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EXHIBIT 10.1 - NOTE GUARANTEE INSURANCE POLICY

                           AMBAC ASSURANCE CORPORATION
                             One State Street Plaza
                               New York, NY 10004

                         NOTE GUARANTEE INSURANCE POLICY

Insured Obligations:    FNANB Credit Card Master Note Trust (the "Note Trust")
                        $423,500,000 Class A Floating Rate Asset Backed Notes,
                        Series 2003-A Policy No: AB0668BE

Effective Date:         May 29, 2003

        Ambac Assurance Corporation, a Wisconsin-domiciled stock insurance
company ("Ambac"), in consideration of the payment of the premium and subject to
the terms of this Note Guarantee Insurance Policy (this "Policy"), hereby agrees
unconditionally and irrevocably to pay to the Indenture Trustee for the benefit
of the Holders of the Insured Obligations, subject to prior presentation of a
Notice (as defined below) in accordance with the terms of this Policy, payment
of that portion of the Insured Amounts (as defined below) that are Deficiency
Amounts which shall become Due For Payment but shall be unpaid by reason of
Non-Payment and certain Preference Amounts; provided, however, that the
aggregate of all Preference Amounts (as defined below) shall be subject to the
limitations in such term; provided, further, that in no event shall the amount
payable by Ambac with respect to Insured Amounts under this Policy exceed the
Policy Amount (as defined below). Ambac's obligations under this Policy with
respect to an Insured Amount shall be discharged to the extent funds to pay such
Insured Amount are (i) deposited with the Indenture Trustee for payment to the
Holders in accordance with the Indenture, the Transfer and Servicing Agreement
or the Pooling Agreement or (ii) disbursed by Ambac as provided in this Policy
to the Indenture Trustee, for payment to the Holders, in each case, whether or
not such funds are properly applied by the Indenture Trustee or any Paying
Agent, and Ambac shall have no further obligation hereunder in respect of such
Insured Amount. Insured Payments shall be made only at the time set forth in
this Policy, and no accelerated Insured Payments shall be made regardless of any
acceleration of the Insured Obligations (including any early redemption), unless
such acceleration is at the sole option of Ambac.

        Notwithstanding the foregoing paragraph, this Policy does not cover
shortfalls, if any, attributable to the liability of the Note Trust, the
Indenture Trustee, the Trust or the Transferor for withholding taxes, if any
(including interest and penalties in respect of such liability).

        Subject to the foregoing, Ambac shall make payment to the Indenture
Trustee of any Preference Amount, if sufficient funds are not otherwise
available for payment of such disgorgement or recovery, when due to be paid
pursuant to an Order (as defined below), the later of (x) the date when due to
be paid pursuant to the Order referred to below and (y) the fifth Business Day
following receipt on a Business Day by Ambac in New York, New York of (i) a
certified copy of the final nonappealable order of a court or other governmental
body exercising competent jurisdiction ordering the recovery by a receiver,
conservator, debtor-in-possession or

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trustee in bankruptcy of a Preference Amount (an "Order"), (ii) a certificate by
or on behalf of the Holders or the Indenture Trustee that the Order has been
entered and is not subject to stay, (iii) an assignment in such form as
reasonably required by Ambac, duly executed and delivered by the Indenture
Trustee or the Holders, as applicable, irrevocably assigning to Ambac all rights
and claims of the Indenture Trustee or the Holders, as applicable, relating to
or arising under the Insured Obligations against the debtor which made such
preference payment or otherwise with respect to such Preference Amount, (iv)
appropriate instruments to effect (when executed by the affected party) the
appointment of Ambac as agent for the Indenture Trustee and the Holders in any
legal proceeding relating to such preference payment in a form satisfactory to
Ambac, and (v) a Notice appropriately completed and executed by the Indenture
Trustee; provided, that if such documents are received after 12:00 noon, New
York City time, on such Business Day, they will be deemed to be received on the
following Business Day; provided, further, that Ambac shall not be obligated to
make any payment in respect of any Preference Amount representing a payment in
respect of principal on the Insured Obligations prior to the time Ambac would
have been required to make a payment in respect of such principal pursuant to
the first paragraph hereof; provided, further, that in no event shall Ambac be
obligated to make any payment in respect of any Preference Amount to the extent
that such payment, when added to all prior payments of Insured Amounts, would
exceed the Policy Amount. Such payments shall be disbursed to the court or other
governmental body or receiver, conservator, debtor-in-possession, or trustee in
bankruptcy named in the Order on behalf of such Holders and not to any Holder or
the Indenture Trustee directly unless such Holder or the Indenture Trustee, as
applicable, has returned principal or interest paid on the Insured Obligations
to such court or other governmental body or receiver, conservator,
debtor-in-possession or trustee in bankruptcy named in such Order, in which case
such payment shall be disbursed to the Indenture Trustee on behalf of such
Holder, subject to delivery of (a) the items referred to in clauses (i) through
(v) above to Ambac and (b) evidence satisfactory to Ambac that payment has been
made to such court or other governmental body or receiver, conservator,
debtor-in-possession or trustee in bankruptcy named in such Order.

        Ambac shall pay any amounts (other than Preference Amounts) due
hereunder in immediately available funds no later than 12:00 noon, New York City
time, on the later of the Distribution Date on which the related Deficiency
Amount is due or the second Business Day following receipt in New York, New York
on a Business Day by Ambac of a Notice; provided that if such Notice is received
after 12:00 noon, New York City time, on such Business Day or a day that is not
a Business Day, it shall be deemed to be received on the following Business Day.
The terms "receipt" and "received" mean, with respect to any item to be
delivered under this Policy with respect to a claim, actual delivery to Ambac,
before 12:00 noon, New York City time, on a Business Day; delivery of any item
to be delivered under this Policy on a day that is not a Business Day or after
12:00 noon, New York City time on a Business Day, shall be deemed to be received
on the following Business Day. If any Notice, certificate, instrument or other
item given under this Policy received by Ambac is not in proper form or is not
properly completed, executed, delivered or is otherwise insufficient for the
purpose of making claim hereunder, it shall be deemed not to have been received
by Ambac for purposes of this Policy, and Ambac shall promptly so advise the
Indenture Trustee and the Indenture Trustee may submit an amended Notice,
certificate, instrument or other item.

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        Insured Payments due hereunder, unless otherwise stated herein, will be
disbursed by Ambac to the Indenture Trustee on behalf of the Holders by wire
transfer of immediately available funds in the amount of the Insured Amount
less, in respect of Insured Payments related to Preference Amounts, any amount
held by the Indenture Trustee for the payment of such Insured Payments and
legally available therefor.

        Upon any payment hereunder, Ambac shall be subrogated to the rights of
each Holder and the Indenture Trustee to receive any and all amounts due under
the Insured Obligations solely to the extent funds are available therefor under
the terms of the Indenture to the extent of any payment by Ambac under this
Policy. Once payments of the Insured Amounts have been made to the Indenture
Trustee or deposited into the Collection Account, with respect to interest, or
the Principal Funding Account, with respect to principal (including any payment
in respect of Potential Class A Charge-Offs), Ambac shall have no further
obligation hereunder in respect of such Insured Amounts.

        Ambac hereby agrees that if, as of any Distribution Date, it has become
subrogated to the rights of Holders by virtue of any previous payment under this
Policy, no recovery of such payment will occur unless the full amount of the
Holders' allocable distributions for such Distribution Date are made and solely
to the extent funds are allocated and available therefor in accordance with the
Indenture Supplement. In so doing, Ambac does not waive its rights to seek full
payment of all Insurance Policy Reimbursement Amounts owed to it, subject to the
foregoing and, with respect to the Note Trust, solely to the extent funds are
available therefor in accordance with the Indenture Supplement.

        Capitalized terms used herein and not otherwise defined herein shall
have the meanings assigned to them in the Indenture or in the Pooling Agreement
as of the Effective Date of this Policy, without regard to any amendment or
modification to the Indenture or the Pooling Agreement after such Effective Date
unless such amendment or modification has been approved in writing by Ambac.

        As used herein, the following terms shall have the following meanings:

        "Deficiency Amount" means (x) in respect of each Distribution Date, an
amount equal to the sum of (a) the amount equal to the excess, if any, of (i)
the Class A Monthly Interest payable on such Distribution Date over (ii) the
Available Funds, Shared Excess Finance Charge Collections, Reallocated Principal
Collections and amounts withdrawn from the Spread Account available to pay the
Class A Monthly Interest on such Distribution Date and (b) the Potential Class A
Charge-Off for such Distribution Date; and (y) on the Series 2003-A Termination
Date, the outstanding principal amount of the Insured Obligations as reduced by
the application of all Available Principal Collections, amounts withdrawn from
the Spread Account and amounts on deposit in the Principal Funding Account (and
all other funds available for reduction of principal on the Insured Obligations
on such Series 2003-A Termination Date); provided, however, that no payment
(other than any payment made in respect of Preference Amounts) under this Policy
with respect to any Distribution Date shall exceed the Policy Amount for such
Distribution Date.

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        "Due For Payment" means, with respect to any Insured Amount that is a
Deficiency Amount, such amount that is due and payable under the Indenture on
the related Distribution Date.

        "Holder" means each Class A Noteholder who, on the applicable date, is
entitled under the terms of the applicable Insured Obligations to payment
thereunder other than the Bank, Circuit City or any of their respective
Affiliates.

        "Indenture" means the Master Indenture dated as of July 1, 2002 (the
"Base Indenture"), between the Note Trust and JPMorgan Chase Bank, as indenture
trustee (together with any successor, the "Indenture Trustee"), as supplemented
by the Indenture Supplement dated as of May 29, 2003 (the "Indenture
Supplement"), between the Note Trust and the Indenture Trustee.

        "Insolvency Proceeding" means the commencement, after the date hereof,
of any bankruptcy, insolvency, receivership, readjustment of debt,
reorganization, marshalling of assets and liabilities or similar proceedings by
or against the Transferor, the Bank, the Certificate Trust, Circuit City or the
Note Trust, the commencement, after the date hereof, of any proceedings by or
against the Transferor, the Bank, the Certificate Trust, Circuit City or the
Note Trust for the winding up or liquidation of its affairs, or the consent,
after the date hereof, to the appointment of a trustee, conservator, receiver or
liquidator in any bankruptcy, insolvency, receivership, readjustment of debt,
reorganization, marshalling of assets and liabilities or similar proceedings of
or relating to the Transferor, the Bank, the Certificate Trust, Circuit City or
the Note Trust.

        "Insurance Policy Reimbursement Amounts" means, as to any Distribution
Date or the Series 2003-A Termination Date, the sum of (x)(i) all Insured
Payments paid by Ambac, but for which Ambac has not been reimbursed prior to
such Distribution Date or Series 2003-A Termination Date pursuant to the
Indenture Supplement, plus (ii) interest accrued on such Insured Payments not
previously repaid calculated at the Late Payment Rate from the date the
Indenture Trustee received the related Insured Payments or the date such Insured
Payments were made, and (y) without duplication (i) any amounts then due and
owing to Ambac under the Insurance Agreement plus (ii) interest on such amounts
at the Late Payment Rate.

        "Insured Amount" means (i) as of any Distribution Date or the Series
2003-A Termination Date, the Deficiency Amount and (ii) as of any Business Day,
any Preference Amount; provided, that in no event shall the amount payable by
Ambac under this Policy exceed the Policy Amount.

        "Insured Obligations" means the FNANB Credit Card Master Note Trust
$423,500,000 Class A Floating Rate Asset Backed Notes, Series 2003-A.

        "Insured Payment" means, with respect to any Distribution Date or the
Series 2003-A Termination Date, the aggregate amount paid by Ambac to the
Indenture Trustee in respect of (i) Deficiency Amounts for such Distribution
Date or the Series 2003-A Termination Date and (ii) Preference Amounts for any
given Business Day.

        "Non-Payment" means, with respect to any Distribution Date, a Deficiency
Amount which is Due For Payment but has not been paid pursuant to the Indenture.

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        "Note Trust" means the FNANB Credit Card Master Note Trust created by
the Trust Agreement.

        "Notice" means a telephonic or telegraphic notice, promptly confirmed in
writing by telecopy, substantially in the form of Exhibit A attached hereto, the
original of which is subsequently delivered by registered or certified mail from
the Indenture Trustee to Ambac specifying the Insured Amount which shall be due
and owing on the applicable Distribution Date or Business Day with respect to
Preference Amounts.

        "Policy Amount" means, with respect to any Distribution Date, the sum of
(a) the outstanding principal amount of the Insured Obligations on such
Distribution Date and (b) accrued and unpaid interest due on the Insured
Obligations at the Class A Note Rate on such Distribution Date.

        "Pooling Agreement" means the Amended and Restated Master Pooling and
Servicing Agreement dated as of December 31, 2001 among DC Funding
International, Inc., as transferor (the "Transferor"), First North American
National Bank, as servicer (the "Servicer"), and JPMorgan Chase Bank, as trustee
(together with any successor, the "Trustee") (the "Pooling and Servicing
Agreement"), as supplemented by the Collateral Series Supplement dated as of
July 19, 2002 (the "Series Supplement") among the Transferor, the Servicer and
the Trustee.

        "Potential Class A Charge Off" shall have the meaning set forth in the
Indenture Supplement.

        "Preference Amount" means any payment of principal or interest on any
Insured Obligation which has become Due for Payment, the nonpayment of which
would have been covered by the Policy, which is made to a Holder by or on behalf
of the Note Trust, which has been deemed a preferential transfer and theretofore
recovered from its Holder pursuant to any applicable bankruptcy, insolvency,
receivership or similar law in an Insolvency Proceeding.

        "Series 2003-A Termination Date" means the May 2011 Distribution Date.

        "Transfer and Servicing Agreement" means the Transfer and Servicing
Agreement dated as of July 1, 2002 among the Transferor, the Servicer and the
Note Trust.

        "Trust Agreement" means the Amended and Restated Trust Agreement dated
as of July 1, 2002 between the Transferor and Wilmington Trust Company, a
Delaware banking corporation, as owner trustee.

        "U.S. Dollar" means the lawful currency of the United States of America
as of the Closing Date.

        Any notice hereunder or service of process on Ambac may be made at the
address listed below or such other address as Ambac shall specify in writing to
the Indenture Trustee.

        The notice address of Ambac Assurance Corporation is One State Street
Plaza, New York, New York 10004, Attention: General Counsel, telephone number
(212) 668-0340 and

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facsimile number (212) 509-9190, or such other address as Ambac shall specify to
the Indenture Trustee in writing.

        This Policy is being issued under and pursuant to, and shall be
construed under, the laws of the State of New York, without giving effect to the
conflict of laws principles thereof.

        THE INSURANCE PROVIDED BY THIS POLICY IS NOT COVERED BY THE
PROPERTY/CASUALTY INSURANCE SECURITY FUND SPECIFIED IN ARTICLE 76 OF THE NEW
YORK INSURANCE LAW.

        This Policy is non-cancelable by Ambac for any reason, including failure
to receive payment of any premium due hereunder or any other amounts due under
the Insurance Agreement. The premium on this Policy is not refundable for any
reason including payment of the Insured Obligations, or provision being made for
payment thereof, prior to maturity of the Insured Obligations. This Policy does
not insure against loss of any prepayment or other acceleration payment which at
any time may become due in respect of any Insured Obligation, other than at the
sole option of Ambac, nor against any risk other than Non-Payment, including
failure of the Indenture Trustee or any Paying Agent to make any payment due
Holders of the Insured Amounts.

        For purposes of this Policy, the amount due on the Insured Obligations
at any time shall be deemed to have been reduced by the amount of any payment
made by or on behalf of the Note Trust to a Holder or to the Indenture Trustee
or any Paying Agent, which payment shall have been made in respect of the
amounts due on the Insured Obligations.

        This Policy and the obligations of Ambac hereunder shall terminate upon
the date that is one year and one day following the earlier of (a) the Series
2003-A Termination Date, and (b) the date on which all amounts required to be
paid to the Holders under the Indenture have been paid in full; provided, that,
if any Insolvency Proceeding is existing during such one year and one day
period, then this Policy and Ambac's obligations hereunder shall terminate on
the later of (i) the end of such one year and one day period and (ii) the date
of the conclusion or dismissal of such Insolvency Proceeding without continuing
jurisdiction by the court or other governmental body in such Insolvency
Proceeding, provided, further, that, notwithstanding anything herein to the
contrary, this Policy shall not terminate prior to the date on which Ambac has
made all payments required to be made under the terms of this Policy in respect
of Preference Amounts.

        This Policy sets forth in full the undertaking of Ambac and, except as
expressly provided herein, may not be modified, altered or affected by any other
agreement or instrument, including any modification or amendment thereto, and
may not be cancelled or revoked.

        No Person other than the Indenture Trustee shall be entitled to present
the Notice.

                  [Remainder of Page Intentionally Left Blank]

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        IN WITNESS WHEREOF, Ambac has caused this Policy to be executed this
29th day of May, 2003.

                                             AMBAC ASSURANCE CORPORATION

        Attest: /s/ Melissa Velie               By: /s/ Aaron T. Caine
        Title:  Assistant Secretary             Name:  Aaron T. Caine
                                                Title: Vice President

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                                    EXHIBIT A

                       TO NOTE GUARANTEE INSURANCE POLICY
                                NUMBER: AB0668BE

                  NOTICE UNDER NOTE GUARANTEE INSURANCE POLICY

Ambac Assurance Corporation
One State Street Plaza
New York, NY  10004
Attention:  General Counsel

        The undersigned individual, a duly authorized officer of JPMorgan Chase
Bank, as indenture trustee (the "Indenture Trustee"), hereby certifies to Ambac
Assurance Corporation ("Ambac"), with reference to Note Guarantee Insurance
Policy Number: AB0668BE (the "Policy") issued by Ambac in favor of the Indenture
Trustee under the Master Indenture dated as of July 1, 2002 (the "Base
Indenture"), between FNANB Credit Card Master Note Trust (the "Note Trust") and
the Indenture Trustee, as supplemented by the Indenture Supplement dated as of
May 29, 2003 (the "Indenture Supplement" and, together with the Base Indenture,
the "Indenture"), between the Note Trust and the Indenture Trustee, that:

                (i)     The Indenture Trustee is the Indenture Trustee under the
        Indenture for the Holders and the beneficiary under the Policy;

                (ii)    [ the Deficiency Amount for the [Distribution Date
        occurring on [_______________] (including the Class A Expected Final
        Payment Date)] or [the Series 2003-A Termination Date] (the "Applicable
        Distribution Date") is $[__________] (the "Deficiency Amount");]

                (iii)   the amount of previously distributed payments to Holders
        on the Insured Obligations by or on behalf of the Note Trust that are
        recoverable and sought to be recovered as a preferential transfer
        pursuant to any applicable bankruptcy, insolvency, receivership or
        similar law in an Insolvency Proceeding is $[__________] (the
        "Preference Amount");

                (iv)    the total Insured Amount due is $[___________], which
        amount equals the sum of the Deficiency Amount and the Preference
        Amount;

                (v)     the Indenture Trustee has not before made a demand for
        the Insured Amount in respect of the Applicable Distribution Date;

                (vi)    the Indenture Trustee is making a claim under and
        pursuant to the terms of the Policy for the dollar amount of the Insured
        Amount set forth in (ii) above to be

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        applied to the payment of the Deficiency Amount for the Applicable
        Distribution Date in accordance with the Indenture and for the dollar
        amount of the Insured Amount set forth in (iii) above to be applied to
        the payment of any Preference Amount;

                (vii)   the Indenture Trustee directs that payment of the
        Insured Amount be made to the following account by bank wire transfer of
        federal or other immediately available funds in accordance with the
        terms of the Policy: [INDENTURE TRUSTEE'S ACCOUNT]; and

                (viii)  the Indenture Trustee hereby agrees that, following
        receipt of any Insured Payment from Ambac, it shall (a) hold such amount
        in trust for the Holders and apply the same directly to the distribution
        of payment on the Insured Obligations when due, (b) not apply such funds
        for any other purpose, (c) deposit such funds to the Collection Account,
        with respect to interest, and the Principal Funding Account, with
        respect to principal, and not commingle such funds with other funds held
        by the Indenture Trustee and (d) maintain an accurate record of such
        payments with respect to the Insured Obligations and the corresponding
        claim on the Policy and proceeds thereof.

                (ix)    The Indenture Trustee, on behalf of the Holders, hereby
        assigns to Ambac the rights, and confirms that the Holders have assigned
        all rights of the Holders, under the Insured Obligations to the extent
        of any payment by Ambac under the Policy. The foregoing assignment is in
        addition to, and not in limitation of, rights of subrogation otherwise
        available to Ambac in respect of such payments. Payments to Ambac in
        respect of the foregoing assignment, or with respect to any subrogation
        rights, shall in all cases be (A) subordinate and junior in right of
        payment to the prior indefeasible payment in full of all amounts due the
        Indenture Trustee on behalf of the Holders and the Holders on account of
        payments due on the Insured Obligations and (B) payable only to the
        extent funds are allocated and available therefor in accordance with the
        Indenture Supplement. The Indenture Trustee shall take such action and
        deliver such instruments prepared by Ambac, at Ambac's expense, as may
        be reasonably requested or required by Ambac to effectuate the purpose
        or provisions of this clause (ix).

                Any capitalized term used in this Notice and not otherwise
        defined herein shall have the meaning assigned thereto in the Policy.

                ANY PERSON WHO KNOWINGLY AND WITH INTENT TO DEFRAUD ANY
INSURANCE COMPANY OR OTHER PERSON FILES AN APPLICATION FOR INSURANCE OR
STATEMENT OF CLAIM CONTAINING ANY MATERIALLY FALSE INFORMATION, OR CONCEALS FOR
THE PURPOSE OF MISLEADING, INFORMATION CONCERNING ANY FACT MATERIAL THERETO,
COMMITS A FRAUDULENT INSURANCE ACT, WHICH IS A CRIME, AND SHALL ALSO BE SUBJECT
TO A CIVIL PENALTY NOT TO EXCEED FIVE THOUSAND DOLLARS AND THE STATED VALUE OF
THE CLAIM FOR EACH SUCH VIOLATION.

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        IN WITNESS WHEREOF, the Indenture Trustee has executed and delivered
this Notice under the Policy as of the [__] day of [_________], [_____].

                                           JPMORGAN CHASE BANK, as Indenture
                                             Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                        Title:

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