Independent Accountants' Report on Applying Agreed-Upon
Procedures 



To Household Finance Corporation:

We have performed procedures enumerated below in items A.
and B. in conjunction with Section 3.06 of the Pooling and
Servicing Agreement, dated October 1, 1994, as amended and
supplemented (the "Agreement").

We have audited, in accordance with generally accepted
auditing standards, the consolidated financial statements of
Household Finance Corporation (the "Servicer") and
subsidiaries as of December 31, 1997, and have issued our
report thereon dated January 21, 1998.  We have not audited
any financial statements of the Servicer as of any date or
for any period subsequent to December 31, 1997, or performed
any audit procedures subsequent to the date of our report on
those statements.

In connection with our audit, nothing came to our attention
that caused us to believe that the Servicer was not in
compliance with any of the terms, covenants, provisions, or
conditions in Sections 3.01, 3.02, 3.04, 3.09, 4.02, 4.03,
4.04, 4.05, 4.06, and 8.08 (to the extent such sections are
applicable to Household Finance Corporation as Servicer) of
the Agreement, or Sections 4.08, 4.09, 4.10, 4.11, 4.12,
4.13, 4.14, and 4.15 (to the extent such sections are
applicable to Household Finance Corporation as Servicer) of
the Series 1994-1, Series 1994-2,  and Series 1997-B
Supplements in conjunction with the servicing of consumer
revolving private label credit card receivables owned by the
Household Private Label Credit Card Master Trust II insofar 
as they relate to accounting matters.  It should be noted,
however, that our audit was not directed primarily toward
obtaining knowledge of such noncompliance.

As a part of our audit, we obtained an understanding of the
Servicer's internal control structure over the Servicer's
entire consumer revolving private label credit card
portfolio, including those loans serviced under the
Agreement, and the related Supplements, to the extent
considered necessary in order to assess control risk as
required by generally accepted auditing standards. The
purpose of our consideration of the internal control
structure, which includes the accounting systems, was to
determine the nature, timing, and extent of the auditing
procedures necessary for expressing an opinion on the
financial statements. Such audit procedures, however, were
not performed in order to express a separate opinion on the
Household Private Label Credit Card Master Trust II. 

Our audit disclosed no exceptions or errors in records
relating to credit card receivables serviced by the Servicer
that, in our opinion, Section 3.06 of the Agreement required
us to report.

B.   We have performed the procedure described in the
following paragraph, which was agreed to by the management
of the Servicer, US Bank, N.A., formerly known as the First
Trust of New York as Trustee, and the Credit Enhancement
Provider (together, the "Specified Users"), with respect to
Section 3.06 of the Agreement, in conjunction with the
servicing of consumer revolving private label credit card
receivables owned by the Household Private Label Credit Card
Master Trust II.  This agreed-upon procedure was performed
in accordance with standards established by the American
Institute of Certified Public Accountants.  The sufficiency
of the procedure is solely the responsibility of the
Specified Users of the report.  Consequently, we make no
representation regarding the sufficiency of the procedure
described below either for the purpose for which this report
has been requested or for any other purpose.

       The procedure and associated findings are as follows:

       From the Monthly Servicer's Certificates prepared by
the Servicer between January, 1997 and December, 1997, we
selected the following months and performed the following:

We have compared the mathematical calculation of each amount
set forth in the Monthly Servicer's Certificates to the
Servicer's computer reports for the month of January, 1997,
for Series 1994-1,  for the month of June, 1997, for Series
1994-2, and for the month of December, 1997, for Series
1997-B and found them to be in agreement.  Our comparisons
were based on records provided to us by the Servicer and the
methodology set forth in the Agreement.

With respect to the procedure performed in item B. above, we
were not engaged to, and did not, perform an audit, the
objective of which would be the expression of an opinion on
the Monthly Servicer's Certificates described above. 
Accordingly, we do not express such an opinion.  Had we been
engaged to perform additional procedures, other matters
might have come to our attention that would have been
reported to you.

This report is intended solely for the information and use
of the Specified Users and should not be used for any other
purpose.



/s/ Arthur Andersen LLP

Chicago Illinois
March 26, 1998