Exhibit 99.1
  
EXHIBIT C to the Supplement to PSA

 
MONTHLY CERTIFICATEHOLDERS' STATEMENT
  
     
 
SERIES 2001-D
  
     
 
BA CREDIT CARD FUNDING, LLC
  
     
     
 
BA MASTER CREDIT CARD TRUST II
  
     
     
 
MONTHLY PERIOD ENDING FEBRUARY 28, 2015
  
     
     
 
The information which is required to be prepared with respect to the Transfer Date of March 13, 2015 and with respect to the performance of the Trust during the related Monthly Period is set forth below.
 
Capitalized terms used in this Statement have their respective meaning set forth in the Third Amended and Restated Pooling and Servicing Agreement.
 
Where indicated below, data presented in this Monthly Certificateholders’ Statement was produced in part by utilizing BANA’s newly implemented consolidated payment prioritization methodology as opposed to using the daily trust payment methodology in place prior to February 5, 2015.  See “February 2015 Consolidated Payment Prioritization Methodology Not Fully Comparable with Previous Payment Prioritization Methodologies” in the endnotes below for a description of BANA’s newly implemented consolidated payment prioritization methodology.
Terms and abbreviations used in this report and not otherwise defined herein have the meanings set forth in the certain program documents for the BA Master Credit Card Trust II and the BA Credit Card Trust.  Each of these agreements has been included as an exhibit to a report on Form 8-K filed by BA Credit Card Funding, LLC, the BA Master Credit Card Trust II and the BA Credit Card Trust, with the Securities and Exchange Commission ("SEC") under File Nos. 0001370238, 0000936988 and 0001128250, respectively, on October 1, 2014.
 

A.
Information Regarding the Current Monthly Distribution
         
 
1.
The amount of the current monthly distribution which constitutes Available Funds
$
214,763,324.80†
         
 
2.
The amount of the current monthly distribution which constitutes Available Investor Principal Collections
$
1,228,165,643.01†
   
 
 
 
Total
$
1,442,928,967.81†
         
B.
Information Regarding the Trust Assets
           
 
1.
Collection of Principal Receivables
           
   
(a)
The aggregate amount of Collections of Principal Receivables processed during the related Monthly Period and allocated to Series 2001-D
$
2,592,985,771.63†
           
 
2.
Collection of Finance Charge Receivables
           
   
(a)
The aggregate amount of Collections of Finance Charge Receivables (excluding Interchange) processed during the related Monthly Period and allocated to Series 2001-D
$
184,799,196.47†
           
 
3.
Principal Receivables in the Trust
           
   
(a)
The aggregate amount of Principal Receivables in the Trust as of the end of the day on the last day of the related Monthly Period
$
48,801,822,362.07†
           
   
(b)
The amount of Principal Receivables in the Trust represented by the Investor Interest of Series 2001-D as of the end of the day on the last day of the related Monthly Period
$
17,034,522,500.00
           
   
(c)
The Floating Allocation Investor Interest as of the end of the day on the last day of the related Monthly Period
$
17,034,522,500.00
           
   
(d)
The Principal Allocation Investor Interest as of the end of the day on the last day of the related Monthly Period
$
17,034,522,500.00
           
   
(e)
The Floating Investor Percentage with respect to the related Monthly Period
    
           
     
February 1, 2015  through  February 5, 2015                                                                                                           30.66%†
February 6, 2015  through  February 28, 2015                                                                                                           34.36%†
 
           
   
(f)
The Principal Investor Percentage with respect to the Monthly Period
    
           
     
February 1, 2015  through  February 5, 2015                                                                                                           30.66%†
February 6, 2015  through  February 28, 2015                                                                                                           34.36%†
 
           
   
(g)
The Class D Investor Interest as of the end of the day on the last day of the related Monthly Period
$
2,208,560,000.00
           
   
(h)
The Class D Required Investor Interest as of the end of the day on the last day of the related Monthly Period
$
2,208,560,000.00
   
 
(i)
 
The Class D Investor Interest, determined as of the close of business on the Transfer Date relating to the Monthly Period to which this Monthly Certificateholders' Statement relates,
following the application of all payments and deposits to be made on such date
 
 
$
2,208,560,000.00
   
 
(j)
 
The Class D Required Investor Interest,
determined as of the close of business on the Transfer Date relating to the Monthly Period to which this Monthly Certificateholders' Statement relates, following the application of all payments and deposits to be made on such date
$
2,208,560,000.00
           
           
 
4.
Shared Principal Collections
           
   
The aggregate amount of Shared Principal Collections Applied as Available Investor Principal Collections
$
   0.00
 
 
 
5.
 
 
The aggregate amount of Available Principal Collections for all series in Group One
$
1,228,165,643.01†
           
 
6.
Delinquent Balances
           
   
The aggregate amount of outstanding balances in the Accounts which were delinquent as of the end of the day on the last day of the related Monthly Period:
           

       
Aggregate
Account
Balance
  
Percentage
of Total
Receivables
             
 
(a)
30 -  59 days:
$
271,936,544.41
  
0.54%
             
 
(b)
60 -  89 days:
$
186,606,557.14
  
0.37%
             
 
(c)
90 - 119 days:
$
168,813,547.15
  
0.33%
             
 
(d)
120 - 149 days
$
145,357,079.19
  
0.29%
             
 
(e)
150 - 179 days:
$
168,093,706.46
  
0.33%
             
 
(f)
180 – or more days:
$
   0.00
  
0.00%
             
   
Total:
$
940,807,434.35
  
1.86%
             

 
7.
Investor Default Amount
           
   
(a)
The Aggregate Class D Investor Default Amount for the related Monthly Period
$
48,575,493.32†
           
   
(b)
The Aggregate Investor Default Amount for the related Monthly Period
$
   0.00
           
 
8.
Investor Servicing Fee
           
   
(a)
The amount of the Investor Servicing Fee payable by the Trust to the Servicer for the related Monthly Period
$
28,010,662.50
           
   
(b)
The amount of the Net Servicing Fee payable by the Trust to the Servicer for the related Monthly Period
$
17,506,664.06
           
   
(c)
The amount of the Servicer Interchange payable by the Trust to the Servicer for the related Monthly Period
$
10,503,998.44
           
 
9.
Portfolio Yield
           
   
(a)
The Portfolio Yield for the related Monthly Period
  
12.62%†
           



C.
Supplemental Information
    
           
 
1.
Collections of Trust Receivables and Payment Rates
  
           
   
(a)
The aggregate amount of Collections processed during the related Monthly Period (excluding Interchange)
$
8,230,803,754.50†
           
   
(b)
The aggregate amount of Principal Collections processed during the related Monthly Period
$
7,683,417,439.47†
           
   
(c)
Collections of Discount Option Receivables for the related Monthly Period
$
206,274.56†
           
   
(d)
The aggregate amount of Finance Charge Collections processed during the related Monthly Period (excluding Interchange and Collections of Discount Option Receivables)
$
547,180,040.47†
           
   
(e)
Collections as a percentage of prior month Principal Receivables and Finance Charge Receivables
  
15.88%†
           
   
(f)
Collections of Principal Receivables as a percentage of prior month Principal Receivables
  
14.95%†
           
 
2.
Receivables in the Trust
    
           
   
BA Master Credit Card Trust II
    
   
(a)
The aggregate amount of Receivables in the Trust as of the beginning of the related Monthly Period
$
51,836,760,863.08
           
   
(b)
The aggregate amount of Principal Receivables in the Trust as of the beginning of the related Monthly Period
$
51,395,678,099.43†
           
   
(c)
Discount Option Receivables as of the beginning of the related Monthly Period
$
1,379,818.00†
           
   
(d)
The aggregate amount of Finance Charge Receivables in the Trust as of the beginning of the related Monthly Period (excluding Discount Option Receivables)
$
439,702,945.65†
           
           
   
(e)
 
 
The aggregate amount of Receivables removed from the Trust during the related Monthly Period
$
   0.00
           
   
(f)
The aggregate amount of Principal Receivables removed from the Trust during the related Monthly Period
$
   0.00
           
   
(g)
The aggregate amount of Finance Charge Receivables removed from the Trust during the related Monthly Period
$
   0.00
           
   
(h)
The aggregate amount of Receivables added to the Trust during the related Monthly Period
$
   0.00
           
   
(i)
The aggregate amount of Principal Receivables added to the Trust during the related Monthly Period
$
   0.00
           
   
(j)
The aggregate amount of Finance Charge Receivables added to the Trust during the related Monthly Period
$
   0.00
           
   
(k)
The aggregate amount of Receivables in the Trust as of the end of the day on the last day of the related Monthly Period
$
50,672,137,793.34
           
   
(l)
The aggregate amount of Principal Receivables in the Trust as of the end of the day on the last day of the related Monthly Period
$
48,801,822,362.07†
           
   
(m)
Discount Option Receivables as of the end of the day on the last day of the related Monthly Period
$
1,169,634.32†
           
   
(n)
The aggregate amount of Finance Charge Receivables in the Trust as of the end of the day on the last day of the related Monthly Period (excluding Discount Option Receivables)
$
1,869,145,796.95†
           
   
(o)
Discounted Percentage for the related Monthly Period
  
0.00%
           
   
Transferor’s Interest
    
   
(p)
Aggregate Investor Interest for all outstanding Series of the Trust as of the end of the day on the last day of the related Monthly Period
$
17,034,522,500.00
           
   
(q)
Transferor Interest as of the end of the day on the last day of the related Monthly Period
$
31,767,299,862.07†
           
     
Series 2001-D
    
   
(r)
The amount of Principal Receivables in the Trust represented by the Investor Interest of Series 2001-D as of the end of the day on the last day of the related Monthly Period
$
17,034,522,500.00
           
   
(s)
Weighted Average Floating Allocation Investor Interest
$
16,806,397,500.00
           
 
3.
Trust Yields
    
           
   
Series 2001-D
    
   
(a)
Collections of Finance Charge Receivables (other than Interchange, Recoveries and Collections of Discount Option Receivables but including Interest Funding Account, Principal Account, and Finance Charge Account Investment Proceeds) allocated to Series 2001-D for the related Monthly Period
$
177,854,056.23†
           
   
(b)
Collections of Discount Option Receivables allocated to Series 2001-D
$
69,613.07†
           
   
(c)
Interchange allocated to Series 2001-D
$
40,467,056.92†
           
   
(d)
Recoveries allocated to Series 2001-D
$
6,876,597.02†
           
   
(e)
Total Collections of Finance Charge Receivables, Discount Option Receivables, Interchange and Recoveries (collectively, “Cash Yield”) allocated to Series 2001-D for the related Monthly Period
$
225,267,323.24†
           
   
(f)
Aggregate Class D Investor Default Amount allocated to Series 2001-D for the related Monthly Period
$
48,575,493.32†
           
   
(g)
Aggregate Investor Default Amount allocated to Series 2001-D for the related Monthly Period
$
   0.00
           
   
(h)
Cash Yield net of the Aggregate Class D Investor Default Amount and Aggregate Investor Default Amount (collectively, “Portfolio Yield”) for Series 2001-D, each for the related Monthly Period
$
176,691,829.92†
           
   
(i)
Total Cash Yield for the related Monthly Period as a percentage of Series 2001-D Weighted Average Floating Allocation Investor Interest
  
16.08%†
           
   
(j)
Total Cash Yield excluding Recoveries, each for the related Monthly Period, as a percentage of Series 2001-D Weighted Average Floating Allocation Investor Interest
  
15.59%†
           
   
(k)
Aggregate Class D Investor Default Amount for the related Monthly Period as a percentage of Series 2001-D Weighted Average Floating Allocation Investor Interest
  
3.47%†
           
   
(l)
Aggregate Class D Investor Default Amount net of Recoveries, each for the related Monthly Period, as a percentage of Series 2001-D Weighted Average Floating Allocation Investor Interest
  
2.98%†
           
   
(m)
The Portfolio Yield for the related Monthly Period as a percentage of Series 2001-D Weighted Average Floating Allocation Investor Interest
  
12.62%†
           
   
(n)
Base Rate for the related Monthly Period
  
2.38%
           
   
(o)
Excess Available Funds Percentage for the related Monthly Period
  
10.24%†
           
   
(p)
Three Month Average Excess Available Funds Percentage for the related Monthly Period
  
9.95%†
           
4.  
Repurchase Demand Activity (Rule 15Ga-1)

No Activity to Report
Most Recent Form ABS – 15G
Filed by: BA Credit Card Funding, LLC
CIK#: 0001370238
Filing Date: February 9, 2015


Endnotes to Monthly Certificateholders’ Statement.
 
† February 2015 Consolidated Payment Prioritization Methodology Not Fully Comparable with Previous Payment Prioritization Methodologies
 
This data was produced in part by utilizing BANA’s newly implemented consolidated payment prioritization methodology as opposed to only using the daily trust payment methodology previously in place.
 
Prior to February 5, 2015, BANA utilized two payment prioritization methodologies when servicing credit card accounts.  The cardholder cycle payment methodology was utilized for customer calculations such as balance subject to finance charge, finance charges billed, and statement balance reporting functions.  The daily trust payment methodology was utilized for reporting on the assets in the BA Master Credit Card Trust II portfolio.  BANA believes that those two methodologies had been utilized since approximately 1996.
 
The cardholder methodology prioritized payments to balances by the interest rate applied to the balance, then, within each rate bucket, by the type of balance, generally fees and finance charge receivable balances before principal receivable balances. This methodology ran only when an account cycled once per month, reprocessing all transactions since the last statement. Although a customer’s outstanding balance was updated daily under the cardholder methodology as transactions were posted to the system, the component balances (which define principal receivable and finance charge receivable portions) were updated only once per month at the time an account cycled.
 
The trust methodology prioritized payments by balance type, generally paying all outstanding fees and finance charge receivable balances before paying outstanding principal receivable balances. Also, the trust methodology prioritized some types of credit adjustments between principal receivable balances and finance charge receivable balances differently than did the cardholder methodology. Under the trust methodology, principal receivable and finance charge receivable balances were updated daily as an output of the daily payment allocation.
 
Effective February 5, 2015, BANA implemented a systems initiative that consolidated these methodologies into a single payment prioritization methodology. This consolidated methodology prioritizes payments and credit adjustments to balances similar to the cardholder methodology but does so on a daily basis similar to the trust methodology.
 
The two previously utilized methodologies agreed on the total outstanding balance and total payments received for each credit card account, but they varied with respect to the component principal receivable and finance charge receivable balances. This variance was primarily due to differences in the prioritization applied to payments and credit adjustments under each of the two methodologies. Due to differences in the frequency with which principal receivable and finance charge receivable balances were updated under the two methodologies, BANA is not able to precisely quantify the variance in the component principal receivable and finance charge receivable balances at any point in time.
 
Certain reported BA Master Credit Card Trust II performance and related metrics are calculated, in part, based on component principal receivable or finance charge receivable balances arising in the credit card accounts at one or more points in time and/or on the amount of collections of principal receivables or finance charge receivables received during each relevant period. These metrics include, but are not limited to, historical information presented in Annex I to each of the Issuer’s prospectuses and information included in this and prior periodic reports filed on Form 10-D. With the implementation of the consolidated methodology, BANA expects that the reported results for all such reported performance and related metrics are and will be different than would otherwise have been the case had the consolidated methodology used the same prioritization for payments and credit adjustments as was utilized by the trust methodology. However, due to systems limitations, BANA is not able to accurately quantify what the impact on these performance and related metrics was at the time of or will be after conversion to the consolidated methodology. As a result, performance and related metrics reported for the Master Trust II Portfolio for periods ending on or before January 31, 2015 are not fully comparable to the same performance and related metrics reported for the Master Trust II Portfolio for periods ending after February 4, 2015.
 

 
The two previously utilized methodologies agreed on the total outstanding balance and total payments received for each credit card account, but they varied with respect to the component principal receivable and finance charge receivable balances.  The new consolidated methodology agrees with the two previously utilized methodologies on the total outstanding balance and total payments received for each credit card account.
 

IN WITNESS WHEREOF, the undersigned has duly executed this certificate this 9th day of March, 2015.
 


 
BANK OF AMERICA, NATIONAL ASSOCIATION,
Servicer
 
    By:  /s/Joseph L. Lombardi
 
Name: Joseph L. Lombardi
 
Title: Vice President