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):  June 17th, 2002
 -------------------------------------------------------------------------------

                  CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
                                  ON BEHALF OF
                    ASSOCIATES CREDIT CARD MASTER NOTE TRUST
             (Exact name of registrant as specified in its charter)


                            UNITED STATES OF AMERICA
             ------------------------------------------------------
                 (State or other jurisdiction of incorporation)

                                   333-9486701
                            -------------------------
                            (Commission File Numbers)

                                   46-0358360
                            -------------------------
                      (IRS Employer Identification Number)



701 EAST 60TH STREET, NORTH
SIOUX FALLS, SOUTH DAKOTA                                        57117
------------------------------------------------              -------------
(Address of principal executive office)                        (Zip Code)


Registrants telephone number, including area code (605) 331-2626




Item 5.                           Other Events
                                  The monthly statements for the month of
                                  May 2002 were distributed to Noteholders
                                  on June 17, 2002.


Item 7 (C).                         Exhibits.

Exhibit No.                         Description

20.1     Series 2000-1 monthly statement for the month of May 2002.
20.2     Series 2000-2 monthly statement for the month of May 2002.




                             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 hereunto duly authorized.



                                CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
                                                AS SERVICER


                                         By:      /s/ Doug Morrison
                                                  -----------------------
                                                    Douglas Morrison
                                                    Chief Financial Officer

<table>
<caption>
File:May '02 8k_2000-1                                              CONFIDENTIAL
Servicer's Report                                                 Date of Report:           6/14/202
Interest Period: May 17, 2002 to June 16, 2002, Pay on June 17th


Associates Credit Card Master Note Trust, Series 2000-1
-----------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------
                                                                     Transferor              Trust
                                                                      Interest               Totals
------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------
<S>                                                                     <C>                   <C>
Beginning Principal Receivables Balance                                                 6,240,972,370.29
Beginning Fin. Chrg. Receivables Balance                                                 239,704,197.49
Beginning Total Receivables Balance                                                     6,480,676,567.78

Beginning Special Funding Accnt Balance                                                       0.00
Beginning Spread Account Balance                                                              0.00
Beginning Reserve Account Balance                                                             0.00


Beginning Period Invested Amount                                  1,665,468,303.62

Ending Period Invested Amount                                     1,940,309,090.51
<caption>
                                                Class A               Class B               Class C              Total Series
Monthly Master Note Trust Activities     Note                           Note                  Note                   Note
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                               <C>                   <C>                   <C>           <C>
Initial Invested Amount = Prin Bal           760,000,000.00        102,500,000.00        137,500,000.00           1,000,000,000.00

Beginning Period Invested Amount             760,000,000.00        102,500,000.00        137,500,000.00           1,000,000,000.00
Principal Deposit to PFA                     63,333,333.33          8,541,666.67              0.00              71,875,000.00
Principal Funding Acct (PFA) Bal             63,333,333.33          8,541,666.67              0.00              71,875,000.00

Note Principal Balance Increase                   0.00                  0.00                  0.00                            0.00
Note Principal Balance Decrease                   0.00                  0.00                  0.00                            0.00

Reductions in Invested Amount this Period
(Other than by Principal Payments)                0.00                  0.00                  0.00                            0.00
Previous Reductions in Invested Amount
  Reimbursed this Period                          0.00                  0.00                  0.00                            0.00

Ending Special Funding Accnt Balance
Ending Spread Account Balance
Ending Reserve Account Balance

Ending Period Invested Amount                696,666,666.67        93,958,333.33         137,500,000.00         928,125,000.00
</table>

<Table>
<Caption>
-------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------
Group I Information                                                Series 2000-1
-------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------
<S>                                                                     <C>
Beginning Invested Amount                                           1,000,000,000.00
Average Rate                                                                   2.07%
Allocable Finance Charge Collections                                   18,356,304.54
Allocable Principal Collections                                        85,204,137.02
Allocable Default Amount Due                                           10,304,256.14
Allocable Monthly Interest Due from Trust                               1,785,061.80
Monthly Interest on PFA Balance                                                 0.00
Allocable Monthly Servicing Fees Due                                    1,666,666.67
Ending Invested Amount                                                928,125,000.00
</table>
<table>
<caption>
-----------------------------------------
-----------------------------------------
Payout Event Tests
-----------------------------------------
-----------------------------------------

Base Rate Trigger
<S>                                                                     <C>
3 Month Average Portfolio Yield                                        10.41%
3 Month Average Base Rate                                              4.10%
Spread                                                                 6.31%
Trigger Pass Test: If Spread is >0, "Yes"                               Yes
<Caption>
Transferor's Interest Trigger
<S>                                                                                           <C>
Required Transferor Interest                                                             432,263,171.00
Transferor Interest                                                                     1,940,309,090.51
Trigger Pass Test                                                                             Yes
</table>


           ASSOCIATES CREDIT CARD MASTER NOTE TRUST
             Series 2000-1

     Pursuant to the Master  Indenture dated as of April 1, 2000 (as amended and
supplemented,  the "Master  Indenture"),  between  Associates Credit Card Master
Note Trust (the  "Trust) and the Bank of New York,  as  indenture  trustee  (the
Indenture Trustee),  as supplemented by the Series 2000-1 Indenture  Supplement,
dated as of June 13, 2000 (the  "Indenture  Supplement"),  between the Trust and
the Indenture Trustee, Citibank (South Dakota), National Association("CBSD"), as
Servicer (the "Servicer") under the Transfer and Servicing  Agreement,  dated as
of April 1, 2000 (the  "Transfer  and  Servicing  Agreement")  between  Citibank
(South Dakota),  National Association,  as Transferor & Servicer, and the Trust,
is  required  to  prepare  certain  information  each  month  regarding  current
distributions to the Series 2000-1  Noteholders and the performance of the Trust
during the previous month. The information which is required to be prepared with
respect  to the  Distribution  Date of June 17th,  2002 and with  respect to the
performance of the Trust during the month of May is set forth below. Capitalized
terms used in this Monthly Statement have their respective meanings set forth in
the Master Indenture and the Indenture Supplement.

<Table>
<S>                                                                                           <C>
Current Transaction Period:                                                             Revolving Period
Any Cash Flow Shortfalls this Period                                                           No
Any Cash Flow Shortfalls from Previous Period                                                  No
Payout Event this Period:                                                                      No
Group I Participants:                                                                    Series 2000-1
</table>

MASTER NOTE TRUST RECEIVABLES

YIELD AND BASE RATE --
                                                    May: (31 posting days)
<table>
<caption>
                                                                       Yield                Defaults                Total
<S>                                                                     <C>                   <C>                    <C>
Portfolio Yield (Current Month)                                               21.32%         11.97%                 9.35%
Portfolio Yield (Prior Month)                                                 20.72%         12.06%                 8.66%
Portfolio Yield (Two Months Ago)                                              25.49%         12.26%                 13.23%

THREE MONTH AVERAGE PORTFOLIO YIELD                                                                                 10.41%
                                                                                                            -----------------------
                                                                                                            -----------------------
</table>

<table>
<caption>
                                                                     Servicing               Coupon                 Total
<S>                                                                     <C>                   <C>                    <C>
Base Rate (Current Month)                                              2.00%                 2.07%                  4.07%
Base Rate (Prior Month)                                                2.00%                 2.09%                  4.09%
Base Rate (Two Months Ago)                                             2.00%                 2.13%                  4.13%

THREE MONTH AVERAGE BASE RATE                                                                                       4.10%
                                                                                                            -----------------------
                                                                                                            -----------------------
</table>

<table>
<caption>

<S>                                                                                           <C>
Beginning Period Principal Receivables                                                  6,240,972,370.29
Beginning Period Finance Charge Receivables                                              239,704,197.49
Beginning Period Discounted Receivables                                                       0.00
Beginning Period Total Receivables                                                      6,480,676,567.78

Removed Principal Receivables                                                                 0.00
Removed Finance Charge Receivables                                                            0.00
Removed Total Receivables                                                                     0.00
Discounted Receivables Generated this Period                                                  0.00
Additional Principal Receivables                                                              0.00
Additional Finance Charge Receivables                                                         0.00
Additional Total Receivables                                                                  0.00

Total Principal Collections this Period                                                  531,756,664.95
Total Defaulted Principal Receivables this Period                                        64,308,577.88
Total Receivables Adjustments this Period                                                22,123,782.94
Total Finance Charge Collections this Period                                             114,561,189.47
Total Discounted Receivables this Period                                                      0.00

Ending Period Principal Receivables                                                     6,175,188,157.18
Ending Period Finance Charge Receivables                                                 230,030,280.05
Ending Period Discounted Receivables                                                          0.00
Ending Period Total Receivables                                                         6,405,218,437.23

DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
                                         31-60 Days Delinquent                           120,434,892.16
                                         61-90 Days Delinquent                           85,977,229.85
                                         91+ Days Delinquent                             186,949,084.87
                                                                                      ---------------------
                                                                                      ---------------------

                                         Total 31+ Days Delinquent                          393,361,206.88
                                                                                      ---------------------
                                                                                      ---------------------
</table>

ASSOCIATES CREDIT CARD MASTER NOTE TRUST
CASH FLOW ALLOCATIONS
SERIES 2000-1                                                            `

     Floating  Investor  Percentage  16.0231%  Floating  Allocation   Percentage
89.4706% Fixed Investor Percentage 16.0231% Series Allocation Percetage 17.9088%
Principal Allocation Percentage 89.4706%
<table>
<caption>
FINANCE CHARGE ALLOCATIONS                                                                                          Total
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                           <C>                    <C>
AVAILABLE FUNDS
Total Trust Finance Charge Collections                                                   114,561,189.47
Investor Percentage                                                                         16.0231%
Investor Finance Charge Collections                                                      18,356,304.54               18,356,304.54
Excess Finance Charge Collections allocated to Series                                         0.00                            0.00
Available Finance Charge Collections                                                     18,356,304.54               18,356,304.54
</table>
CASH FLOW ALLOCATIONS
<table>
<caption>
Class A Distributions
<S>                                      <C>                                                                         <C>
                                      (1)Class A Monthly Interest                                                     1,285,983.33
                                      (2)Class A Monthly Interest Previously Due                                              0.00
                                      (3)Class A Monthly Additional Interest                                                  0.00
                                      (4)Class A Monthly Additional Interest Previously Due                                   0.00
                                         Total Class A Monthly Interest                                               1,285,983.33

Class B Distributions
                                      (5)Class B Monthly Interest                                                       192,415.28
                                      (6)Class B Monthly Interest Previously Due                                              0.00
                                      (7)Class B Monthly Additional Interest                                                  0.00
                                      (8)Class B Monthly Additional Interest Previously Due                                   0.00
                                         Total Class B Monthly Interest                                                 192,415.28

                                      (9)Total Monthly Servicing Fee for Series                                       1,666,666.67
                                     (10)Total Servicing Fee for Series Previously Due                                        0.00

                                     (11)Class A Prepayable Increase Amount Interest                                          0.00
                                     (12)Class B Prepayable Increase Amount Interest                                          0.00
                                     (13)Investor Default Amount                                                     10,304,256.14
                                     (14)Investor Charge-Offs                                                                 0.00
                                     (15)Reallocated Principal Collections Previously Due                                     0.00

Class C Distributions
                                     (16)Class C Monthly Interest                                                       306,663.19

                                     (21)Funds Required per Note Agreement under
                                           Sections 2.07, 2.08 & 2.09                                                         0.00
                                     (22)Funds Required per Note Agreement under
                                           Sections 2.04 (e) & 7.01                                                           0.00

Spread Account Distributions
                                     (23)Class C Spread Account Required Deposit                                              0.00

TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER
                                         SERIES' ALLOCATIONS                                                          4,600,319.93

EXCESS SPREAD ALLOCATED TO OTHER SERIES'                                                                                      0.00

EXCESS SPREAD RELEASED TO TRANSFEROR                                                                                  4,600,319.93
</table>
<table>
<caption>
PRINCIPAL ALLOCATIONS
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
<S>                                                                     <C>                   <C>                    <C>
AVAILABLE FUNDS
Total Trust Principal Collections                                  531,756,664.95
Series Allocation Percentage                                          17.9088%
Principal Allocation Percentage                                       89.4706%
Investor Principal Collections - Series Level                      85,204,137.02
Shared Principal Collections from other Series'                         0.00
Total Investor Principal Collections - Series Level                85,204,137.02

                                                Class A               Class B               Class C                 Total
                                          -----------------------------------------------------------------------------------------
                                          -----------------------------------------------------------------------------------------
Class Principal Percentages(A & B)               88.12%                11.88%                0.00%                         100.00%
Class Principal Collections                    75,078,427.98         10,125,709.04                          -        85,204,137.02
Prin Bal at end of Revolving Prd              760,000,000.00        102,500,000.00        137,500,000.00       1,000,000,000.00
Monthly Deposit to PFA.                        63,333,333.33           8,541,666.67                                71,875,000.00
Partial Deposit:(Prin Funding Acct)                            -                     -                      -                      -
Deficiency Controlled Deposit to PFA                                                 -                      -                      -
Principal Deposit to PFA - Shortfall                           -                     -                      -                      -
Monthly Principal Payment to PFA               63,333,333.33           8,541,666.67                         -      71,875,000.00
Shared Principal Collections                   11,745,094.65           1,584,042.37                         -      13,329,137.02
Bullet Prin Payment at Maturity                                -                     -                      -                      -
Total Distribution:Interest + Prin              1,285,983.33             192,415.28            306,663.19            1,785,061.80

</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
<table>
<caption>
Group 1                                       Coupon Rate             Balance          Interest Payments
                                          --------------------- --------------------- ---------------------
                                          --------------------- --------------------- ---------------------
<S>                                               <C>                    <C>                   <C>
Series 2000-1, Class A                           1.97%            $ 760,000,000.00       $ 1,285,983.33
Series 2000-1, Class B                           2.18%            $ 102,500,000.00        $ 192,415.28                        8
Series 2000-1, Class C                           2.59%            $ 137,500,000.00        $ 306,663.19                        9
</table>
<table>
<caption>
                                             Series 2000-1
                                          -----------------------------------------------------------------------------------------
                                          -----------------------------------------------------------------------------------------
                                                Class A               Class B               Class C                 Total
                                          --------------------- --------------------- --------------------- -----------------------
                                          --------------------- --------------------- --------------------- -----------------------
<S>                                               <C>                   <C>                   <C>                    <C>
Principal Distribution Required Amt                $ -                   $ -      -            $ -      -                     -$ -
Interest Distribution Required Amt           $ 1,285,983.33         $ 192,415.28          $ 306,663.19              $ 1,785,061.80
Unpaid Principal Shortfalls paid                   $ -                   $ -      -            $ -      -                     -$ -
Unpaid Interest Shortfalls paid              $ 63,333,333.33       $ 8,541,666.67              $ -                 $ 71,875,000.00
Prepayable Interest                                $ -                   $ -      -            $ -      -                     -$ -
Servicing Fee                                                                            $ 1,666,666.67             $ 1,666,666.67
                                          --------------------- --------------------- --------------------- -----------------------
                                          --------------------- --------------------- --------------------- -----------------------
Total Required Distribution                  $ 64,619,316.66       $ 8,734,081.95        $ 1,973,329.86            $ 75,326,728.47
                                          ===================== ===================== ===================== =======================
                                          ===================== ===================== ===================== =======================
</table>
<table>
<caption>
File:May '02 8k_2000-2                                         CONFIDENTIAL
Servicer's Report                                              Date of Report:            6/14/2002
Interest Period: May 17, 2002 to June 16, 2002, Pay on June 17th


Associates Credit Card Master Note Trust, Series 2000-2
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
                                                                   Transferor               Trust
                                                                    Interest               Totals
----------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------
<S>                                                                    <C>                   <C>
Beginning Principal Receivables Balance                                               6,240,972,370.29
Beginning Fin. Chrg. Receivables Balance                                               239,704,197.49
Beginning Total Receivables Balance                                                   6,480,676,567.78

Beginning Special Funding Accnt Balance                                                     0.00
Beginning Spread Account Balance                                                            0.00
Beginning Reserve Account Balance                                                           0.00

Beginning Period Invested Amount                                  1,665,468,303.62

Ending Period Invested Amount                                     1,940,309,090.51
<caption>
                                               Class A               Class B               Class C            Total Series
Monthly Master Note Trust Activities       Note                       Note                  Note                  Note
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
<S>                                              <C>                   <C>                   <C>                  <C>
Initial Invested Amount                        600,000,000.00        80,921,000.00     108,553,000.00        789,474,000.00

Beginning Period Invested Amount               600,000,000.00        80,921,000.00     108,553,000.00        789,474,000.00



Note Principal Balance Increase                          0.00                 0.00          0.00                  0.00
Note Principal Balance Decrease                          0.00                 0.00          0.00                  0.00

Reductions in Invested Amount this Period
  (Other than by Principal Payments)                     0.00                 0.00          0.00                  0.00
Previous Reductions in Invested Amount
  Reimbursed this Period                                 0.00                 0.00          0.00                  0.00

Ending Special Funding Accnt Balance
Ending Spread Account Balance
Ending Reserve Account Balance

Ending Period Invested Amount                  600,000,000.00        80,921,000.00     108,553,000.00        789,474,000.00
</table>
<table>
<Caption>
-----------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
Group I Information                                               Series 2000-2
-----------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
<S>                                                                    <C>
Beginning Invested Amount                                           789,474,000.00
Average Rate                                                                 2.05%
Allocable Finance Charge Collections                                 14,491,825.17
Allocable Principal Collections                                      67,983,039.64
Allocable Default Amount Due                                          8,134,942.31
Allocable Monthly Interest Due                                        1,396,343.37
Monthly Interest on PFA Balance                                               0.00
Allocable Monthly Servicing Fees Due                                  1,315,790.00
Ending Invested Amount                                              789,474,000.00
</table>
<table>
<caption>
----------------------------------------
----------------------------------------
Payout Event Tests
----------------------------------------
----------------------------------------

Base Rate Trigger
<S>                                                                    <C>
3 Month Average Portfolio Yield                                      10.41%
3 Month Average Base Rate                                             4.08%
Spread                                                                6.33%
Trigger Pass Test: If Spread is >0, "Yes"                              Yes
<Caption>
Transferor's Interest Trigger
<S>                                                                                          <C>
Required Transferor Interest                                                           432,263,171.00
Transferor Interest                                                                   1,940,309,090.51
Trigger Pass Test                                                                            Yes
</table>

           ASSOCIATES CREDIT CARD MASTER NOTE TRUST
             Series 2000-2

     Pursuant to the Master  Indenture dated as of April 1, 2000 (as amended and
supplemented,  the "Master  Indenture"),  between  Associates Credit Card Master
Note Trust (the  "Trust) and the Bank of New York,  as  indenture  trustee  (the
Indenture Trustee),  as supplemented by the Series 2000-2 Indenture  Supplement,
dated as of June 13, 2000 (the  "Indenture  Supplement"),  between the Trust and
the  Indenture  Trustee,  Citibank  (South  Dakota),  National  Association,  as
Servicer (the "Servicer") under the Transfer and Servicing  Agreement,  dated as
of April 1, 2000 (the  "Transfer  and  Servicing  Agreement")  between  Citibank
(South Dakota) National Association, as Transferor & Servicer, and the Trust, is
required  to  prepare  certain   information   each  month   regarding   current
distributions to the Series 2000-2  Noteholders and the performance of the Trust
during the previous month. The information which is required to be prepared with
respect  to the  Distribution  Date of June 17,  2002,  and with  respect to the
performance of the Trust during the month of May is set forth below. Capitalized
terms used in this Monthly Statement have their respective meanings set forth in
the Master Indenture and the Indenture Supplement.

<Table>
<S>                                                                                          <C>
Current Transaction Period:                                                           Revolving Period
Any Cash Flow Shortfalls this Period                                                         No
Any Cash Flow Shortfalls from Previous Period                                                No
Payout Event this Period:                                                                    No
Group I Participants:                                                                   Series 2000-2
</table>


MASTER NOTE TRUST RECEIVABLES

YIELD AND BASE RATE --
                                         May : (31 posting days)
<table>
<caption>
                                                                      Yield               Defaults               Total
<S>                                                                    <C>                   <C>                  <C>
Portfolio Yield (Current Month)                                      21.32%                11.97%                9.35%
Portfolio Yield (Prior Month)                                        20.72%                12.06%                8.66%
Portfolio Yield (Two Months Ago)                                     25.49%                12.26%                13.23%

THREE MONTH AVERAGE PORTFOLIO YIELD                                                                              10.41%
                                                                                                          ---------------------
                                                                                                          ---------------------
</table>

<table>
<caption>
                                                                    Servicing              Coupon                Total
<S>                                                                    <C>                   <C>                  <C>
Base Rate (Current Month)                                             2.00%                 2.05%                4.05%
Base Rate (Prior Month)                                               2.00%                 2.07%                4.07%
Base Rate (Two Months Ago)                                            2.00%                 2.11%                4.11%

THREE MONTH AVERAGE BASE RATE                                                                                    4.08%
                                                                                                          ---------------------
                                                                                                          ---------------------
</table>
<table>
<caption>
<S>                                                                                          <C>
Beginning Period Principal Receivables                                                6,240,972,370.29
Beginning Period Finance Charge Receivables                                            239,704,197.49
Beginning Period Discounted Receivables                                                     0.00
Beginning Period Total Receivables                                                    6,480,676,567.78

Removed Principal Receivables                                                               0.00
Removed Finance Charge Receivables                                                          0.00
Removed Total Receivables                                                                   0.00
Discounted Receivables Generated this Period                                                0.00
Additional Principal Receivables                                                            0.00
Additional Finance Charge Receivables                                                       0.00
Additional Total Receivables                                                                0.00

Total Principal Collections this Period                                                531,756,664.95
Total Defaulted Principal Receivables this Period                                       64,308,577.88
Total Receivables Adjustments this Period                                               22,123,782.94
Total Finance Charge Collections this Period                                           114,561,189.47
Total Discounted Receivables this Period                                                    0.00

Ending Period Principal Receivables                                                   6,175,188,157.18
Ending Period Finance Charge Receivables                                               230,030,280.05
Ending Period Discounted Receivables                                                        0.00
Ending Period Total Receivables                                                       6,405,218,437.23

DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
                                        31-60 Days Delinquent                          120,434,892.16
                                        61-90 Days Delinquent                           85,977,229.85
                                        91+ Days Delinquent                            186,949,084.87
                                                                                     --------------------
                                                                                     --------------------

                                        Total 31+ Days Delinquent                      393,361,206.88
                                                                                     --------------------
                                                                                     --------------------
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
CASH FLOW ALLOCATIONS
SERIES 2000-2

FLOATING INVESTOR PERCENTAGE                                        12.6499%
FIXED INVESTOR PERCENTAGE                                           12.6499%
<table>
<caption>
FINANCE CHARGE ALLOCATIONS                                                                                       Total
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                          <C>                  <C>
AVAILABLE FUNDS
Total Trust Finance Charge Collections                                                 114,561,189.47
Investor Percentage                                                                       12.6499%
Investor Finance Charge Collections                                                     14,491,825.17        14,491,825.17
Excess Finance Charge Collections allocated to Series                                       0.00                  0.00
Available Finance Charge Collections                                                    14,491,825.17        14,491,825.17
</table>
CASH FLOW ALLOCATIONS
<table>
<caption>
Class A Distributions
<S>                                     <C>                                                                       <C>
                                     (1)Class A Monthly Interest                                              1,002,333.33
                                     (2)Class A Monthly Interest Previously Due                                   0.00
                                     (3)Class A Monthly Additional Interest                                       0.00
                                     (4)Class A Monthly Additional Interest Previously Due                        0.00
                                        Total Class A Monthly Interest                                        1,002,333.33
Class B Distributions
                                     (5)Class B Monthly Interest                                               151,906.70
                                     (6)Class B Monthly Interest Previously Due                                   0.00
                                     (7)Class B Monthly Additional Interest                                       0.00
                                     (8)Class B Monthly Additional Interest Previously Due                        0.00
                                        Total Class B Monthly Interest                                         151,906.70

                                     (9)Total Monthly Servicing Fee for Series                                1,315,790.00
                                    (10)Total Servicing Fee for Series Previously Due                             0.00

                                    (11)Class A Prepayable Increase Amount Interest                               0.00
                                    (12)Class B Prepayable Increase Amount Interest                               0.00
                                    (13)Investor Default Amount                                               8,134,942.31
                                    (14)Investor Charge-Offs                                                      0.00
                                    (15)Reallocated Principal Collections Previously Due                          0.00

Class C Distributions
                                    (16)Class C Monthly Interest                                               242,103.34

                                    (21)Funds Required per Note Agreement under
                                          Sections 2.07, 2.08 & 2.09                                              0.00
                                    (22)Funds Required per Note Agreement under
                                          Sections 2.04 (e) & 7.01                                                0.00

Spread Account Distributions
                                    (23)Class C Spread Account Required Deposit                                   0.00

TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER
                                        SERIES' ALLOCATIONS                                                   3,644,749.49

EXCESS SPREAD ALLOCATED TO OTHER SERIES'                                                                          0.00

EXCESS SPREAD RELEASED TO TRANSFEROR                                                                          3,644,749.49
</table>
<table>
<caption>
PRINCIPAL ALLOCATIONS                                                                      Class A              Class B
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                    <C>                   <C>                  <C>
AVAILABLE FUNDS
Total Trust Principal Collections                                   531,756,664.95
Investor Percentage                                                 14.1386%
Investor Principal Collections                                      90.4238%
Shared Principal Collections from other Series'                      67,983,039.64
Available Principal Collections                                               0.00
                                                                     67,983,039.64
Controlled Amoritization Amount                                                             0.00                  0.00
Partial Amoritization Amount                                                                0.00                  0.00
Deficiency Controlled Amoritization Amount                                                  0.00                  0.00
Monthly Principal Amount                                                                    0.00                  0.00
Principal Shortfall
Reallocated Principal to other Series'                                                      0.00                  0.00

                                                                                           Class C               Total
                                                                                     ------------------------------------------
                                                                                     ------------------------------------------

Controlled Amoritization Amount                                                             0.00                  0.00
Partial Amoritization Amount                                                                0.00                  0.00
Deficiency Controlled Amoritization Amount                                                  0.00                  0.00
Monthly Principal Amount                                                                    0.00                  0.00
Principal Shortfall
Reallocated Principal to other Series'                                                                            0.00
</table>
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
<table>
<caption>
Group 1                                      Coupon Rate             Balance          Interest Payments
                                         --------------------- --------------------  --------------------
                                         --------------------- --------------------  --------------------
<S>                                              <C>            <C>                          <C>
Series 2000-2, Class A                          1.94%             $ 600,000,000.00      $ 1,002,333.33                     3
Series 2000-2, Class B                          2.18%              $ 80,921,000.00       $ 151,906.70                     70
Series 2000-2, Class C                          2.59%             $ 108,553,000.00       $ 242,103.34                     34
</table>
<table>
<caption>
                                            Series 2000-2
                                         --------------------------------------------------------------------------------------
                                         --------------------------------------------------------------------------------------
                                               Class A               Class B               Class C               Total
                                         --------------------- --------------------  -------------------- ---------------------
                                         --------------------- --------------------  -------------------- ---------------------
<S>                                              <C>                   <C>                   <C>                  <C>
Principal Distribution Required Amt               $ -                  $ -       -           $ -     -             $ -     -
Interest Distribution Required Amt             $ 1,002,333.33         $ 151,906.70       $ 242,103.34        $ 1,396,343.374
Unpaid Principal Shortfalls paid                          $ -                  $ -           $ -                   $ -     -
Unpaid Interest Shortfalls paid                           $ -                  $ -           $ -                   $ -     -
Prepayable Interest                                       $ -                  $ -           $ -                   $ -     -
Servicing Fee                                                                           $ 1,315,790.00       $ 1,315,790.000
                                         --------------------- --------------------  -------------------- ---------------------
                                         --------------------- --------------------  -------------------- ---------------------
Total Required Distribution                    $ 1,002,333.33         $ 151,906.70      $ 1,557,893.34       $ 2,712,133.374
                                         ===================== ====================  ==================== =====================
                                         ===================== ====================  ==================== =====================
</table>
[{"type": "8-K", "sequence": "1", "filename": "at053102.txt", "description": "ASSOCIATES MONTHLY 8-K", "secsgml_size_bytes": 50314}]
[{"company-data": {"conformed-name": "CITIBANK SOUTH DAKOTA N A", "cik": "0000839947", "assigned-sic": "6189", "irs-number": "460358360", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17797", "film-number": "02684533"}, "business-address": {"street1": "425 PARK AVE.", "street2": "2ND FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10043", "phone": "6053312626"}, "mail-address": {"street1": "CITIBANK N A LEGAL AFFAIRS OFFICE", "street2": "425 PARK AVENUE 2ND FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10043"}}, {"company-data": {"conformed-name": "ASSOCIATES CREDIT CARD MASTER NOTE TRUST", "cik": "0001103057", "assigned-sic": "7389"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-94867", "film-number": "02684534"}, "business-address": {"street1": "290 E CARPENTER FREEWAY", "city": "IRVING", "state": "TX", "zip": "75062", "phone": "9726524000"}, "mail-address": {"street1": "290 E CARPENTER FREEWAY", "city": "IRVING", "state": "TX", "zip": "75062"}}]
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):  June 17th, 2002
 -------------------------------------------------------------------------------

                  CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
                                  ON BEHALF OF
                    ASSOCIATES CREDIT CARD MASTER NOTE TRUST
             (Exact name of registrant as specified in its charter)

                            UNITED STATES OF AMERICA
             ------------------------------------------------------
                 (State or other jurisdiction of incorporation)

                                   333-9486701
                            -------------------------
                            (Commission File Numbers)

                                   46-0358360
                            -------------------------
                      (IRS Employer Identification Number)

701 EAST 60TH STREET, NORTH
SIOUX FALLS, SOUTH DAKOTA                                        57117
------------------------------------------------              -------------
(Address of principal executive office)                        (Zip Code)

Registrants telephone number, including area code (605) 331-2626

Item 5.                           Other Events
                                  The monthly statements for the month of
                                  May 2002 were distributed to Noteholders
                                  on June 17, 2002.

Item 7 (C).                         Exhibits.

Exhibit No.                         Description

20.1     Series 2000-1 monthly statement for the month of May 2002.
20.2     Series 2000-2 monthly statement for the month of May 2002.

                             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 hereunto duly authorized.

                                CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
                                                AS SERVICER

                                         By:      /s/ Doug Morrison
                                                  -----------------------
                                                    Douglas Morrison
                                                    Chief Financial Officer
File:May '02 8k_2000-1                                              CONFIDENTIAL
Servicer's Report                                                 Date of Report:           6/14/202
Interest Period: May 17, 2002 to June 16, 2002, Pay on June 17th

Associates Credit Card Master Note Trust, Series 2000-1
-----------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------
                                                                     Transferor              Trust
                                                                      Interest               Totals
------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------
Beginning Principal Receivables Balance                                                 6,240,972,370.29
Beginning Fin. Chrg. Receivables Balance                                                 239,704,197.49
Beginning Total Receivables Balance                                                     6,480,676,567.78

Beginning Special Funding Accnt Balance                                                       0.00
Beginning Spread Account Balance                                                              0.00
Beginning Reserve Account Balance                                                             0.00

Beginning Period Invested Amount                                  1,665,468,303.62

Ending Period Invested Amount                                     1,940,309,090.51
Class A               Class B               Class C              Total Series
Monthly Master Note Trust Activities     Note                           Note                  Note                   Note
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Initial Invested Amount = Prin Bal           760,000,000.00        102,500,000.00        137,500,000.00           1,000,000,000.00

Beginning Period Invested Amount             760,000,000.00        102,500,000.00        137,500,000.00           1,000,000,000.00
Principal Deposit to PFA                     63,333,333.33          8,541,666.67              0.00              71,875,000.00
Principal Funding Acct (PFA) Bal             63,333,333.33          8,541,666.67              0.00              71,875,000.00

Note Principal Balance Increase                   0.00                  0.00                  0.00                            0.00
Note Principal Balance Decrease                   0.00                  0.00                  0.00                            0.00

Reductions in Invested Amount this Period
(Other than by Principal Payments)                0.00                  0.00                  0.00                            0.00
Previous Reductions in Invested Amount
  Reimbursed this Period                          0.00                  0.00                  0.00                            0.00

Ending Special Funding Accnt Balance
Ending Spread Account Balance
Ending Reserve Account Balance

Ending Period Invested Amount                696,666,666.67        93,958,333.33         137,500,000.00         928,125,000.00
-------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------
Group I Information                                                Series 2000-1
-------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------
Beginning Invested Amount                                           1,000,000,000.00
Average Rate                                                                   2.07%
Allocable Finance Charge Collections                                   18,356,304.54
Allocable Principal Collections                                        85,204,137.02
Allocable Default Amount Due                                           10,304,256.14
Allocable Monthly Interest Due from Trust                               1,785,061.80
Monthly Interest on PFA Balance                                                 0.00
Allocable Monthly Servicing Fees Due                                    1,666,666.67
Ending Invested Amount                                                928,125,000.00
-----------------------------------------
-----------------------------------------
Payout Event Tests
-----------------------------------------
-----------------------------------------

Base Rate Trigger
3 Month Average Portfolio Yield                                        10.41%
3 Month Average Base Rate                                              4.10%
Spread                                                                 6.31%
Trigger Pass Test: If Spread is >0, "Yes"                               Yes
Transferor's Interest Trigger
Required Transferor Interest                                                             432,263,171.00
Transferor Interest                                                                     1,940,309,090.51
Trigger Pass Test                                                                             Yes
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
             Series 2000-1

     Pursuant to the Master  Indenture dated as of April 1, 2000 (as amended and
supplemented,  the "Master  Indenture"),  between  Associates Credit Card Master
Note Trust (the  "Trust) and the Bank of New York,  as  indenture  trustee  (the
Indenture Trustee),  as supplemented by the Series 2000-1 Indenture  Supplement,
dated as of June 13, 2000 (the  "Indenture  Supplement"),  between the Trust and
the Indenture Trustee, Citibank (South Dakota), National Association("CBSD"), as
Servicer (the "Servicer") under the Transfer and Servicing  Agreement,  dated as
of April 1, 2000 (the  "Transfer  and  Servicing  Agreement")  between  Citibank
(South Dakota),  National Association,  as Transferor & Servicer, and the Trust,
is  required  to  prepare  certain  information  each  month  regarding  current
distributions to the Series 2000-1  Noteholders and the performance of the Trust
during the previous month. The information which is required to be prepared with
respect  to the  Distribution  Date of June 17th,  2002 and with  respect to the
performance of the Trust during the month of May is set forth below. Capitalized
terms used in this Monthly Statement have their respective meanings set forth in
the Master Indenture and the Indenture Supplement.
Current Transaction Period:                                                             Revolving Period
Any Cash Flow Shortfalls this Period                                                           No
Any Cash Flow Shortfalls from Previous Period                                                  No
Payout Event this Period:                                                                      No
Group I Participants:                                                                    Series 2000-1
MASTER NOTE TRUST RECEIVABLES

YIELD AND BASE RATE --
                                                    May: (31 posting days)
Yield                Defaults                Total
Portfolio Yield (Current Month)                                               21.32%         11.97%                 9.35%
Portfolio Yield (Prior Month)                                                 20.72%         12.06%                 8.66%
Portfolio Yield (Two Months Ago)                                              25.49%         12.26%                 13.23%

THREE MONTH AVERAGE PORTFOLIO YIELD                                                                                 10.41%
                                                                                                            -----------------------
                                                                                                            -----------------------
Servicing               Coupon                 Total
Base Rate (Current Month)                                              2.00%                 2.07%                  4.07%
Base Rate (Prior Month)                                                2.00%                 2.09%                  4.09%
Base Rate (Two Months Ago)                                             2.00%                 2.13%                  4.13%

THREE MONTH AVERAGE BASE RATE                                                                                       4.10%
                                                                                                            -----------------------
                                                                                                            -----------------------
Beginning Period Principal Receivables                                                  6,240,972,370.29
Beginning Period Finance Charge Receivables                                              239,704,197.49
Beginning Period Discounted Receivables                                                       0.00
Beginning Period Total Receivables                                                      6,480,676,567.78

Removed Principal Receivables                                                                 0.00
Removed Finance Charge Receivables                                                            0.00
Removed Total Receivables                                                                     0.00
Discounted Receivables Generated this Period                                                  0.00
Additional Principal Receivables                                                              0.00
Additional Finance Charge Receivables                                                         0.00
Additional Total Receivables                                                                  0.00

Total Principal Collections this Period                                                  531,756,664.95
Total Defaulted Principal Receivables this Period                                        64,308,577.88
Total Receivables Adjustments this Period                                                22,123,782.94
Total Finance Charge Collections this Period                                             114,561,189.47
Total Discounted Receivables this Period                                                      0.00

Ending Period Principal Receivables                                                     6,175,188,157.18
Ending Period Finance Charge Receivables                                                 230,030,280.05
Ending Period Discounted Receivables                                                          0.00
Ending Period Total Receivables                                                         6,405,218,437.23

DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
                                         31-60 Days Delinquent                           120,434,892.16
                                         61-90 Days Delinquent                           85,977,229.85
                                         91+ Days Delinquent                             186,949,084.87
                                                                                      ---------------------
                                                                                      ---------------------

                                         Total 31+ Days Delinquent                          393,361,206.88
                                                                                      ---------------------
                                                                                      ---------------------
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
CASH FLOW ALLOCATIONS
SERIES 2000-1                                                            `

     Floating  Investor  Percentage  16.0231%  Floating  Allocation   Percentage
89.4706% Fixed Investor Percentage 16.0231% Series Allocation Percetage 17.9088%
Principal Allocation Percentage 89.4706%
FINANCE CHARGE ALLOCATIONS                                                                                          Total
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Finance Charge Collections                                                   114,561,189.47
Investor Percentage                                                                         16.0231%
Investor Finance Charge Collections                                                      18,356,304.54               18,356,304.54
Excess Finance Charge Collections allocated to Series                                         0.00                            0.00
Available Finance Charge Collections                                                     18,356,304.54               18,356,304.54
CASH FLOW ALLOCATIONS
Class A Distributions
(1)Class A Monthly Interest                                                     1,285,983.33
                                      (2)Class A Monthly Interest Previously Due                                              0.00
                                      (3)Class A Monthly Additional Interest                                                  0.00
                                      (4)Class A Monthly Additional Interest Previously Due                                   0.00
                                         Total Class A Monthly Interest                                               1,285,983.33

Class B Distributions
                                      (5)Class B Monthly Interest                                                       192,415.28
                                      (6)Class B Monthly Interest Previously Due                                              0.00
                                      (7)Class B Monthly Additional Interest                                                  0.00
                                      (8)Class B Monthly Additional Interest Previously Due                                   0.00
                                         Total Class B Monthly Interest                                                 192,415.28

                                      (9)Total Monthly Servicing Fee for Series                                       1,666,666.67
                                     (10)Total Servicing Fee for Series Previously Due                                        0.00

                                     (11)Class A Prepayable Increase Amount Interest                                          0.00
                                     (12)Class B Prepayable Increase Amount Interest                                          0.00
                                     (13)Investor Default Amount                                                     10,304,256.14
                                     (14)Investor Charge-Offs                                                                 0.00
                                     (15)Reallocated Principal Collections Previously Due                                     0.00

Class C Distributions
                                     (16)Class C Monthly Interest                                                       306,663.19

                                     (21)Funds Required per Note Agreement under
                                           Sections 2.07, 2.08 & 2.09                                                         0.00
                                     (22)Funds Required per Note Agreement under
                                           Sections 2.04 (e) & 7.01                                                           0.00

Spread Account Distributions
                                     (23)Class C Spread Account Required Deposit                                              0.00

TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER
                                         SERIES' ALLOCATIONS                                                          4,600,319.93

EXCESS SPREAD ALLOCATED TO OTHER SERIES'                                                                                      0.00

EXCESS SPREAD RELEASED TO TRANSFEROR                                                                                  4,600,319.93
PRINCIPAL ALLOCATIONS
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Principal Collections                                  531,756,664.95
Series Allocation Percentage                                          17.9088%
Principal Allocation Percentage                                       89.4706%
Investor Principal Collections - Series Level                      85,204,137.02
Shared Principal Collections from other Series'                         0.00
Total Investor Principal Collections - Series Level                85,204,137.02

                                                Class A               Class B               Class C                 Total
                                          -----------------------------------------------------------------------------------------
                                          -----------------------------------------------------------------------------------------
Class Principal Percentages(A & B)               88.12%                11.88%                0.00%                         100.00%
Class Principal Collections                    75,078,427.98         10,125,709.04                          -        85,204,137.02
Prin Bal at end of Revolving Prd              760,000,000.00        102,500,000.00        137,500,000.00       1,000,000,000.00
Monthly Deposit to PFA.                        63,333,333.33           8,541,666.67                                71,875,000.00
Partial Deposit:(Prin Funding Acct)                            -                     -                      -                      -
Deficiency Controlled Deposit to PFA                                                 -                      -                      -
Principal Deposit to PFA - Shortfall                           -                     -                      -                      -
Monthly Principal Payment to PFA               63,333,333.33           8,541,666.67                         -      71,875,000.00
Shared Principal Collections                   11,745,094.65           1,584,042.37                         -      13,329,137.02
Bullet Prin Payment at Maturity                                -                     -                      -                      -
Total Distribution:Interest + Prin              1,285,983.33             192,415.28            306,663.19            1,785,061.80
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Group 1                                       Coupon Rate             Balance          Interest Payments
                                          --------------------- --------------------- ---------------------
                                          --------------------- --------------------- ---------------------
Series 2000-1, Class A                           1.97%            $ 760,000,000.00       $ 1,285,983.33
Series 2000-1, Class B                           2.18%            $ 102,500,000.00        $ 192,415.28                        8
Series 2000-1, Class C                           2.59%            $ 137,500,000.00        $ 306,663.19                        9
Series 2000-1
                                          -----------------------------------------------------------------------------------------
                                          -----------------------------------------------------------------------------------------
                                                Class A               Class B               Class C                 Total
                                          --------------------- --------------------- --------------------- -----------------------
                                          --------------------- --------------------- --------------------- -----------------------
Principal Distribution Required Amt                $ -                   $ -      -            $ -      -                     -$ -
Interest Distribution Required Amt           $ 1,285,983.33         $ 192,415.28          $ 306,663.19              $ 1,785,061.80
Unpaid Principal Shortfalls paid                   $ -                   $ -      -            $ -      -                     -$ -
Unpaid Interest Shortfalls paid              $ 63,333,333.33       $ 8,541,666.67              $ -                 $ 71,875,000.00
Prepayable Interest                                $ -                   $ -      -            $ -      -                     -$ -
Servicing Fee                                                                            $ 1,666,666.67             $ 1,666,666.67
                                          --------------------- --------------------- --------------------- -----------------------
                                          --------------------- --------------------- --------------------- -----------------------
Total Required Distribution                  $ 64,619,316.66       $ 8,734,081.95        $ 1,973,329.86            $ 75,326,728.47
                                          ===================== ===================== ===================== =======================
                                          ===================== ===================== ===================== =======================
File:May '02 8k_2000-2                                         CONFIDENTIAL
Servicer's Report                                              Date of Report:            6/14/2002
Interest Period: May 17, 2002 to June 16, 2002, Pay on June 17th

Associates Credit Card Master Note Trust, Series 2000-2
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
                                                                   Transferor               Trust
                                                                    Interest               Totals
----------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------
Beginning Principal Receivables Balance                                               6,240,972,370.29
Beginning Fin. Chrg. Receivables Balance                                               239,704,197.49
Beginning Total Receivables Balance                                                   6,480,676,567.78

Beginning Special Funding Accnt Balance                                                     0.00
Beginning Spread Account Balance                                                            0.00
Beginning Reserve Account Balance                                                           0.00

Beginning Period Invested Amount                                  1,665,468,303.62

Ending Period Invested Amount                                     1,940,309,090.51
Class A               Class B               Class C            Total Series
Monthly Master Note Trust Activities       Note                       Note                  Note                  Note
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
Initial Invested Amount                        600,000,000.00        80,921,000.00     108,553,000.00        789,474,000.00

Beginning Period Invested Amount               600,000,000.00        80,921,000.00     108,553,000.00        789,474,000.00

Note Principal Balance Increase                          0.00                 0.00          0.00                  0.00
Note Principal Balance Decrease                          0.00                 0.00          0.00                  0.00

Reductions in Invested Amount this Period
  (Other than by Principal Payments)                     0.00                 0.00          0.00                  0.00
Previous Reductions in Invested Amount
  Reimbursed this Period                                 0.00                 0.00          0.00                  0.00

Ending Special Funding Accnt Balance
Ending Spread Account Balance
Ending Reserve Account Balance

Ending Period Invested Amount                  600,000,000.00        80,921,000.00     108,553,000.00        789,474,000.00
-----------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
Group I Information                                               Series 2000-2
-----------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
Beginning Invested Amount                                           789,474,000.00
Average Rate                                                                 2.05%
Allocable Finance Charge Collections                                 14,491,825.17
Allocable Principal Collections                                      67,983,039.64
Allocable Default Amount Due                                          8,134,942.31
Allocable Monthly Interest Due                                        1,396,343.37
Monthly Interest on PFA Balance                                               0.00
Allocable Monthly Servicing Fees Due                                  1,315,790.00
Ending Invested Amount                                              789,474,000.00
----------------------------------------
----------------------------------------
Payout Event Tests
----------------------------------------
----------------------------------------

Base Rate Trigger
3 Month Average Portfolio Yield                                      10.41%
3 Month Average Base Rate                                             4.08%
Spread                                                                6.33%
Trigger Pass Test: If Spread is >0, "Yes"                              Yes
Transferor's Interest Trigger
Required Transferor Interest                                                           432,263,171.00
Transferor Interest                                                                   1,940,309,090.51
Trigger Pass Test                                                                            Yes
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
             Series 2000-2

     Pursuant to the Master  Indenture dated as of April 1, 2000 (as amended and
supplemented,  the "Master  Indenture"),  between  Associates Credit Card Master
Note Trust (the  "Trust) and the Bank of New York,  as  indenture  trustee  (the
Indenture Trustee),  as supplemented by the Series 2000-2 Indenture  Supplement,
dated as of June 13, 2000 (the  "Indenture  Supplement"),  between the Trust and
the  Indenture  Trustee,  Citibank  (South  Dakota),  National  Association,  as
Servicer (the "Servicer") under the Transfer and Servicing  Agreement,  dated as
of April 1, 2000 (the  "Transfer  and  Servicing  Agreement")  between  Citibank
(South Dakota) National Association, as Transferor & Servicer, and the Trust, is
required  to  prepare  certain   information   each  month   regarding   current
distributions to the Series 2000-2  Noteholders and the performance of the Trust
during the previous month. The information which is required to be prepared with
respect  to the  Distribution  Date of June 17,  2002,  and with  respect to the
performance of the Trust during the month of May is set forth below. Capitalized
terms used in this Monthly Statement have their respective meanings set forth in
the Master Indenture and the Indenture Supplement.
Current Transaction Period:                                                           Revolving Period
Any Cash Flow Shortfalls this Period                                                         No
Any Cash Flow Shortfalls from Previous Period                                                No
Payout Event this Period:                                                                    No
Group I Participants:                                                                   Series 2000-2
MASTER NOTE TRUST RECEIVABLES

YIELD AND BASE RATE --
                                         May : (31 posting days)
Yield               Defaults               Total
Portfolio Yield (Current Month)                                      21.32%                11.97%                9.35%
Portfolio Yield (Prior Month)                                        20.72%                12.06%                8.66%
Portfolio Yield (Two Months Ago)                                     25.49%                12.26%                13.23%

THREE MONTH AVERAGE PORTFOLIO YIELD                                                                              10.41%
                                                                                                          ---------------------
                                                                                                          ---------------------
Servicing              Coupon                Total
Base Rate (Current Month)                                             2.00%                 2.05%                4.05%
Base Rate (Prior Month)                                               2.00%                 2.07%                4.07%
Base Rate (Two Months Ago)                                            2.00%                 2.11%                4.11%

THREE MONTH AVERAGE BASE RATE                                                                                    4.08%
                                                                                                          ---------------------
                                                                                                          ---------------------
Beginning Period Principal Receivables                                                6,240,972,370.29
Beginning Period Finance Charge Receivables                                            239,704,197.49
Beginning Period Discounted Receivables                                                     0.00
Beginning Period Total Receivables                                                    6,480,676,567.78

Removed Principal Receivables                                                               0.00
Removed Finance Charge Receivables                                                          0.00
Removed Total Receivables                                                                   0.00
Discounted Receivables Generated this Period                                                0.00
Additional Principal Receivables                                                            0.00
Additional Finance Charge Receivables                                                       0.00
Additional Total Receivables                                                                0.00

Total Principal Collections this Period                                                531,756,664.95
Total Defaulted Principal Receivables this Period                                       64,308,577.88
Total Receivables Adjustments this Period                                               22,123,782.94
Total Finance Charge Collections this Period                                           114,561,189.47
Total Discounted Receivables this Period                                                    0.00

Ending Period Principal Receivables                                                   6,175,188,157.18
Ending Period Finance Charge Receivables                                               230,030,280.05
Ending Period Discounted Receivables                                                        0.00
Ending Period Total Receivables                                                       6,405,218,437.23

DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
                                        31-60 Days Delinquent                          120,434,892.16
                                        61-90 Days Delinquent                           85,977,229.85
                                        91+ Days Delinquent                            186,949,084.87
                                                                                     --------------------
                                                                                     --------------------

                                        Total 31+ Days Delinquent                      393,361,206.88
                                                                                     --------------------
                                                                                     --------------------
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
CASH FLOW ALLOCATIONS
SERIES 2000-2

FLOATING INVESTOR PERCENTAGE                                        12.6499%
FIXED INVESTOR PERCENTAGE                                           12.6499%
FINANCE CHARGE ALLOCATIONS                                                                                       Total
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Finance Charge Collections                                                 114,561,189.47
Investor Percentage                                                                       12.6499%
Investor Finance Charge Collections                                                     14,491,825.17        14,491,825.17
Excess Finance Charge Collections allocated to Series                                       0.00                  0.00
Available Finance Charge Collections                                                    14,491,825.17        14,491,825.17
CASH FLOW ALLOCATIONS
Class A Distributions
(1)Class A Monthly Interest                                              1,002,333.33
                                     (2)Class A Monthly Interest Previously Due                                   0.00
                                     (3)Class A Monthly Additional Interest                                       0.00
                                     (4)Class A Monthly Additional Interest Previously Due                        0.00
                                        Total Class A Monthly Interest                                        1,002,333.33
Class B Distributions
                                     (5)Class B Monthly Interest                                               151,906.70
                                     (6)Class B Monthly Interest Previously Due                                   0.00
                                     (7)Class B Monthly Additional Interest                                       0.00
                                     (8)Class B Monthly Additional Interest Previously Due                        0.00
                                        Total Class B Monthly Interest                                         151,906.70

                                     (9)Total Monthly Servicing Fee for Series                                1,315,790.00
                                    (10)Total Servicing Fee for Series Previously Due                             0.00

                                    (11)Class A Prepayable Increase Amount Interest                               0.00
                                    (12)Class B Prepayable Increase Amount Interest                               0.00
                                    (13)Investor Default Amount                                               8,134,942.31
                                    (14)Investor Charge-Offs                                                      0.00
                                    (15)Reallocated Principal Collections Previously Due                          0.00

Class C Distributions
                                    (16)Class C Monthly Interest                                               242,103.34

                                    (21)Funds Required per Note Agreement under
                                          Sections 2.07, 2.08 & 2.09                                              0.00
                                    (22)Funds Required per Note Agreement under
                                          Sections 2.04 (e) & 7.01                                                0.00

Spread Account Distributions
                                    (23)Class C Spread Account Required Deposit                                   0.00

TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER
                                        SERIES' ALLOCATIONS                                                   3,644,749.49

EXCESS SPREAD ALLOCATED TO OTHER SERIES'                                                                          0.00

EXCESS SPREAD RELEASED TO TRANSFEROR                                                                          3,644,749.49
PRINCIPAL ALLOCATIONS                                                                      Class A              Class B
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
AVAILABLE FUNDS
Total Trust Principal Collections                                   531,756,664.95
Investor Percentage                                                 14.1386%
Investor Principal Collections                                      90.4238%
Shared Principal Collections from other Series'                      67,983,039.64
Available Principal Collections                                               0.00
                                                                     67,983,039.64
Controlled Amoritization Amount                                                             0.00                  0.00
Partial Amoritization Amount                                                                0.00                  0.00
Deficiency Controlled Amoritization Amount                                                  0.00                  0.00
Monthly Principal Amount                                                                    0.00                  0.00
Principal Shortfall
Reallocated Principal to other Series'                                                      0.00                  0.00

                                                                                           Class C               Total
                                                                                     ------------------------------------------
                                                                                     ------------------------------------------

Controlled Amoritization Amount                                                             0.00                  0.00
Partial Amoritization Amount                                                                0.00                  0.00
Deficiency Controlled Amoritization Amount                                                  0.00                  0.00
Monthly Principal Amount                                                                    0.00                  0.00
Principal Shortfall
Reallocated Principal to other Series'                                                                            0.00
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Group 1                                      Coupon Rate             Balance          Interest Payments
                                         --------------------- --------------------  --------------------
                                         --------------------- --------------------  --------------------
Series 2000-2, Class A                          1.94%             $ 600,000,000.00      $ 1,002,333.33                     3
Series 2000-2, Class B                          2.18%              $ 80,921,000.00       $ 151,906.70                     70
Series 2000-2, Class C                          2.59%             $ 108,553,000.00       $ 242,103.34                     34
Series 2000-2
                                         --------------------------------------------------------------------------------------
                                         --------------------------------------------------------------------------------------
                                               Class A               Class B               Class C               Total
                                         --------------------- --------------------  -------------------- ---------------------
                                         --------------------- --------------------  -------------------- ---------------------
Principal Distribution Required Amt               $ -                  $ -       -           $ -     -             $ -     -
Interest Distribution Required Amt             $ 1,002,333.33         $ 151,906.70       $ 242,103.34        $ 1,396,343.374
Unpaid Principal Shortfalls paid                          $ -                  $ -           $ -                   $ -     -
Unpaid Interest Shortfalls paid                           $ -                  $ -           $ -                   $ -     -
Prepayable Interest                                       $ -                  $ -           $ -                   $ -     -
Servicing Fee                                                                           $ 1,315,790.00       $ 1,315,790.000
                                         --------------------- --------------------  -------------------- ---------------------
                                         --------------------- --------------------  -------------------- ---------------------
Total Required Distribution                    $ 1,002,333.33         $ 151,906.70      $ 1,557,893.34       $ 2,712,133.374
                                         ===================== ====================  ==================== =====================
                                         ===================== ====================  ==================== =====================