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Loans and Card Member Receivables (Tables)

12 Months Ended

Dec. 31, 2021

Card Member loans by segment and Other loans as of December 31, 2021 and 2020 consisted of:


(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

(a)Includes approximately $26.6 billion and $25.9 billion of gross Card Member loans available to settle obligations of a consolidated VIE as of December 31, 2021 and 2020, respectively.

(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 by segment as of December 31, 2021 and 2020 consisted of:


(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

(a)Includes $5.2 billion and $4.3 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of December 31, 2021 and 2020, respectively.

Aging of receivables

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.

Credit quality indicators for loans and receivables

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


	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.

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

(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 Card Member loans and receivables

The following tables provide additional information with respect to our impaired loans and receivables as of December 31, 2021, 2020 and 2019.


	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.

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

(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.

(f)Other loans primarily represent consumer and commercial non-card financing products. Balances as of December 31, 2019 were not significant.

Troubled debt restructurings

The following tables provide additional information with respect to loans and receivables that were modified as TDRs during the years ended December 31:


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.

(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 and commercial non-card financing products. Balances for the year ended December 31, 2019 were not significant.

Troubled debt restructurings that subsequently defaulted

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

(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 and commercial non-card financing products. Balances for the year ended December 31, 2019 were not significant.