Loan Receivables and Allowance for Credit Losses (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Receivables [Abstract] |
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| Schedule of Accounts, Notes, Loans and Financing Receivable |
| | | | | | | | | | | | | ($ in millions) | September 30, 2026 | | December 31, 2025 | | Credit cards | $ | 95,526 | | | $ | 96,346 | | | Consumer installment loans | 5,109 | | | 5,548 | | | Commercial credit products | 2,644 | | | 1,833 | | | Other | 67 | | | 81 | | Total loan receivables, before allowance for credit losses(a)(b)(c) | $ | 103,346 | | | $ | 103,808 | |
_______________________ (a)Total loan receivables include $21.9 billion and $22.4 billion of restricted loans of consolidated securitization entities at September 30, 2026 and December 31, 2025, respectively. See Note 5. Variable Interest Entities for further information. (b)At September 30, 2026 and December 31, 2025, loan receivables included deferred costs, net of purchase discounts and deferred income, of $25 million and $(53) million, respectively. (c)At September 30, 2026 and December 31, 2025, $18.4 billion and $18.3 billion, respectively, of loan receivables were pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve discount window advances.
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| Allowance for Credit Losses on Financing Receivables |
Allowance for Credit Losses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in millions) | Balance at
July 1, 2026 | | Provision charged to operations | | Gross charge-offs | | Recoveries | | Other | | Balance at
September 30, 2026 | | Credit cards | $ | 9,610 | | | $ | 1,195 | | | $ | (1,532) | | | $ | 399 | | | $ | — | | | $ | 9,672 | | | Consumer installment loans | 491 | | | 55 | | | (84) | | | 13 | | | — | | | 475 | | | Commercial credit products | 210 | | | 15 | | | (36) | | | 4 | | | — | | | 193 | | | Other | 1 | | | — | | | — | | | — | | | — | | | 1 | | | Total | $ | 10,312 | | | $ | 1,265 | | | $ | (1,652) | | | $ | 416 | | | $ | — | | | $ | 10,341 | |
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July 1, 2025 | | Provision charged to operations(a) | | Gross charge-offs | | Recoveries | | Other | | Balance at
September 30, 2025 | | Credit cards | $ | 9,906 | | | $ | 964 | | | $ | (1,553) | | | $ | 356 | | | $ | 6 | | | $ | 9,679 | | | Consumer installment loans | 545 | | | 102 | | | (91) | | | 17 | | | — | | | 573 | | | Commercial credit products | 112 | | | 34 | | | (29) | | | 3 | | | — | | | 120 | | | Other | 1 | | | 1 | | | (1) | | | — | | | — | | | 1 | | | Total | $ | 10,564 | | | $ | 1,101 | | | $ | (1,674) | | | $ | 376 | | | $ | 6 | | | $ | 10,373 | |
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January 1, 2026 | | Provision charged to operations(a) | | Gross charge-offs | | Recoveries | | Other(b) | | Balance at
September 30, 2026 | | Credit cards | $ | 9,789 | | | $ | 3,485 | | | $ | (4,827) | | | $ | 1,225 | | | $ | — | | | $ | 9,672 | | | Consumer installment loans | 543 | | | 182 | | | (295) | | | 45 | | | — | | | 475 | | | Commercial credit products | 109 | | | 131 | | | (104) | | | 10 | | | 47 | | | 193 | | | Other | 1 | | | — | | | — | | | — | | | — | | | 1 | | | Total | $ | 10,442 | | | $ | 3,798 | | | $ | (5,226) | | | $ | 1,280 | | | $ | 47 | | | $ | 10,341 | |
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January 1, 2025 | | | | | | Provision charged to operations(a) | | Gross charge-offs | | Recoveries | | Other | | Balance at
September 30, 2025 | | Credit cards | $ | 10,259 | | | | | | | $ | 3,377 | | | $ | (5,049) | | | $ | 1,086 | | | $ | 6 | | | $ | 9,679 | | | Consumer installment loans | 542 | | | | | | | 275 | | | (293) | | | 49 | | | — | | | 573 | | | Commercial credit products | 127 | | | | | | | 82 | | | (97) | | | 8 | | | — | | | 120 | | | Other | 1 | | | | | | | 1 | | | (1) | | | — | | | — | | | 1 | | | Total | $ | 10,929 | | | | | | | $ | 3,735 | | | $ | (5,440) | | | $ | 1,143 | | | $ | 6 | | | $ | 10,373 | |
_______________________ (a)Provision for credit losses in our Condensed Consolidated Statements of Earnings also includes amounts associated with off-balance sheet credit exposures recorded in Accrued expenses and other liabilities in our Condensed Consolidated Statements of Financial Position. (b)Primarily represents allowance for credit losses associated with a loan portfolio purchase completed in the nine months ended September 30, 2026, previously recorded in Accrued expenses and other liabilities in our Condensed Consolidated Statements of Financial Position.
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| Past Due Financing Receivables |
Delinquent and Non-accrual Loans The following tables provide information on our delinquent and non-accrual loan receivables: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | At September 30, 2026 ($ in millions) | 30-89 days delinquent | | 90 or more days delinquent | | Total past due | | 90 or more days delinquent and accruing | | Total non-accruing | | Credit cards | $ | 2,170 | | | $ | 2,058 | | | $ | 4,228 | | | $ | 2,058 | | | $ | — | | | Consumer installment loans | 127 | | | 32 | | | 159 | | | — | | | 32 | | | Commercial credit products | 55 | | | 40 | | | 95 | | | 40 | | | — | | | | | | | | | | | | | Total delinquent loans | $ | 2,352 | | | $ | 2,130 | | | $ | 4,482 | | | $ | 2,098 | | | $ | 32 | | | Percentage of total loan receivables | 2.3 | % | | 2.0 | % | | 4.3 | % | | 2.0 | % | | — | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | At December 31, 2025 ($ in millions) | 30-89 days delinquent | | 90 or more days delinquent | | Total past due | | 90 or more days delinquent and accruing | | Total non-accruing | | Credit cards | $ | 2,223 | | | $ | 2,181 | | | $ | 4,404 | | | $ | 2,181 | | | $ | — | | | Consumer installment loans | 144 | | | 31 | | | 175 | | | — | | | 31 | | | Commercial credit products | 45 | | | 36 | | | 81 | | | 36 | | | — | | | | | | | | | | | | | Total delinquent loans | $ | 2,412 | | | $ | 2,248 | | | $ | 4,660 | | | $ | 2,217 | | | $ | 31 | | | Percentage of total loan receivables | 2.3 | % | | 2.2 | % | | 4.5 | % | | 2.1 | % | | — | % |
Consumer Installment Loans by Origination Year | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | By origination year | | | At September 30, 2026 ($ in millions) | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Total | | Amortized cost basis | $ | 1,387 | | | $ | 1,299 | | | $ | 1,031 | | | $ | 747 | | | $ | 463 | | | $ | 182 | | | $ | 5,109 | | | 30-89 days delinquent | $ | 22 | | | $ | 28 | | | $ | 28 | | | $ | 24 | | | $ | 17 | | | $ | 8 | | | $ | 127 | | | 90 or more days delinquent | $ | 5 | | | $ | 8 | | | $ | 7 | | | $ | 7 | | | $ | 3 | | | $ | 2 | | | $ | 32 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | By origination year | | | | At December 31, 2025 ($ in millions) | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Total | | Amortized cost basis | $ | 1,959 | | | $ | 1,524 | | | $ | 1,091 | | | $ | 655 | | | $ | 241 | | | $ | 78 | | | $ | 5,548 | | | 30-89 days delinquent | $ | 37 | | | $ | 37 | | | $ | 35 | | | $ | 23 | | | $ | 9 | | | $ | 3 | | | $ | 144 | | | 90 or more days delinquent | $ | 9 | | | $ | 9 | | | $ | 7 | | | $ | 4 | | | $ | 1 | | | $ | 1 | | | $ | 31 | |
Gross Charge-offs for Consumer Installment Loans by Origination Year | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | By origination year | | | For the nine months ended ($ in millions) | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Total | September 30, 2026 | $ | 25 | | | $ | 93 | | | $ | 66 | | | $ | 56 | | | $ | 39 | | | $ | 16 | | | $ | 295 | | September 30, 2025 | $ | — | | | $ | 10 | | | $ | 101 | | | $ | 91 | | | $ | 62 | | | $ | 29 | | | $ | 293 | |
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| Financing Receivable Credit Quality Indicators |
The table below excludes 0.3%, 0.4% and 0.4% of our total loan receivables balance for our credit cards and commercial credit products at September 30, 2026, December 31, 2025 and September 30, 2025, respectively, which represents those customer accounts for which a VantageScore credit score, or equivalent, is not available. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | September 30, 2025 | | 651 or | | 591 to | | 590 or | | 651 or | | 591 to | | 590 or | | 651 or | | 591 to | | 590 or | | higher | | 650 | | | less | | higher | | 650 | | | less | | higher | | 650 | | | less | | Credit cards | 74 | % | | 18 | % | | 8 | % | | 74 | % | | 18 | % | | 8 | % | | 73 | % | | 19 | % | | 8 | % | | | | | | | | | | | | | | | | | | | | Commercial credit products | 80 | % | | 12 | % | | 8 | % | | 83 | % | | 11 | % | | 6 | % | | 83 | % | | 11 | % | | 6 | % |
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| Schedule of Loan Modifications to Borrowers Experiencing Financial Difficulty |
The following tables provide information on our loan modifications made to borrowers experiencing financial difficulty during the periods presented, which do not include loans that are classified as loan receivables held for sale: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | 2026 | | | 2025 | | ($ in millions) | Amount | | % of Total Class of Loan Receivables | | | | | Amount | | % of Total Class of Loan Receivables | | Long-term modifications | | | | | | | | | | | | Credit cards | $ | 364 | | | 0.4 | % | | | | | $ | 406 | | | 0.4 | % | | Consumer installment loans | — | | | — | % | | | | | — | | | — | % | | Commercial credit products | 6 | | | 0.2 | % | | | | | 2 | | | 0.1 | % | | Short-term modifications | | | | | | | | | | | | Credit cards | 191 | | | 0.2 | % | | | | | 203 | | | 0.2 | % | | Consumer installment loans | — | | | — | % | | | | | — | | | — | % | | Commercial credit products | 1 | | | — | % | | | | | 1 | | | — | % | | Total | $ | 562 | | | 0.5 | % | | | | | $ | 612 | | | 0.6 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, | 2026 | | | 2025 | | ($ in millions) | Amount(a) | | % of Total Class of Loan Receivables | | | | | Amount | | % of Total Class of Loan Receivables | | Long-term modifications | | | | | | | | | | | | Credit cards | $ | 1,103 | | | 1.2 | % | | | | | $ | 1,228 | | | 1.3 | % | | Consumer installment loans | — | | | — | % | | | | | — | | | — | % | | Commercial credit products | 12 | | | 0.5 | % | | | | | 7 | | | 0.4 | % | | Short-term modifications | | | | | | | | | | | | Credit cards | 605 | | | 0.6 | % | | | | | 664 | | | 0.7 | % | | Consumer installment loans | — | | | — | % | | | | | — | | | — | % | | Commercial credit products | 2 | | | 0.1 | % | | | | | 2 | | | — | % | | Total | $ | 1,722 | | | 1.7 | % | | | | | $ | 1,901 | | | 1.9 | % |
_______________________ (a)Represents balance at enrollment date. Long-term and short-term loan modifications made to borrowers for the nine months ended September 30, 2026 had amortized cost balances at September 30, 2026 of $914 million and $120 million, respectively. Performance of Loans Modified to Borrowers Experiencing Financial Difficulty The following tables provide information on the performance of loans modified to borrowers experiencing financial difficulty which have been modified within the previous 12 months from the applicable balance sheet date and remained in a modification program at September 30, 2026 and 2025, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | Amortized cost basis | | At September 30, 2026 ($ in millions) | Current | | 30-89 days delinquent | | 90 or more days delinquent | | Total past due(a) | | Long-term modifications | | | | | | | | | Credit cards | $ | 890 | | | $ | 138 | | | $ | 94 | | | $ | 232 | | | Consumer installment loans | — | | | — | | | — | | | — | | | Commercial credit products | 8 | | | 2 | | | 1 | | | 3 | | | Short-term modifications | | | | | | | | | Credit cards | 58 | | | 31 | | | 31 | | | 62 | | | Consumer installment loans | — | | | — | | | — | | | — | | | Commercial credit products | — | | | — | | | — | | | — | | | | | | | | | | Total loans modified | $ | 956 | | | $ | 171 | | | $ | 126 | | | $ | 297 | | | Percentage of total loan receivables | 0.9 | % | | 0.2 | % | | 0.1 | % | | 0.3 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | Amortized cost basis | | At September 30, 2025 ($ in millions) | Current | | 30-89 days delinquent | | 90 or more days delinquent | | Total past due(a) | | Long-term modifications | | | | | | | | | Credit cards | $ | 972 | | | $ | 160 | | | $ | 111 | | | $ | 271 | | | Consumer installment loans | — | | | — | | | — | | | — | | | Commercial credit products | 5 | | | 1 | | | 1 | | | 2 | | | Short-term modifications | | | | | | | | | Credit cards | 56 | | | 30 | | | 38 | | | 68 | | | Consumer installment loans | — | | | — | | | — | | | — | | | Commercial credit products | — | | | — | | | — | | | — | | | | | | | | | | Total loans modified | $ | 1,033 | | | $ | 191 | | | $ | 150 | | | $ | 341 | | | Percentage of total loan receivables | 1.0 | % | | 0.2 | % | | 0.1 | % | | 0.3 | % |
___________________(a) Once a loan has been modified, it only returns to current status if the borrower pays the total minimum payment due or if the loan is re-aged after three consecutive monthly program payments are received post the modification date.
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| Troubled Debt Restructurings on Financing Receivables, Subsequent Default |
The following table presents loans to borrowers experiencing financial difficulty that enrolled in a long-term modification program within the previous 12 months from the applicable balance sheet date, and experienced a payment default and charged-off during the period presented: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | ($ in millions) | 2026 | | 2025 | | 2026 | | 2025 | | Credit cards | $ | 84 | | | $ | 97 | | | $ | 188 | | | $ | 216 | | | Consumer installment loans | — | | | — | | | — | | | — | | | Commercial credit products | 1 | | | 1 | | | 1 | | | 2 | | | | | | | | | | | Total | $ | 85 | | | $ | 98 | | | $ | 189 | | | $ | 218 | |
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| Interest Income and Interest Expense Disclosure |
The following table provides additional information about our interest and fees on loans, including merchant discounts, from our loan receivables, including held for sale: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | ($ in millions) | 2026 | | 2025 | | 2026 | | 2025 | Credit cards(a) | $ | 5,305 | | | $ | 5,255 | | | $ | 15,549 | | | $ | 15,386 | | | Consumer installment loans | 178 | | | 208 | | | 553 | | | 626 | | | Commercial credit products | 107 | | | 46 | | | 279 | | | 134 | | | Other | 1 | | | 1 | | | 3 | | | 4 | | Total(b) | $ | 5,591 | | | $ | 5,510 | | | $ | 16,384 | | | $ | 16,150 | |
_______________________(a)Interest income on credit cards that was reversed related to accrued interest receivables written off was $561 million and $541 million for the three months ended September 30, 2026 and 2025, respectively, and $1.8 billion for both the nine months ended September 30, 2026 and 2025. (b)Deferred merchant discounts to be recognized in interest income at September 30, 2026 and December 31, 2025, were $1.8 billion for both periods, which are included in Accrued expenses and other liabilities in our Condensed Consolidated Statements of Financial Position.
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