Credit Card Receivables (Tables)

12 Months Ended

Feb. 02, 2013

Credit Card Receivables

Age of Credit Card Receivables

Age of Credit Card Receivables	February 2, 2013				January 28, 2012
(dollars in millions)	Amount		Percent of Receivables		Amount		Percent of Receivables
Current	$	5,614	93.1	%	$	5,791	91.1	%
1-29 days past due		179	3.0			260	4.1
30-59 days past due		70	1.2			97	1.5
60-89 days past due		45	0.8			62	1.0
90+ days past due		116	1.9			147	2.3
Credit card receivables, at par	$	6,024	100	%	$	6,357	100	%
Lower of cost or fair value adjustment		183				—
Allowance for doubtful accounts		—				430
Credit card receivables, net	$	5,841			$	5,927

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts (millions)	2012			2011			2010
Allowance at beginning of period	$	430		$	690		$	1,016
Bad debt expense		196			154			528
Write-offs (a)		(424	)		(572	)		(1,007	)
Recoveries (a)		133			158			153
Segment allowance at end of period		335			430			690
Elimination of segment allowance		335			—			—
Allowance at end of period	$	—		$	430		$	690

(a)

Write-offs include the principal amount of losses (excluding accrued and unpaid finance charges), and recoveries include current period principal collections on previously written-off balances. These amounts combined represent net write-offs.

Receivables Credit Quality

	February 2, 2013				January 28, 2012
Receivables Credit Quality			Percent of Receivables				Percent of Receivables
(dollars in millions)	Amount				Amount
Nondelinquent accounts
FICO score of 700 or above	$	2,826	46.8	%	$	2,882	45.4	%
FICO score of 600 to 699		2,387	39.6			2,463	38.7
FICO score below 600		580	9.7			706	11.1
Total nondelinquent accounts		5,793	96.1			6,051	95.2
Delinquent accounts (30+ days past due)		231	3.9			306	4.8
Credit card receivables, at par		6,024	100	%		6,357	100	%
Lower of cost or fair value adjustment		183				—
Allowance for doubtful accounts		—				430
Credit card receivables, net	$	5,841			$	5,927