# EDGAR Filing Document

**Accession Number:** 0001658982
**File Stem:** 0001193125-25-181237
**Filing Date:** 2025-8
**Character Count:** 33760
**Document Hash:** 4936dee84d1ee4a74406bb16bd2c68d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-181237.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001193125-25-181237

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**ABS ASSET CLASS**: Credit card

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHASE ISSUANCE TRUST
- **CENTRAL INDEX KEY:** 0001174821
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 222382028
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-67076-02
- **FILM NUMBER:** 251222369

**BUSINESS ADDRESS:**
- **STREET 1:** 201 N. WALNUT ST., 4TH FLOOR
- **STREET 2:** DE1-1001
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 302-282-6545

**MAIL ADDRESS:**
- **STREET 1:** 201 N. WALNUT ST., 4TH FLOOR
- **STREET 2:** DE1-1001
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANK ONE ISSUANCE TRUST
- **DATE OF NAME CHANGE:** 20020604
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Chase Card Funding LLC
- **CENTRAL INDEX KEY:** 0001658982
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-208503
- **FILM NUMBER:** 251222370

**BUSINESS ADDRESS:**
- **STREET 1:** C/O JPMORGAN CHASE BANK, N.A.
- **STREET 2:** 201 N. WALNUT STREET, 4TH FL. DE1-1001
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 302-282-6545

**MAIL ADDRESS:**
- **STREET 1:** C/O JPMORGAN CHASE BANK, N.A.
- **STREET 2:** 201 N. WALNUT STREET, 4TH FL. DE1-1001
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 10-D** 

**ASSET-BACKED ISSUER** 

**DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**For the monthly distribution period from** 

**July 1, 2025 to July 31, 2025.** 

**Commission File Number of issuing entity: 333-272941** 

**Central Index Key Number of issuing entity: 0001174821** 

## CHASE ISSUANCE TRUST
**(Issuing Entity of the Notes)** 

**(Exact name of issuing entity as specified in its charter)** 

**Commission File Number of depositor: 333-272941-01** 

**Central Index Key Number of depositor: 0001658982** 

## CHASE CARD FUNDING LLC
**(Exact name of depositor as specified in its charter)** 

**Central Index Key Number of sponsor: 0000869090** 

## JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
**(Exact name of sponsor as specified in its charter)** 

**Patricia M. Garvey** 

**Chase Card Funding LLC** 

**201 North Walnut Street** 

**Wilmington, Delaware 19801** 

**302-282-6545** 

**(Name and telephone number, including area code, of the person to contact in connection with this filing)**

**Delaware** 

**(State or other jurisdiction of incorporation** 

**or organization of the issuing entity)** 

**N.A.** 

**(I.R.S. Employer Identification No. of the issuing entity)** 

**N.A.** 

**(I.R.S. Employer Identification No. of the depositor)** 

**13-4994650** 

**(I.R.S. Employer Identification No. of the sponsor)** 

------

---

| | |
|:---|:---|
| **CHASE ISSUANCE TRUST**<br> **c/o Chase Card Funding LLC**<br> **201 North Walnut Street**<br> **Wilmington, Delaware** | **19801**<br>|
| **(Address of principal executive offices of the issuing entity)** | **(Zip Code)** |

---

**(302) 282-6545** 

**(Telephone number, including area code)** 

**N.A.** 

**(Former name, former address, if changed since last report)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Registered/reporting pursuant to<br>(check one)**  | **Registered/reporting pursuant to<br>(check one)**  | **Registered/reporting pursuant to<br>(check one)**  | **Name of<br>exchange<br>(If Section 12(b))**  |
| <br>**Title of class** | **Section 12(b)**  | **Section 12(g)**  | **Section 15(d)**  | **Name of<br>exchange<br>(If Section 12(b))**  |
|  CHASEseries Class A Notes | ☐ | ☐ | ☒ |  |
|  CHASEseries Class B Notes | ☐ | ☐ | ☒ |  |
|  CHASEseries Class C Notes | ☐ | ☐ | ☒ |  |

---

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 ☒ No ☐

------

**PART I – DISTRIBUTION INFORMATION** 

**Item 1. Distribution and Pool Performance Information.** 

The information required by Items 1121(a) and 1121(b) of Regulation AB is provided in the distribution reports attached hereto as Exhibits 99.1, 99.2, and 99.3.

With respect to the information required by Item 1121(c) of Regulation AB, JPMorgan Chase Bank, National Association (CIK number 0000869090) has no repurchase activity to report for the monthly distribution period from July 1, 2025 to July 31, 2025 (the "Monthly Distribution Period") for Chase Issuance Trust.

**PART II – OTHER INFORMATION** 

**Item 2. Legal Proceedings.** 

The most current information or update to this item, as of the end of the Monthly Distribution Period to which this report relates, was previously reported by Chase Issuance Trust (CIK number 0001174821, SEC File Number 333-272941). See prospectus dated July 18, 2025 and filed on July 18, 2025.

**Item 3. Sales of Securities and Use of Proceeds.**

On July 25, 2025, Chase Issuance Trust issued $1,500,000,000 of Class A(2025-1) CHASEseries Notes (the "Class A(2025-1) Notes"). Information regarding the issuance and sale of the Class A(2025-1) Notes has been previously reported in the prospectus dated July 18, 2025 and filed on July 18, 2025.

**Item 7. Change in Sponsor Interest in the Securities.** 

The information required by Item 1124 of Regulation AB is provided in Item 12 of the distribution report attached hereto as Exhibit 99.2.

There has been no change in the securities held by the Sponsor and its affiliates during the Monthly Distribution Period.

**Item 10. Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| 99.1 | [Monthly Information Officer's Certificate](d66504dex991.htm) |
| 99.2 | [Asset Pool One Monthly Servicer's Certificate](d66504dex992.htm) |
| 99.3 | [CHASEseries Monthly Noteholders' Statement](d66504dex993.htm) |

---

------

**SIGNATURES** 

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.

---

| | | |
|:---|:---|:---|
|  |  | **CHASE ISSUANCE TRUST** |
|  |  | <br> (Issuing entity) |
|  Date: August 15, 2025 | By: | <br> **JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,** |
|  |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Servicer |
|  |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>**/s/ Patricia M. Garvey**</u>  |
|  |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Patricia M. Garvey |
|  |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Executive Director |

---

## Exhibit 99.1

Exhibit 99.1

CHASE ISSUANCE TRUST

Monthly Information Officer's Certificate

Monthly Period: July 2025

The undersigned is a duly authorized representative of JPMorgan Chase Bank, National Association (the "Bank"), as Servicer pursuant to the Fifth Amended and Restated Transfer and Servicing Agreement, dated as of December 16, 2024 (as amended, supplemented or otherwise modified, the "Transfer and Servicing Agreement"), by and among the Chase Card Funding LLC, as Transferor, the Bank, as Servicer and Administrator, Chase Issuance Trust, as Issuing Entity, and Computershare Trust Company, National Association, as Indenture Trustee and Collateral Agent.

The undersigned does hereby certify as follows:

Item 1121(a)(1):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Record Date: July 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest Period: July 15, 2025 through August 14, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Interest Accrual Method: 30/360

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Determination Date: August 13, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Distribution Date: August 15, 2025

---

| | |
|:---|:---|
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Servicer | JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Servicer |
| By: | /s/ Patricia M. Garvey |
|  | Name: Patricia M. Garvey |
|  | Title: Executive Director |

---

## Exhibit 99.2

Exhibit 99.2

**CHASE ISSUANCE TRUST** 

**Asset Pool One Monthly Servicer's Certificate** 

**Monthly Period: July 2025** 

1. Capitalized terms used in this certificate have their respective meanings set forth in the Fifth Amended and
Restated Indenture, dated as of December 16, 2024 (as amended, supplemented or otherwise modified, the "Indenture"), and the Fourth Amended and Restated Asset Pool One Supplement, dated as of December 16, 2024 (as amended,
supplemented or otherwise modified, the "Asset Pool One Supplement"), each by and between the Chase Issuance Trust and Computershare Trust Company, National Association, as Indenture Trustee and as Collateral Agent.

2. As of the date hereof, JPMorgan Chase Bank, National Association is the Servicer and Administrator under the
Transfer and Servicing Agreement and Chase Card Funding LLC is the Transferor.

3. The undersigned is a Responsible Officer of Servicer.

4. Collateral of Asset Pool One

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning Balance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning Balance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending Balance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending Balance |
| &nbsp;&nbsp;&nbsp;&nbsp; Principal Receivables |  | 12389321572.50 |  | 12361201434.53 |
| &nbsp;&nbsp;&nbsp;&nbsp; Excess Funding Amount |  | 0.00 |  | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL |  | 12389321572.50 |  | 12361201434.53 |

---

---

| | | | |
|:---|:---|:---|:---|
|  5a. | The Nominal Liquidation Amount of all Asset Pool One Notes as of the last day of the related Monthly Period |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHASEseries |  | 8350000000.00 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL |  | 8350000000.00 |
|  5b. | Asset Pool One Transferor Amount for the related Monthly Period |  | 4011201434.53 |
|  5c. | Asset Pool One Required Transferor Amount for the related Monthly Period |  | 618060071.73 |
|  5d. | Asset Pool One Pool Balance for the related Monthly Period |  | 12361201434.53 |
|  5e. | Asset Pool One Minimum Pool Balance for the related Monthly Period |  | 8350000000.00 |
|  6a. | The aggregate amount of Collections of Principal Receivables received by Asset Pool One for the related Monthly Period |  | 6372061375.54 |
|  6b. | The aggregate amount of Collections of Principal Receivables allocated pursuant to Section 3.3 of the Asset Pool One Supplement for the related Monthly Period |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHASEseries | 67.40% | 4294562230.42 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL | 67.40% | 4294562230.42 |
|  7a. | The aggregate amount of Collections of Finance Charge Receivables received by Asset Pool One for the related Monthly Period |  | 254776244.59 |
|  | Collections of Discount Receivables included in 7a above |  | 0.00 |
|  7b. | The aggregate amount of Collections of Finance Charge Receivables allocated pursuant to subsection 3.2(a) of the Asset Pool One Supplement for the related Monthly Period |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHASEseries | 67.40% | 171710906.84 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL | 67.40% | 171710906.84 |
|  8a. | The Asset Pool One Servicing Fee for the related Monthly Period |  | 15486651.97 |
|  8b. | The Asset Pool One Servicing Fee allocated to each Series pursuant to subsection 3.4(b) of the Asset Pool One Supplement for the related Monthly Period |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHASEseries | 67.40% | 10437500.00 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL | 67.40% | 10437500.00 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  9a. | The Asset Pool One Default Amount for the related Monthly Period |  | 15865110.50 |
|  9b. | The Asset Pool One Default Amount allocated to each Series pursuant to subsection 3.2(b) of the Asset Pool One Supplement for the related Monthly Period |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHASEseries | 67.40% | 10692568.75 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL | 67.40% | 10692568.75 |

---

10. Delinquencies as of the last day of the related Monthly Period

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | Number<br> of Accounts | Amount of<br> Receivables (1) | Percentage of<br> Receivables |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pool Balance | 6744368 | 12537786828.19 | 100.00% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of Days Delinquent |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30-59 days | 4813 | 30688932.48 | 0.24% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60-89 days | 3055 | 23279072.66 | 0.19% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90-119 days | 2144 | 17481116.36 | 0.14% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120-149 days | 2019 | 18441562.34 | 0.15% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150-179 days | 1873 | 17897042.38 | 0.14% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 or more days | <u>0</u> | <u>0.00</u> | <u>0.00%</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL | 13904 | 107787726.22 | 0.86% |
| 11. | Losses and Recoveries for the related Monthly Period | Losses and Recoveries for the related Monthly Period | Losses and Recoveries for the related Monthly Period |  |
|  | Average Pool Balance (2) |  |  | 12389321572.50 |
|  | Gross Losses (3) |  |  | 19413070.20 |
|  | Gross Losses as a Percentage of Average Pool Balance (Annualized) | Gross Losses as a Percentage of Average Pool Balance (Annualized) | Gross Losses as a Percentage of Average Pool Balance (Annualized) | 1.88% |
|  | Recoveries (4) |  |  | 3547959.70 |
|  | Net Losses (5) |  |  | 15865110.50 |
|  | Net Losses as a Percentage of Average Pool Balance (Annualized) | Net Losses as a Percentage of Average Pool Balance (Annualized) | Net Losses as a Percentage of Average Pool Balance (Annualized) | 1.54% |
|  | Number of Accounts Charged Off During the Monthly Period | Number of Accounts Charged Off During the Monthly Period | Number of Accounts Charged Off During the Monthly Period | 3563 |
|  | Average Net Loss Amount on Accounts Charged Off during the Monthly Period | Average Net Loss Amount on Accounts Charged Off during the Monthly Period | Average Net Loss Amount on Accounts Charged Off during the Monthly Period | 4452.74 |
| 12. | Change in Sponsor's or affiliate's interest in securities for the related Monthly Period | Change in Sponsor's or affiliate's interest in securities for the related Monthly Period | Change in Sponsor's or affiliate's interest in securities for the related Monthly Period |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | As of Last Day of Previous Monthly Period | As of Last Day of Previous Monthly Period | As of Last Day of Monthly Period | As of Last Day of Monthly Period |
| CHASEseries Notes Held by the Sponsor or an Affiliate (6) | Tranche | Amount | Tranche | Amount |
|  | Class B (2025-01) | 750000000.00 | Class B (2025-01) | 750000000.00 |
|  | Class C (2025-01) | 750000000.00 | Class C (2025-01) | 750000000.00 |
|  |  | 1500000000.00 |  | 1500000000.00 |

---

13. Credit Risk Retention

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of Last Day of Monthly Period |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seller's Interest | 4011201434.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seller's Interest (%) (7) | 48.04% |

---

------

(1) The amount of receivables reflected includes all principal, finance charge and fee amounts due from cardholders
as of the date specified.

(2) Average Pool Balance means "Asset Pool One Average Principal Balance" as defined in the Asset Pool
One Supplement.

(3) Gross Losses are charge-offs of principal receivables. Gross Losses do not include the amount of any reductions
in principal receivables due to fraud, returned goods or customer disputes, the amount of which instead results in the reduction of the Asset Pool One Transferor Amount.

(4) Recoveries are amounts received on previously charged-off receivables
during the related Monthly Period, and allocated to the issuing entity pro rata, based on the amount of gross losses in the issuing entity as a percentage of gross losses in the Servicer's managed portfolio of credit card receivables for the
related Monthly Period.

(5) Net Losses are Gross Losses minus Recoveries. Net Losses do not include any reductions in principal receivables
due to fraud, returned goods or customer disputes, the amount of which instead results in the reduction of the Asset Pool One Transferor Amount.

(6) The securities listed here are not being relied upon to satisfy the U.S. Risk Retention Requirements (79 FR
77601).

(7) The Seller's Interest percentage is calculated by dividing the Seller's Interest, which is equal to
the Asset Pool One Transferor Amount, by the aggregate unpaid principal balance of all outstanding investor asset-backed interests in the Issuing Entity.

The required risk retention percentage is 5%.

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate on this date August 13, 2025.

---

| |
|:---|
| JPMorgan Chase Bank, National Association, as Servicer |
| By: /s/ Patricia M. Garvey<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patricia M. Garvey |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Director |

---

## Exhibit 99.3

Exhibit 99.3

**CHASE ISSUANCE TRUST** 

**CHASEseries Monthly Noteholders' Statement** 

**Monthly Period: July 2025** 

The undersigned, a duly authorized representative of JPMorgan Chase Bank, National Association (the "Bank"), as Servicer pursuant to the Fifth Amended and Restated Transfer and Servicing Agreement, dated as of December 16, 2024 (as amended, supplemented or otherwise modified, the "Transfer and Servicing Agreement"), by and among the Chase Card Funding LLC, as Transferor, the Bank, as Servicer and Administrator, Chase Issuance Trust, as Issuing Entity, and Computershare Trust Company, National Association, as Indenture Trustee and as Collateral Agent, does hereby certify as follows:

A. Information regarding the Current Distribution to Noteholders

1. The total amount of the distribution to Noteholders on the Payment Date August 15, 2025 per $1,000 Initial
Outstanding Dollar Principal Amount

---

| | | |
|:---|:---|:---|
| Tranche | Amount | Amount |
| Class A (2022-01) |  | 3.30833 |
| Class A (2023-01) |  | 4.30000 |
| Class A (2023-02) |  | 4.23333 |
| Class A (2024-01) |  | 3.83333 |
| Class A (2024-02) |  | 3.85833 |
| Class A (2025-01) |  | 2.31111 |
| Class B (2025-01) |  | 4.09167 |
| Class C (2025-01) |  | 4.33333 |

---

2. The amount of the distribution set forth in item 1 in respect of interest on the Notes per $1,000 Initial
Outstanding Dollar Principal Amount

---

| | | |
|:---|:---|:---|
| Tranche | Amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate |
|  Class A (2022-01) | 3.30833 | 3.97000% |
|  Class A (2023-01) | 4.30000 | 5.16000% |
|  Class A (2023-02) | 4.23333 | 5.08000% |
|  Class A (2024-01) | 3.83333 | 4.60000% |
|  Class A (2024-02) | 3.85833 | 4.63000% |
|  Class A (2025-01) | 2.31111 | 4.16000% |
|  Class B (2025-01) | 4.09167 | 4.91000% |
|  Class C (2025-01) | 4.33333 | 5.20000% |

---

3. The amount of the distribution set forth in item 1 in respect of principal on the Notes per $1,000 Initial
Outstanding Dollar Principal Amount

---

| | | |
|:---|:---|:---|
| Tranche | Amount | Amount |
| Class A (2022-01) |  | 0.00000 |
| Class A (2023-01) |  | 0.00000 |
| Class A (2023-02) |  | 0.00000 |
| Class A (2024-01) |  | 0.00000 |
| Class A (2024-02) |  | 0.00000 |
| Class A (2025-01) |  | 0.00000 |
| Class B (2025-01) |  | 0.00000 |
| Class C (2025-01) |  | 0.00000 |

---

------

B. Information regarding the Tranches of Notes of the CHASEseries

1. Outstanding Dollar Principal Amount and Nominal Liquidation Amount of Tranches of Notes of the CHASEseries for
the related Monthly Period

---

| | | | | |
|:---|:---|:---|:---|:---|
| Tranche | Initial Outstanding<br>Dollar Principal<br>Amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outstanding Dollar <br>Principal Amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Outstanding <br> Dollar Principal<br> Amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nominal Liquidation <br>Amount |
|  Class A (2022-01) | 1000000000.00 | 1000000000.00 | 1000000000.00 | 1000000000.00 |
|  Class A (2023-01) | 1150000000.00 | 1150000000.00 | 1150000000.00 | 1150000000.00 |
|  Class A (2023-02) | 850000000.00 | 850000000.00 | 850000000.00 | 850000000.00 |
|  Class A (2024-01) | 1250000000.00 | 1250000000.00 | 1250000000.00 | 1250000000.00 |
|  Class A (2024-02) | 1100000000.00 | 1100000000.00 | 1100000000.00 | 1100000000.00 |
|  Class A (2025-01) | 1500000000.00 | 1500000000.00 | 1500000000.00 | 1500000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Class A | 6850000000.00 | 6850000000.00 | 6850000000.00 | 6850000000.00 |
|  Class B (2025-01) | 750000000.00 | 750000000.00 | 750000000.00 | 750000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Class B | 750000000.00 | 750000000.00 | 750000000.00 | 750000000.00 |
|  Class C (2025-01) | 750000000.00 | 750000000.00 | 750000000.00 | 750000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Class C | 750000000.00 | 750000000.00 | 750000000.00 | 750000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 8350000000.00 | 8350000000.00 | 8350000000.00 | 8350000000.00 |

---

2. Nominal Liquidation Amount of Notes of the CHASEseries

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tranche<br>| Beginning<br> Nominal<br> Liquidation<br> Amount | Increases from<br>amounts<br>withdrawn<br>from the<br>Principal<br>Funding<br>Subaccounts in<br>respect of<br>Prefunding<br>Excess<br>Amounts | Reimbursements<br>of prior<br>Nominal<br>Liquidation<br>Amount Deficits<br>from Available<br>Finance Charge<br>Collections | Reductions<br>due to<br>reallocations<br>of Available<br>Principal<br>Collections<br>and Investor<br>Charge-Offs | Reductions due<br>to amounts<br>deposited to<br>the Principal<br>Funding<br>Subaccounts | Ending Nominal<br>Liquidation Amount |
|  Class A (2022-01) | 1000000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1000000000.00 |
|  Class A (2023-01) | 1150000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1150000000.00 |
|  Class A (2023-02) | 850000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 850000000.00 |
|  Class A (2024-01) | 1250000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1250000000.00 |
|  Class A (2024-02) | 1100000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1100000000.00 |
|  Class A (2025-01) | 1500000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1500000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A | 6850000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6850000000.00 |
|  Class B (2025-01) | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
|  Class C (2025-01) | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class C | 750000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750000000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | 8350000000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8350000000.00 |

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3. CHASEseries Interest Funding Account Sub-Accounts

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Beginning<br>Interest<br>Funding<br>Subaccount<br>Balance | Targeted deposit<br>to the Interest<br>Funding<br>Subaccount with<br>respect to the<br>current period | Previous<br>shortfalls<br>of targeted<br>deposits to<br>the Interest<br>Funding<br>Subaccount | Actual deposit to<br>the Interest<br>Funding<br>Subaccount | Amount<br>withdrawn from<br>the Interest<br>Funding<br>Subaccount for<br>payment to<br>Noteholders | Other<br>Withdrawals | Ending Interest<br>Funding<br>Subaccount<br>Balance |
|  Class A (2022-01) | 0.00 | 3308333.33 | 0.00 | 3308333.33 | (3308333.33) | 0.00 | 0.00 |
|  Class A (2023-01) | 0.00 | 4945000.00 | 0.00 | 4945000.00 | (4945000.00) | 0.00 | 0.00 |
|  Class A (2023-02) | 0.00 | 3598333.33 | 0.00 | 3598333.33 | (3598333.33) | 0.00 | 0.00 |
|  Class A (2024-01) | 0.00 | 4791666.67 | 0.00 | 4791666.67 | (4791666.67) | 0.00 | 0.00 |
|  Class A (2024-02) | 0.00 | 4244166.67 | 0.00 | 4244166.67 | (4244166.67) | 0.00 | 0.00 |
|  Class A (2025-01) | 0.00 | 3466666.67 | 0.00 | 3466666.67 | (3466666.67) | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A | 0.00 | 24354166.67 | 0.00 | 24354166.67 | (24354166.67) | 0.00 | 0.00 |
|  Class B (2025-01) | 0.00 | 3068750.00 | 0.00 | 3068750.00 | (3068750.00) | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B | 0.00 | 3068750.00 | 0.00 | 3068750.00 | (3068750.00) | 0.00 | 0.00 |
|  Class C (2025-01) | 0.00 | 3250000.00 | 0.00 | 3250000.00 | (3250000.00) | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class C | 0.00 | 3250000.00 | 0.00 | 3250000.00 | (3250000.00) | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | 0.00 | 30672916.67 | 0.00 | 30672916.67 | (30672916.67) | 0.00 | 0.00 |

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4. CHASEseries Principal Funding Account Sub-Accounts

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Beginning<br>Principal<br>Funding<br>Subaccount<br>Balance | Targeted deposit to<br> the Principal Funding<br>Subaccount with<br>respect to the current<br>period | Previous<br>shortfalls of<br>targeted<br>deposits to<br>the Principal<br>Funding<br>Subaccount | Actual deposit<br>to the<br>Principal Funding<br>Subaccount | Amount withdrawn<br>from the Principal<br>Funding Subaccount<br>for payment to<br>Noteholders | Other<br>Withdrawals | Ending<br>Principal<br>Funding<br>Subaccount<br>Balance |
|  Class A (2022-01) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2023-01) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2023-02) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2024-01) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2024-02) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2025-01) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Class A | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class B (2025-01) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Class B | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class C (2025-01) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Class C | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |

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5. CHASEseries Class C Reserve Sub-Accounts

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Tranche<br>| Beginning Class C<br>Reserve<br>Subaccount<br>Balance | Class C<br>Reserve<br>Subaccount<br>earnings for<br>the current<br>period | Targeted deposit to<br>the Class C<br>Reserve<br>Subaccount | Actual deposit to<br>the Class C<br>Reserve<br>Subaccount,<br>including Excess<br>Amounts | Amount<br>withdrawn<br>in respect of<br>payment of<br>interest or<br>principal to<br>Noteholders | Withdrawal of<br>Excess Amounts<br>pursuant to<br>subsection 3.25(c)<br>of the Indenture<br>Supplement | Ending Class C<br>Reserve<br>Subaccount<br>Balance |
|  Class C (2025-01) | 125250000.00 | 103023.57 | 0.00 | 0.00 | 0.00 | (103023.57) | 125250000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Class C | 125250000.00 | 103023.57 | 0.00 | 0.00 | 0.00 | (103023.57) | 125250000.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 125250000.00 | 103023.57 | 0.00 | 0.00 | 0.00 | (103023.57) | 125250000.00 |

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6. Class A Required Subordinated Amount of Class B and Class C Notes and Class A Usage of
Class B and Class C Required Subordinated Amounts

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tranche | Required<br>Subordinated<br>Amount of Class B<br>Notes as of the close<br>of business on the<br>related Note Transfer<br>Date | Required<br>Subordinated<br>Amount of Class C<br>Notes as of the close<br>of business on the<br>related Note Transfer<br>Date | Class A<br>Usage of<br>Class B<br>Required<br>Subordinated<br>Amount for<br>the current<br>period | Class A<br>Usage of<br>Class C<br>Required<br>Subordinated<br>Amount for<br>the current<br>period | Cumulative<br>Class A<br>Usage of<br>Class B<br>Required<br>Subordinated<br>Amount | Cumulative<br>Class A<br>Usage of<br>Class C<br>Required<br>Subordinated<br>Amount |
|  Class A (2022-01) | 81395300.00 | 81395300.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2023-01) | 93604595.00 | 93604595.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2023-02) | 69186005.00 | 69186005.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2024-01) | 101744125.00 | 101744125.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2024-02) | 89534830.00 | 89534830.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  Class A (2025-01) | 122092950.00 | 122092950.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 557557805.00 | 557557805.00 | 0.00 | 0.00 | 0.00 | 0.00 |

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7. Class B Required Subordinated Amount of Class C Notes and Class B Usage of Class C Required
Subordinated Amounts

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| | | | |
|:---|:---|:---|:---|
| Tranche | Required<br>Subordinated Amount<br>of Class C Notes as of<br>the close of<br>business on the related<br>Note Transfer Date | Class B Usage of<br>Class C Required<br>Subordinated Amount<br>for the current period | Cumulative Class B<br>Usage of Class C<br>Required<br>Subordinated Amount |
|  Class B (2025-01) | 572042698.09 | 0.00 | 0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 572042698.09 | 0.00 | 0.00 |

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C. Information regarding the performance of the CHASEseries

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| | | | |
|:---|:---|:---|:---|
|  | July<br>Monthly Period | June<br>Monthly Period | May<br>Monthly Period |
|  Yield - Finance Charge, Fees & Interchange | 24.21% | 24.88% | 23.91% |
|  Plus: Yield - Collections of Discount Receivables | 0.00% | 0.00% | 0.00% |
|  Less: Net Credit Losses | <u>1.54%</u> | <u>1.69%</u> | <u>1.84%</u> |
| (a) Portfolio Yield | 22.67% | 23.19% | 22.07% |
|  Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coupon | 4.66% | 4.77% | 4.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plus: Servicing Fee | <u>1.50%</u> | <u>1.50%</u> | <u>1.50%</u> |
| (b) Base Rate | <u>6.16%</u> | <u>6.27%</u> | <u>6.22%</u> |
| (a) - (b) = Excess Spread Percentage | 16.51% | 16.92% | 15.85% |
|  Three Month Average Excess Spread Percentage | 16.43% | 16.44% | 16.68% |
|  Excess Spread Amount paid to Transferor | $119911084.08 | $95189055.43 | $114930681.29 |
|  Principal Payment Rate | 51.43% | 50.62% | 50.43% |

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| |
|:---|
| JPMorgan Chase Bank, National Association, as Servicer |
| By: /s/ Patricia M. Garvey |
| Patricia M. Garvey |
| Executive Director |
| &nbsp;&nbsp;&nbsp;&nbsp;August 13, 2025 |

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