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Allowance for Credit Losses and Reserve for Unfunded Lending Commitments (Tables)
 3 Months Ended
Mar. 31, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Allowance for Credit Losses on Financing Receivables
The table below summarizes changes in the allowance for credit losses and reserve for unfunded lending commitments by portfolio segment for the three months ended March 31, 2025 and 2024. Our allowance for credit losses decreased by $359 million to $15.9 billion as of March 31, 2025 from December 31, 2024.
Table 5.1: Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity
Three Months Ended March 31, 2025
(Dollars in millions)Credit CardConsumer BankingCommercial BankingTotal
Allowance for credit losses:
Balance as of December 31, 2024$12,974 $1,884 $1,400 $16,258 
Charge-offs
(2,978)(676)(38)(3,692)
Recoveries(1)
579 363 14 956 
Net charge-offs(2,399)(313)(24)(2,736)
Provision for credit losses
1,926 301 141 2,368 
Allowance build (release) for credit losses
(473)(12)117 (368)
Other changes(2)
9 0 0 9 
Balance as of March 31, 202512,510 1,872 1,517 15,899 
Reserve for unfunded lending commitments:
Balance as of December 31, 20240 0 143 143 
Provision (benefit) for losses on unfunded lending commitments0 0 1 1 
Balance as of March 31, 20250 0 144 144 
Combined allowance and reserve as of March 31, 2025$12,510 $1,872 $1,661 $16,043 

Three Months Ended March 31, 2024
(Dollars in millions)Credit CardConsumer BankingCommercial BankingTotal
Allowance for credit losses:
Balance as of December 31, 2023$11,709 $2,042 $1,545 $15,296 
Charge-offs(2,574)(660)(39)(3,273)
Recoveries(1)
367 280 10 657 
Net charge-offs(2,207)(380)(29)(2,616)
Provision for credit losses2,259 426 22 2,707 
Allowance build (release) for credit losses52 46 (7)91 
Other changes(2)
(7)0 0 (7)
Balance as of March 31, 202411,754 2,088 1,538 15,380 
Reserve for unfunded lending commitments:
Balance as of December 31, 20230 0 158 158 
Provision (benefit) for losses on unfunded lending commitments0 0 (24)(24)
Balance as of March 31, 20240 0 134 134 
Combined allowance and reserve as of March 31, 2024$11,754 $2,088 $1,672 $15,514 
__________
(1)The amount and timing of recoveries are impacted by our collection strategies, which are based on customer behavior and risk profile and include direct customer communications, repossession of collateral, the periodic sale of charged off loans as well as additional strategies, such as litigation.
(2)Primarily represents foreign currency translation adjustments.
Credit Quality Indicator
The table below presents our credit card portfolio by delinquency status as of March 31, 2025 and December 31, 2024.
Table 4.3: Credit Card Delinquency Status
March 31, 2025December 31, 2024
(Dollars in millions)Revolving LoansRevolving Loans Converted to TermTotalRevolving LoansRevolving Loans Converted to TermTotal
Credit Card:
Domestic credit card:
Current
$143,439 $481 $143,920 $148,112 $453 $148,565 
30-59 days
1,773 29 1,802 1,944 29 1,973 
60-89 days
1,343 20 1,363 1,483 20 1,503 
Greater than 90 days
3,195 29 3,224 3,549 28 3,577 
Total domestic credit card149,750 559 150,309 155,088 530 155,618 
International card businesses:
Current
6,519 40 6,559 6,533 37 6,570 
30-59 days
99 5 104 102 5 107 
60-89 days
68 3 71 69 3 72 
Greater than 90 days
141 5 146 135 6 141 
Total international card businesses6,827 53 6,880 6,839 51 6,890 
Total credit card$156,577 $612 $157,189 $161,927 $581 $162,508 
The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of March 31, 2025 and December 31, 2024. 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.
Table 4.4: Consumer Banking Portfolio by Vintage Year
March 31, 2025
Term Loans by Vintage Year
(Dollars in millions)20252024202320222021PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Auto—At origination FICO scores:(1)
Greater than 660$4,471 $15,568 $7,478 $7,213 $4,785 $1,413 $40,928 $0 $0 $40,928 
621-6601,657 5,201 3,166 2,568 1,697 690 14,979 0 0 14,979 
620 or below2,983 7,607 4,439 3,208 2,181 1,331 21,749 0 0 21,749 
Total auto9,111 28,376 15,083 12,989 8,663 3,434 77,656 0 0 77,656 
Retail banking—Delinquency status:
Current40 130 78 87 46 493 874 342 3 1,219 
30-59 days0 0 0 0 0 1 1 9 0 10 
60-89 days0 0 0 0 0 2 2 3 0 5 
Greater than 90 days0 0 0 0 0 3 3 3 0 6 
Total retail banking40 130 78 87 46 499 880 357 3 1,240 
Total consumer banking$9,151 $28,506 $15,161 $13,076 $8,709 $3,933 $78,536 $357 $3 $78,896 
    
December 31, 2024
Term Loans by Vintage Year
(Dollars in millions)20242023202220212020PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
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 
621-6605,584 3,492 2,906 1,986 667 235 14,870 0 0 14,870 
620 or below8,102 4,882 3,626 2,546 1,207 515 20,878 0 0 20,878 
Total auto30,743 16,707 14,726 10,153 3,356 1,144 76,829 0 0 76,829 
Retail banking—Delinquency status:
Current143 78 93 49 51 469 883 351 3 1,237 
30-59 days0 0 0 0 0 2 2 11 0 13 
60-89 days0 0 0 0 0 1 1 2 0 3 
Greater than 90 days0 0 0 0 1 7 8 1 1 10 
Total retail banking143 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 
__________
(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 following table presents our commercial banking portfolio of loans held for investment by internal risk ratings as of March 31, 2025 and December 31, 2024. The internal risk rating status includes all past due loans, both performing and nonperforming.
Table 4.5: Commercial Banking Portfolio by Internal Risk Ratings
March 31, 2025
Term Loans by Vintage Year
(Dollars in millions)20252024202320222021PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized$761 $1,841 $2,606 $3,764 $2,078 $5,421 $16,471 $12,764 $50 $29,285 
Criticized performing0 70 89 986 72 1,023 2,240 52 1 2,293 
Criticized nonperforming10 19 0 44 82 238 393 0 0 393 
Total commercial and multifamily real estate771 1,930 2,695 4,794 2,232 6,682 19,104 12,816 51 31,971 
Commercial and industrial
Noncriticized1,489 5,462 5,592 9,488 4,629 8,605 35,265 15,999 128 51,392 
Criticized performing2 168 395 625 784 431 2,405 914 0 3,319 
Criticized nonperforming4 63 13 205 132 254 671 160 0 831 
Total commercial and industrial1,495 5,693 6,000 10,318 5,545 9,290 38,341 17,073 128 55,542 
Total commercial banking$2,266 $7,623 $8,695 $15,112 $7,777 $15,972 $57,445 $29,889 $179 $87,513 
December 31, 2024
Term Loans by Vintage Year
(Dollars in millions)20242023202220212020PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
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 performing71 89 1,072 35 110 922 2,299 93 2 2,394 
Criticized nonperforming23 0 46 103 86 249 507 2 0 509 
Total commercial and multifamily real estate1,914 2,663 4,964 2,368 1,099 6,058 19,066 12,786 51 31,903 
Commercial and industrial
Noncriticized5,694 6,092 9,952 5,009 2,730 6,239 35,716 15,449 266 51,431 
Criticized performing101 190 680 932 92 258 2,253 887 0 3,140 
Criticized nonperforming41 13 186 43 184 91 558 143 0 701 
Total commercial and industrial5,836 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 
__________
(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.
The table below presents gross charge-offs for loans held for investment by vintage year during the three months ended March 31, 2025.
Table 5.2: Gross Charge-Offs by Vintage Year
Three Months Ended March 31, 2025
Term Loans by Vintage Year
(Dollars in millions)20252024202320222021PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Credit Card
Domestic credit cardN/AN/AN/AN/AN/AN/AN/A$2,820 $32 $2,852 
International card businessN/AN/AN/AN/AN/AN/AN/A122 4 126 
Total credit cardN/AN/AN/AN/AN/AN/AN/A2,942 36 2,978 
Consumer Banking
Auto$5 $155 $170 $164 $106 $56 $656 0 0 656 
Retail banking0 0 0 0 0 0 0 20 0 20 
Total consumer banking5 155 170 164 106 56 656 20 0 676 
Commercial Banking
Commercial and multifamily real estate0 0 0 1 0 17 18 0 0 18 
Commercial and industrial0 0 0 6 3 11 20 0 0 20 
Total commercial banking0 0 0 7 3 28 38 0 0 38 
Total$5 $155 $170 $171 $109 $84 $694 $2,962 $36 $3,692 
Schedule of Loss Sharing Arrangement Impact
The table below summarizes the changes in the estimated reimbursements from these partners for the three months ended March 31, 2025 and 2024.
Table 5.3: Summary of Credit Card Partnership Loss Sharing Arrangements Impacts
Three Months Ended March 31,
(Dollars in millions)2025
2024
Estimated reimbursements from partners, beginning of period$1,010 $2,014 
Amounts due from partners for charged off loans(171)(324)
Change in estimated partner reimbursements that decreased provision for credit losses
251 385 
Estimated reimbursements from partners, end of period$1,090 $2,075