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 January 22, 2012 to February 21, 2012

 

 

 Commission File Number of issuing entity: 333-130030-01, 333-169151-01, 333-144945-01



 

GE Capital Credit Card Master Note Trust
(Exact Name of issuing entity as specified in its charter)

 

 Commission File Number of depositor: 333-130030, 333-169151, 333-144945



 

RFS Holding, L.L.C.
(Exact Name of Registrant as Specified in its Charter)

 

GE Capital Retail Bank
(Exact Name of Sponsor as Specified in its Charter)

 

Delaware

 

(State or Other Jurisdiction of Incorporation or organization of the issuing entity)

 

57-1173164 (RFS Holding, L.L.C.) 20-0268039 (GE Capital Credit Card Master Note Trust)
(I.R.S. Employer Identification No.)

 

c/o General Electric Capital Corporation    
777 Long Ridge Rd,Building B, 3rd Floor    
Stamford, CT   06902
(Address of Principal Executive Office of the issuing entity)   (Zip Code)

 

 

(877) 441-5094
(Telephone Number, Including Area Code)

 

 

No Change

 

(Former Name or Former Address, if Changed Since Last Report)

 

 
 

 

Registered reporting pursuant to (check one)

 

 

  Section 12(b) Section 12(g) Section 15(d)     Name of Exchange
    (If Section 12(b))
Title of Class        
Series 2007-2, Class A |__| |__| |_X_|       ___________
Series 2007-2, Class B |__| |__| |_X_|       ___________
Series 2007-2, Class C |__| |__| |_X_|       ___________
Series 2007-4, Class A |__| |__| |_X_|       ___________
Series 2007-4, Class B |__| |__| |_X_|       ___________
Series 2007-4, Class C |__| |__| |_X_|       ___________
Series 2009-1, Class A |__| |__| |_X_|       ___________
Series 2009-1, Class B |__| |__| |_X_|       ___________
Series 2009-1, Class C |__| |__| |_X_|       ___________
Series 2009-2, Class A |__| |__| |_X_|       ___________
Series 2009-2, Class B |__| |__| |_X_|       ___________
Series 2009-2, Class C |__| |__| |_X_|       ___________
Series 2009-4, Class A |__| |__| |_X_|       ___________
Series 2009-4, Class B |__| |__| |_X_|       ___________
Series 2009-4, Class C |__| |__| |_X_|       ___________
Series 2010-1, Class A |__| |__| |_X_|       ___________
Series 2010-1, Class B |__| |__| |_X_|       ___________
Series 2010-1, Class C |__| |__| |_X_|       ___________
Series 2010-2, Class A |__| |__| |_X_|       ___________
Series 2010-2, Class B |__| |__| |_X_|       ___________
Series 2010-2, Class C |__| |__| |_X_|       ___________
Series 2010-3, Class A |__| |__| |_X_|       ___________
Series 2010-3, Class B |__| |__| |_X_|       ___________
Series 2011-1, Class A |__| |__| |_X_|       ___________
Series 2011-1, Class B |__| |__| |_X_|       ___________
Series 2011-1, Class C |__| |__| |_X_|       ___________
Series 2011-2, Class A |__| |__| |_X_|       ___________
Series 2011-2, Class B |__| |__| |_X_|       ___________
Series 2011-2, Class C |__| |__| |_X_|       ___________
Series 2011-3, Class A |__| |__| |_X_|       ___________
Series 2011-3, Class B |__| |__| |_X_|       ___________
Series 2011-3, Class C |__| |__| |_X_|       ___________
Series 2012-1, Class A |__| |__| |_X_|       ___________
Series 2012-1, Class B |__| |__| |_X_|       ___________
Series 2012-1, Class C |__| |__| |_X_|       ___________
Series 2012-2, Class A |__| |__| |_X_|       ___________
Series 2012-2, Class B |__| |__| |_X_|       ___________
Series 2012-2, Class C |__| |__| |_X_|       ___________

 

 

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.. No

 

 
 

 

PART I - Distribution Information.
Item 1. Distribution and Pool Performance Information.

The response to Item 1 is set forth herein and in Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, 99.6, 99.7, 99.8, 99.9, 99.10, 99.11, 99.12 and 99.13.

 

 

No assets securitized by RFS Holding, L.L.C. (the “Securitizer”) and held by GE Capital Credit Card Master Note Trust were the subject of a demand to repurchase or replace for breach of the representations and warranties during the distribution period January 22, 2012 through February 21, 2012. The most recent Form ABS-15G filed by the Securitizer was filed on February 13, 2012. The CIK number of the Securitizer is 0001226006.

 
 

 

 

PART II - Other Information

 

Item 3. Sales of Securities and Use of Proceeds

 

On January 25, 2012, GE Capital Credit Card Master Note Trust (the “Trust”) issued $750,000,000 of Series 2012-1 Class A Asset Backed Notes (the “Class A Notes”), $94,637,224 of Series 2012-1 Class B Asset Backed Notes (the “Class B Notes”) and $63,880,126  of Series 2012-1 Class C Asset Backed Notes (the “Class C Notes”), described in a Prospectus Supplement dated January 18, 2012 to a Prospectus dated January 17, 2012 . The information required by Item 2 of Part II of Form 10-Q with respect to the Series 2012-1 Notes is incorporated by reference to the Registrant’s Current Report on 8-K filed on January 26, 2012.

 

On February 2, 2012, GE Capital Credit Card Master Note Trust (the “Trust”) issued $600,000,000 of Series 2012-2 Class A Asset Backed Notes (the “Class A Notes”), $75,709,779 of Series 2012-2 Class B Asset Backed Notes (the “Class B Notes”) and $51,104,101 of Series 2012-2 Class C Asset Backed Notes (the “Class C Notes”), described in a Prospectus Supplement dated January 26, 2012 to a Prospectus dated January 17, 2012. The information required by Item 2 of Part II of Form 10-Q with respect to the Series 2012-2 Notes is incorporated by reference to the Registrant’s Current Report on 8-K filed on February 6, 2012.

 

 

 

Item 8 Other Information.
 

Trust Performance        
  Feb-12 Jan-12 Dec-11 3-Month Avg
Gross Trust Yield 27.10% 22.57% 23.88% 24.52%
Gross Charge-Off Rate 7.54% 6.73% 7.53% 7.27%
Trust excess spread percentage 15.52% 11.49% 11.90% 12.97%
Payment Rate 15.40% 14.95% 14.58% 14.98%
         
Delinquency Data        
1-29 Days Delinquent 4.06% 4.14% 3.51% 3.90%
30-59 Days Delinquent 1.26% 1.23% 1.17% 1.22%
60-89 Days Delinquent 0.88% 0.89% 0.88% 0.88%
90-119 Days Delinquent 0.72% 0.72% 0.72% 0.72%
120-149 Days Delinquent 0.64% 0.65% 0.60% 0.63%
150-179 Days Delinquent 0.57% 0.53% 0.49% 0.53%
180 or Greater Days Delinquent 0.00% 0.00% 0.00% 0.00%
         
BOP Principal Receivables ($B)  $   18.3  $   18.8  $   17.2 $   18.1

 

 
 

 

Item 9 Exhibits.

 

Exhibit No. Document Description
99.1 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2007-2, for March 15, 2012 Payment Date.
99.2 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2007-4, for March 15, 2012 Payment Date.
99.3 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2009-1, for March 15, 2012 Payment Date.
99.4 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2009-2, for March 15, 2012 Payment Date.
99.5 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2009-4, for March 15, 2012 Payment Date.
99.6 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2010-1, for March 15, 2012 Payment Date.
99.7 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2010-2, for March 15, 2012 Payment Date.
99.8 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2010-3, for March 15, 2012 Payment Date.
99.9 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2011-1, for March 15, 2012 Payment Date.
99.10 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2011-2, for March 15, 2012 Payment Date.
99.11 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2011-3, for March 15, 2012 Payment Date.
99.12 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2012-1, for March 15, 2012 Payment Date.
99.13

Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2012-2, for March 15, 2012 Payment Date. 

 

 
 

 

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.

 

 

     
            RFS Holding, L.L.C., as depositor
     
Dated: March 15, 2012           By: /s/ Vishal Gulati
            Name: Vishal Gulati
            Title: Vice President
     
     

 

INDEX TO EXHIBITS
 
 

 

Exhibit No. Document Description
99.1 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2007-2, for March 15, 2012 Payment Date.
99.2 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2007-4, for March 15, 2012 Payment Date.
99.3 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2009-1, for March 15, 2012 Payment Date.
99.4 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2009-2, for March 15, 2012 Payment Date.
99.5 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2009-4, for March 15, 2012 Payment Date.
99.6 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2010-1, for March 15, 2012 Payment Date.
99.7 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2010-2, for March 15, 2012 Payment Date.
99.8 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2010-3, for March 15, 2012 Payment Date.
99.9 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2011-1, for March 15, 2012 Payment Date.
99.10 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2011-2, for March 15, 2012 Payment Date.
99.11 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2011-3, for March 15, 2012 Payment Date.
99.12 Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2012-1, for March 15, 2012 Payment Date.
99.13

Monthly Noteholder's Statement for GE Capital Credit Card Master Note Trust, Series 2012-2, for March 15, 2012 Payment Date.