EXHIBIT 99.1
[Letterhead of PricewaterhouseCoopers LLP]
Report of Independent Registered Public Accounting Firm
To FIA Card Services, National Association:
We have examined management's assertion included in the accompanying report by
management, titled “Report of
Management on BA Master Credit Card Trust II and BA Credit
Card Trust Internal Control”
(the “Report”), that FIA Card Services, National Association's (the
“Company”), a wholly owned subsidiary of Bank of America Corporation,
controls over functions performed as servicer of the BA Master Credit Card Trust II
(the "Master Trust"), and the BA Credit Card Trust (the "Note Trust", together with the
Master Trust, the "Trusts") as specified
in the Report, are effective, as
of June 30,
2007 in providing reasonable assurance
that the Trusts'
assets are safeguarded against loss from
unauthorized use or disposition and
the servicing of the Trusts'
assets is conducted
and recorded in conformity with the
second amended and restated BA Master Credit Card Trust II Pooling and Servicing
Agreement dated October 20, 2006 (the "PSA"), the applicable Pooling and Servicing
Agreement Supplement for each series (the
"PSA Supplements") , the second
amended and restated BA Credit Card Trust Indenture dated
October 20, 2006 (the "Indenture"), and
the amended and restated BAseries Indenture Supplement dated June 10, 2006 (the
"Indenture Supplement", together with the PSA,
PSA Supplements, and
Indenture, the "Agreements"), between the
Company and The Bank of New York (the "Trustee"), as specified in
the Report, to permit the
preparation of the required financial reports. The Company’s management is
responsible for controls over functions performed as servicer of the Trusts. Our
responsibility is to express an opinion on management’s assertion based on our
examination.
Our examination was conducted in accordance with standards of the Public Company
Accounting Oversight Board (United States) and, accordingly, included obtaining an
understanding of internal controls over the functions performed by the Company as
servicer for the Trusts, testing and evaluating the design and operating effectiveness
of internal controls, and performing such other procedures as we considered necessary
in the circumstances.
We
believe that our examination provides a reasonable basis for our opinion.
Because of inherent limitations in any internal control, misstatements due to error or
fraud may occur and not be detected. Also, projections of any evaluation of internal
control over the functions performed by the Company as servicer for the Trusts to
future periods are subject to the risk that the internal control may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
In our opinion, management’s assertion that the Company’s controls over the functions performed as servicer of the Trusts are effective as of June 30, 2007 in providing reasonable assurance that assets of the Trusts are safeguarded against loss from unauthorized use or disposition and that the servicing of the Trusts' assets is conducted and recorded in conformity with the Agreements, to permit the preparation of the required financial reports is fairly stated, in all material respects, based upon the following criteria specified in the Report:
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Funds collected are remitted to the Trustee in accordance with the Agreements. |
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Trust assets are segregated from those retained by the Company in accordance with the Agreements. |
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Expenses incurred by the Trusts are calculated and remitted in accordance with the Agreements. |
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The additions of accounts to the Trusts are authorized in accordance with the Agreements. |
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The removals of accounts from the Trusts are authorized in accordance with the Agreements. |
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Trust assets amortizing out of the Trusts are calculated in accordance with the Agreements. |
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Monthly Trust reports generated in the form of “Exhibits” and provided to the Trustee are reviewed by a Vice President or above prior to distribution. |
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Monthly Trust reports generated in the form of “Exhibits” contain all information required by the Agreements. |
/s/ PricewaterhouseCoopers LLP
Charlotte, North Carolina
August 17, 2007
August 17, 2007
Report of Management on BA Master Credit Card Trust II and BA Credit Card Trust Internal Control
FIA Card Services, National Association ("FIA" or the "Company"), a wholly owned subsidiary of Bank of America Corporation, is responsible for establishing and maintaining effective controls over the functions performed as the servicer of the BA Master Credit Card Trust II and the BA Credit Card Trust (the "Trusts" or individually, the "Trust"). These controls are designed to provide reasonable assurance to the Company's management and board of directors that the Trusts' assets are safeguarded against loss from unauthorized use or disposition, and that the servicing of the Trusts' assets was conducted in conformity with the applicable Pooling and Servicing Agreement, Pooling and Servicing Agreement Supplements, Indenture and BAseries Indenture Supplement (together the "Agreements") as specified in Appendix I, between FIA as Seller and Servicer, in the case of the Pooling and Servicing Agreement and the Pooling Agreement Supplements, or BA Credit Card Trust, in the case of the Indenture and the BAseries Indenture Supplement, and the applicable Trustee (specific Agreements and Trustees are listed in Appendix I) and are recorded properly to permit the preparation of the required financial reports.
Because of inherent limitations in any control, no matter how well-designed, misstatements due to error or fraud may occur and not be detected, including the possibility of the circumvention or overriding of controls. Accordingly, even effective controls can provide only reasonable assurance with respect to the achievement of any objectives of controls. Further, because of changes in conditions, the effectiveness of controls may vary over time.
The Company has determined that the objectives of controls with respect to servicing and reporting of Trust assets are to provide reasonable, but not absolute assurance that:
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Funds collected are remitted to the Trustee in accordance with the Agreements. |
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Trust assets are segregated from those retained by FIA in accordance with the Agreements. |
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Expenses incurred by the Trusts are calculated and remitted in accordance with the Agreements. |
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The additions of accounts to the Trusts are authorized in accordance with the Agreements. |
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The removals of accounts from the Trusts are authorized in accordance with the Agreements. |
August 17, 2007
Page 2
Trust Internal Control (continued)
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Trust assets amortizing out of the Trusts are calculated in accordance with the Agreements. |
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Monthly Trust reports generated in the form of "Exhibits" and provided to the Trustee are reviewed by a Vice President or above prior to distribution. |
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Monthly Trust reports generated in the form of "Exhibits" contain all information required by the Agreements. |
The Company assessed its controls over the functions performed as servicer of the Trusts in relation to these criteria. Based upon this assessment, the Company believes that, as of June 30, 2007, its controls over the functions performed as servicer of the Trusts are effective in providing reasonable assurance that Trust assets are safeguarded against loss from unauthorized use or disposition, and that the servicing of the Trust assets was conducted in conformity with the Agreements and recorded properly to permit the preparation of the required financial reports.
FIA Card Services, National Association by:
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/s/ Elizabeth S. Buie |
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Elizabeth S. Buie |
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Senior Vice President |
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/s/ Scott McCarthy |
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Scott McCarthy |
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Senior Vice President |
Appendix I
BA Master Credit Card Trust II
Internal Control at June 30, 2007
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ISSUANCE |
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TRUST |
DATE |
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BA Master Credit Card Trust II Series 1997-B |
2/27/1997 |
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BA Master Credit Card Trust II Series 1997-H |
8/6/1997 |
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BA Master Credit Card Trust II Series 1997-O |
12/23/1997 |
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BA Master Credit Card Trust II Series 1998-B |
4/14/1998 |
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BA Master Credit Card Trust II Series 1998-E |
8/11/1998 |
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BA Master Credit Card Trust II Series 1999-B |
3/26/1999 |
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BA Master Credit Card Trust II Series 1999-J |
9/23/1999 |
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BA Master Credit Card Trust II Series 2000-E |
6/1/2000 |
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BA Master Credit Card Trust II Series 2000-H |
8/23/2000 |
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BA Master Credit Card Trust II Series 2000-J |
10/12/2000 |
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BA Master Credit Card Trust II Series 2000-L |
12/13/2000 |
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BA Master Credit Card Trust II Series 2001-B |
3/8/2001 |
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BA Master Credit Card Trust II Series 2001-C |
4/25/2001 |
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BA Master Credit Card Trust II Series 2001-D |
5/24/2001 |
Appendix I
BA Credit Card Trust
Internal Control at June 30, 2007
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TRUST |
ISSUANCE DATE |
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Full Year |
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BASeries Class C (2001-2) |
7/12/2001 |
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BASeries Class A (2001-2) |
7/26/2001 |
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BASeries Class A (2001-Emerald) |
8/15/2001 |
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BASeries Class A (2001-5) |
11/8/2001 |
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BASeries Class C (2002-1) |
2/28/2002 |
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BASeries Class A (2002-2) |
3/27/2002 |
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BASeries Class A (2002-3) |
4/24/2002 |
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BASeries Class A (2002-5) |
5/30/2002 |
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BASeries Class C (2002-3) |
6/12/2002 |
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BASeries Class A (2002-7) |
7/25/2002 |
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BASeries Class A (2002-8) |
7/31/2002 |
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BASeries Class A (2002-9) |
7/31/2002 |
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BASeries Class C (2002-4) |
8/29/2002 |
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BASeries Class A (2002-10) |
9/19/2002 |
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BASeries Class B (2002-4) |
10/29/2002 |
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BASeries Class C (2002-6) |
10/29/2002 |
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BASeries Class C (2002-7) |
10/29/2002 |
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BASeries Class A (2002-11) |
10/30/2002 |
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BASeries Class A (2002-13) |
12/18/2002 |
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BASeries Class C (2003-1) |
2/4/2003 |
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BASeries Class C (2003-2) |
2/12/2003 |
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BASeries Class B (2003-1) |
2/20/2003 |
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BASeries Class A (2003-1) |
2/27/2003 |
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BASeries Class A (2003-3) |
4/10/2003 |
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BASeries Class A (2003-4) |
4/24/2003 |
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BASeries Class C (2003-3) |
5/8/2003 |
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BASeries Class A (2003-5) |
5/21/2003 |
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BASeries Class A (2003-6) |
6/4/2003 |
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BASeries Class B (2003-2) |
6/12/2003 |
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BASeries Class C (2003-4) |
6/19/2003 |
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BASeries Class C (2003-5) |
7/2/2003 |
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BASeries Class A (2003-7) |
7/8/2003 |
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BASeries Class C (2003-6) |
7/30/2003 |
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BASeries Class A (2003-8) |
8/5/2003 |
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BASeries Class B (2003-3) |
8/20/2003 |
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BASeries Class A (2003-9) |
9/24/2003 |
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BASeries Class B (2003-5) |
10/2/2003 |
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BASeries Class A (2003-10) |
10/15/2003 |
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BASeries Class B (2003-4) |
10/15/2003 |
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BASeries Class C (2003-7) |
11/5/2003 |
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BASeries Class A (2003-11) |
11/6/2003 |
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BASeries Class A (2003-12) |
12/18/2003 |
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BASeries Class A (2004-2) |
2/25/2004 |
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BASeries Class A (2004-1) |
2/26/2004 |
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BASeries Class C (2004-1) |
3/16/2004 |
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BASeries Class A (2004-3) |
3/17/2004 |
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BASeries Class B (2004-1) |
4/1/2004 |
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BASeries Class A (2004-5) |
5/25/2004 |
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BASeries Class A (2004-6) |
6/17/2004 |
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BASeries Class C (2004-2) |
7/1/2004 |
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BASeries Class A (2004-7) |
7/28/2004 |
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BASeries Class B (2004-2) |
8/11/2004 |
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BASeries Class A (2004-8) |
9/14/2004 |
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BASeries Class A (2004-9) |
10/1/2004 |
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BASeries Class A (2004-10) |
10/27/2004 |
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BASeries Class A (2005-1) |
4/20/2005 |
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BASeries Class A (2005-2) |
5/19/2005 |
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BASeries Class C (2005-1) |
6/1/2005 |
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BASeries Class A (2005-3) |
6/14/2005 |
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BASeries Class B (2005-1) |
6/22/2005 |
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BASeries Class A (2005-4) |
7/7/2005 |
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BASeries Class A (2005-5) |
8/11/2005 |
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BASeries Class B (2005-2) |
8/11/2005 |
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BASeries Class A (2005-6) |
8/25/2005 |
Appendix I
BA Credit Card Trust
Internal Control at June 30, 2007
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BASeries Class C (2005-2) |
9/22/2005 |
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BASeries Class A (2005-7) |
9/29/2005 |
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BASeries Class A (2005-8) |
10/12/2005 |
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BASeries Class C (2005-3) |
10/20/2005 |
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BASeries Class B (2005-4) |
11/2/2005 |
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BASeries Class B (2005-3) |
11/9/2005 |
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BASeries Class A (2005-9) |
11/17/2005 |
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BASeries Class A (2005-10) |
11/29/2005 |
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BASeries Class A (2005-11) |
12/16/2005 |
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BASeries Class A (2006-1) |
2/15/2006 |
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BASeries Class C (2006-1) |
2/17/2006 |
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BASeries Class B (2006-1) |
3/3/2006 |
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BASeries Class A (2006-2) |
3/7/2006 |
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BASeries Class C (2006-2) |
3/17/2006 |
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BASeries Class B (2006-2) |
3/24/2006 |
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BASeries Class A (2006-3) |
3/30/2006 |
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BASeries Class A (2006-4) |
5/31/2006 |
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BASeries Class C (2006-3) |
5/31/2006 |
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BASeries Class A (2006-5) |
6/9/2006 |
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BASeries Class C (2006-4) |
6/15/2006 |
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New issuances |
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BASeries Class A (2006-6) |
7/20/2006 |
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BASeries Class A (2006-7) |
7/28/2006 |
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BASeries Class A (2006-8) |
8/9/2006 |
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BASeries Class C (2006-5) |
8/15/2006 |
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BASeries Class B (2006-3) |
8/22/2006 |
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BASeries Class A (2006-9) |
8/30/2006 |
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BASeries Class A (2006-10) |
9/19/2006 |
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BASeries Class A (2006-11) |
9/26/2006 |
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BASeries Class C (2006-6) |
9/29/2006 |
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BASeries Class A (2006-12) |
10/16/2006 |
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BASeries Class C (2006-7) |
10/16/2006 |
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BASeries Class B (2006-4) |
11/14/2006 |
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BASeries Class A (2006-13) |
11/14/2006 |
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BASeries Class A (2006-14) |
11/28/2006 |
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BASeries Class A (2006-15) |
12/13/2006 |
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BASeries Class A (2006-16) |
12/19/2006 |
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BASeries Class A (2007-1) |
1/18/2007 |
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BASeries Class B (2007-1) |
1/26/2007 |
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BASeries Class C (2007-1) |
1/26/2007 |
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BASeries Class B (2007-2) |
1/31/2007 |
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BASeries Class A (2007-2) |
2/16/2007 |
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BASeries Class A (2007-3) |
3/20/2007 |
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BASeries Class A (2007-4) |
3/20/2007 |
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BASeries Class A (2007-5) |
3/20/2007 |
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BASeries Class B (2007-3) |
3/30/2007 |
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BASeries Class A (2007-6) |
4/12/2007 |
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BASeries Class B (2007-4) |
5/15/2007 |
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BASeries Class C (2007-2) |
5/15/2007 |
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BASeries Class A (2007-7) |
5/16/2007 |
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BASeries Class A (2007-8) |
6/22/2007 |
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BASeries Class B(2007-4) re-opening |
6/22/2007 |