Exhibit 99.12

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-H

KEY PERFORMANCE FACTORS
JANUARY, 2001



Expected B Maturity 09/17/01


Blended Coupon 6.8366%



Excess Protection Level
3 Month Average 4.33%
January, 2001 6.21%
December, 2000 0.38%
November, 2000 6.39%


Cash Yield 19.82%


Investor Charge Offs 4.73%


Base Rate 8.88%


Over 30 Day Delinquency 4.88%


Seller's Interest 11.58%


Total Payment Rate 14.47%


Total Principal Balance $ 57,905,967,832.59


Investor Participation Amount $ 1,200,000,000.00


Seller Participation Amount $ 6,705,277,271.10