account | |||||||||||||||||||||||||
|
Tranche |
Balances | deposit | deposit | Date | Noteholders | Withdrawals | Earnings | Balances | ||||||||||||||||||||||||
|
Class A |
||||||||||||||||||||||||||||||||
|
A2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
A2024-2 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Class B |
||||||||||||||||||||||||||||||||
|
B2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Class C |
||||||||||||||||||||||||||||||||
|
C2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Class D |
||||||||||||||||||||||||||||||||
|
D2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Total |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
F. Class C Reserve Sub-Accounts
| Beginning | ||||||||||||||||||||||||||||||||
| balance | Class C | Ending balance | ||||||||||||||||||||||||||||||
| Class C | Reserve Issuer | Class C | Amount | Class C | ||||||||||||||||||||||||||||
| Reserve | Deposit Due to | Reserve | Actual | withdrawn for | Withdrawal | Reserve | ||||||||||||||||||||||||||
| Sub-Account | New Tranche | Sub-Account | Targeted | deposit on | application to | of excess | Sub-Account | |||||||||||||||||||||||||
|
Tranche |
Balances | Issuance | Earnings | deposit | Transfer Date | Class C Notes | amounts | Balances | ||||||||||||||||||||||||
|
C2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Total |
$ | 0.00 | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
G. Class D Reserve Sub-Accounts
| Beginning | ||||||||||||||||||||||||||||||||
| balance | Class D | Ending balance | ||||||||||||||||||||||||||||||
| Class D | Reserve Issuer | Class D | Amount | Class D | ||||||||||||||||||||||||||||
| Reserve | Deposit Due to | Reserve | Actual | withdrawn for | Withdrawal | Reserve | ||||||||||||||||||||||||||
| Sub-Account | New Tranche | Sub-Account | Targeted | deposit on | application to | of excess | Sub-Account | |||||||||||||||||||||||||
|
Tranche |
Balances | Issuance | Earnings | deposit | Transfer Date | Class D Notes | amounts | Balances | ||||||||||||||||||||||||
|
D2024-1 |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||
|
Total |
$ | 0.00 | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
Page 8 of 10
H. Class A Unused Subordinated Amount; Class A Usage of Class B, Class C, and Class D Subordinated Amounts
| Class A | Class A | Class A | ||||||||||||||||||||||||||||||||||
| Class A | Class A | Class A | Class A | Class A | Class A | Cumulative | Cumulative | Cumulative | ||||||||||||||||||||||||||||
| Required | Required | Required | Unused | Unused | Unused | Usage of | Usage of | Usage of | ||||||||||||||||||||||||||||
| Subordinated | Subordinated | Subordinated | Subordinated | Subordinated | Subordinated | Class B | Class C | Class D | ||||||||||||||||||||||||||||
| Amount of | Amount of | Amount of | Amount of | Amount of | Amount of | Subordinated | Subordinated | Subordinated | ||||||||||||||||||||||||||||
|
Tranche |
Class B Notes | Class C Notes | Class D Notes | Class B Notes | Class C Notes | Class D Notes | Amount | Amount | Amount | |||||||||||||||||||||||||||
|
A2024-1 |
$ | 156,250,000.00 | $ | 101,562,500.00 | $ | 54,687,500.00 | $ | 156,250,000.00 | $ | 101,562,500.00 | $ | 54,687,500.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
A2024-2 |
$ | 125,000,000.00 | $ | 81,250,000.00 | $ | 43,750,000.00 | $ | 125,000,000.00 | $ | 81,250,000.00 | $ | 43,750,000.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
|
Total |
$ | 281,250,000.00 | $ | 182,812,500.00 | $ | 98,437,500.00 | $ | 281,250,000.00 | $ | 182,812,500.00 | $ | 98,437,500.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
I. Class B Unused Subordinated Amount; Class B Usage of Class C and Class D Subordinated Amounts
|
Tranche |
Class B Required Subordinated Amount of Class C Notes |
Class B Required Subordinated Amount of Class D Notes |
Class B Unused Subordinated Amount of Class C Notes |
Class B Unused Subordinated Amount of Class D Notes |
Class B Cumulative Usage of Class C Required Subordinated Amount |
Class B Cumulative Usage of Class D Required Subordinated Amount |
||||||||||||||||||
|
B2024-1 |
$ | 189,583,331.25 | $ | 102,083,334.38 | $ | 189,583,331.25 | $ | 102,083,334.38 | $ | 0.00 | $ | 0.00 | ||||||||||||
|
Total |
$ | 189,583,331.25 | $ | 102,083,334.38 | $ | 189,583,331.25 | $ | 102,083,334.38 | $ | 0.00 | $ | 0.00 |
J. Class C Unused Subordinated Amount; Class C Usage of Class D Subordinated Amounts
|
Tranche |
Class C Required Subordinated Amount of Class D Notes |
Class C Unused Subordinated Amount of Class D Notes |
Class C Cumulative Usage of Class D Required Subordinated Amount |
|||||||||
|
C2024-1 |
$ | 104,047,926.96 | $ | 104,047,926.96 | $ | 0.00 | ||||||
|
Total |
$ | 104,047,926.96 | $ | 104,047,926.96 | $ | 0.00 |
Page 9 of 10
|
IX. Early Redemption Events |
||
|
Is the amount of Excess Available Funds averaged over the three preceding Monthly Periods less than the Required Excess Available Funds? |
No |
|
|
Has an Early Redemption Event, or an event that with the giving of notice or other action would constitute an Early Redemption Event, occurred? |
No |
|
|
X. Investor Communication Requests |
||
|
No activity to report |
||
|
XI. Repurchase Demand Activity (Rule 15Ga-1) |
||
|
No activity to report |
||
|
Wells Fargo Bank, National Association filed its most recent Form ABS-15G with respect to WF Card Issuance Trust with the SEC on May 9, 2024. Wells Fargo Bank, National Association's Central Index Key number is 0000740906. |
||
|
XII. Asset Review |
||
|
Information required by Item 1121(d)(1) of Regulation AB concerning the Trust: |
||
|
No activity to report |
||
|
Information required by Item 1121(d)(2) of Regulation AB concerning the Trust: |
||
|
There has been no change to the Asset Representation Reviewer during the Monthly Period. |
IN WITNESS WHEREOF, the undersigned has duly executed this Monthly Noteholder's Statement as of November 12, 2024
| Wells Fargo Bank, National Association, as Servicer | ||
| By: | ||
| Name: | Cynthia K. Burns | |
| Title: | Executive Director |
Page 10 of 10