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 28, 1998

                        Commission file number: 33-82882


                      CIRCUIT CITY 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:

                  On May 31, 1995, the registrant  filed with the Securities and
Exchange  Commission a registration  statement on Form 8-A  registering  certain
Circuit City 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.

                                  Page 1 of 7

<PAGE>


            Yes   X (1)                                   No _____

                  State the  aggregate  market value of the voting stock held by
non-affiliates  of the registrant.  The aggregate market value shall be computed
by  reference  to the price at which the stock was sold,  or the average bid and
asked prices of such stock,  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 Circuit  City Credit Card Master  Trust (the  "Trust") was
formed pursuant to a Master Pooling and Servicing  Agreement dated as of October
4, 1994 (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 Bankers Trust Company, 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 consumer revolving 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),  all proceeds of the  Receivables  and proceeds of
credit insurance policies relating to the Receivables,  all monies on deposit in
certain  bank  accounts  of the Trust  (excluding  investment  earnings  on such
amounts, unless otherwise specified) 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


--------
       (1) In reliance upon various  no-action  letters issued by the Securities
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).  This Form
10-K was due May 29, 1998.

                                  Page 2 of 7

guaranty,  collateral  indebtedness amount,  collateral  interest,  surety bond,
insurance  policy,  interest rate cap agreement,  interest rate swap  agreement,
spread account,  reserve account or other similar arrangement 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 28, 1998, the Trust had four outstanding series
of Certificates.  On October 4, 1994, the Trust issued in a private  transaction
the Series 1994-1  Remarketed  Certificates  of  Participation.  On November 17,
1994,  the Trust issued in a public  transaction  the Class A 8.00% Asset Backed
Certificates,  Series  1994-2 and the Class B 8.20% Asset  Backed  Certificates,
Series 1994-2 (together,  the "1994-2 Public  Certificates").  In addition,  the
Trust  issued  in  private  transactions  as part of Series  1994-2 an  interest
referred  to as the  Collateral  Indebtedness  Interest  and a class of investor
certificates referred to as the Class D Certificates.  On September 7, 1995, the
Trust  issued  in  a  public   transaction  the  Class  A  6.375%  Asset  Backed
Certificates,  Series  1995-1 and the Class B 6.625% Asset Backed  Certificates,
Series 1995-1 (together,  the "1995-1 Public  Certificates").  In addition,  the
Trust  issued  in  private  transactions  as part of Series  1995-1 an  interest
referred  to as the  Collateral  Indebtedness  Interest  and a class of investor
certificates referred to as the Class D Certificates.  On November 27, 1996, the
Trust  issued in a public  transaction  the Class A Floating  Rate Asset  Backed
Certificates,  Series  1996-1  and  the  Class  B  Floating  Rate  Asset  Backed
Certificates,  Series 1996-1  (collectively with the 1994-2 Public  Certificates
and the 1995-1 Public Certificates, the "Public Certificates"). In addition, the
Trust  issued  in  private  transactions  as part of Series  1996-1 an  interest
referred  to as the  Collateral  Indebtedness  Interest  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  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.

                                  Page 3 of 7

Item 1.  Business.

                  Not Applicable.

Item 2.  Properties.


                  See  introductory  statement to Part I above for a description
of 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  nine
certificates registered in the name of Cede & Co., the nominee of the Depository
Trust Company ("DTC").

                  (c)      Not Applicable.


Item 6.           Selected Financial Data.

                  Not Applicable.

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

                  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.

                                  Page 4 of 7


                                    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, Seven Hanover Square, New York, New York 10004.

                  (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 28,  1998,  and 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.


                                  Page 5 of 7


                                     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 28, 1998: Current Reports on Form
8-K dated [March 17, 1997, April 15, 1997, May 15, 1997, June 16, 1997, July 15,
1997, August 14, 1997,  September 15, 1997, October 15, 1997, November 17, 1997,
December  15,  1997,  January 15,  1998,  February  16, 1998 and March 16, 1998]
reporting  Items 5 and 7(c) and providing  the Series 1994-2  Certificateholders
Statements,  the  Series  1995-1  Certificateholders  Statements  and the Series
1996-1  Certificateholders  Statements for the months of [February  1997,  March
1997, April 1997, May 1997, June 1997, July 1997,  August 1997,  September 1997,
October 1997, November 1997, December 1997, January 1998 and February 1998.]

                  (c)      Exhibits.

                  Exhibit 99.1      Annual Servicer's Certificate.


                  (d)      Financial Statement Schedules.

                           Not Applicable.


                                  Page 6 of 7
<PAGE>

                             
                                   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.


                                         CIRCUIT CITY 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 29, 1998





                                INDEX TO EXHIBITS

Exhibit                  Description
Number                   of Exhibit

99.1                       Annual Servicer's Certificate.

                                 

                                   Page 7 of 7