<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549

                                   FORM 8-K

                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                      The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)               February 15, 2001
                                                               -----------------

                     FIRST USA BANK, NATIONAL ASSOCIATION
--------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

           (As Servicer on behalf of FIRST CHICAGO MASTER TRUST II)



   Laws of the United States              0-16337              51-0269396
   -------------------------              -------              ----------
(State or other jurisdiction of  (Commission File Number)     (IRS Employer
 incorporation or organization)                           Identification Number)



201 North Walnut Street, Wilmington, Delaware                            19801
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(Address of principal executive offices)                              (Zip Code)


                          302/594-4117
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Registrant's telephone number, including area code
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Item 5.  Other Events

         The Registrant's hereby incorporated by reference the information
contained in Exhibit 28 hereto in response to this Item 5.

Item 7.  Financial Statements and Exhibits

         (c)      Exhibits

           28A.       Excess Spread Analysis

           28B.       Monthly Servicer's Certificate -
                      Floating Rate Credit Card Certificates Series 1995-M
                      Floating Rate Credit Card Certificates Series 1995-O
                      Floating Rate Asset Backed Certificates Series 1996-Q
                      Floating Rate Asset Backed Certificates Series 1996-S
                      Floating Rate Asset Backed Certificates Series 1997-U
                      Floating Rate Asset Backed Certificates Series 1998-V
                      Floating Rate Asset Backed Certificates Series 1999-W
                      Floating Rate Asset Backed Certificates Series 1999-X
                      Floating Rate Asset Backed Certificates Series 1999-Y

           28C.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Credit Card Certificates
                      Series 1995-M

           28D.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Credit Card Certificates
                      Series 1995-O

           28E.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Credit Card Certificates
                      Series 1996-Q

           28F.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Asset Backed Certificates
                      Series 1996-S

           28G.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Asset Backed Certificates
                      Series 1997-U

           28H.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Asset Backed Certificates
                      Series 1998-V

           28I.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Asset Backed Certificates
                      Series 1999-W

           28J.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Asset Backed Certificates
                      Series 1999-X

           28K.       Certificateholder's Payment Date Statement - First Chicago
                      Master Trust II Floating Rate Asset Backed Certificates
                      Series 1999-Y
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                                   SIGNATURE

         Pursuant to the requirements 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.

                                        FIRST USA BANK, NATIONAL ASSOCIATION
                                        As Servicer


                                        By: /s/ Tracie H. Klein
                                            ------------------------------------
                                            Name: Tracie H. Klein
                                            Title: First Vice President


Date: February 15, 2001
      -----------------
<PAGE>

                               INDEX TO EXHIBITS

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

        28A.      Excess Spread Analysis

        28B.      Monthly Servicer's Certificate -
                  Floating Rate Credit Card Certificates Series 1995-M
                  Floating Rate Credit Card Certificates Series 1995-O
                  Floating Rate Asset Backed Certificates Series 1996-Q
                  Floating Rate Asset Backed Certificates Series 1996-S
                  Floating Rate Asset Backed Certificates Series 1997-U
                  Floating Rate Asset Backed Certificates Series 1998-V
                  Floating Rate Asset Backed Certificates Series 1999-W
                  Floating Rate Asset Backed Certificates Series 1999-X
                  Floating Rate Asset Backed Certificates Series 1999-Y

        28C.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Credit Card Certificates Series
                  1995-M

        28D.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Credit Card Certificates Series
                  1995-O

        28E.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Credit Card Certificates Series
                  1996-Q

        28F.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Asset Backed Certificates Series
                  1996-S

        28G.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Asset Backed Certificates Series
                  1997-U

        28H.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Asset Backed Certificates Series
                  1998-V

        28I.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Asset Backed Certificates Series
                  1999-W

        28J.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Asset Backed Certificates Series
                  1999-X

        28K.      Certificateholder's Payment Date Statement - First Chicago
                  Master Trust II Floating Rate Asset Backed Certificates Series
                  1999-Y