|SECURITIES AND EXCHANGE COMMISSION                                                                                                                                                                                                                                                                                                                      
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|Washington, D.C.  20549                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                        
|FORM 10-K                                                                                                                                                                                                                                                                                                                                               
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|(Mark One)                                                                                                                                                                                                                                                                                                                                              
|[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                                                                                                                                                                                                                                                                
|For the fiscal year ended December 31, 2001                                                                                                                                                                                                                                                                                                             
|OR                                                                                                                                                                                                                                                                                                                                                      
|[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                                                                                                                                                                                                                                                            
|For the transition period from ______ to _______                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                        
|Commission File Nos. 333-58400                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                        
|HOUSEHOLD PRIVATE LABEL CREDIT CARD MASTER NOTE TRUST I                                                                                                                                                                                                                                                                                                 
|(Exact name of Registrant as specified in Department                                                                                                                                                                                                                                                                                                    
|Of the Treasury, Internal Revenue Service Form SS-4)                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                        
|HOUSEHOLD FINANCE CORPORATION                                                                                                                                                                                                                                                                                                                           
|(Servicer of the Trust)                                                                                                                                                                                                                                                                                                                                 
|(Exact name as specified in Servicer's charter)                                                                                                                                                                                                                                                                                                         
|DELAWARE(State or other jurisdiction of incorporation of Servicer)                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                        
|2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS         60070                                                                                                                                                                                                                                                                                             
|(Address of principal executive offices of Servicer)                        (Zip Code)                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                        
|Servicer's telephone number, including area code (847) 564-5000                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                        
|Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
|Yes X          No ____                                                                                                                                                                                                                                                                                                                                  
|The aggregate principal amount of the Notes held by non-affiliates of the Servicer as of December 31, 2001 was approximately $1.08 Billion.                                                                                                                                                                                                             

|INTRODUCTORY NOTE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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|HRSI Funding, Inc. II (the "Transferor") is the transferor under a Transfer and Servicing Agreement (the "Agreement") dated as of June 12, 2001 by and among the Transferor, Household Finance Corporation, as Servicer (the "Servicer") and Wilmington Trust Company, as owner trustee (the "Trustee"), as supplemented by the Series Supplements, providing for the issuance of Asset Backed Notes (the "Notes"), and is the originator of the trust called the Household Private Label Credit Card Master Note Trust I (the "Registrant" or the "Trust").     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|The Registrant has prepared this Form 10-K in reliance upon various no-action letters issued by the Securities and Exchange Commission (the "Commission") to other trusts which are substantially similar to the Trust.  Items designated herein as "Not Applicable" have been omitted as a result of this reliance.  Each Note represents an undivided interest in a pool of receivables held by the Trust.  The Notes issued, or to be issued, may be senior ("Class A Notes"), subordinated ("Class B Notes") (and/or "Class C Notes") and Transferor Note(s).
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|PART I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
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|Item 1.	Business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|Item 2.	Properties.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
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|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|Item 3.	Legal Proceedings.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|The Master Servicer is not aware of any material pending legal proceedings involving either the Registrant, the Trustee, the Seller or the Servicer with respect to the Certificates or the Registrant's property.                                                                                                                                                                                                                                                                                                                                               
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|Item 4.	Submission of Matters to a Vote of Security Holders.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|No vote or consent of the holders of the Noteholders (the "Noteholders") was solicited for any purpose during the year ended December 31, 2001.                                                                                                                                                                                                                                                                                                                                                                                                                  
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|PART II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
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|Item 5.	Market for Registrant's Common Equity and Related Stockholder Matters.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|To the best knowledge of the Servicer, there is no established public trading market for the Notes.  As of February 26, 2002, 46 Class A Noteholders and 12 Class B Noteholders, some of whom may be holding Notes  for the accounts of others.                                                                                                                                                                                                                                                                                                                  
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|Item 6.	Selected Financial Data.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|Item 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|Item 8.	Financial Statements and Supplementary Data.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|None.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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|PART III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
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|Item 10.	Directors and Executive Officers of the Registrant.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|Item 11.	Executive Compensation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|Item 12.	Security Ownership of Certain Beneficial Owners and Management.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|The Servicer is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Notes.  All Notes are held in the name of The Depository Trust Company (DTC).  The Servicer will provide, without charge, a listing of the beneficial owners as provided by DTC as of February 26, 2002.                                                                                                                                                                                                                               
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|Item 13.	Certain Relationships and Related Transactions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|None or Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
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|PART IV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
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|Item 14.	Exhibits, Financial Statement Schedules, and Reports on Form 8-K.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
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|(a)	List the following documents filed as a part of the report:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|(1)	Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|(2)	Financial Statement Schedules                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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|Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|(3)  The Servicer is obligated to prepare an Annual Statement to Noteholders for the year ended December 31, 2001, and Independent Public Accountants are required to prepare an Annual Servicing Report pertaining to the compliance of the Master Servicer with its servicing obligations pursuant to the Agreement.  Copies of said documents are or will be filed as exhibits to this Form 10-K when they are available.                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|(b)	The Registrant filed the following current reports on Form 8-K for the fourth quarter of 2001:                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Date of Reports                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|October 24, 2001, November 28, 2001 and December 26, 2001.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
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|(c)
Exhibit 99                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Exhibit 99                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|(d)  Not Applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
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|SIGNATURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Servicer has duly caused this report to be signed on behalf of the Household Private Label Credit Card Master Note Trust I by the undersigned, thereunto duly authorized.                                                                                                                                                                                                                                                                                        
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|Dated:  March 28, 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
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|Exhibit Index                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
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|Exhibit No.
99                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
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|99                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
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