UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-K


                  Annual Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

For the fiscal year ended: February 29, 2000

Commission file number:  333-32591


                         FNANB CREDIT CARD MASTER TRUST
             (Exact name of registrant as specified in its charter)


      United States                                          58-1897792
    -----------------                                      --------------
     (State or other                                       (IRS Employer
      jurisdiction                                       Identification No.)
    of incorporation)

 225 Chastain Meadows Court, Kennesaw, Georgia                 30144
-----------------------------------------------               -------
   (Address of principal executive offices)                 (Zip Code)

        Registrant's telephone number, including area code: 770 792-4600

        Securities registered pursuant to Section 12(b) of the Act: None

        Securities registered pursuant to Section 12(g) of the Act: None

         On June 26, 1998 and January 15, 1999,  the  registrant  filed with the
Securities  and  Exchange  Commission   registration   statements  on  Form  8-A
registering certain FNANB Credit Card Master Trust asset backed certificates.

         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] 1                                  No [ ]

--------
     1 In reliance upon various  no-action  letters issued by the Securities and
Exchange  Commission  to other  trusts  which are  substantially  similar to the
registrant,  the  registrant  has filed monthly Forms 8-K in lieu of Forms 10-Q.
See, e.g., Banc One Credit Card Master Trust (avail. May 26, 1995).


         State the aggregate  market value of the voting and  non-voting  common
equity held by  non-affiliates  of the  registrant.  The aggregate  market value
shall be computed by reference to the price at which the common equity was sold,
or the average bid and asked  prices of such  common  equity,  as of a specified
date within 60 days prior to the date of filing. (See definition of affiliate in
Rule 405)

         Not Applicable.

                                     PART I
                                     ------

         The FNANB Credit Card Master Trust (the "Trust") was formed pursuant to
a Master  Pooling  and  Servicing  Agreement  dated as of October 30,  1997,  as
amended (the "Pooling and Servicing  Agreement"),  between First North  American
National Bank, as Transferor (in such capacity,  the  "Transferor") and Servicer
(in such capacity,  the  "Servicer"),  and First Union National Bank, as Trustee
(the "Trustee"). The Trust was created as a master trust under which one or more
series of asset backed certificates (the  "Certificates")  evidencing  undivided
interests in certain assets of the Trust have been or will be issued pursuant to
a series supplement to the Pooling and Servicing Agreement.

         The assets of the Trust (the "Trust Assets")  include  receivables (the
"Receivables")  arising under certain  MasterCard  and VISA credit card accounts
(the  "Accounts")  owned or acquired by the  Transferor and all monies due or to
become due in payment of the  Receivables  (including  recoveries on charged-off
Receivables),  certain interchange fees received by the Transferor in connection
with the  Receivables,  all monies on deposit in certain  bank  accounts  of the
Trust  (including,  to the extent  specified in the related  series  supplement,
investment  earnings on such  amounts),  all proceeds of the foregoing and, with
respect to a particular  series or class of Certificates,  any letter of credit,
guaranteed rate agreement,  maturity guaranty facility, liquidity facility, cash
collateral account,  cash collateral guaranty,  collateral  indebtedness amount,
collateral  interest,  surety bond,  insurance policy,  interest rate protection
agreement,   tax  protection   agreement,   spread  account,   reserve  account,
subordination  arrangement,  cross-support  feature or other similar arrangement
(or any  combination  of the  foregoing)  for the  benefit of the holders of the
Certificates of such series or class.  The Trust will not engage in any activity
other than  acquiring  and  holding  Receivables,  issuing one or more series of
Certificates and any related interest in the Trust and one or more  certificates
evidencing the Transferor's  interest in the Trust,  making payments thereon and
engaging in related activities.  The Trustee holds the Trust Assets in trust for
the benefit of the holders of the  Certificates,  and the Servicer  services the
Receivables.


         As of February  29,  2000,  the Trust had three  outstanding  series of
Certificates. On October 30, 1997, the Trust issued in a private transaction the
Series 1997-1  Variable  Funding  Certificates.  On November 19, 1997, the Trust
issued  in  a  public  transaction  the  Class  A  Floating  Rate  Asset  Backed
Certificates,  Series  1997-2  and  the  Class  B  Floating  Rate  Asset  Backed
Certificates,  Series 1997-2 (together,  the "1997-2 Public  Certificates").  In
addition,  the Trust issued in private  transactions as part of Series 1997-2 an
interest  referred to as the  Collateral  Indebtedness  Interest  and a class of
investor certificates  referred to as the Class D Certificates.  On November 13,
1998, the Trust issued in a public  transaction  the Class A Floating Rate Asset
Backed  Certificates,  Series  1998-1 and the Class B Floating Rate Asset Backed
Certificates,  Series 1998-1  (collectively with the 1997-2 Public Certificates,
the  "Public   Certificates").   In  addition,   the  Trust  issued  in  private
transactions   as  part  of  Series   1998-1   interests   referred  to  as  the
Collateralized Trust Obligations and a class of investor  certificates  referred
to as the Class D Certificates. The Trust may issue from time to time additional
series of Certificates evidencing undivided interests in the Trust Assets.

          The  registrant  has prepared  this Form 10-K in reliance upon various
no-action  letters  issued by the  Securities  and Exchange  Commission to other
trusts which are substantially  similar to the Trust. See, e.g., Banc One Credit
Card  Master  Trust  (avail.  May 26,  1995).  Items  designated  herein as "Not
Applicable" have been omitted as a result of such reliance.

Item 1.  Business.
         --------

         Not Applicable.

Item 2.  Properties.
         ----------

         See  introductory  statement to Part I above for a  description  of the
Trust Assets.

Item 3.  Legal Proceedings.
         -----------------

         To the best knowledge of the registrant,  there are no material pending
legal proceedings involving the Trust, the Servicer or the Trustee.

Item 4.  Submission of Matters to a Vote of Security Holders.
         ---------------------------------------------------

         None.


                                     PART II
                                     -------

Item 5.  Market for Registrant's Common Equity and Related Stockholder Matters.
         ---------------------------------------------------------------------

         (a)   To the best knowledge of the registrant,  there is no established
public trading market for the Certificates.


         (b)   The Public  Certificates  are  represented  by five  certificates
registered  in the  name of Cede & Co.,  the  nominee  of The  Depository  Trust
Company ("DTC").


Item 6.  Selected Financial Data.
         -----------------------

         Not Applicable.

Item 7.  Management's Discussion and Analysis of Financial Condition and Results
         -----------------------------------------------------------------------
         of Operation.
         ------------

         Not Applicable.

Item 7a. Quantitative and Qualitative Disclosures About Market
         -----------------------------------------------------
         Risk
         ----

         Not Applicable.

Item 8.  Financial Statements and Supplementary Data.
         -------------------------------------------

         Not Applicable.

Item 9.  Changes  in  and  Disagreements  With  Accountants  on  Accounting  and
         -----------------------------------------------------------------------
         Financial Disclosure.
         --------------------

         None.


                                    PART III
                                    --------


Item 10. Directors and Executive Officers of the Registrant.
         --------------------------------------------------

         Not Applicable.

Item 11. Executive Compensation.
         ----------------------

         Not Applicable.

Item 12. Security Ownership of Certain Beneficial Owners and Management.
         --------------------------------------------------------------

         (a)   The Public  Certificates  are  represented  by nine  certificates
registered in the name of Cede & Co., and an investor holding an interest in the
Trust is not entitled to receive a certificate representing such interest except
in certain limited circumstances.  Accordingly, Cede & Co. is the sole holder of
record of the Public Certificates, which it holds on behalf of brokers, dealers,
banks and other direct  participants in the DTC system. Such direct participants
may hold Public Certificates for their own accounts or for the accounts of their
customers.  The address of Cede & Co. is c/o The Depository  Trust  Company,  55
Water Street, New York, New York 10041.

         (b)   Not Applicable.

         (c)   Not Applicable.


Item 13. Certain Relationships and Related Transactions.
         ----------------------------------------------

         (a)   To  the  best  knowledge  of  the   registrant,   there  were  no
transactions,  or series of similar  transactions,  during the fiscal year ended
February 29, 2000, and there are no currently proposed  transactions,  or series
of similar  transactions,  to which the Trust was or is to be a party,  in which
the  amount  involved  exceeds  $60,000  and in which  any  person  known to the
registrant  to own of  record or  beneficially  more  than  5.00% of the  Public
Certificates had, or will have, a direct or indirect material interest.

         (b)   Not Applicable.

         (c)   Not Applicable.

         (d)   Not Applicable



                                     PART IV

Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
         ----------------------------------------------------------------

         (a)   Documents.
               ---------

               1.   Financial Statements.

                    Not Applicable.

               2.   Financial Statement Schedules.

                    Not Applicable.

               3.   Exhibits.

                    See Item 14(c).

         (b)   Reports on Form 8-K.
               -------------------

         The  registrant  filed the following  Current  Reports on Form 8-K with
respect to the fiscal year ended February 29, 2000:  Current Reports on Form 8-K
dated March 15, 1999,  April 15, 1999,  May 17,  1999,  June 15, 1999,  July 15,
1999, August 16, 1999,  September 15, 1999, October 15, 1999, November 15, 1999,
December  15,  1999,  January  18,  2000,  February  15, 2000 and March 15, 2000
reporting  Items 5 and 7(c) and providing  the Series 1997-2  Certificateholders
Statements and the Series 1998-1 Certificateholders Statements for the months of
February 1999,  March 1999,  April 1999, May 1999, June 1999, July 1999,  August
1999,  September 1999, October 1999,  November 1999, December 1999, January 2000
and February 2000.

          (c)   Exhibits.
                ---------

                Exhibits 99.1  Annual Servicer's Certificate.

          (d)   Financial Statement Schedules.
                -----------------------------

                Not Applicable.






                                   SIGNATURES

                  Pursuant  to the  requirements  of  Section 13 or 15(d) of the
Securities  Exchange Act of 1934,  the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.


                                       FNANB CREDIT CARD MASTER TRUST

                                       By: FIRST NORTH AMERICAN
                                           NATIONAL BANK, as Servicer

                                       By: /s/Michael T. Chalifoux
                                           -----------------------
                                           Michael T. Chalifoux
                                           Chairman of the Board and
                                           President

Dated as of: May 17, 2000







                                INDEX TO EXHIBITS
                                -----------------


Exhibit           Description
Number            of Exhibit
------            ----------


99.1              Annual Servicer's Certificate