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, 1996, and have issued our report thereon dated January
23, 1997.  We have not audited any financial statements of the
Servicer as of any date or for any period subsequent to December
31, 1996, 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 and Series 1994-2 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,
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, 1996 and December, 1996, 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 months of April, 1996, and October, 1996,
for Series 1994-1, and Series 1994-2 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.




Chicago Illinois
March 26, 1997