Our loan portfolio consists of loans held for investment, including loans held in our consolidated trusts, and loans held for sale. We further divide our loans held for investment into three portfolio segments: Credit Card, Consumer Banking and Commercial Banking. Credit card loans consist of domestic and international credit card loans. Consumer banking loans consist of auto and retail banking loans. Commercial banking loans consist of commercial and multifamily real estate as well as commercial and industrial loans. The information presented in the tables in this note excludes loans held for sale, which are carried at either fair value (if we elect the fair value option) or at the lower of cost or fair value.

Accrued interest receivable of $2.2 billion as of both December 31, 2024 and 2023 is not included in the tables in this note. The table below presents the composition and aging analysis of our loans held for investment portfolio as of December 31, 2024 and 2023. The delinquency aging includes all past due loans, both performing and nonperforming.

Table 4.1: Loan Portfolio Composition and Aging Analysis


	December 31, 2024
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	148,565	$	1,973	$	1,503	$	3,577	$	7,053	$	155,618
International card businesses	6,570		107		72		141		320		6,890
Total credit card	155,135		2,080		1,575		3,718		7,373		162,508
Consumer Banking:
Auto	71,600		3,149		1,529		551		5,229		76,829
Retail banking	1,237		13		3		10		26		1,263
Total consumer banking	72,837		3,162		1,532		561		5,255		78,092
Commercial Banking:
Commercial and multifamily real estate	31,733		31		9		130		170		31,903
Commercial and industrial	55,030		3		22		217		242		55,272
Total commercial banking	86,763		34		31		347		412		87,175
Total loans(1)	$	314,735	$	5,276	$	3,138	$	4,626	$	13,040	$	327,775
% of Total loans	96.02%		1.61%		0.96%		1.41%		3.98%		100.00%


	December 31, 2023
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	140,860	$	1,968	$	1,471	$	3,367	$	6,806	$	147,666
International card businesses	6,552		116		76		137		329		6,881
Total credit card	147,412		2,084		1,547		3,504		7,135		154,547
Consumer Banking:
Auto	68,768		3,268		1,555		484		5,307		74,075
Retail banking	1,329		15		3		15		33		1,362
Total consumer banking	70,097		3,283		1,558		499		5,340		75,437


	December 31, 2023
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Commercial Banking:
Commercial and multifamily real estate	34,325		0		14		107		121		34,446
Commercial and industrial	55,861		0		0		181		181		56,042
Total commercial banking	90,186		0		14		288		302		90,488
Total loans(1)	$	307,695	$	5,367	$	3,119	$	4,291	$	12,777	$	320,472
% of Total loans	96.01%		1.68%		0.97%		1.34%		3.99%		100.00%

__________

The following table presents our loans held for investment that are 90 days or more past due that continue to accrue interest, loans that are classified as nonperforming and loans that are classified as nonperforming without an allowance as of December 31, 2024 and 2023. Nonperforming loans generally include loans that have been placed on nonaccrual status.


	December 31, 2024									December 31, 2023
(Dollars in millions)	> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance			> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance
Credit Card:
Domestic credit card	$	3,577		N/A			$	0		$	3,367		N/A			$	0
International card businesses	134			$	10		0			132			$	9		0
Total credit card	3,711			10			0			3,499			9			0
Consumer Banking:
Auto	0			750			0			0			712			0
Retail banking	0			25			12			0			46			19
Total consumer banking	0			775			12			0			758			19
Commercial Banking:
Commercial and multifamily real estate	0			509			227			0			425			335
Commercial and industrial	96			701			607			55			336			193
Total commercial banking	96			1,210			834			55			761			528
Total	$	3,807		$	1,995		$	846		$	3,554		$	1,528		$	547
% of Total loans held for investment	1.16		%	0.61		%	0.26		%	1.11		%	0.48		%	0.17		%

__________

Our credit card loan portfolio is highly diversified across millions of accounts and numerous geographies without significant individual exposure. We therefore generally manage credit risk based on portfolios with common risk characteristics. The risk in our credit card loan portfolio correlates to broad economic trends, such as the U.S. unemployment rate and U.S. Real Gross Domestic Product (“GDP”) growth rate, as well as consumers’ financial condition, all of which can have a material effect on credit performance. The key indicator we assess in monitoring the credit quality and risk of our credit card loan portfolio is delinquency trends, including an analysis of loan migration between delinquency categories over time.


	December 31, 2024						December 31, 2023
(Dollars in millions)	Revolving Loans		Revolving Loans Converted to Term		Total		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card:
Domestic credit card:
Current	$	148,112	$	453	$	148,565	$	140,521	$	339	$	140,860
30-59 days	1,944		29		1,973		1,940		28		1,968
60-89 days	1,483		20		1,503		1,454		17		1,471
Greater than 90 days	3,549		28		3,577		3,339		28		3,367
Total domestic credit card	155,088		530		155,618		147,254		412		147,666

International card businesses:
Current	6,533		37		6,570		6,521		31		6,552
30-59 days	102		5		107		112		4		116
60-89 days	69		3		72		72		4		76
Greater than 90 days	135		6		141		132		5		137
Total international card businesses	6,839		51		6,890		6,837		44		6,881
Total credit card	$	161,927	$	581	$	162,508	$	154,091	$	456	$	154,547

Our consumer banking loan portfolio consists of auto and retail banking loans. Similar to our credit card loan portfolio, the risk in our consumer banking loan portfolio correlates to broad economic trends as well as consumers’ financial condition, all of which can have a material effect on credit performance. The key indicator we consider when assessing the credit quality and risk of our auto loan portfolio is borrower credit scores as they measure the creditworthiness of borrowers. Delinquency trends are the key indicator we assess in monitoring the credit quality and risk of our retail banking loan portfolio.

The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of December 31, 2024 and 2023. We present our auto loan portfolio by Fair Isaac Corporation (“FICO”) scores at origination and our retail banking loan portfolio by delinquency status, which includes all past due loans, both performing and nonperforming.


	December 31, 2024
	Term Loans by Vintage Year
(Dollars in millions)	2024		2023		2022		2021		2020		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	17,057	$	8,333	$	8,194	$	5,621	$	1,482	$	394	$	41,081	$	0	$	0	$	41,081
621-660	5,584		3,492		2,906		1,986		667		235		14,870		0		0		14,870
620 or below	8,102		4,882		3,626		2,546		1,207		515		20,878		0		0		20,878
Total auto	30,743		16,707		14,726		10,153		3,356		1,144		76,829		0		0		76,829

Retail banking—Delinquency status:
Current	143		78		93		49		51		469		883		351		3		1,237
30-59 days	0		0		0		0		0		2		2		11		0		13
60-89 days	0		0		0		0		0		1		1		2		0		3
Greater than 90 days	0		0		0		0		1		7		8		1		1		10
Total retail banking	143		78		93		49		52		479		894		365		4		1,263
Total consumer banking	$	30,886	$	16,785	$	14,819	$	10,202	$	3,408	$	1,623	$	77,723	$	365	$	4	$	78,092


	December 31, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	12,219	$	12,593	$	9,505	$	3,124	$	1,213	$	309	$	38,963	$	0	$	0	$	38,963
621-660	4,863		4,432		3,346		1,337		592		192		14,762		0		0		14,762
620 or below	6,647		5,539		4,283		2,349		1,131		401		20,350		0		0		20,350
Total auto	23,729		22,564		17,134		6,810		2,936		902		74,075		0		0		74,075

Retail banking—Delinquency status:
Current	98		157		57		65		117		468		962		363		4		1,329
30-59 days	1		0		1		1		0		1		4		11		0		15
60-89 days	0		0		0		0		0		1		1		2		0		3
Greater than 90 days	0		0		0		0		0		8		8		6		1		15
Total retail banking	99		157		58		66		117		478		975		382		5		1,362
Total consumer banking	$	23,828	$	22,721	$	17,192	$	6,876	$	3,053	$	1,380	$	75,050	$	382	$	5	$	75,437

__________

(1)Amounts represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average FICO scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.

The key credit quality indicator for our commercial loan portfolios is our internal risk ratings. We assign internal risk ratings to loans based on relevant information about the ability of the borrowers to repay their debt. In determining the risk rating of a particular loan, some of the factors considered are the borrower’s current financial condition, historical and projected future credit performance, prospects for support from financially responsible guarantors, the estimated realizable value of any collateral and current economic trends. The scale based on our internal risk rating system is as follows:

•Criticized performing: Loans in which the financial condition of the obligor is stressed, affecting earnings, cash flows or collateral values. The borrower currently has adequate capacity to meet near-term obligations; however, the stress, left unabated, may result in deterioration of the repayment prospects at some future date.

•Criticized nonperforming: Loans that are not adequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Loans classified as criticized nonperforming have a well-defined weakness, or weaknesses, which jeopardize the full repayment of the debt. These loans are characterized by the distinct possibility that we will sustain a credit loss if the deficiencies are not corrected and are generally placed on nonaccrual status.

We use our internal risk rating system for regulatory reporting, determining the frequency of credit exposure reviews, and evaluating and determining the allowance for credit losses. Generally, loans that are designated as criticized performing and criticized nonperforming are reviewed quarterly by management to determine if they are appropriately classified/rated and whether any impairment exists. Noncriticized loans are generally reviewed, at least annually, to determine the appropriate risk rating. In addition, we evaluate the risk rating during the renewal process of any loan or if a loan becomes past due.


	December 31, 2024
	Term Loans by Vintage Year
(Dollars in millions)	2024		2023		2022		2021		2020		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	1,820	$	2,574	$	3,846	$	2,230	$	903	$	4,887	$	16,260	$	12,691	$	49	$	29,000
Criticized performing	71		89		1,072		35		110		922		2,299		93		2		2,394
Criticized nonperforming	23		0		46		103		86		249		507		2		0		509
Total commercial and multifamily real estate	1,914		2,663		4,964		2,368		1,099		6,058		19,066		12,786		51		31,903
Commercial and industrial
Noncriticized	5,694		6,092		9,952		5,009		2,730		6,239		35,716		15,449		266		51,431
Criticized performing	101		190		680		932		92		258		2,253		887		0		3,140
Criticized nonperforming	41		13		186		43		184		91		558		143		0		701
Total commercial and industrial	5,836		6,295		10,818		5,984		3,006		6,588		38,527		16,479		266		55,272
Total commercial banking	$	7,750	$	8,958	$	15,782	$	8,352	$	4,105	$	12,646	$	57,593	$	29,265	$	317	$	87,175


	December 31, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	3,068	$	4,665	$	2,773	$	1,019	$	2,104	$	3,670	$	17,299	$	12,565	$	25	$	29,889
Criticized performing	148		1,494		706		284		463		904		3,999		133		0		4,132
Criticized nonperforming	65		26		124		0		47		163		425		0		0		425
Total commercial and multifamily real estate	3,281		6,185		3,603		1,303		2,614		4,737		21,723		12,698		25		34,446
Commercial and industrial
Noncriticized	6,909		11,935		6,994		3,566		2,359		5,117		36,880		14,822		167		51,869
Criticized performing	353		706		655		237		348		349		2,648		1,189		0		3,837
Criticized nonperforming	13		53		30		18		123		68		305		31		0		336
Total commercial and industrial	7,275		12,694		7,679		3,821		2,830		5,534		39,833		16,042		167		56,042
Total commercial banking	$	10,556	$	18,879	$	11,282	$	5,124	$	5,444	$	10,271	$	61,556	$	28,740	$	192	$	90,488

__________

As part of our loss mitigation efforts, we may provide short-term (one to twelve months) or long-term (greater than twelve months) modifications to a borrower experiencing financial difficulty to improve long-term collectibility of the loan and to avoid the need for repossession or foreclosure of collateral.

Table 4.6: Financial Difficulty Modifications to Borrowers


	Year Ended December 31, 2024
	Credit Card									Consumer Banking									Commercial Banking
(Dollars in millions)	Domestic Card			International Card Businesses			Total Credit Card			Auto			Retail Banking			Total Consumer Banking			Commercial and Multifamily Real Estate			Commercial and Industrial			Total Commercial Banking			Total
Interest rate reduction	$	570		$	123		$	693		—			—			—			—			—			—			$	693
Term extension	—			—			—			$	32		$	5		$	37		$	471		$	581		$	1,052		1,089
Principal balance reduction	—			—			—			21			—			21			—			15			15			36

Interest rate reduction and term extension	9			—			9			665			—			665			—			114			114			788

Other(1)	—			—			—			4			1			5			68			69			137			142
Total loans modified	$	579		$	123		$	702		$	722		$	6		$	728		$	539		$	779		$	1,318		$	2,748
% of total class of receivables	0.37		%	1.79		%	0.43		%	0.94		%	0.48		%	0.93		%	1.69		%	1.41		%	1.51		%	0.84		%


	Year Ended December 31, 2023
	Credit Card									Consumer Banking									Commercial Banking
(Dollars in millions)	Domestic Card			International Card Businesses			Total Credit Card			Auto			Retail Banking			Total Consumer Banking			Commercial and Multifamily Real Estate			Commercial and Industrial			Total Commercial Banking			Total
Interest rate reduction	$	590		$	97		$	687		—			—			—			—			—			—			$	687
Term extension	—			—			—			$	65		$	6		$	71		$	463		$	436		$	899		970
Principal balance reduction	—			—			—			21			—			21			—			—			—			21
Principal balance reduction and term extension	—			—			—			—			—			—			—			11			11			11
Interest rate reduction and term extension	12			—			12			672			1			673			—			26			26			711

Other(1)	—			—			—			4			3			7			2			451			453			460
Total loans modified	$	602		$	97		$	699		$	762		$	10		$	772		$	465		$	924		$	1,389		$	2,860
% of total class of receivables	0.41		%	1.41		%	0.45		%	1.03		%	0.74		%	1.02		%	1.35		%	1.65		%	1.54		%	0.89		%

__________


	Year Ended December 31, 2024
	Credit Card		Consumer Banking			Commercial Banking
(Dollars in millions)	Domestic Card	International Card Businesses		Auto	Retail Banking		Commercial and Multifamily Real Estate	Commercial and Industrial
Weighted-average interest rate reduction	20.12%	26.71%		8.83%	3.48%		0.79%	1.90%
Payment delay duration (in months)	12	—		6	3		10	16
Principal balance reduction	—	—		$1	—		—	$15


	Year Ended December 31, 2023
	Credit Card		Consumer Banking		Commercial Banking
(Dollars in millions)	Domestic Card	International Card Businesses	Auto	Retail Banking	Commercial and Multifamily Real Estate	Commercial and Industrial
Weighted-average interest rate reduction	19.32%	27.10%	8.72%	2.00%	—%	0.25%
Payment delay duration (in months)	12	—	6	10	13	7
Principal balance reduction	—	—	$1	—	$20	$3

We monitor loan performance trends, including FDMs, to assess and manage our exposure to credit risk. See “Note 1—Summary of Significant Accounting Policies” for additional information on how the allowance for modified loans is calculated for each portfolio segment.


	December 31, 2024
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	397	$	57	$	43	$	82	$	182	$	579
International card businesses	68		11		10		34		55		123
Total credit card	465		68		53		116		237		702
Consumer Banking:
Auto	522		101		70		29		200		722
Retail banking	4		1		0		1		2		6
Total consumer banking	526		102		70		30		202		728
Commercial Banking:
Commercial and multifamily real estate	535		2		0		2		4		539
Commercial and industrial	696		0		19		64		83		779
Total commercial banking	1,231		2		19		66		87		1,318
Total	$	2,222	$	172	$	142	$	212	$	526	$	2,748


	December 31, 2023
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	384	$	81	$	46	$	91	$	218	$	602
International card businesses	49		9		9		30		48		97
Total credit card	433		90		55		121		266		699
Consumer Banking:
Auto	548		107		76		31		214		762
Retail banking	10		0		0		0		0		10
Total consumer banking	558		107		76		31		214		772
Commercial Banking:
Commercial and multifamily real estate	426		0		0		39		39		465
Commercial and industrial	820		0		0		104		104		924
Total commercial banking	1,246		0		0		143		143		1,389
Total	$	2,237	$	197	$	131	$	295	$	623	$	2,860

__________

FDMs may subsequently enter default. A default occurs if a FDM is either 90 days or more delinquent, has been charged off, or has been reclassified from accrual to nonaccrual status. Loans that entered a modification program while in default are not considered to have subsequently defaulted for purposes of this disclosure. The allowance for any FDMs that have subsequently defaulted is measured using the same methodology as the allowance for loans held for investment. See “Note 1—Summary of Significant Accounting Policies” for additional information.

Table 4.9 Subsequent Defaults of Financial Difficulty Modifications to Borrowers


	Year Ended December 31, 2024
(Dollars in millions)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Other Modifications		Total Loans
Credit Card:
Domestic credit card	$	228	$	0	$	3	$	0	$	231
International card businesses	76		0		0		0		76
Total credit card	304		0		3		0		307
Consumer Banking:
Auto	0		8		448		0		456
Retail banking	0		1		0		0		1
Total consumer banking	0		9		448		0		457
Commercial Banking:
Commercial and multifamily real estate	0		169		0		54		223
Commercial and industrial	0		125		0		255		380
Total commercial banking	0		294		0		309		603
Total	$	304	$	303	$	451	$	309	$	1,367


	Year Ended December 31, 2023
(Dollars in millions)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total Loans
Credit Card:
Domestic credit card	$	89	$	0	$	1	$	90
International card businesses	20		0		0		20
Total credit card	109		0		1		110
Consumer Banking:
Auto	0		15		235		250

Total consumer banking	0		15		235		250
Commercial Banking:
Commercial and multifamily real estate	0		46		0		46
Commercial and industrial	0		51		0		51
Total commercial banking	0		97		0		97
Total	$	109	$	112	$	236	$	457

We adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures on January 1, 2023, and elected the modified retrospective adoption method. The ASU eliminates the accounting guidance for TDRs, and establishes disclosure requirements, to be applied prospectively, for loans with FDMs.


			Year Ended December 31, 2022
			Reduced Interest Rate		Term Extension
(Dollars in millions)	Total Loans Modified(2)		% of TDR Activity(3)	Average Rate Reduction	% of TDR Activity(3)	Average Term Extension (Months)
Credit Card:
Domestic credit card	$	306	100%	16.54%	N/A	N/A
International card businesses	127		100	27.42	N/A	N/A
Total credit card	433		100	19.73	N/A	N/A
Consumer Banking:
Auto	1,070		57	8.53	97%	4
Retail banking	7		N/A	N/A	92	13
Total consumer banking	1,077		57	8.53	97	4
Commercial Banking:
Commercial and multifamily real estate	385		8	0.28	84	13
Commercial and industrial	357		N/A	N/A	64	13
Total commercial banking	742		4	0.28	74	13
Total	$	2,252

(2)Represents the amortized cost of total loans modified in TDRs at the end of the period in which they were modified. As not every modification type is included in the table above, the total percentage of TDR activity may not add up to 100%. Some loans may receive more than one type of modification.

The following table presents the type, number and amortized cost of loans modified in a TDR that experienced a default during the period and had completed a modification event in the twelve months prior to the default. A default occurs if the loan is either 90 days or more delinquent, has been charged off as of the end of the period presented or has been reclassified from accrual to nonaccrual status.



	Year Ended December 31, 2022

(Dollars in millions)	Number of Contracts	Amount
Consumer Banking:
Auto	16,100	285
Retail banking	1	1
Total consumer banking	16,101	286
Commercial Banking:
Commercial and multifamily real estate	2	27
Commercial and industrial	5	56
Total commercial banking	7	83
Total	127,569	$	523

We pledged loan collateral of $6.7 billion and $7.4 billion to secure a portion of our FHLB borrowing capacity of $35.1 billion and $32.1 billion as of December 31, 2024 and 2023, respectively. We also pledged loan collateral of $80.2 billion and $78.3 billion to secure our Federal Reserve Discount Window borrowing capacity of $46.7 billion and $41.4 billion as of December 31, 2024 and 2023, respectively. In addition to loans pledged, we have securitized a portion of our credit card and auto loan portfolios. See “Note 6—Variable Interest Entities and Securitizations” for additional information.

Our total loans held for sale was $202 million and $854 million as of December 31, 2024 and 2023, respectively. We originated for sale $3.3 billion, $4.4 billion and $8.6 billion of commercial multifamily real estate loans in 2024, 2023 and 2022, respectively, and typically retain servicing rights upon the sale of these loans.