Credit Card Receivables (Tables)

6 Months Ended

Jul. 30, 2011

Credit Card Receivables

Age of Credit Card Receivables

Age of Credit Card Receivables	July 30, 2011			January 29, 2011				July 31, 2010
			Percent of			Percent of				Percent of
(dollars in millions)	Amount		Receivables	Amount		Receivables		Amount		Receivables
Current	$	5,671	91.4%	$	6,132	89.6	%	$	6,167	88.3%
1-29 days past due	242		3.9	292		4.3		312		4.5
30-59 days past due	101		1.6	131		1.9		162		2.3
60-89 days past due	60		1.0	79		1.1		101		1.4
90+ days past due	128		2.1	209		3.1		246		3.5
Period-end gross credit card receivables	$	6,202	100%	$	6,843	100	%	$	6,988	100%

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts	Three Months Ended				Six Months Ended
(millions)	July 30, 2011		July 31, 2010		July 30, 2011		July 31, 2010
Allowance at beginning of period	$   565		$   930		$   690		$  1,016
Bad debt expense	15		138		27		335
Write-offs(a)	(142	)	(256	)	(326	)	(573	)
Recoveries(a)	42		39		89		73
Allowance at end of period	$   480		$   851		$   480		$   851

(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

Receivables Credit Quality
(millions)	July 30, 2011	January 29, 2011	July 31, 2010
Nondelinquent accounts (Current and 1 – 29 days past due)
FICO score of 700 or above	$   2,786	$   2,819	$   2,789
FICO score of 600 to 699	2,500	2,737	2,782
FICO score below 600	627	868	908
Total nondelinquent accounts	5,913	6,424	6,479
Delinquent accounts (30+ days past due)	289	419	509
Period-end gross credit card receivables	$   6,202	$   6,843	$   6,988

Information of Securitized Borrowings

Securitized Borrowings	July 30, 2011				January 29, 2011				July 31, 2010
	Debt				Debt				Debt
(millions)	Balance		Collateral		Balance		Collateral		Balance		Collateral
2008 Series(a)	$	2,749	$	2,828	$	2,954	$	3,061	$	3,077	$	3,212
2006/2007 Series	1,000		1,266		1,000		1,266		1,000		1,266
Total	$	3,749	$	4,094	$	3,954	$	4,327	$	4,077	$	4,478

(a)The debt balance for the 2008 Series is net of a 7% discount from JPMC. The unamortized portion of this discount was $79 million, $107 million and $134 million as of July 30, 2011, January 29, 2011, and July 31, 2010, respectively.