Variable Interest Entity

6 Months Ended

Jun. 30, 2015

Variable Interest Entity [Abstract]

Variable Interest Entity

6. Variable Interest Entity

Credco has established a Variable Interest Entity (VIE), American Express Canada Credit Corporation (AECCC), used primarily to loan funds to affiliates,through the issuance of notes in Canada under a medium-term note program. All notes issued under this program are fully guaranteed by Credco. Credco is considered the primary beneficiary of the entity and owns all of the outstanding voting interests and, therefore, consolidates the entity in accordance with accounting guidance governing consolidation of VIEs.Total assets as of June 30, 2015 and December 31, 2014 were $1.9 billion and $2.1 billion, respectively,the majority of which were eliminated in consolidation. Total liabilities as of June 30, 2015 and December 31, 2014 were $1.9 billion and$2.0 billion, respectively. As of June 30, 2015 and December 31, 2014, $910 million and $969 million, respectively, of liabilities were eliminated in consolidation.The assets of the VIE are not used solely to settle the obligations of the VIE. The note holders of the VIE have recourse to Credco.