Our lending and charge payment card products that we offer to consumer, small business and corporate customers result in the generation of Card Member loans and Card Member receivables. We also extend credit to customers through non-card financing products, resulting in Other loans.

Card Member loans are generally recorded at the time a Card Member enters into a point-of-sale transaction with a merchant and represent revolve-eligible transactions on our card products, as well as any finance charges and associated card-related fees. Card Members with outstanding revolving loans are required to make a minimum monthly payment, and the balances that Card Members choose to revolve are subject to finance charges. These loans have varying terms such as credit limits, interest rates, fees and payment structures, which can be revised over time based on new information about Card Members and in accordance with applicable regulations and the respective product’s terms and conditions.

Card Member loans are presented on the Consolidated Balance Sheets net of reserves for credit losses (refer to Note 3), and include principal and any related accrued interest and fees. Our policy generally is to cease accruing interest on a Card Member loan at the time the account is written off, and establish reserves for interest that we believe will not be collected.

Other loans are recorded at the time any extension of credit is provided to consumer and commercial customers for non-card financing products. These loans have a range of fixed terms such as interest rates, fees and repayment periods. Borrowers are typically required to make pre-established monthly payments over the term of the loan. Non-card financing products are not associated with a Card Member agreement, and instead are governed by a separate borrowing relationship. Other loans are presented on the Consolidated Balance Sheets net of reserves for credit losses and include principal and any related accrued interest and fees.

Card Member and Other loans as of December 31, 2023 and 2022 consisted of:


(Millions)	2023		2022
Consumer (a)	$	98,111	$	84,964
Small Business	27,833		22,947
Corporate	51		53
Card Member loans	125,995		107,964
Less: Reserves for credit losses	5,118		3,747
Card Member loans, net	$	120,877	$	104,217
Other loans, net (b)	$	6,960	$	5,357

Card Member receivables are recorded at the time a Card Member enters into a point-of-sale transaction with a merchant and represent amounts due on our card products and card-related fees that need to be paid in full on or before the Card Member’s payment due date.

Charge Card Members generally must pay the full amount billed each month. Card Member receivable balances are presented on the Consolidated Balance Sheets net of reserves for credit losses (refer to Note 3), and include principal and any related accrued fees.

Card Member receivables as of December 31, 2023 and 2022 consisted of:


(Millions)	2023		2022
Consumer	$	25,578	$	22,885
Small Business	19,286		19,629
Corporate(a)	15,547		15,099
Card Member receivables	60,411		57,613
Less: Reserves for credit losses	174		229
Card Member receivables, net	$	60,237	$	57,384

Generally, a Card Member account is considered past due if payment due is not received within 30 days after the billing statement date. The following table presents the aging of Card Member loans and receivables as of December 31, 2023 and 2022:


2023 (Millions)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total		90+ Days Past Due and Still Accruing Interest (c)		Non-Accruals(d)
Card Member Loans:
Consumer	$	96,779	$	420	$	298	$	614	$	98,111	$	393	$	344
Small Business	27,444		133		85		171		27,833		109		95
Corporate (a)	(b)		(b)		(b)		—		51		—		—
Card Member Receivables:
Consumer	25,355		70		47		106		25,578		—		—
Small Business	$	19,020	$	104	$	62	$	100	$	19,286	$	—	$	—
Corporate (a)	(b)		(b)		(b)		$	67	$	15,547	$	—	$	—


2022 (Millions)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total
Card Member Loans:
Consumer	$	84,102	$	281	$	198	$	383	$	84,964
Small Business	22,731		81		49		86		22,947
Corporate (a)	(b)		(b)		(b)		—		53
Card Member Receivables:
Consumer	22,634		83		56		112		22,885
Small Business	$	19,330	$	120	$	69	110		19,629
Corporate (a)	(b)		(b)		(b)		$	85	$	15,099

(a)For corporate accounts, delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b).

(b)Delinquency data for periods other than 90+ days past billing is not available due to system constraints. Therefore, such data has not been utilized for risk management purposes. The balances that are current to 89 days past due can be derived as the difference between the Total and the 90+ Days Past Due balances.

The following tables present the key credit quality indicators as of or for the years ended December 31:


	2023						2022
	Net Write-Off Rate						Net Write-Off Rate
	Principal Only (a)		Principal, Interest & Fees (a)		30+ Days Past Due as a % of Total		Principal Only (a)		Principal, Interest & Fees (a)		30+ Days Past Due as a % of Total
Card Member Loans:
Consumer	1.8	%	2.2	%	1.4	%	0.9	%	1.2	%	1.0	%
Small Business	1.7	%	1.9	%	1.4	%	0.7	%	0.8	%	0.9	%
Card Member Receivables:
Consumer	1.5	%	1.6	%	0.9	%	0.8	%	0.9	%	1.1	%
Small Business	2.2	%	2.4	%	1.4	%	1.1	%	1.2	%	1.5	%
Corporate	(b)		0.6	%	(c)		(b)		0.4	%	(c)

(a)We present a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention. In addition, as our practice is to include uncollectible interest and/or fees as part of our total provision for credit losses, a net write-off rate including principal, interest and/or fees is also presented.

(c)For corporate receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ days past billing as a % of total was 0.4% and 0.6% as of December 31, 2023 and 2022, respectively.

Effective January 1, 2023, we prospectively adopted the new guidance that eliminated the recognition and measurement of TDRs. Following the adoption of this guidance, we evaluate all loans and receivables restructurings according to the accounting guidance for loan refinancing and restructuring to determine whether such loan modification should be accounted for as a new loan or a continuation of the existing loan. Our loans and receivables restructurings for borrowers experiencing financial difficulty are generally accounted for as a continuation of the existing loan, which reflects the ongoing effort to support our customer and recover our investment in the existing loan.

We offer several types of loans and receivables modification programs to customers experiencing financial difficulty. In such instances, we may modify loans and receivables with the intention to minimize losses and improve collectability, while providing customers with temporary or permanent financial relief.

Such modifications to the loans and receivables primarily include (i) temporary interest rate reductions (reducing interest rates to as low as zero percent, in which case the loan is characterized as non-accrual) and/or (ii) placing the customer on a fixed payment plan not to exceed 60 months. Upon entering the modification program, the customer’s ability to make future purchases is limited, canceled or, in certain cases, suspended until the customer successfully exits from the modification program. As of December 31, 2023, we had $83 million of unused credit available to customers with loans and receivables modified during the year ended December 31, 2023. In accordance with the modification agreement with the customer, loans and/or receivables may revert to the original contractual terms (including the contractual interest rate where applicable) when the customer exits the modification program, which is either (i) when all payments have been made in accordance with the modification agreement or (ii) when the customer defaults out of the modification program.

The following table provides information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the year ended December 31, 2023:


	As of December 31, 2023

2023 (Millions)	Account Balances (Millions) (a)		% of Total Class of Financing Receivables		Weighted Average Interest Rate Reduction (% points)		Weighted Average Payment Term Extensions (# of months)
Interest Rate Reduction
Card Member Loans
Consumer	$	1,572	1.6	%	16.4	%	(b)
Small Business	550		2.0	%	15.9	%	(b)
Corporate	—		—		—		(b)
Term Extension
Card Member Receivables
Consumer	346		1.4	%	(c)		27
Small Business	543		2.8	%	(c)		28
Corporate	13		0.1	%	(c)		9
Other Loans	23		0.3	%	—		18
Interest Rate Reduction and Term Extension
Other Loans	$	42	0.6	%	2.1	%	20
Total	$	3,089

(a)Represents the outstanding balances as of December 31, 2023 of all modifications undertaken in the last year for loans and receivables that remain in modification programs as of, or that defaulted on or before, December 31, 2023. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance.

The following table provides information with respect to loans and receivables modified on or after January 1, 2023 that subsequently defaulted in the period presented. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program.


	As of December 31, 2023
Account Balance (Millions) (a)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total
Card Member Loans
Consumer	$	53	(b)		$	—	$	53
Small Business	20		(b)		—		20
Corporate	—		(b)		—		—
Card Member Receivables
Consumer	(c)		9		—		9
Small Business	(c)		14		—		14
Corporate	(c)		—		—		—
Other Loans	—		—		1		1
Total	$	73	$	23	$	1	$	97

(a)Represents the outstanding balances as of December 31, 2023 of all modifications undertaken on or after January 1, 2023 and subsequently defaulted in the past year. The outstanding balance includes principal, fees and accrued interest on loans and principal and fees on receivables.


	As of December 31, 2023
Account Balances (Millions) (a)	Current		30-89 Days Past Due		90+ Days Past Due
Card Member Loans
Consumer	$	1,433	$	103	$	36
Small Business	489		45		16
Corporate	—		—		—
Card Member Receivables:
Consumer	314		25		7
Small Business	479		52		12
Corporate	11		2		—
Other Loans	59		4		2
Total	$	2,785	$	231	$	73

(a)Represents the outstanding balances as of December 31, 2023 of all modifications undertaken on or after January 1, 2023 for loans and receivables that remain in modification programs as of, or that defaulted on or before, December 31, 2023. The outstanding balance includes principal, fees and accrued interest on loans and principal and fees on receivables

Prior to adoption of the new loan modification guidance, we accounted for a modification to the contractual terms of a loan that resulted in granting a concession to a borrower experiencing financial difficulties as a TDR. Loans that were classified as a TDR prior to adoption will continue to be accounted for under the historical TDR accounting until the loan is entirely paid off or written off.

The following tables provide additional information with respect to our impaired loans and receivables as of December 31, 2022 and 2021:


	As of December 31, 2022
				Accounts Classified as a TDR (c)
2022 (Millions)	Over 90 days Past Due & Accruing Interest (a)	Non- Accruals (b)		In Program (d)	Out of Program (e)		Total Impaired Balance		Reserve for Credit Losses- TDRs
Card Member Loans
Consumer	252	155		781	1,098		2,286		335
Small Business	54	34		267	380		735		108
Corporate	—	—		—	—		—		—
Card Member Receivables
Consumer	—	—		257	179		436		20
Small Business	—	—		403	402		805		40
Corporate	—	—		6	7		13		1
Other Loans	3	2		19	2		26		—
Total	309	$	191	1,733	$	2,068	$	4,301	$	504


	As of December 31, 2021
				Accounts Classified as a TDR (c)
2021 (Millions)	Over 90 days Past Due & Accruing Interest (a)	Non- Accruals (b)		In Program (d)	Out of Program (e)		Total Impaired Balance		Reserve for Credit Losses- TDRs
Card Member Loans
Consumer	149	82		708	997		1,936		415
Small Business	19	14		176	332		541		132
Corporate	—	—		—	—		—		—
Card Member Receivables
Consumer	—	—		133	130		263		9
Small Business	—	—		247	297		544		39
Corporate	—	—		1	6		7		—
Other Loans	1	—		67	2		70		1
Total	169	$	96	1,332	$	1,764	$	3,361	$	596

(a)Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected. Amounts presented exclude loans classified as a TDR.

(b)Non-accrual loans not in modification programs primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Amounts presented exclude loans classified as TDRs.

(c)Accounts classified as a TDR include $48 million and $41 million that were over 90 days past due and accruing interest and $17 million and $19 million that were non-accruals as of December 31, 2022 and 2021, respectively.

(e)Out of Program TDRs include $1,922 million and $1,621 million of accounts that have successfully completed a modification program and $146 million and $143 million of accounts that were not in compliance with the terms of the modification programs as of December 31, 2022 and 2021, respectively.


2022	Number of Accounts (Thousands)	Account Balances (Millions) (a)		Average Interest Rate Reduction (% points)	Average Payment Term Extensions (# of months)
Troubled Debt Restructurings:
Card Member Loans	149	$	1,002	14	(b)
Card Member Receivables	27	900		(c)	20
Other Loans (d)	4	$	8	2	17
Total	180	$	1,910


2021	Number of Accounts (Thousands)	Account Balances (Millions) (a)		Average Interest Rate Reduction (% points)	Average Payment Term Extensions (# of months)
Troubled Debt Restructurings:
Card Member Loans	112	$	789	13	(b)
Card Member Receivables	21	437		(c)	18
Other Loans (d)	4	$	13	3	16
Total	137	$	1,239

(a)Represents the outstanding balance immediately prior to modification. The outstanding balance includes principal, fees and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance.

The following tables provide information with respect to loans and receivables modified as TDRs that subsequently defaulted within twelve months of modification. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program.


2022	Number of Accounts (Thousands)	Aggregated Outstanding Balances Upon Default (Millions) (a)
Troubled Debt Restructurings That Subsequently Defaulted:
Card Member Loans	14	$	81
Card Member Receivables	3	38
Other Loans (b)	1	1
Total	18	$	120


2021	Number of Accounts (Thousands)	Aggregated Outstanding Balances Upon Default (Millions) (a)
Troubled Debt Restructurings That Subsequently Defaulted:
Card Member Loans	24	$	174
Card Member Receivables	5	56
Other Loans (b)	3	9
Total	32	$	239