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Loans and Card Member Receivables (Tables)

9 Months Ended

Sep. 30, 2024

Card Member and Other loans as of September 30, 2024 and December 31, 2023 consisted of:


(Millions)	2024		2023
Consumer (a)	$	102,236	$	98,111
Small Business	32,275		27,833
Corporate	37		51
Card Member loans	134,548		125,995
Less: Reserves for credit losses	5,588		5,118
Card Member loans, net	$	128,960	$	120,877
Other loans, net (b)	$	8,306	$	6,960

(a)Includes approximately $26.9 billion and $28.6 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of September 30, 2024 and December 31, 2023, respectively.

(b)Other loans are presented net of reserves for credit losses of $154 million and $126 million as of September 30, 2024 and December 31, 2023, respectively.

Card Member receivables as of September 30, 2024 and December 31, 2023 consisted of:


(Millions)	2024		2023
Consumer	$	23,426	$	25,578
Small Business	18,925		19,286
Corporate (a)	16,691		15,547
Card Member receivables	59,042		60,411
Less: Reserves for credit losses	156		174
Card Member receivables, net	$	58,886	$	60,237

(a)Includes $4.5 billion and $4.6 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of September 30, 2024 and December 31, 2023, respectively.

Aging of receivables

The following tables present the aging of Card Member loans and receivables as of September 30, 2024 and December 31, 2023:


2024 (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	$	100,819	$	446	$	327	$	644	$	102,236	$	409	$	391
Small Business	31,813		154		108		200		32,275		125		116
Corporate (a)	(b)		(b)		(b)		—		37		—		—
Card Member Receivables:
Consumer	23,245		59		41		81		23,426		—		—
Small Business	$	18,704	$	83	$	51	87		18,925		—		—
Corporate (a)	(b)		(b)		(b)		$	67	$	16,691	$	—	$	—


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	$	—	$	—

(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.

(c)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.

(d)Non-accrual loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest.

Credit quality indicators for loans and receivables

The following table presents the key credit quality indicators as of or for the nine months ended September 30:


	2024						2023
	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	2.2	%	2.8	%	1.4	%	1.7	%	2.1	%	1.3	%
Small Business	2.2	%	2.6	%	1.4	%	1.5	%	1.8	%	1.3	%
Card Member Receivables:
Consumer	1.3	%	1.4	%	0.8	%	1.6	%	1.7	%	1.0	%
Small Business	2.0	%	2.1	%	1.2	%	2.3	%	2.4	%	1.3	%
Corporate	(b)		0.6	%	(c)		(b)		0.6	%	(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.

(b)Net write-off rate based on principal losses only is not available due to system constraints.

(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 0.5% as of September 30, 2024 and 2023, respectively.

Modifications of loans and receivables

The following tables provide information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the three and nine months ended September 30, 2024 and 2023:


	Three Months Ended September 30,
	2024							2023
	Account Balances (Millions) (a)		% of Total Class of Financing Receivables		Weighted Average Interest Rate Reduction (% points)		Weighted Average Payment Term Extensions (# of months)	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	$	511	0.5	%	18.3	%	(b)	$	542	0.6	%	16.4	%	(b)
Small Business	185		0.6	%	17.6	%	(b)	167		0.6	%	15.9	%	(b)
Corporate	—		—		—		(b)	—		—		—		(b)
Term Extension
Card Member Receivables
Consumer	89		0.4	%	(c)		31	126		0.6	%	(c)		30
Small Business	138		0.7	%	(c)		31	181		0.9	%	(c)		30
Corporate	9		0.1	%	(c)		10	4		0.02	%	(c)		10
Other Loans	8		0.1	%	—		16	8		0.1	%	—		19
Interest Rate Reduction and Term Extension
Other Loans	16		0.2	%	2.5	%	20	16		0.2	%	2.1	%	20
Total	$	956						$	1,044


	Nine Months Ended September 30,
	2024							2023
	Account Balances (Millions) (a)		% of Total Class of Financing Receivables		Weighted Average Interest Rate Reduction (% points)		Weighted Average Payment Term Extensions (# of months)	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	$	1,438	1.4	%	18.2	%	(b)	$	1,113	1.2	%	16.1	%	(b)
Small Business	514		1.6	%	17.5	%	(b)	411		1.5	%	15.7	%	(b)
Corporate	—		—		—		(b)	—		—		—		(b)
Term Extension
Card Member Receivables
Consumer	232		1.0	%	(c)		30	282		1.3	%	(c)		27
Small Business	359		1.9	%	(c)		30	455		2.3	%	(c)		27
Corporate	15		0.1	%	(c)		9	12		0.1	%	(c)		10
Other Loans	26		0.3	%	—		18	19		0.3	%	—		18
Interest Rate Reduction and Term Extension
Other Loans	46		0.5	%	2.5	%	20	28		0.4	%	2.0	%	19
Total	$	2,630						$	2,320

(a)Represents the outstanding balances as of September 30, 2024 and 2023 of all modifications undertaken in the prior three and nine months, respectively, for loans and receivables that remain in modification programs as of, or that defaulted on or before, September 30, 2024 and 2023, respectively. The outstanding balances include principal, fees, and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance.

(b)For Card Member loans, we generally do not offer payment term extensions.

(c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.

The following table provides information relating to the performance of loans and receivables that were modified during the prior twelve months and that remain in modification programs as of, or that defaulted on or before, September 30, 2024:


	As of September 30, 2024
Account Balances (Millions) (a)	Current		30-89 Days Past Due		90+ Days Past Due
Card Member Loans
Consumer	$	1,647	$	124	$	48
Small Business	556		59		23
Corporate	—		—		—
Card Member Receivables:
Consumer	261		19		6
Small Business	386		41		14
Corporate	11		3		2
Other Loans	78		6		2
Total	$	2,939	$	252	$	95

(a)The outstanding balance as of September 30, 2024 includes principal, fees and accrued interest on loans and principal and fees on receivables.

The following table provides information relating to the performance of loans and receivables that were modified on or after January 1, 2023 and that remained in modification programs as of, or that defaulted on or before, September 30, 2023:


	As of September 30, 2023
Account Balances (Millions) (a)	Current		30-89 Days Past Due		90+ Days Past Due
Card Member Loans
Consumer	$	1,020	$	73	$	20
Small Business	366		34		11
Corporate	—		—		—
Card Member Receivables:
Consumer	257		20		5
Small Business	402		43		10
Corporate	9		2		1
Other Loans	42		4		1
Total	$	2,096	$	176	$	48

(a)The outstanding balance as of September 30, 2023 includes principal, fees and accrued interest on loans and principal and fees on receivables.

Modified loans and receivables that subsequently defaulted

The following table provides information with respect to modified loans and receivables that defaulted during the periods presented and were modified in the twelve months prior to the payment default. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program. For loans and receivables modified on or after January 1, 2023, the amounts of defaulted balances were immaterial for the three and nine months ended September 30, 2023.



	Three Months Ended September 30, 2024								Nine Months Ended September 30, 2024
Account Balance (Millions) (a)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total		Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total
Card Member Loans
Consumer	$	52	(b)		$	—	$	52	$	75	(b)		$	—	$	75
Small Business	23		(b)		—		23		33		(b)		—		33
Corporate	—		(b)		—		—		—		(b)		—		—
Card Member Receivables
Consumer	(c)		$	6	—		6		(c)		$	8	—		8
Small Business	(c)		12		—		12		(c)		16		—		16
Corporate	(c)		—		—		—		(c)		—		—		—
Other Loans	—		—		2		2		—		—		2		2
Total	$	75	$	18	$	2	$	95	$	108	$	24	$	2	$	134

(a)Represents the outstanding balances as of September 30, 2024 of all modifications that defaulted in the three and nine months ended September 30, 2024, respectively, and were modified in the twelve months prior to payment default. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.

(b)For Card Member loans, we generally do not offer payment term extensions.

(c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.