Our lending and charge payment card products result in the generation of Card Member loans and Card Member receivables. We also extend credit to consumer and commercial customers through non-card financing products, resulting in Other loans. Reserves for reporting periods beginning on and after January 1, 2020 are presented using the CECL methodology, while information as of and for the year ended December 31, 2019 continues to be reported in accordance with the incurred loss methodology then in effect.

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.


(Millions)	2021		2020
Global Consumer Services Group (a)	$	70,467	$	60,084
Global Commercial Services	18,095		13,289
Card Member loans	88,562		73,373
Less: Reserves for credit losses	3,305		5,344
Card Member loans, net	$	85,257	$	68,029
Other loans, net (b)	$	2,859	$	2,614

(b)Other loans represent consumer and commercial non-card financing products, and Small Business Administration Paycheck Protection Program (PPP) loans. There were $36 million and $630 million of gross PPP loans outstanding as of December 31, 2021 and 2020, respectively. Other loans are presented net of reserves for credit losses of $52 million and $238 million as of December 31, 2021 and 2020, respectively.

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.


(Millions)	2021		2020
Global Consumer Services Group	$	22,392	$	18,685
Global Commercial Services (a)	31,253		25,016
Card Member receivables	53,645		43,701
Less: Reserves for credit losses	64		267
Card Member receivables, net	$	53,581	$	43,434

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, 2021 and 2020:


2021 (Millions)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total
Card Member Loans:
Global Consumer Services Group	$	69,960	$	158	$	112	$	237	$	70,467
Global Commercial Services
Global Small Business Services	17,950		34		19		37		18,040
Global Corporate Payments (a)	(b)		(b)		(b)		—		55
Card Member Receivables:
Global Consumer Services Group	22,279		41		24		48		22,392
Global Commercial Services
Global Small Business Services	$	17,846	$	59	$	28	$	44	$	17,977
Global Corporate Payments (a)	(b)		(b)		(b)		$	42	$	13,276


2020 (Millions)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total
Card Member Loans:
Global Consumer Services Group	$	59,442	$	177	$	148	$	317	$	60,084
Global Commercial Services
Global Small Business Services	13,132		27		20		47		13,226
Global Corporate Payments (a)	(b)		(b)		(b)		—		63
Card Member Receivables:
Global Consumer Services Group	18,570		33		26		56		18,685
Global Commercial Services
Global Small Business Services	$	14,023	$	37	$	21	$	38	$	14,119
Global Corporate Payments (a)	(b)		(b)		(b)		$	60	$	10,897

(a)Global Corporate Payments (GCP) reflects global, large and middle market 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.


	2021						2020
	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:
Global Consumer Services Group	0.9	%	1.3	%	0.7	%	2.5	%	3.0	%	1.1	%
Global Small Business Services	0.6	%	0.8	%	0.5	%	2.1	%	2.4	%	0.7	%
Card Member Receivables:
Global Consumer Services Group	0.3	%	0.4	%	0.5	%	1.7	%	1.9	%	0.6	%
Global Small Business Services	0.3	%	0.4	%	0.7	%	2.1	%	2.3	%	0.7	%
Global Corporate Payments (d)	(b)		—	%	(c)		(b)		1.9	%	(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 GCP Card Member 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 0.3% and 0.6% as of December 31, 2021 and 2020, respectively.

(d)The net write-off rate for the year ended December 31, 2021 includes a $37 million partial recovery in Card Member receivables related to a corporate client bankruptcy, which had resulted in a $53 million write-off in the year ended December 21, 2020.

Impaired loans and receivables are individual larger balance or homogeneous pools of smaller balance loans and receivables for which it is probable that we will be unable to collect all amounts due according to the original contractual terms of the customer agreement. We consider impaired loans and receivables to include (i) loans over 90 days past due still accruing interest, (ii) non-accrual loans and (iii) loans and receivables modified as troubled debt restructurings (TDRs).

In instances where the customer is experiencing financial difficulty, we may modify, through various financial relief programs, loans and receivables with the intention to minimize losses and improve collectability, while providing customers with temporary or permanent financial relief. We have classified loans and receivables in these modification programs as TDRs and continue to classify customer accounts that have exited a modification program as a TDR, with such accounts identified as “Out of Program TDRs.”

Such modifications to the loans and receivables primarily include (i) temporary interest rate reductions (possibly as low as zero percent, in which case the loan is characterized as non-accrual in our TDR disclosures), (ii) placing the customer on a fixed payment plan not to exceed 60 months and (iii) suspending delinquency fees until the customer exits the modification program. Upon entering the modification program, the customer’s ability to make future purchases is either limited, canceled, or in certain cases suspended until the customer successfully exits from the modification program. In accordance with the modification agreement with the customer, loans and/or receivables may revert back to the original contractual terms (including the contractual interest rate where applicable) when the customer exits the modification program, which is (i) when all payments have been made in accordance with the modification agreement or (ii) when the customer defaults out of the modification program.

Reserves for modifications deemed TDRs are measured individually and incorporate a discounted cash flow model. All changes in the impairment measurement are included within provisions for credit losses.

In response to the COVID-19 pandemic, the United States enacted legislation that provided the option to temporarily suspend (i) certain requirements under U.S. GAAP for loan modifications related to the COVID-19 pandemic that would otherwise be treated as TDRs and (ii) any determination that a loan modified as a result of the COVID-19 pandemic is a TDR (including impairment for accounting purposes). Based on the nature of our programs, we have not elected the accounting and reporting relief afforded by this legislation and continue to report modifications as TDRs.

In the first quarter of 2020, we created a Customer Pandemic Relief (CPR) program for customers who had been impacted by the COVID-19 pandemic to provide a concession in the form of payment deferrals and waivers of certain fees and interest. We assessed the CPR program and determined that eligible loan modifications were temporary in nature, for example, less than three months, and not considered TDRs. Our short-term CPR programs are no longer widely available and have no remaining balances in the program as of December 31, 2021.


	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:
Global Consumer Services Group	$	149	$	82	$	708	$	997	$	1,936	$	415
Global Commercial Services	19		14		176		332		541		132
Card Member Receivables:
Global Consumer Services Group	—		—		133		130		263		9
Global Commercial Services	—		—		248		303		551		39
Other Loans (f)	1		—		67		2		70		1
Total	$	169	$	96	$	1,332	$	1,764	$	3,361	$	596


	As of December 31, 2020
					Accounts Classified as a TDR (c)
2020 (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:
Global Consumer Services Group	$	203	$	146	$	1,586	$	248	$	2,183	$	782
Global Commercial Services	21		29		478		67		595		285
Card Member Receivables:
Global Consumer Services Group	—		—		240		34		274		60
Global Commercial Services	—		—		534		75		609		139
Other Loans (f)	2		1		248		6		257		80
Total	$	226	$	176	$	3,086	$	430	$	3,918	$	1,346


	As of December 31, 2019
					Accounts Classified as a TDR (c)
2019 (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:
Global Consumer Services Group	$	384	$	284	$	500	$	175	$	1,343	$	137
Global Commercial Services	44		54		97		38		233		22
Card Member Receivables:
Global Consumer Services Group	—		—		56		16		72		3
Global Commercial Services	—		—		109		30		139		6
Total	$	428	$	338	$	762	$	259	$	1,787	$	168

(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 $41 million, $32 million and $26 million that are over 90 days past due and accruing interest and $19 million, $11 million and $10 million that are non-accruals as of December 31, 2021, 2020 and 2019, respectively.

(e)Out of Program TDRs include $1,621 million, $316 million and $188 million of accounts that have successfully completed a modification program and $143 million, $114 million and $72 million of accounts that were not in compliance with the terms of the modification programs as of December 31, 2021, 2020 and 2019, respectively.


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


2020	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	272	$	2,347	14	(b)
Card Member Receivables	47	1,202		(c)	19
Other Loans (d)	9	$	345	3	16
Total	328	$	3,894


2019	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	78	$	602	13	(b)
Card Member Receivables	9	210		(c)	26
Total	87	$	812

(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.


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


2020	Number of Accounts (thousands)	Aggregated Outstanding Balances Upon Default (millions) (a)
Troubled Debt Restructurings That Subsequently Defaulted:
Card Member Loans	17	$	127
Card Member Receivables	3	55
Other Loans (b)	3	6
Total	23	$	188


2019	Number of Accounts (thousands)	Aggregated Outstanding Balances Upon Default (millions) (a)
Troubled Debt Restructurings That Subsequently Defaulted:
Card Member Loans	12	$	86
Card Member Receivables	4	20
Total	16	$	106