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Loans and Card Member Receivables (Tables)

12 Months Ended

Dec. 31, 2024

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

TABLE 2.1: CARD MEMBER AND OTHER LOANS


(Millions)	2024		2023
Consumer (a)	$	107,646	$	98,111
Small Business	31,991		27,833
Corporate	37		51
Card Member loans	139,674		125,995
Less: Reserves for credit losses	5,679		5,118
Card Member loans, net	$	133,995	$	120,877
Other loans, net (b)	$	9,038	$	6,960

(a)Includes approximately $28.3 billion and $28.6 billion of gross Card Member loans available to settle obligations of a consolidated VIE as of December 31, 2024 and 2023, respectively.

(b)Other loans are presented net of reserves for credit losses of $194 million and $126 million as of December 31, 2024 and 2023, respectively.

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

TABLE 2.2: CARD MEMBER RECEIVABLES


(Millions)	2024		2023
Consumer	$	25,431	$	25,578
Small Business	18,619		19,286
Corporate(a)	15,361		15,547
Card Member receivables	59,411		60,411
Less: Reserves for credit losses	171		174
Card Member receivables, net	$	59,240	$	60,237

(a)Includes $3.9 billion and $4.6 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of December 31, 2024 and 2023, respectively.

Aging of receivables

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

TABLE 2.3: CARD MEMBER LOANS AND RECEIVABLES AGING


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	$	106,155	$	437	$	329	$	725	$	107,646	$	435	$	464
Small Business	31,510		151		107		223		31,991		132		135
Corporate (a)	(b)		(b)		(b)		—		37		—		—
Card Member Receivables:
Consumer	$	25,255	$	58	$	39	$	79	$	25,431	$	—	$	—
Small Business	18,400		77		54		88		18,619		—		—
Corporate (a)	(b)		(b)		(b)		65		15,361		—		—


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 has not historically been available due to system constraints. Therefore, such data has not been a material input for risk management purposes. The balances that are current to 89 days past billing 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.

The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:

TABLE 2.8: IMPAIRED LOANS AND RECEIVABLES


	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

(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 that were over 90 days past due and accruing interest and $17 million that were non-accruals as of December 31, 2022.

(d)In Program TDRs include accounts that are currently enrolled in a modification program.

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

Credit quality indicators for loans and receivables

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

TABLE 2.4: CREDIT QUALITY INDICATORS FOR CARD MEMBER LOANS AND RECEIVABLES


	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	%	2.7	%	1.4	%	1.8	%	2.2	%	1.4	%
Small Business	2.3	%	2.6	%	1.5	%	1.7	%	1.9	%	1.4	%
Card Member Receivables:
Consumer	1.2	%	1.3	%	0.7	%	1.5	%	1.6	%	0.9	%
Small Business	1.9	%	2.0	%	1.2	%	2.2	%	2.4	%	1.4	%
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% as of both December 31, 2024 and 2023.

Modifications of loans and receivables

The following tables provide information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023:

TABLE 2.5: LOANS AND RECEIVABLES MODIFICATIONS FOR BORROWERS EXPERIENCING FINANCIAL DIFFICULTY


	Year Ended December 31, 2024

2024 (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	$	1,770	1.6	%	18.3	%	(b)
Small Business	646		2.0	%	17.5	%	(b)
Corporate	—		—		—		(b)
Term Extension
Card Member Receivables
Consumer	256		1.0	%	(c)		30
Small Business	401		2.2	%	(c)		30
Corporate	13		0.1	%	(c)		9
Other Loans	30		0.3	%	—		18
Interest Rate Reduction and Term Extension
Other Loans	56		0.6	%	2.6	%	20
Total	$	3,172



	Year Ended 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, 2024 and 2023, respectively, of all modifications undertaken in the current and preceding year for loans and receivables that remain in modification programs as of, or that defaulted on or before, December 31, 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 tables provide information with respect to loans and receivables modified on or after January 1, 2023 that defaulted in 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.

TABLE 2.6: MODIFIED LOANS AND RECEIVABLES THAT DEFAULTED WITHIN TWELVE MONTHS OF MODIFICATION


	Year Ended December 31, 2024
Account Balance (Millions) (a)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total
Card Member Loans
Consumer	$	88	(b)		$	—	$	88
Small Business	40		(b)		—		40
Corporate	—		(b)		—		—
Card Member Receivables
Consumer	(c)		$	10	—		10
Small Business	(c)		17		—		17
Corporate	(c)		—		—		—
Other Loans	—		—		2		2
Total	$	128	$	27	$	2	$	157


	Year Ended 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, 2024 and 2023, respectively, of all modifications undertaken on or after January 1, 2023 that defaulted in the periods presented 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.

The following tables provide information relating to the performance of loans and receivables that were modified during the years ended December 31, 2024 and 2023 and that remain in modification programs as of, or that defaulted on or before, December 31, 2024 and 2023, respectively:

TABLE 2.7: PERFORMANCE OF MODIFIED LOANS AND RECEIVABLES


	As of December 31, 2024
Account Balances (Millions) (a)	Current		30-89 Days Past Due		90+ Days Past Due
Card Member Loans
Consumer	$	1,615	$	110	$	45
Small Business	568		56		22
Corporate	—		—		—
Card Member Receivables:
Consumer	234		16		6
Small Business	357		31		13
Corporate	10		2		1
Other Loans	79		5		2
Total	$	2,863	$	220	$	89


	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)The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.

The following table provides additional information with respect to loans and receivables that were modified as TDRs during the year ended December 31, 2022:

TABLE 2.9: LOANS AND RECEIVABLES MODIFIED AS TDRs


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

(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.

(b)For Card Member loans, there have been no payment term extensions.

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

(d)Other loans primarily represent consumer installment loans and lines of credit offered to small business customers.

Impaired card member loans and receivables

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

TABLE 2.3: CARD MEMBER LOANS AND RECEIVABLES AGING


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	$	106,155	$	437	$	329	$	725	$	107,646	$	435	$	464
Small Business	31,510		151		107		223		31,991		132		135
Corporate (a)	(b)		(b)		(b)		—		37		—		—
Card Member Receivables:
Consumer	$	25,255	$	58	$	39	$	79	$	25,431	$	—	$	—
Small Business	18,400		77		54		88		18,619		—		—
Corporate (a)	(b)		(b)		(b)		65		15,361		—		—


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		—		—

(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.

The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:

TABLE 2.8: IMPAIRED LOANS AND RECEIVABLES


	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

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

(d)In Program TDRs include accounts that are currently enrolled in a modification program.

Troubled debt restructurings on financing receivables with subsequent default

The following table provides 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.

TABLE 2.10: LOANS AND RECEIVABLES MODIFIED AS TDRs THAT DEFAULTED WITHIN TWELVE MONTHS OF MODIFICATION


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

(a)The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.

(b)Other loans primarily represent consumer installment loans and lines of credit offered to small business customers.