Discover Financial Services (DFS) 10-K 20 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 14, 2025	Jun. 30, 2024	Dec. 31, 2023
Cover [Abstract]
Document type	10-K
Document annual report	true
Document period end date	Dec. 31, 2024
Document transition report	false
Entity file number	001-33378
Entity registrant name	DISCOVER FINANCIAL SERVICES
Entity incorporation, state	DE
Entity tax identification number	36-2517428
Entity address, address line one	2500 Lake Cook Road
Entity address, city or town	Riverwoods
Entity address, state or province	IL
Entity address, postal zip code	60015
Entity phone number, city area code	224
Entity phone number, local phone number	405-0900
Title of 12(b) security	Common Stock, par value $0.01 per share
Trading symbol	DFS
Security exchange name	NYSE
Entity well-known seasoned issuer	No
Entity voluntary filers	No
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Smaller reporting company	false
Emerging growth company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity shell company	false
Entity public float			$ 32,797,348,407
Entity common stock, shares outstanding		251,604,129
Common Stock, par or stated value per share	$ 0.01			$ 0.01
Entity central index key	0001393612
Current fiscal year end date	--12-31
Document fiscal year focus	2024
Document fiscal period focus	FY
Amendment flag	false
Auditor Name	Deloitte & Touche LLP
Auditor Location	Chicago, Illinois
Auditor Firm ID	34

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 8,474	$ 11,685
Restricted cash	25	43
Other short-term investments	5,423	0
Investment securities (includes available-for-sale securities of $14,359 and $13,402 reported at fair value with associated amortized cost of $14,475 and $13,451 at December 31, 2024 and 2023, respectively)	14,630	13,655
Loan receivables
Loan receivables	121,118	128,409
Allowance for credit losses	(8,323)	(9,283)
Net loan receivables	112,795	119,126
Premises and equipment, net	1,072	1,091
Goodwill	255	255
Other assets	4,966	5,858
Total assets	147,640	151,713
Deposits
Interest-bearing deposit accounts	105,459	107,493
Non-interest-bearing deposit accounts	1,550	1,438
Total deposits	107,009	108,931
Short-term borrowings	0	750
Long-term borrowings	16,253	20,581
Accrued expenses and other liabilities	6,452	7,216
Total liabilities	129,714	137,478
Commitments, contingencies and guarantees (Notes 15, 18 and 19)
Stockholders’ Equity
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 572,608,227 and 570,837,720 shares issued at December 31, 2024 and 2023, respectively	6	6
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2024 and 2023, respectively	1,056	1,056
Additional paid-in capital	4,651	4,553
Retained earnings	33,583	29,855
Accumulated other comprehensive loss	(296)	(225)
Treasury stock, at cost; 321,268,743 and 320,734,860 shares at December 31, 2024 and 2023, respectively	(21,074)	(21,010)
Total stockholders’ equity	17,926	14,235
Total liabilities and stockholders’ equity	147,640	151,713
Variable Interest Entity, Primary Beneficiary
Assets
Restricted cash	25	43
Loan receivables
Loan receivables	29,394	30,590
Allowance for credit losses	(1,294)	(1,347)
Other assets	1	3
Deposits
Short- and long-term borrowings	8,475	11,743
Accrued expenses and other liabilities	$ 13	$ 19

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Available-for-sale investment securities, fair value	[1]	$ 14,359	$ 13,402
Debt Securities, available-for-sale, amortized cost	[1]	$ 14,475	$ 13,451
Common Stock, par or stated value per share		$ 0.01	$ 0.01
Common stock, shares authorized		2,000,000,000	2,000,000,000
Common stock, shares, issued		572,608,227	570,837,720
Preferred Stock, par or stated value per share		$ 0.01	$ 0.01
Preferred stock, shares authorized		200,000,000	200,000,000
Preferred stock, shares issued		10,700	10,700
Preferred stock, shares outstanding		10,700	10,700
Treasury stock, shares		321,268,743	320,734,860
[1] Available-for-sale investment securities are reported at fair value.

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest income
Credit card loans		$ 16,109	$ 14,438	$ 10,632
Other loans		2,729	2,515	1,870
Investment securities		521	449	179
Other interest income		661	443	183
Total interest income		20,020	17,845	12,864
Interest expense
Deposits		4,772	3,886	1,257
Short-term borrowings		19	5	2
Long-term borrowings		933	855	606
Total interest expense		5,724	4,746	1,865
Net interest income		14,296	13,099	10,999
Provision for credit losses		4,911	6,018	2,359
Net interest income after provision for credit losses		9,385	7,081	8,640
Other income
Discount and interchange revenue, net	[1]	1,520	1,381	1,303
Protection products revenue		169	172	172
Loan fee income		819	763	632
Transaction processing revenue		345	303	249
Losses on equity investments		(2)	(9)	(214)
Other income		763	85	75
Total other income		3,614	2,695	2,217
Other expense
Employee compensation and benefits		2,824	2,434	2,139
Marketing and business development		1,070	1,164	1,035
Information processing and communications		735	608	513
Professional fees		1,274	1,041	871
Premises and equipment		93	89	118
Other expense		929	803	540
Total other expense		6,925	6,139	5,216
Income before income taxes		6,074	3,637	5,641
Income tax expense		1,539	841	1,325
Net income		4,535	2,796	4,316
Net income (loss) available to common stockholders, basic		$ 4,446	$ 2,715	$ 4,228
Basic earnings per common share		$ 17.72	$ 10.71	$ 15.25
Diluted earnings per common share		$ 17.72	$ 10.70	$ 15.23
[1]Net of rewards, including Cashback Bonus rewards, of $3.0 billion, $3.1 billion and $3.0 billion for the years ended December 31, 2024, 2023 and 2022, respectively.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 4,535	$ 2,796	$ 4,316
Other comprehensive (loss) income, net of tax
Unrealized (losses) gains on available-for-sale investment securities, net of tax	(49)	99	(250)
Unrealized (losses) gains on cash flow hedges, net of tax	(12)	6	(5)
Unrealized pension and post-retirement plan (losses) gains, net of tax	(10)	9	10
Other comprehensive (loss) income, net	(71)	114	(245)
Comprehensive income	$ 4,464	$ 2,910	$ 4,071

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock, Common	Series C Preferred Stock [Member]	Series C Preferred Stock [Member] Retained Earnings [Member]	Series D Preferred Stock [Member]	Series D Preferred Stock [Member] Retained Earnings [Member]
Preferred stock, shares outstanding, balance at beginning of period (in shares) at Dec. 31, 2021			11,000
Stockholders' equity, balance at beginning of period at Dec. 31, 2021	$ 12,789		$ 1,056	$ 6	$ 4,369	$ 24,147		$ (94)	$ (16,695)
Common stock, shares outstanding, balance at beginning of period (in shares) at Dec. 31, 2021				568,831,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,316					4,316
Other comprehensive loss	(245)							(245)
Purchases of treasury stock	(2,359)								(2,359)
Common stock issued under employee benefit plans (in shares)				107,000
Common stock issued under employee benefit plans	10				10
Common stock issued and stock-based compensation expense (in shares)				751,000
Common stock issued and stock-based compensation expense	89				89
Dividends — common stock	(643)					(643)
Dividends — preferred stock										$ (31)	$ (31)	$ (31)	$ (31)
Preferred stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2022			11,000
Stockholders' equity, balance at end of period at Dec. 31, 2022	13,895		$ 1,056	$ 6	4,468	27,758		(339)	(19,054)
Stockholders' equity, balance at end of period (Accounting Standards Update 2022-02) at Dec. 31, 2022		$ 52					$ 52
Common stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2022				569,689,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,796					2,796
Other comprehensive loss	114							114
Purchases of treasury stock	(1,956)								(1,956)
Common stock issued under employee benefit plans (in shares)				118,000
Common stock issued under employee benefit plans	11				11
Common stock issued and stock-based compensation expense (in shares)				1,031,000
Common stock issued and stock-based compensation expense	74				74
Dividends — common stock	$ (689)					(689)
Dividends — preferred stock										(31)	(31)	(31)	(31)
Preferred stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2023	10,700		11,000
Stockholders' equity, balance at end of period at Dec. 31, 2023	$ 14,235		$ 1,056	$ 6	4,553	29,855		(225)	(21,010)
Stockholders' equity, balance at end of period (Accounting Standards Update 2023-02) at Dec. 31, 2023		$ (37)					$ (37)
Common stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2023				570,838,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,535					4,535
Other comprehensive loss	(71)							(71)
Purchases of treasury stock	(64)								(64)
Common stock issued under employee benefit plans (in shares)				101,000
Common stock issued under employee benefit plans	13				13
Common stock issued and stock-based compensation expense (in shares)				1,669,000
Common stock issued and stock-based compensation expense	85				85
Dividends — common stock	$ (708)					(708)
Dividends — preferred stock										$ (31)	$ (31)	$ (31)	$ (31)
Preferred stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2024	10,700		11,000
Stockholders' equity, balance at end of period at Dec. 31, 2024	$ 17,926		$ 1,056	$ 6	$ 4,651	$ 33,583		$ (296)	$ (21,074)
Common stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2024				572,608,000

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common stock, dividends, per share, declared	$ 2.80	$ 2.70	$ 2.30
Series C Preferred Stock [Member]
Preferred stock, dividends per share, declared	5,500	5,500	5,500
Series D Preferred Stock [Member]
Preferred stock, dividends per share, declared	$ 6,125	$ 6,125	$ 6,125

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows provided by operating activities
Net income	$ 4,535	$ 2,796	$ 4,316
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	4,911	6,018	2,359
Deferred income taxes	162	(671)	(452)
Depreciation and amortization	300	458	561
Amortization of deferred revenues	(425)	(468)	(365)
Gains related to loans sold	(450)	0	0
Net losses on investments and other assets	65	50	261
Other, net	82	110	125
Changes in assets and liabilities:
Decrease (increase) in other assets	43	(658)	(846)
(Decrease) increase in accrued expenses and other liabilities	(798)	928	1,181
Net cash provided by operating activities	8,425	8,563	7,140
Cash flows (used for) provided by investing activities
Purchases of other short-term investments	5,370	0	0
Maturities of available-for-sale investment securities	2,217	1,831	2,084
Purchases of available-for-sale investment securities	(3,106)	(2,996)	(7,682)
Maturities of held-to-maturity investment securities	16	16	32
Purchases of held-to-maturity investment securities	(35)	(49)	(50)
Proceeds from the sale of loans originated for investment	10,679	0	0
Net change in principal on loans originated for investment	(7,893)	(19,934)	(19,961)
Proceeds from the sale of available for sale securities	8	0	0
Proceeds from the sale of other investments	25	44	336
Purchases of other investments	(83)	(100)	(169)
Proceeds from sale of premises and equipment	59	0	9
Purchases of premises and equipment	(268)	(303)	(236)
Net cash used for investing activities	(3,751)	(21,491)	(25,637)
Cash flows (used for) provided by financing activities
Net change in short-term borrowings	(750)	750	(1,750)
Net change in deposits	(1,995)	17,250	19,208
Proceeds from issuance of securitized debt	750	2,230	5,620
Maturities, repayments and transfers of securitized debt	(3,290)	(1,494)	(4,395)
Proceeds from issuance of other long-term borrowings	0	2,041	1,265
Maturities and repayments of other long-term borrowings	(1,777)	(2,340)	(834)
Proceeds from issuance of common stock	13	12	10
Dividends paid on common and preferred stock	(771)	(752)	(703)
Purchases of treasury stock	(83)	(1,938)	(2,359)
Net cash (used for) provided by financing activities	(7,903)	15,759	16,062
Net (decrease) increase in cash, cash equivalents and restricted cash	(3,229)	2,831	(2,435)
Cash, cash equivalents and restricted cash, at the beginning of the period	11,728	8,897	11,332
Cash, cash equivalents and restricted cash, at the end of the period	8,499	11,728	8,897
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	8,474	11,685	8,856
Restricted cash	25	43	41
Cash paid during the period for:
Interest expense	5,690	4,508	1,666
Income taxes, net of income tax refunds	$ 1,180	$ 1,605	$ 1,865

Background and Basis of Present

Background and Basis of Presentation	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Description of Business Discover Financial Services (“DFS” or the “Company”) is a digital banking and payment services company. The Company is a bank holding company under the Bank Holding Company Act of 1956 and a financial holding company under the Gramm-Leach-Bliley Act. Therefore, the Company is subject to oversight, regulation and examination by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). The Company provides digital banking products and services and payment services through its subsidiaries. The Company offers its customers credit card loans, personal loans, home loans and deposit products. The Company also operates the Discover Network, the PULSE network (“PULSE”) and Diners Club International (“Diners Club”), collectively known as the Discover Global Network. The Discover Network processes transactions for Discover-branded credit and debit cards and provides payment transaction processing and settlement services. PULSE operates an electronic funds transfer network, providing financial institutions issuing debit cards on the PULSE network with access to automated teller machines (“ATMs”) domestically and internationally, as well as merchant acceptance throughout the United States of America (“U.S.”) for debit card transactions. Diners Club is a global payments network of licensees, which are generally financial institutions, that issue Diners Club branded credit and charge cards and/or provide card acceptance services. The Company manages its business activities in two segments, Digital Banking and Payment Services, based on the products and services provided. See Note 22: Segment Disclosures for a detailed description of each segment’s operations and the allocation conventions used in business segment reporting. Sale of The Private Student Loan Portfolio The sale of the private student loan portfolio was completed during the fourth quarter of 2024. As a result, the Company recognized a gain of approximately $450 million recorded in other income on the consolidated statements of income for the year ended December 31, 2024. As part of the sale transaction, the Company sold its beneficial interest in its remaining private student loan securitization trust, which resulted in the derecognition of loan receivables held by the trust and debt issued by the trust. For more information, see Discover's Current Report on Form 8-K furnished to the Securities and Exchange Commission (the "SEC") on July 17, 2024. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. The Company believes that the estimates used in the preparation of the consolidated financial statements are reasonable. Actual results could differ from these estimates. Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s consolidated financial condition, results of operations or changes in stockholders’ equity. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company’s policy is to consolidate all entities in which it owns more than 50% of the outstanding voting stock unless it does not control the entity. However, the Company did not have a controlling voting interest in any entity other than its wholly-owned subsidiaries in the periods presented in the accompanying consolidated financial statements. It is also the Company’s policy to consolidate any VIEs for which the Company is the primary beneficiary, as defined by GAAP. On this basis, the Company consolidates the Discover Card Master Trust I (“DCMT”) and the Discover Card Execution Note Trust (“DCENT”) and consolidated the student loan securitization trust prior to the sale of the private student loan portfolio, which was completed during the fourth quarter of 2024. The Company is deemed to be the primary beneficiary of each of these trusts since it is, for each, the trust Servicer and the holder of both the residual interest and the majority of the most subordinated interests. Because of those involvements, the Company has, for each trust, (i) the power to direct the activities that most significantly impact the economic performance of the trust and (ii) the obligation (or right) to absorb losses (or receive benefits) of the trust that could potentially be significant. The Company has determined that it was not the primary beneficiary of any other VIE during the years ended December 31, 2024, 2023 and 2022. For investments in any entities in which the Company owns 50% or less of the outstanding voting stock but in which the Company has significant influence over operating and financial decisions, the Company applies the equity method of accounting. In cases where the Company’s equity investment is less than 20% and significant influence does not exist, such investments are carried at cost as they typically do not have readily determinable fair values, and are adjusted for any impairment in value. Investments in actively traded stock are carried at fair value with changes in fair value recorded as an adjustment to earnings. Recently Issued Accounting Pronouncements (Not Yet Adopted) In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU aims to build a better understanding of an entity’s expenses through more detailed tabular disclosures surrounding certain costs and expenses (including but not limited to employee compensation, amortization of intangibles, and depreciation), defining and disclosing selling expense, and qualitatively describing remaining amounts not disaggregated in relevant expense captions. In addition, certain existing expense disclosures will be required to be presented within the same note and tabular format as prescribed by ASU No. 2024-03. The guidance is effective for the Company for the year ending December 31, 2027, and interim periods thereafter and can be applied on a prospective or retrospective basis. While the ASU implements further disclosure requirements, it does not change how an entity calculates and/or records its expenses, and it will have no impact on the Company’s consolidated financial condition, results of operations or cash flows. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU enhances the transparency of income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. Entities are required to disaggregate the rate reconciliation (including percentages and reported amounts) by certain specified categories with additional disaggregation by nature and/or jurisdiction for items over a designated threshold. Income taxes paid (net of refunds received) must be disaggregated by federal, state and foreign taxes and separately by individual jurisdiction in which that amount for a particular jurisdiction is equal to or greater than five percent of total income taxes paid (net of refunds received). This annual disclosure guidance is effective for the Company for the year ending December 31, 2025 and can be adopted on either a prospective or retrospective basis. The Company expects to adopt this standard on a prospective basis. While the ASU implements further income tax disclosure requirements, it does not change how an entity determines its income tax obligation, and it will have no impact on the Company’s consolidated financial condition, results of operations or cash flows. Recently Adopted Accounting Pronouncement In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU required disclosure of additional segment level information, particularly regarding significant segment expenses. The Company has disclosed significant expense categories and amounts that are regularly provided to the chief operating decision maker ("CODM") and included in the reported segment measure of profit or loss. As appropriate, other segment items have also been reported, which are those items that make up the difference between segment revenues less significant segment expenses and reported segment profit or loss. Additionally, the Company has disclosed the title and position of the CODM and how the CODM uses the reported measures of segment profit or loss for assessing the performance of and allocating resources to the Company’s operating segments. The guidance was effective for the Company for the year ending December 31, 2024, and interim periods thereafter and has been applied retrospectively. While the ASU implemented further segment disclosure requirements, it did not change how the Company identifies its operating or reportable segments, and it had no impact on the Company’s consolidated financial condition, results of operations or cash flows. In March 2023, the FASB issued ASU No. 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. The ASU expanded the use of the proportional amortization method of accounting for tax credit investments. Under the proportional amortization method, the cost of the investment is amortized in proportion to the income tax credits and other income tax benefits received, the net effect of which is recognized as a component of income tax expense on the consolidated statements of income. Previously, the method was limited to Low Income Housing Tax Credit investments, however the Company historically did not elect to use this method. Under the amended guidance, use of proportional amortization is available to any qualifying tax credit investments, which now also includes New Markets Tax Credit investments among others. The ASU was effective for the Company on January 1, 2024. All of the Company's tax credit investments as of January 1, 2024 qualified and are now being accounted for under the proportional amortization method. Upon adoption, the Company recorded a $37 million charge to the opening balance of retained earnings to reflect the cumulative effect of adopting the proportional amortization method on a modified-retrospective basis for the Company's existing tax credit investments. The offset to retained earnings was a decrease of $23 million to the book value of the investments and a $14 million decrease to the related deferred tax asset position. Recognition of proportional amortization as a component of income tax expense rather than pre-tax income will result in an increase in the Company's effective tax rate.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents is defined by the Company as cash on deposit with banks, including time deposits and other highly liquid investments with maturities of 90 days or less when purchased, excluding amounts restricted by certain contractual or other obligations. Cash and cash equivalents included $919 million and $2.0 billion of cash and due from banks and $7.6 billion and $9.7 billion of interest-earning deposits at other banks at December 31, 2024 and 2023, respectively. Restricted Cash Restricted cash includes cash in accounts from which the Company’s ability to withdraw funds at any time is contractually limited. Restricted cash is generally designated for specific purposes arising out of certain contractual or other obligations. Investments Other Short-Term Investments At December 31, 2024, other short-term investments primarily consisted of U.S. Treasury bills with contractual maturities greater than 90 days but less than one year at the time of acquisition. These investments are reported at fair value with unrealized gains and losses, net of tax, reported as a component of accumulated other comprehensive income (“AOCI”) included in stockholders’ equity. Investments Securities At December 31, 2024, investment securities consisted of debt obligations of the U.S. Treasury, mortgage-backed securities issued by government agencies, and municipal bonds issued by state agencies. Investment securities that the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity (“HTM”) and are reported at amortized cost. All other investment securities are classified as available-for-sale (“AFS”), as the Company does not hold investment securities for trading purposes. AFS investment securities are reported at fair value with unrealized gains and losses, net of tax, reported as a component of AOCI included in stockholders’ equity. The Company estimates the fair value of AFS investment securities as more fully discussed in Note 20: Fair Value Measurements. The amortized cost for each HTM and AFS investment security is adjusted for amortization of premiums or accretion of discounts, as appropriate. Such amortization or accretion is included in interest income. Interest on investment securities is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The obligations of the U.S. Treasury and government-sponsored enterprises of the U.S. (“U.S. GSEs”) and mortgage-backed securities issued by government agencies or U.S. GSEs in which the Company invests have long histories with no credit losses and are explicitly or implicitly guaranteed by the U.S. government. Therefore, management has concluded that there is no expectation of non-payment on its investment securities and does not record an allowance for credit losses on these investments. HTM investments in debt securities occur only with respect to Discover Bank’s activities pursuant to the Community Reinvestment Act. Tax Credit Investments At December 31, 2024, tax credit investments consisted of membership interests in limited liability companies invested in affordable housing projects and community revitalization projects. The Company earns a return from these investments primarily through tax credits allocated to the underlying projects. The Company does not consolidate these investments as the Company does not have a controlling financial interest in the investee entities. The related commitments for future investments are recorded in accrued expenses and other liabilities within the consolidated statements of financial condition for delayed equity contributions that are unconditional and legally binding. Equity contributions that are contingent upon a future event are recognized when that contingent event becomes probable. The Company has elected to account for its qualifying investments which generate affordable housing tax credits and new markets tax credits under the proportional amortization method beginning January 1, 2024, on a modified retrospective basis. As of December 31, 2024, all of the Company's tax credit investments qualified for this election. Prior to 2024, these investments were accounted for using the equity method. Under the proportional amortization method, the cost of the investment is amortized in proportion to the income tax credits and other income tax benefits received, the net effect of which is recognized as a component of income tax expense on the condensed consolidated statements of income and within cash flows provided by operating activities on the condensed consolidated statements of cash flows. Loan Receivables Loan receivables consist of credit card receivables and other loan receivables. The carrying values of all classes of loan receivables include unamortized net deferred loan origination fees and costs (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). The credit card loan receivables carrying amount includes the principal amounts outstanding and uncollected billed interest and fees and is reduced for unearned revenue related to balance transfer fees (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). Other loans consist of private student loans (prior to its sale), personal loans, home loans and other loans and the carrying amount of those loans includes principal amounts outstanding. The Company’s loan receivables are deemed to be held-for-investment at origination or acquisition because management has the intent and ability to hold them for the foreseeable future. Cash flows associated with loans originated or acquired for investment are classified as cash flows from investing activities, regardless of a subsequent change in intent. Delinquent Loans and Net Charge-Offs The entire balance of an account is contractually past due if the minimum payment is not received by the specified date on the customer’s billing statement. Delinquency is reported on loans that are 30 days or more past due. Credit card loans are charged off at the end of the month during which an account becomes 180 days past due. Closed-end unsecured consumer loan receivables are charged off at the end of the month during which an account becomes 120 days contractually past due. Home loans are written down to fair value, less cost to sell, once the loan becomes 180 days past due. Customer bankruptcies and probate accounts are charged off by the end of the month 60 days following the receipt of notification of the bankruptcy or death, but not later than the 180-day or 120-day time frame described above. Receivables associated with alleged or potential fraudulent transactions are reserved for at their net realizable value upon receipt of notification of such fraud through a charge to other expense and are subsequently written off at the end of the month 90 days following notification, but not later than the contractual 180-day or 120-day time frame described above. The Company’s charge-off policies are designed to comply with guidelines established by the Federal Financial Institutions Examination Council (“FFIEC”). The Company’s net charge-offs include the principal amount of loans charged off less principal recoveries and exclude charged-off interest and fees, recoveries of interest and fees and fraud losses. The practice of re-aging an account also may affect loan delinquencies and charge-offs. A re-age is intended to assist delinquent customers who have experienced financial difficulties but who demonstrate both an ability and willingness to repay. Accounts meeting specific criteria are re-aged when the Company and the customer agree on a temporary repayment schedule that may include concessionary terms. With re-aging, the outstanding balance of a delinquent account is returned to a current status. Customers may also qualify for a workout re-age when either a longer term or permanent hardship exists. The Company’s re-age practices are designed to comply with FFIEC guidelines. Allowance for Credit Losses The Company maintains an allowance for credit losses at a level that is appropriate to absorb net credit losses anticipated over the remaining expected life of loan receivables as of the balance sheet date. The estimate of expected credit losses considers uncollectible principal, interest and fees associated with the Company's loan receivables existing as of the balance sheet date. Additionally, the estimate includes expected recoveries of amounts that were either previously charged off or are expected to be charged off. The allowance is evaluated quarterly for appropriateness and is maintained through an adjustment to the provision for credit losses. Charge-offs of principal amounts of loans outstanding are deducted from the allowance and subsequent recoveries of such amounts increase the allowance. Charge-offs of loan balances representing unpaid interest and fees result in a reversal of interest and fee income, respectively, which is effectively a reclassification of the provision for credit losses. The Company calculates its allowance for credit losses by estimating expected credit losses separately for classes of receivables with similar risk characteristics. This results in segmenting the portfolio by loan product type, which is the level that the Company develops and documents its methodology for determining the allowance for credit losses. The estimate of expected credit losses for each loan product type is based on: (i) a reasonable and supportable forecast period; (ii) a reversion period; and (iii) a post-reversion period based on historical information covering the remaining life of the loan, all of which is netted with expected recoveries. The lengths of the reasonable and supportable forecast and reversion periods can vary and are subject to a quarterly assessment that considers the economic outlook and level of variability among macroeconomic forecasts. The Company applies a weighted approach in reverting from the reasonable and supportable forecast period to the post-reversion period. Several analyses are used to help estimate credit losses anticipated over the remaining expected life of loan receivables as of the balance sheet date. The Company's estimation process includes models that predict customer losses based on risk characteristics and portfolio attributes, macroeconomic variables and historical data and analysis. There is a significant amount of judgment applied in selecting inputs and analyzing the results produced by the models to determine the allowance. For credit card loans, the Company uses a modeling framework that includes the following components for estimating expected credit losses: • Probability of default: this component estimates the probability of charge-off at different points in time over the life of each loan. • Exposure at default: this component estimates the balance on the loan at the time of default. Given that there is no stated life of a receivable balance on a revolving credit card account, the Company applies a percentage of expected payments to estimate the balance that would remain at the time of charge-off. • Recoveries from charged-off accounts are estimated separately and are netted as part of the aggregation of all of the components of the card loss modeling framework. • The output of the above three components is adjusted to remove post measurement date activity. For personal loans, the Company follows the same probability of default, exposure at default and recoveries framework as credit card loans. Personal loans have a stated life, therefore exposure at default is directly measurable with no adjustment needed. For home loans, the Company uses vintage-based models that estimate expected credit losses over the life of the loan, net of recovery estimates, impacted mainly by time elapsed since origination, credit quality of origination vintages and macroeconomic forecasts. The components described above for credit card, personal and home loans are developed utilizing historical data and applicable macroeconomic variable inputs based on statistical analysis and customer behavioral relationships with credit performance. Expected recoveries from loans charged off as of the balance sheet date are modeled separately and included in the allowance estimate. The Company leverages these models and recent macroeconomic forecasts for the portion of the estimate associated with the reasonable and supportable forecast period. To estimate expected credit losses for the remainder of the life of the credit card and personal loans, the Company reverts to historical experience of credit card and personal loans with characteristics similar to those as of the balance sheet date and observed over various phases of a credit cycle. To estimate expected credit losses for the remainder of the life of home loans, the Company generally reverts to use of industry and internal loan performance data over an appropriate historical period. The considerations in these models include past and current loan performance, loan growth and seasoning, risk management practices, account collection strategies, economic conditions, bankruptcy filings, policy changes and forecasting uncertainties. Consideration of past and current loan performance includes the post-modification performance of loans to borrowers experiencing financial difficulty. For the credit card and personal loan portfolios, the Company estimates its credit losses on a loan-level basis, which includes loans that are delinquent and/or no longer accruing interest and/or loans that have been restructured. For home loans, the Company estimates its credit losses on a pooled basis. For all loan types, recoveries are estimated at a pooled level based on estimates of future cash flows derived using historical experience. Accrued interest receivable on credit card loans is included in the estimate of expected credit losses once billed to the customer (i.e., once the interest becomes part of the loan balance). An allowance for credit losses is not recorded for unbilled credit card interest or accrued interest receivable on other loan classes as the impact to the allowance for credit losses is not material. No liability for expected credit losses is required for unused lines of credit on the Company’s credit card loans because they are unconditionally cancellable. As of December 31, 2024, none of the Company's other lending products feature unfunded commitments. As part of certain collection strategies, the Company may modify the terms of loans to customers experiencing financial hardship. Modifications on credit card, personal and home loans are generally subject to disclosure as loan modifications to borrowers experiencing financial difficulty. Loan receivables that have been modified are subject to the same requirements for the accrual of expected credit loss over their expected remaining lives as described above for unmodified loans. The effects of all loan modifications, whether or not they are subject to disclosure as loan modifications to borrowers experiencing financial difficulty, are reflected in the allowance for credit losses. Premises and Equipment, net Premises and equipment, net, are stated at cost less provisions for impairment and accumulated depreciation and amortization. Accumulated depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. The Company periodically reviews the estimated useful lives and may adjust them as necessary. Buildings are depreciated over a period of thirty-nine years. The costs of improvements are capitalized and depreciated either over the asset’s estimated useful life, typically ten years to fifteen years, or over the remaining term of the lease, when applicable. Furniture and fixtures are depreciated over a period of five years to ten years. Equipment is depreciated over three years to ten years. Maintenance and repairs are immediately expensed when incurred, while the costs of significant improvements are capitalized. Purchased software and capitalized costs related to internally developed software are amortized over their useful lives of three years to ten years. Costs incurred during the application development stage related to internally developed software are capitalized. Costs are expensed as incurred during the preliminary project stage and post implementation stage. Once the capitalization criteria as defined in GAAP have been met, external direct costs incurred for materials and services used in developing or obtaining internal-use computer software and payroll and payroll-related costs for employees who are directly associated with the internal-use computer software project (to the extent those employees devoted time directly to the project) are capitalized. Amortization of capitalized costs begins when the software is ready for its intended use. Capitalized software is included in premises and equipment, net in the Company’s consolidated statements of financial condition. See Note 6: Premises and Equipment for further information about the Company’s premises and equipment. Cloud computing arrangements involving the licensing of software that meet certain criteria are recognized as the acquisition of software. Such assets are measured at the present value of the license obligation, if the license is to be paid over time, in addition to any capitalized upfront costs and amortized over the life of the arrangement. Cloud computing arrangements that do not meet the criteria to be recognized as acquired software are accounted for as service contracts. To date, none of the Company’s cloud computing arrangements have met the criteria to be recognized as acquired software. Premises and equipment are subject to impairment testing when events or conditions indicate that the carrying value of the asset may not be fully recoverable from future cash flows. A test for recoverability is done by comparing the asset’s carrying value to the sum of the undiscounted future net cash inflows expected to be generated from the use of the asset over its remaining useful life. Impairment exists if the sum of the undiscounted expected future net cash inflows is less than the carrying amount of the asset. Impairment would result in a write-down of the asset to its estimated fair value. The estimated fair values of these assets are based on the discounted present value of the stream of future net cash inflows expected to be derived over the remaining useful lives of the assets. If an impairment write-down is recorded, the remaining useful life of the asset will be evaluated to determine whether revision of the remaining amortization or depreciation period is appropriate. Goodwill Goodwill is recorded as part of the Company’s acquisitions of businesses when the purchase price exceeds the fair value of the net tangible and separately identifiable intangible assets acquired. The Company’s goodwill is not amortized, but rather is subject to an impairment test at the reporting unit level annually as of October 1, or between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company’s reported goodwill relates to PULSE, which it acquired in 2005. The Company’s goodwill is tested for impairment by comparing the fair value of the reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired. If the carrying value exceeds its fair value, an impairment loss must be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment was identified during the impairment test conducted as of October 1, 2024. Other Real Estate Owned Other real estate owned represents real estate received in full or partial satisfaction of a loan. Amounts are recorded at fair value, less costs to sell, generally based on property appraisals and classified in other assets on the consolidated statements of financial condition. Stock-based Compensation The Company measures the cost of services received from employees and non-employee directors in exchange for an award of stock-based compensation based on the grant-date fair value of the award. The cost, net of estimated forfeitures, is recognized over the requisite service period. Awards to employees who are retirement-eligible at any point during the year are amortized over 12 months in accordance with the vesting terms that apply under those circumstances. No compensation cost is recognized for awards that are subsequently forfeited. Advertising Costs The Company expenses television and radio advertising costs in the period in which the advertising is first aired and all other advertising costs as incurred. Advertising costs are recorded in marketing and business development and were $329 million, $359 million and $307 million for the years ended December 31, 2024, 2023 and 2022, respectively. Income Taxes Income tax expense is provided for using the asset and liability method, under which deferred tax assets and liabilities are determined based on the temporary differences between the financial reporting and income tax bases of assets and liabilities using currently enacted tax rates. Deferred tax assets are recognized when their realization is determined to be more likely than not. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. An increase or decrease in the valuation allowance that results from a change in circumstances and which causes a change in management’s judgment about the realizability of the related deferred tax asset is included in the current tax provision. Uncertain tax positions are measured at the highest amount of tax benefit for which realization is judged to be more likely than not. Tax benefits that do not meet these criteria are unrecognized tax benefits. The Company recognizes and reports interest and penalties, if necessary, related to uncertain tax positions within its provision for income tax expense. See Note 15: Income Taxes for more information about the Company’s income taxes. Accumulated Other Comprehensive Income The Company records unrealized gains and losses on available-for-sale securities, changes in the fair value of cash flow hedges and certain pension and foreign currency translation adjustments in other comprehensive income (“OCI”) on an after-tax basis where applicable. The Company’s policy is to adjust the tax effects of a component of AOCI in the same period in which the item is sold or otherwise derecognized, or when the carrying value of the item is remeasured. Details of OCI, net of tax, are presented in the statement of comprehensive income and a roll forward of AOCI is presented in the consolidated statements of changes in stockholders’ equity and Note 13: Accumulated Other Comprehensive Income. Significant Revenue Recognition Accounting Policies Loan Interest and Fee Income Interest on loans is composed largely of interest on credit card loans and is recognized based on the amount of loans outstanding and their contractual interest rate. Interest on credit card loans is included in loan receivables when billed to the customer. The Company accrues unbilled interest revenue each month from a customer’s billing cycle date to the end of the month. The Company applies an estimate of the percentage of loans that will revolve in the next cycle in the estimation of the accrued unbilled portion of interest revenue that is included in other assets on the consolidated statements of financial condition. Interest on other loan receivables is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The Company recognizes fees (except balance transfer fees and certain product fees) on loan receivables in interest income or loan fee income as the fees are assessed. Balance transfer fees and certain product fees are recognized in interest income or loan fee income ratably over the periods to which they relate. Balance transfer fees are accreted to interest income over the estimated life of the related balance. As of December 31, 2024 and 2023, deferred revenues related to balance transfer fees, recorded as a reduction of loan receivables, were $83 million and $107 million, respectively. Loan fee income primarily consists of fees on credit card loans and includes late, cash advance, returned check and other miscellaneous fees and is reflected net of waivers and charge-offs. Direct loan origination costs on credit card loans are deferred and amortized on a straight-line basis over a one year period and recorded in interest income from credit card loans. Direct loan origination costs on other loan receivables are deferred and amortized over the life of the loan using the interest method and are recorded in interest income from other loans. As of December 31, 2024 and 2023, the remaining unamortized deferred costs related to loan origination were $242 million and $306 million, respectively, and were recorded in loan receivables. The Company accrues interest and fees on credit card and closed-end loan receivables until the loans are paid or charged off, except in instances of customer bankruptcy, death or suspected fraud, where no further interest and fee accruals occur following notification. Upon completion of the fraud investigation, non-fraudulent credit card and closed-end consumer loan receivables may resume accruing interest. Payments received on non-accrual loans are allocated according to the same payment hierarchy applied to loans that are accruing interest. When loan receivables are charged off, unpaid accrued interest and fees are reversed against the income line items in which they were originally recorded in the consolidated statements of income. Charge-offs and recoveries of amounts that relate to capitalized interest on private student loans are treated as principal charge-offs and recoveries, affecting the provision for credit losses rather than interest income. The Company considers uncollectible interest and fee revenues in assessing the adequacy of the allowance for credit losses. Interest income from loans disclosed as modifications to borrowers experiencing financial difficulty is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy applied to loans that have not been modified. Discount and Interchange Revenue The Company earns discount revenue from fees charged to merchants with whom it has entered into card acceptance agreements for processing credit card purchase transactions. The Company earns acquirer interchange revenue primarily from merchant acquirers on Discover Network, Diners Club and PULSE transactions made by credit and debit card customers at merchants with whom merchant acquirers have entered into card acceptance agreements for processing payment card transactions. These card acceptance arrangements generally renew automatically and do not have fixed durations. Under these agreements, the Company stands ready to process payment transactions as and when each is presented. The Company earns discount, interchange and similar fees only when transactions are processed. Contractually defined per-transaction fee amounts typically apply to each type of transaction processed and are recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions daily with merchants and acquirers and are fully earned at the time settlement is made. The Company pays issuer interchange to card-issuing entities that have entered into contractual arrangements to issue cards on the Discover Network and on certain transactions on the Diners Club and PULSE networks. This cost is contractually established and is based on the card-issuing organization’s transaction volume. The Company classifies this cost as a reduction of discount and interchange revenue. Costs of cardholder reward arrangements, including the Cashback Bonus reward program, are classified as reductions of discount and interchange revenue pursuant to guidance under Accounting Standards Codification (“ASC”) Topic 606 governing consideration payable to a customer. For both issuer interchange and transaction-based cardholder rewards, the Company accrues the cost at the time each underlying card transaction is captured for settlement. Customer Rewards The Company offers its customers various reward programs, including the Cashback Bonus reward program, pursuant to which the Company pays certain customers a reward equal to a percentage of their credit card purchase amounts based on the type and volume of the customer’s purchases. The liability for customer rewards is recorded on an individual customer basis and is accumulated as qualified customers earn rewards through their ongoing credit card purchase activity or other defined actions. The Company recognizes customer rewards costs as a reduction of the related revenue, if any. In instances where a reward is not associated with a revenue-generating transaction, such as when a reward is given for opening an account, the reward cost is recorded as an operating expense. For the years ended December 31, 2024, 2023 and 2022, rewards costs amounted to $3.0 billion, $3.1 billion and $3.0 billion, respectively. The liability for customer rewards was $2.1 billion and $2.2 billion at December 31, 2024 and 2023, respectively, and is included in accrued expenses and other liabilities on the consolidated statements of financial condition. Protection Products Revenue The Company earns revenue related to fees received for providing ancillary products and services, including payment protection and identity theft protection services, to its credit card customers. A portion of this revenue comprises amounts earned for arranging for the delivery of products offered by third-party service providers. The amount of revenue recorded is generally based on either a percentage of a customer’s outstanding balance or a flat fee, in either case assessed monthly and recognized as earned. These contracts are month-to-month arrangements that are cancellable at any time. The Company recognizes each monthly fee in the period to which the service or coverage relates. Transaction Processing Revenue Transaction processing revenue represents switch fees charged to financial institutions and merchants under network participation agreements for processing ATM and debit transactions over the PULSE network, as well as various participation and membership fees. Network participation agreements generally renew automatically and do not have fixed durations, although the Company does enter into fixed-term pricing or incentive arrangements with certain network participants. Similar to discount and interchange fees, switch fees are contractually defined per-transaction fee amounts and are assessed and recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions with network participants. Membership and other participation fees are recognized over the periods to which each fee relates. Other Income Other income includes gains and losses on equity investments, sales-based royalty revenues earned by Diners Club, merchant fees, revenues from network partners and other miscellaneous revenue items. Unrealized gains and losses on equity investments carried at fair value are recognized quarterly based on changes in their respective fair values. Sales-based royalty revenues are recognized as the related sales are reported by Diners franchisees. All remaining items of other income are recognized as the related performance obligations are satisfied. Future Revenue Associated with Customer Contracts For contracts under which the Company processes payment card transactions, the Company has the right to assess fees for services performed and to collect those fees through the settlement process. The Company generates essentially all of its discount and interchange revenue and transaction processing revenue, as well as some revenue reported as other income, through such contracts. T

Investments

Investments	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The Company’s other short-term investments and investment securities consist of the following (dollars in millions): December 31, 2024 2023 U.S. Treasury bills (1) $ 5,423 $ — Total other short-term investments $ 5,423 $ — U.S. Treasury (2) and U.S. GSE (3) securities $ 13,988 $ 12,937 Residential mortgage-backed securities - Agency (4) 642 718 Total investment securities $ 14,630 $ 13,655 (1) Includes U.S. Treasury bills with maturity dates greater than 90 days but less than one year at the time of acquisition. (2) Includes $364 million and $320 million of U.S. Treasury securities pledged as swap collateral as of December 31, 2024 and 2023, respectively. (3) Consists of securities issued by the Federal Home Loan Bank (“FHLB”) as of December 31, 2023. (4) Primarily consists of securities issued by Fannie Mae, Freddie Mac, or Ginnie Mae. The amortized cost, gross unrealized gains and losses and fair value of available-for-sale and held-to-maturity investment securities are as follows (dollars in millions): Amortized Gross Gross Fair Value At December 31, 2024 Available-for-Sale Investment Securities (1) U.S. Treasury securities $ 14,087 $ 9 $ (108) $ 13,988 Residential mortgage-backed securities - Agency 388 — (17) 371 Total available-for-sale investment securities $ 14,475 $ 9 $ (125) $ 14,359 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 271 $ — $ (24) $ 247 Total held-to-maturity investment securities $ 271 $ — $ (24) $ 247 At December 31, 2023 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 12,971 $ 52 $ (86) $ 12,937 Residential mortgage-backed securities - Agency 480 — (15) 465 Total available-for-sale investment securities $ 13,451 $ 52 $ (101) $ 13,402 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 253 $ — $ (19) $ 234 Total held-to-maturity investment securities $ 253 $ — $ (19) $ 234 (1) Available-for-sale investment securities are reported at fair value. (2) Held-to-maturity investment securities are reported at amortized cost. (3) Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives. The Company primarily invests in U.S. Treasury obligations and securities issued by a U.S. government agency (“Agency”) or U.S. GSEs, which have long histories with no credit losses and are explicitly or implicitly guaranteed by the U.S. federal government. Therefore, management has concluded that there is no expectation of non-payment on its investment securities and does not record an allowance for credit losses on these investments. In addition, the Company does not have the intent to sell any available-for-sale securities in an unrealized loss position and does not believe it is more likely than not that it will be required to sell any such security before recovery of its amortized cost basis. The following table provides information about available-for-sale investment securities with aggregate gross unrealized losses and the length of time that individual investment securities have been in a continuous unrealized loss position (dollars in millions): Less than 12 months More than 12 months Number of Securities in a Loss Position Fair Value Unrealized Losses Fair Value Unrealized Losses At December 31, 2024 Available-for-Sale Investment Securities U.S. Treasury securities 177 $ 9,492 $ (91) $ 1,963 $ (17) Residential mortgage-backed securities - Agency 30 $ — $ — $ 371 $ (17) At December 31, 2023 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 105 $ 3,513 $ (13) $ 3,978 $ (73) Residential mortgage-backed securities - Agency 31 $ — $ — $ 465 $ (15) During the year ended December 31, 2024, the Company had $8 million in proceeds from the sales of available-for-sale securities. During the years ended December 31, 2023 and 2022, the Company had no sales of available-for-sale securities. See Note 13: Accumulated Other Comprehensive Income for unrealized gains and losses on available-for-sale securities during the years ended December 31, 2024, 2023 and 2022. Maturities and weighted-average yields of available-for-sale debt securities and held-to-maturity debt securities are provided in the following table (dollars in millions): At December 31, 2024 One Year After One After Five After Ten Total Available-for-Sale Investment Securities — Amortized Cost U.S. Treasury securities $ 2,290 $ 11,797 $ — $ — $ 14,087 Residential mortgage-backed securities - Agency (1) — 44 100 244 388 Total available-for-sale investment securities $ 2,290 $ 11,841 $ 100 $ 244 $ 14,475 Held-to-Maturity Investment Securities — Amortized Cost Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 271 $ 271 Total held-to-maturity investment securities $ — $ — $ — $ 271 $ 271 Available-for-Sale Investment Securities — Fair Values U.S. Treasury securities $ 2,282 $ 11,706 $ — $ — $ 13,988 Residential mortgage-backed securities - Agency (1) — 43 96 232 371 Total available-for-sale investment securities $ 2,282 $ 11,749 $ 96 $ 232 $ 14,359 Held-to-Maturity Investment Securities — Fair Values Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 247 $ 247 Total held-to-maturity investment securities $ — $ — $ — $ 247 $ 247 Available-for-Sale Investment Securities — Weighted-Average Yields (2) U.S. Treasury securities 3.43 % 4.00 % — % — % 3.91 % Residential mortgage-backed securities - Agency (1) — % 2.11 % 3.25 % 3.63 % 3.36 % Total available-for-sale investment securities 3.43 % 3.99 % 3.25 % 3.63 % 3.89 % Held-to-Maturity Investment Securities — Weighted-Average Yields Residential mortgage-backed securities - Agency (1) — % — % — % 3.73 % 3.73 % Total held-to-maturity investment securities — % — % — % 3.73 % 3.73 % (1) Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost. Taxable interest on investment securities was $521 million, $449 million and $179 million for the years ended December 31, 2024, 2023 and 2022, respectively. U.S. federal income tax-exempt interest on investment securities for the year ended December 31, 2024 was immaterial. There was no U.S. federal income tax-exempt interest on investment securities for the years ended December 31, 2023 and 2022. Other Investments As a part of the Company’s community reinvestment initiatives, the Company has made equity investments in certain limited partnerships and limited liability companies that finance the construction and rehabilitation of affordable rental housing and stimulate economic development in low- to moderate-income communities. These investments are recorded within other assets amortization of the investments income tax credits and other income tax benefits recorded in income tax expense The Company holds non-controlling equity positions in several payment services entities and third-party venture capital funds, which invest in such entities. Most of the direct investments in such entities are not subject to equity method accounting because the Company does not have significant influence over the investee. The Company’s investments in third-party venture capital funds represent limited partnership interests and are accounted for under the equity method. The common or preferred equity securities that the Company holds typically do not have readily determinable fair values. As a result, these investments are carried at cost minus impairment, if any. As of December 31, 2024 and 2023, the carrying value of these investments, which are recorded within other assets on the Company’s consolidated statements of financial condition, was $38 million and $35 million, respectively.

Loan Receivables

Loan Receivables	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Loan Receivables	Loan Receivables The Company has two loan portfolio segments: credit card loans and other loans. The Company’s classes of receivables within the two portfolio segments are depicted in the following table (dollars in millions): December 31, 2024 2023 Credit card loans (1)(2) $ 102,786 $ 102,259 Other loans (3) Private student loans (4) — 10,352 Personal loans 10,314 9,852 Home loans 7,963 5,890 Other loans 55 56 Total other loans 18,332 26,150 Total loan receivables 121,118 128,409 Allowance for credit losses (8,323) (9,283) Net loan receivables $ 112,795 $ 119,126 (1) Amounts include carrying values of $10.8 billion and $14.8 billion underlying investors’ interest in trust debt at December 31, 2024 and 2023, respectively, and $18.6 billion and $15.6 billion in seller’s interest at December 31, 2024 and 2023, respectively. See Note 5: Credit Card Loan Securitization Activities for additional information. (2) Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $785 million and $753 million at December 31, 2024 and 2023, respectively. (3) Accrued interest receivable on personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $77 million and $30 million, respectively, at December 31, 2024. Accrued interest receivable on private student, personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023. (4) At December 31, 2023, there were $6.3 billion of private student loans in repayment. Credit Quality Indicators As part of credit risk management activities, on an ongoing basis, the Company reviews information related to the performance of a customer's account with the Company and information from credit bureaus, such as FICO or other credit scores, relating to the customer's broader credit performance. The Company actively monitors key credit quality indicators, including FICO scores and delinquency status, for credit card, personal and home loans. These indicators are important to understand the overall credit performance of the Company's customers and their ability to repay. FICO scores are generally obtained at the origination of the account and are refreshed monthly or quarterly thereafter to assist in predicting customer behavior. Historically, the Company has noted that accounts with FICO scores below 660 have larger delinquencies and credit losses than those with higher credit scores. The following table provides the distribution of the amortized cost basis (excluding accrued interest receivable presented in other assets) by the most recent FICO scores available for the Company's customers for credit card, personal and home loan receivables (dollars in millions): Credit Risk Profile by FICO Score December 31, 2024 2023 660 and Above Less than 660 660 and Above Less than 660 $ % $ % $ % $ % Credit card loans $ 82,422 80 % $ 20,364 20 % $ 82,238 80 % $ 20,021 20 % Personal loans by origination year 2024 $ 4,712 99 % $ 66 1 % 2023 3,042 94 % 203 6 % $ 5,149 98 % $ 100 2 % 2022 1,355 90 % 157 10 % 2,604 93 % 187 7 % 2021 478 89 % 60 11 % 1,049 92 % 91 8 % 2020 136 90 % 15 10 % 355 92 % 29 8 % Prior 74 82 % 16 18 % 247 86 % 41 14 % Total personal loans $ 9,797 95 % $ 517 5 % $ 9,404 95 % $ 448 5 % Home loans by origination year 2024 $ 2,853 100 % $ 13 — % 2023 2,293 97 % 77 3 % $ 2,614 97 % $ 86 3 % 2022 1,442 97 % 48 3 % 1,668 97 % 56 3 % 2021 653 97 % 19 3 % 765 97 % 22 3 % 2020 305 97 % 11 3 % 359 97 % 12 3 % Prior 240 96 % 9 4 % 294 95 % 14 5 % Total home loans $ 7,786 98 % $ 177 2 % $ 5,700 97 % $ 190 3 % Delinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when contractual payments on the loan become 30 days past due. The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent loans in the Company’s loan portfolio is shown below for credit card, personal and home loan receivables (dollars in millions): December 31, 2024 2023 30-89 Days 90 or Total Past 30-89 Days 90 or Total Past Credit card loans $ 1,964 $ 1,980 $ 3,944 $ 2,038 $ 1,917 $ 3,955 Personal loans by origination year 2024 $ 21 $ 7 $ 28 2023 51 21 72 $ 26 $ 8 $ 34 2022 34 15 49 44 16 60 2021 11 6 17 20 8 28 2020 3 1 4 7 2 9 Prior 3 1 4 7 5 12 Total personal loans $ 123 $ 51 $ 174 $ 104 $ 39 $ 143 Home loans by origination year 2024 $ 4 $ 1 $ 5 2023 17 9 26 $ 5 $ 1 $ 6 2022 20 14 34 12 5 17 2021 9 8 17 7 5 12 2020 4 4 8 3 3 6 Prior 4 4 8 5 5 10 Total home loans $ 58 $ 40 $ 98 $ 32 $ 19 $ 51 Allowance for Credit Losses The following tables provide changes in the Company’s allowance for credit losses (dollars in millions): For the Year Ended December 31, 2024 Credit Card Loans Private Student Personal Loans Home Loans Total Loans Balance at December 31, 2023 $ 7,619 $ 858 $ 722 $ 84 $ 9,283 Additions Provision for credit losses (1) 5,178 (770) 476 67 4,951 Deductions Charge-offs (6,522) (100) (484) (12) (7,118) Recoveries 1,128 12 66 1 1,207 Net charge-offs (5,394) (88) (418) (11) (5,911) Balance at December 31, 2024 $ 7,403 $ — $ 780 $ 140 $ 8,323 For the Year Ended December 31, 2023 Credit Card Loans Private Student Personal Loans Home Loans Total Loans Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 Cumulative effect of ASU No. 2022-02 adoption (2) (66) — (2) — (68) Balance at January 1, 2023 5,817 839 593 57 7,306 Additions Provision for credit losses (1) 5,476 152 363 28 6,019 Deductions Charge-offs (4,481) (155) (290) (1) (4,927) Recoveries 807 22 56 — 885 Net charge-offs (3,674) (133) (234) (1) (4,042) Balance at December 31, 2023 $ 7,619 $ 858 $ 722 $ 84 $ 9,283 For the Year Ended December 31, 2022 Credit Card Loans Private Student Personal Loans Home Loans Total Loans Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 Additions Provision for credit losses (1) 2,233 99 24 13 2,369 Deductions Charge-offs (2,417) (126) (159) — (2,702) Recoveries 794 23 68 — 885 Net charge-offs (1,623) (103) (91) — (1,817) Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 (1) Excludes a $40 million , $1 million and $10 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2024, 2023 and 2022, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company’s consolidated statements of financial condition. With the sale of the private student loan portfolio in 2024, a liability for expected credit losses on unfunded commitments is no longer recorded. (2) Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2022-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings. The allowance for credit losses was approximately $8.3 billion at December 31, 2024, which reflects a $1.0 billion release from the amount of the allowance for credit losses at December 31, 2023. The release in the allowance for credit losses between December 31, 2024 and December 31, 2023, was primarily driven by the reversal of the private student loans’ allowance due to the sale of the student loan portfolio. The allowance estimation process begins with a loss forecast that uses certain macroeconomic variables and multiple macroeconomic scenarios among its inputs. In estimating the allowance at December 31, 2024, the Company used a macroeconomic forecast that projected the following weighted average amounts: (i) unemployment rate ending 2025 at 4.56% and, within the Company’s reasonable and supportable period, peaking at 4.7% in the third quarter of 2025 and (ii) 1.8% growth rate in real gross domestic product in 2025. In estimating expected credit losses, the Company considered the uncertainties associated with borrower behavior and payment trends, as well as recent and expected macroeconomic conditions including those relating to consumer price inflation and the fiscal and monetary policy responses to that inflation. The Federal Reserve acted to reduce the federal funds target range by 100 basis points since September 2024 citing improvement in inflation outlook and shifting focus to ensuring robust economic growth. While Federal Reserve officials believe recent trends in inflation and employment continue to be supportive of a less restrictive monetary policy in the longer-term, near-term outlook is less certain as inflation persists at higher than targeted levels while economic output and labor market data remains strong. The timing and magnitude of rate decreases throughout 2025 will be dependent on closely monitored trends in economic data, particularly inflation and labor market conditions, and monetary policy is expected to remain restrictive. As easing of monetary policy typically precedes weaker consumer credit conditions caused by rising unemployment and slowing economic growth, the Company sees a pause in reducing interest rates as a sign of observed economic resilience. While credit performance in the Company's lending portfolios has evolved in line with its expectations, the Company assessed the prospects for various macroeconomic outcomes in setting its allowance for credit losses. The forecast period the Company deemed to be reasonable and supportable was 18 months for all periods presented. The 18-months reasonable and supportable forecast period was deemed appropriate given the current economic conditions. For all periods presented, the Company determined that a reversion period of 12 months was appropriate for the same reason. The Company applied a weighted reversion method to provide a more reasonable transition to historical losses for all loan products for all periods presented. The net charge-offs for credit card loans, personal and home loans increased for the year ended December 31, 2024, when compared to the year ended December 31, 2023, primarily due to portfolio seasoning. Net charge-offs of principal are recorded against the allowance for credit losses, as shown in the preceding table. Information regarding net charge-offs of interest and fee revenues on credit card and other loans is as follows (dollars in millions): (1) For the Years Ended December 31, 2024 2023 2022 Interest and fees accrued subsequently charged off, net of recoveries (recorded as a reduction of interest income) $ 1,105 $ 681 $ 303 Fees accrued subsequently charged off, net of recoveries (recorded as a reduction to other income) $ 256 $ 192 $ 100 (1) Amounts presented in this table include charge-offs related to private student loans through June 30, 2024, the date those loans were transferred to held-for-sale classification. Gross principal charge-offs of the Company's loan portfolio are presented in the table below, on a year-to-date basis, for credit card, personal and home loan receivables (dollars in millions): For the Twelve Months Ended December 31, 2024 For the Twelve Months Ended December 31, 2023 Credit card loans $ 6,522 $ 4,481 Personal loans by origination year 2024 $ 22 2023 183 $ 19 2022 170 119 2021 69 81 2020 22 33 Prior 18 38 Total personal loans $ 484 $ 290 Home loans by origination year 2024 $ — 2023 3 $ — 2022 6 — 2021 2 1 2020 — — Prior 1 — Total home loans $ 12 $ 1 Delinquent and Non-Accruing Loans The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent and non-accruing loans in the Company’s loan portfolio is shown below for each class of loan receivables (dollars in millions): (1) 30-89 Days 90 or Total Past 90 or Total Non-accruing (2) December 31, 2024 Credit card loans $ 1,964 $ 1,980 $ 3,944 $ 1,940 $ 194 Other loans Personal loans 123 51 174 50 11 Home loans 58 40 98 9 94 Total other loans 181 91 272 59 105 Total loan receivables $ 2,145 $ 2,071 $ 4,216 $ 1,999 $ 299 December 31, 2023 Credit card loans $ 2,038 $ 1,917 $ 3,955 $ 1,881 $ 197 Other loans Personal loans 104 39 143 37 11 Home loans 32 19 51 3 53 Other loans 7 — 7 — — Total other loans 143 58 201 40 64 Total loan receivables $ 2,181 $ 1,975 $ 4,156 $ 1,921 $ 261 (1) The payment status of both modified and unmodified loans is included in this table. (2) The Company estimates that the gross interest income that would have been recorded under the original terms of non-accruing credit card loans was $35 million, $37 million and $23 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company does not separately track the amount of gross interest income that would have been recorded under the original terms of loans. Instead, the Company estimated this amount based on customers’ current balances and most recent interest rates . Loan Modifications to Borrowers Experiencing Financial Difficulty The Company has internal loan modification programs that provide relief to credit card, personal and home loan borrowers who are experiencing financial hardship. The internal loan modification programs include both temporary and permanent programs, which vary by product. External loan modification programs, through third party consumer credit counseling agencies, are also available for credit card and personal loans. Those programs feature interest rate reductions, payment delays, term extensions, or a combination thereof. For credit card customers, the Company offers both temporary and permanent hardship programs. The temporary hardship programs consist of an interest rate reduction lasting for a period no longer than 12 months. Charging privileges on these accounts are generally suspended while in the program. However, if the customer meets certain criteria, charging privileges may be reinstated following completion of the program. The permanent modification program involves closing the account, changing the structure of the loan to a fixed payment loan with a maturity no longer than 72 months and reducing the interest rate on the loan. The permanent modification program does not typically provide for the forgiveness of unpaid principal, but may allow for the reversal of certain unpaid interest or fee assessments. The Company also makes permanent loan modifications for customers who request financial assistance through external sources, such as a consumer credit counseling agency program. These loans typically receive a reduced interest rate, typically continue to be subject to the original minimum payment terms and do not normally include waiver of unpaid principal, interest or fees. For personal loan customers, the Company offers various payment programs, including temporary and permanent programs, in certain situations. The temporary programs normally consist of reducing the minimum payment for no longer than 12 months and, in certain circumstances, the interest rate on the loan is reduced. The permanent programs involve extending the loan term and, in certain circumstances, reducing the interest rate on the loan. The total term of the loan, including modification, may not exceed nine years. The Company also allows permanent loan modifications for customers who request financial assistance through external sources, similar to the credit card customers discussed above. Payments are modified based on the new terms agreed upon with the credit counseling agency. For home loan customers experiencing financial difficulties, the Company offers relief in the form of interest rate reductions and term extensions. Detailed quantitative disclosures about home loan modifications have been omitted because the amounts are immaterial in the periods presented. In addition to the programs described above, the Company will in certain cases accept partial payment in full satisfaction of the outstanding receivable. This is a form of principal forgiveness also known as a settlement. The difference between the loan balance and the amount received at settlement is recorded as a charge-off. The Company monitors borrower performance after using payment programs. The Company believes the programs are useful in assisting customers experiencing financial difficulties and allowing them to make timely payments. In addition to helping customers with their credit needs, these programs are designed to maximize collections and ultimately the Company’s profitability. The Company plans to continue to use payment programs to provide relief to customers experiencing financial difficulties. The following table provides the period-end amortized cost basis, by modification category, of loans to borrowers experiencing financial difficulty that entered a modification program during the period (dollars in millions). Some of the loans presented in the table below may no longer be enrolled in a program at period-end: For the Twelve Months Ended December 31, 2024 2023 Credit card loans (1)(2) Interest rate reduction $ 3,425 $ 2,330 Total credit card loans (3) $ 3,425 $ 2,330 % of total class of financing receivables 3.33 % 2.28 % Personal loans (1) Payment delay (4) $ 13 $ 10 Term extension (5) 41 29 Interest rate reduction and payment delay (4) 91 65 Interest rate reduction and term extension (5) 45 29 Total personal loans (3) $ 190 $ 133 % of total class of financing receivables 1.84 % 1.35 % (1) Accrued interest receivable (including unbilled accrued interest receivable for credit card loans) on modified loans to borrowers experiencing financial difficulty, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was immaterial at December 31, 2024 and 2023. (2) Accounts that entered a credit card loan modification program include $616 million and $408 million that were converted from revolving line-of-credit arrangements to term loans during the years ended December 31, 2024 and 2023. (3) For settlements, the amortized cost basis is zero at period-end and therefore there is no amount reported for principal forgiveness in the table above. See financial effects table below for principal forgiveness to borrowers experiencing financial difficulty. (4) The Company defines a payment delay as a temporary reduction in payments below the original contractually required payment amounts (e.g., interest-only payments). The Company's credit card loan modification programs do not result in an other than insignificant delay in payment. (5) The Company defines term extensions as only those modifications for which the maturity date is extended beyond the original contractual maturity date by virtue of a change in terms other than a payment delay as defined above. Modifications to credit card loans are not considered term extensions because credit card loans do not have a fixed repayment term. The following table provides information on the financial effects of loan modifications to borrowers experiencing financial difficulty, by modification type, made during the period (dollars in millions): For the Twelve Months Ended December 31, 2024 2023 Credit card loans Weighted-average interest rate reduction 14.33 % 13.85 % Principal forgiven $ 229 $ 121 Interest and fees forgiven (1) $ 219 $ 117 Personal loans Weighted-average interest rate reduction 13.61 % 12.28 % Weighted-average term extension (in months) 48 39 Payment delay duration (in months) (2) 6 to 12 6 to 12 (1) Represents the amount of interest and fees forgiven resulting from accounts entering into a credit card loan modification program and pre-charge off settlements. Interest and fees forgiven are reversed against the respective line items in the consolidated statements of income. (2) During 2024, for personal loan payment delays, the Company limits this assistance to a life of loan maximum of 12 months. Loan receivables that have been modified are subject to the same requirements for the accrual of expected credit loss over their expected remaining lives as for unmodified loans. The allowance for credit losses incorporates modeling of historical loss data and thereby captures the higher risk associated with modified loans to borrowers experiencing financial difficulty based on their account attributes. The following table presents the payment status and period-end amortized cost basis, by class of loan receivable, of loans that were modified on or after January 1, 2023 to borrowers experiencing financial difficulty during the 12 months preceding each of the periods presented (dollars in millions): (1) Current 30-89 Days 90 or More Days At December 31, 2024 Credit card loans $ 2,885 $ 297 $ 244 Personal loans 156 29 6 Total $ 3,041 $ 326 $ 250 At December 31, 2023 Credit card loans $ 1,882 $ 252 $ 196 Personal loans 109 20 4 Total $ 1,991 $ 272 $ 200 (1) This table includes any loan that entered a modification program during the preceding 12 months without regard to whether it remained in a modification program as of the reporting date. The following table presents the defaulted amount and period-end amortized cost basis, by modification category, of loans that defaulted during the period and were modified on or after January 1, 2023 through the end of the reporting period to borrowers experiencing financial difficulty during the 12 months preceding default (dollars in millions): For the Twelve Months Ended December 31, 2024 For the Twelve Months Ended December 31, 2023 Defaulted Amount (1) Period-end Amortized Cost Basis Defaulted Amount (1) Period-end Amortized Cost Basis Credit card loans Interest rate reduction $ 906 $ 447 $ 383 $ 210 Total credit card loans $ 906 $ 447 $ 383 $ 210 Personal loans Payment delay $ 4 $ 2 $ 2 $ 1 Term extension 9 3 4 2 Interest rate reduction and payment delay 32 7 10 2 Interest rate reduction and term extension 21 8 7 3 Total personal loans $ 66 $ 20 $ 23 $ 8 (1) For purposes of this disclosure, a loan is considered to be defaulted when it is 60 days or more delinquent at month end and has advanced two stages of delinquency subsequent to modification. Loans that entered a modification program in any stage of delinquency but did not experience a further payment default are included in the payment status table above but are not counted as defaulted for purposes of this disclosure. Geographical Distribution of Loans The Company originated credit card loans throughout the U.S. The geographic distribution of the Company’s credit card loan receivables was as follows (dollars in millions): December 31, 2024 2023 $ % $ % Texas $ 9,195 8.9 % $ 9,150 8.9 % California 9,065 8.8 9,078 8.9 Florida 7,636 7.4 7,496 7.3 New York 6,496 6.3 6,538 6.4 Illinois 5,017 4.9 5,012 4.9 Pennsylvania 4,988 4.9 4,985 4.9 Ohio 4,180 4.1 4,188 4.1 New Jersey 3,511 3.4 3,499 3.4 Georgia 3,343 3.3 3,294 3.2 Michigan 2,808 2.7 2,821 2.8 Other 46,547 45.3 46,198 45.2 Total credit card loans $ 102,786 100.0 % $ 102,259 100.0 % The Company originated personal, home and other loans throughout the U.S. The geographic distribution of personal, home and other loan receivables was as follows (dollars in millions): (1) December 31, 2024 2023 $ % $ % California $ 2,024 11.0 % $ 2,449 9.4 % Texas 1,658 9.0 1,987 7.6 Florida 1,428 7.8 1,607 6.1 New York 1,043 5.7 2,074 7.9 Illinois 771 4.2 1,405 5.4 Georgia 765 4.2 851 3.3 New Jersey 746 4.1 1,285 4.9 Pennsylvania 683 3.7 1,567 6.0 Ohio 586 3.2 975 3.7 Virginia 570 3.1 778 3.0 Other 8,058 44.0 11,172 42.7 Total other loans $ 18,332 100.0 % $ 26,150 100.0 % (1) The U.S. geographic distribution as of December 31, 2023, includes the balances of private student loans prior to their sale in 2024.

Credit Card Loan Securitization

Credit Card Loan Securitization Activities	12 Months Ended
	Dec. 31, 2024
Variable Interest Entities Disclosure [Abstract]
Credit Card Loan Securitization Activities	Credit Card Loan Securitization Activities The Company’s securitizations are accounted for as secured borrowings and the related trusts are treated as consolidated subsidiaries of the Company. For a description of the Company’s principles of consolidation with respect to VIEs, see Note 1: Background and Basis of Presentation. The Company accesses the term asset securitization market through DCMT and DCENT. Credit card loan receivables are transferred into DCMT and beneficial interests in DCMT are transferred into DCENT. DCENT issues debt securities to investors that are reported primarily in long-term borrowings. The DCENT debt structure consists of four classes of securities (DiscoverSeries Class A, B, C and D notes), with the most senior class generally receiving a triple-A rating. To issue senior, higher-rated classes of notes, it is necessary to obtain the appropriate amount of credit enhancement, generally through the issuance of junior, lower-rated or more highly subordinated classes of notes. Wholly-owned subsidiaries of Discover Bank hold the subordinated classes of notes. The Company is exposed to credit risk associated with trust receivables as of the balance sheet date through the retention of these subordinated interests. The estimate of expected credit losses on trust receivables is included in the allowance for credit losses estimate. The Company’s retained interests in the trust’s assets, consisting of investments in DCENT notes held by subsidiaries of Discover Bank, constitute intercompany positions that are eliminated in the preparation of the Company’s consolidated statements of financial condition. Upon transfer of credit card loan receivables to the trust, the receivables and certain cash flows derived from them become restricted for use in meeting obligations to the trust’s creditors. Further, the transferred credit card loan receivables are owned by the trust and are not available to the Company’s third-party creditors. The trusts have ownership of cash balances, the amounts of which are reported in restricted cash within the Company’s consolidated statements of financial condition. Except for the seller’s interest in trust receivables, the Company’s interests in trust assets are generally subordinate to the interests of third-party investors in trust debt and, as such, may not be realized by the Company if needed to absorb deficiencies in cash flows that are allocated to those investors. Apart from the restricted assets related to securitization activities, the investors and the securitization trusts have no recourse to the Company’s other assets or the Company’s general credit for a shortage in cash flows. The carrying values of these restricted assets, which are presented on the Company’s consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): December 31, 2024 2023 Restricted cash $ 25 $ 36 Investors’ interests held by third-party investors 8,500 11,725 Investors’ interests held by wholly-owned subsidiaries of Discover Bank 2,260 3,117 Seller’s interest 18,634 15,598 Loan receivables (1) 29,394 30,440 Allowance for credit losses allocated to securitized loan receivables (1) (1,294) (1,347) Net loan receivables 28,100 29,093 Other assets 1 2 Carrying value of assets of consolidated variable interest entities $ 28,126 $ 29,131 (1) The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP. The debt securities issued by the consolidated trusts are subject to credit, payment and interest rate risks on the transferred credit card loan receivables. To protect investors in the securities, there are certain features or triggering events that will cause an early amortization of the debt securities, including triggers related to the impact of the performance of the trust receivables on the availability and adequacy of cash flows to meet contractual requirements. As of December 31, 2024, no economic or other early amortization events have occurred. The Company continues to own and service the accounts that generate the loan receivables held by the trusts. Discover Bank receives servicing fees from the trusts based on a percentage of the monthly investor principal balance outstanding. Although the fee income to Discover Bank offsets the fee expense to the trusts and thus is eliminated in consolidation, failure to service the transferred loan receivables in accordance with contractual requirements could lead to a termination of the servicing rights and the loss of future servicing income, net of related expenses.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Premises and Equipment	Premises and Equipment A summary of premises and equipment, net is as follows (dollars in millions): December 31, 2024 2023 Land $ 29 $ 37 Buildings and improvements 520 605 Furniture, fixtures and equipment 780 1,155 Software 1,217 1,305 Premises and equipment 2,546 3,102 Less: accumulated depreciation (970) (1,409) Less: accumulated amortization of software (504) (602) Premises and equipment, net $ 1,072 $ 1,091 Depreciation expense was $71 million, $74 million and $80 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense on capitalized software was $173 million, $113 million and $114 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill As of December 31, 2024 and 2023, the Company had goodwill of $255 million related to PULSE, which is part of the Payment Services segment. The Company conducted its annual goodwill impairment test as of October 1, 2024 and 2023 and no impairments were identified.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2024
Deposits [Abstract]
Deposits	Deposits The Company obtains deposits from consumers directly (“direct-to-consumer deposits”) and through third-party securities brokerage firms that offer the Company’s deposits to their customers (“brokered deposits”). Direct-to-consumer deposit products include savings accounts, certificates of deposit, money market accounts, IRA savings accounts, IRA certificates of deposit and checking accounts. Brokered deposit products include certificates of deposit and sweep accounts. Customer deposits held with Discover Bank are currently insured for up to $250,000 per account holder through the Federal Deposit Insurance Corporation (“FDIC”). Uninsured deposits are the portion of deposit accounts in U.S. offices that exceed the FDIC insurance limit or similar state deposit insurance regime, and amounts in any other uninsured investment or deposit accounts that are classified as deposits and not subject to any federal or state deposit insurance regime. At December 31, 2024 and 2023, Discover Bank had approximately $9.3 billion and $7.0 billion of uninsured deposits, respectively, a portion of which comprise intercompany deposits. The amounts of uninsured deposits above were estimated based on the same methodologies and assumptions used for Discover Bank’s regulatory reporting at each respective balance sheet date. The following table summarizes certificates of deposit in uninsured accounts and accounts that are in excess of the FDIC insurance limit by time remaining until maturity (dollars in millions): At December 31, 2024 Three months or less $ 276 Over three months through six months 315 Over six months through twelve months 281 Over twelve months 260 Total $ 1,132 The following table summarizes certificates of deposit maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2024 2025 $ 28,448 2026 5,515 2027 4,542 2028 2,202 2029 439 Thereafter 804 Total $ 41,950

Long-Term Borrowings

Long-Term Borrowings	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-Term Borrowings Long-term borrowings consist of borrowings having original maturities of one year or more. The following table provides a summary of the Company’s long-term borrowings and weighted-average interest rates on outstanding balances (dollars in millions): December 31, 2024 2023 Maturity Interest Weighted-Average Interest Rate Outstanding Amount Outstanding Amount Securitized Debt Fixed-rate asset-backed securities (1) 2025-2026 1.03% - 5.03% 3.55% $ 8,475 $ 10,003 Floating-rate asset-backed securities 2024 0.00% —% — 925 Total Discover Card Master Trust I and Discover Card Execution Note Trust 8,475 10,928 Floating-rate asset-backed security (2) 2031 0.00% —% — 65 Total private student loan securitization trust — 65 Total long-term borrowings - owed to securitization investors 8,475 10,993 Discover Financial Services (Parent Company) Fixed-rate senior notes 2025-2032 3.75% - 6.70% 4.80% 2,840 3,336 Fixed-rate retail notes 2025-2031 3.25% - 4.40% 3.82% 138 140 Fixed to floating-rate senior notes (3) 2034 7.96% 7.96% 993 993 Discover Bank Fixed-rate senior bank notes (1) 2026-2030 2.70% - 4.65% 3.82% 2,792 3,571 Fixed-rate subordinated bank notes 2028 5.97% 5.97% 492 500 Fixed-rate Federal Home Loan Bank advances 2030 4.77% - 4.82% 4.82% 523 523 Floating-rate Federal Home Loan Bank advances (4) 2024 0.00% - 0.00% —% — 525 Total long-term borrowings $ 16,253 $ 20,581 (1) The Company uses interest rate swaps to hedge portions of these long-term borrowings against changes in fair value attributable to changes in the applicable benchmark interest rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 21: Derivatives and Hedging Activities. (2) As part of the sale of the private student loan portfolio, the Company sold its beneficial interest in its remaining private student loan securitization trust, which resulted in the derecognition of loan receivables held by the trust and debt issued by the trust. (3) The fixed to floating-rate senior notes include a rate reset on November 2, 2033, to a floating rate based on compounded SOFR + 3.370%. (4) The floating-rate FHLB advances include interest rate terms based on SOFR plus a spread ranging from 16 to 26 basis points as of December 31, 2023. The following table summarizes long-term borrowings maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2024 2025 $ 6,170 2026 4,905 2027 1,002 2028 1,415 2029 7 Thereafter 2,754 Total $ 16,253 As a member of the FHLB of Chicago, the Company has access to both short- and long-term advance structures with maturities ranging from overnight to 30 years. As of December 31, 2024, the Company had total committed borrowing capacity of $5.2 billion based on the amount and type of assets pledged, of which the outstanding balance was comprised of $523 million in long-term advances. As of December 31, 2023, the Company had total committed borrowing capacity of $3.6 billion based on the amount and type of assets pledged, of which the outstanding balance was comprised of $1.0 billion in long-term advances. These advances are presented as short- or long-term borrowings on the consolidated statements of financial condition based on the contractual maturity at origination. Additionally, the Company has access to committed borrowing capacity through private securitizations to support the funding of its credit card loan receivables. As of December 31, 2024, the total commitment of secured credit facilities through private providers was $3.5 billion, none of which was drawn. As of December 31, 2023, the total commitment of secured credit facilities through private providers was $3.5 billion, $750 million of which was outstanding as a short-term advance and presented as short-term borrowings on the consolidated statements of financial condition. Access to the unused portions of the secured credit facilities is subject to the terms of the agreements with each of the providers. The secured credit facilities have various expirations in 2025 and 2026. Borrowings outstanding under each facility bear interest at a margin above the Term Secured Overnight Financing Rate (“SOFR”) or the asset-backed commercial paper costs of each provider. The terms of each agreement provide for a commitment fee to be paid on the unused capacity and include various affirmative and negative covenants, including performance metrics and legal requirements similar to those required to issue any term securitization transaction.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans The Company has two stock-based compensation plans: the Discover Financial Services Omnibus Incentive Plan (“Omnibus Plan”) and the Discover Financial Services Directors’ Compensation Plan (“Directors’ Compensation Plan”). Omnibus Plan The Omnibus Plan, which is stockholder-approved, provides for the award of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance stock units (“PSUs”) and other stock-based and/or cash awards (collectively, “awards”). Currently, the Company does not have any stock options, stock appreciation rights or restricted stock outstanding. Effective May 2023, the Discover Financial Services Amended and Restated 2014 Omnibus Incentive Plan (the “Prior Plan”) was replaced with the Discover Financial Services 2023 Omnibus Incentive Plan (the “Plan”). Subject to adjustments for certain transactions in the Plan, the total number of shares that may be granted is 18 million shares reduced by the number of shares granted under the Prior Plan. Shares granted under the Omnibus Plan may be the following: (i) authorized but unissued shares and (ii) treasury shares that the Company acquires in the open market, in private transactions or otherwise. Directors’ Compensation Plan The Directors’ Compensation Plan, which is stockholder-approved, permits the grant of RSUs to non-employee directors. Under the Directors’ Compensation Plan, the Company may issue awards of up to a total of 1 million shares of common stock to non-employee directors. Shares of stock that are issuable pursuant to the awards granted under the Directors’ Compensation Plan may be one of the following: authorized but unissued shares, treasury shares or shares that the Company acquires in the open market. Annual awards for eligible directors are calculated by dividing $170,000 by the fair market value of a share of stock on the date of grant and are subject to a restriction period whereby 100% of such units shall vest in full on the earlier of the first anniversary of the date of grant or immediately prior to the first annual meeting of shareholders following the date of grant. RSUs include the right to receive dividend equivalents in the same amount and at the same time as dividends paid to all Company common shareholders. Stock-Based Compensation The following table details the compensation cost, net of forfeitures (dollars in millions): For the Years Ended December 31, 2024 2023 2022 RSUs $ 86 $ 69 $ 58 PSUs 9 5 31 Total stock-based compensation expense $ 95 $ 74 $ 89 Income tax benefit $ 19 $ 18 $ 16 RSUs The following table sets forth the activity related to vested and unvested RSUs: Number of Units Weighted-Average Remaining Contractual Term (in years) Aggregate RSUs at December 31, 2023 1,944,117 $ 219 Granted 1,018,909 Conversions to common stock (1,365,035) Forfeited (270,974) RSUs at December 31, 2024 1,327,017 0.89 $ 230 Vested and convertible RSUs at December 31, 2024 107,283 0.00 $ 19 The following table sets forth the activity related to unvested RSUs: Number of Units Weighted-Average Grant-Date Fair Value Unvested RSUs at December 31, 2023 1) 1,157,694 $ 106.87 Granted 1,018,909 $ 111.69 Vested (733,413) $ 108.78 Forfeited (270,974) $ 109.17 Unvested RSUs at December 31, 2024 (1) 1,172,216 $ 109.33 (1) Unvested RSUs represent awards where recipients have yet to satisfy either explicit vesting terms or retirement-eligibility requirements. Compensation cost associated with RSUs is determined based on the number of units granted and the fair value on the date of grant. The fair value is amortized on a straight-line basis, net of estimated forfeitures, over the requisite service period for each separately vesting tranche of the award. The requisite service period is generally the vesting period. The following table summarizes the total intrinsic value of the RSUs converted to common stock and the total grant-date fair value of RSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2024 2023 2022 Intrinsic value of RSUs converted to common stock $ 172 $ 68 $ 59 Grant-date fair value of RSUs vested $ 80 $ 56 $ 41 Weighted-average grant-date fair value of RSUs granted $ 111.69 $ 104.20 $ 116.50 As of December 31, 2024, there was $45 million of total unrecognized compensation cost related to non-vested RSUs. The cost is expected to be recognized over a weighted-average period of 0.84 years. RSUs provide for accelerated vesting if there is a change in control or upon certain terminations (as defined in the Omnibus Plan or the award certificate). RSUs include the right to receive dividend equivalents in the same amount and at the same time as dividends paid to all Company common shareholders. PSUs The following table sets forth the activity related to vested and unvested PSUs: Number of Units Weighted-Average Grant-Date Fair Value Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value PSUs at December 31, 2023 (1) 580,677 $ 108.56 $ 65 Granted 116,539 $ — Conversions to common stock (364,211) $ 94.26 Forfeited (72,358) $ 108.72 PSUs at December 31, 2024 (1)(2)(3)(4) 260,647 $ 116.69 0.64 $ 45 (1) All PSUs outstanding at December 31, 2024 and December 31, 2023, are unvested PSUs. (2) Includes 117,374 PSUs granted in 2022 that are earned based on the Company’s cumulative earnings per share (“EPS”) as measured over the three-year performance period, which ended December 31, 2024, and are subject to the requisite service period, which ended February 1, 2025. (3) Includes 143,273 PSUs granted in 2023 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2025, and are subject to the requisite service period, which ends February 1, 2026. (4) No PSUs were granted in 2024. Compensation cost associated with PSUs is determined based on the number of instruments granted, the fair value on the date of grant and the performance factor. The fair value is amortized on a straight-line basis, net of estimated forfeitures, over the requisite service period. Each PSU outstanding at December 31, 2024, is a restricted stock instrument that is subject to additional conditions and constitutes a contingent and unsecured promise by the Company to pay up to 1.5 shares per unit of the Company’s common stock on the conversion date for the PSU, contingent on the number of PSUs to be issued. PSUs have a performance period of three years and a vesting period of three years. The requisite service period of an award having both performance and service conditions is the longest of the explicit, implicit and derived service periods. The following table summarizes the total intrinsic value of the PSUs converted to common stock and the total grant-date fair value of PSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2024 2023 2022 Intrinsic value of PSUs converted to common stock $ 43 $ 47 $ 29 Grant-date fair value of PSUs vested $ 34 $ 35 $ 17 Weighted-average grant-date fair value of PSUs granted (1) $ — $ 110.70 $ 124.01 (1) No PSUs were granted in 2024. As of December 31, 2024, there was $3 million of total unrecognized compensation cost related to non-vested PSUs. The cost is expected to be recognized over a weighted-average period of 0.74 years. PSUs provide for accelerated vesting if there is a change in control or upon certain terminations (as defined in the Omnibus Plan or the award certificate). PSUs include the right to receive dividend equivalents, which will accumulate and pay out in cash if and when the underlying shares are issued.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company sponsors the Discover Financial Services Pension Plan (the “Discover Pension Plan”), which is a non-contributory defined benefit plan that is qualified under Section 401(a) of the Internal Revenue Code, for eligible employees in the U.S. Effective December 31, 2008, the Discover Pension Plan was amended to discontinue the accrual of future benefits. The Company also sponsors the Discover Financial Services 401(k) Plan (the “Discover 401(k) Plan”), which is a defined contribution plan that is qualified under Section 401(a) of the Internal Revenue Code, for its eligible U.S. employees. Discover Pension Plan The Discover Pension Plan generally provides retirement benefits that are based on each participant’s years of credited service prior to 2009 and on compensation specified in the Discover Pension Plan. The Company’s policy is to fund at least the amounts sufficient to meet minimum funding requirements under the Employee Retirement Income Security Act of 1974, as amended. Net periodic benefit cost (income) is recorded in employee compensation and benefits within the consolidated statements of income. For this plan, the net periodic benefit cost was immaterial for all periods presented. The Company measures the funded status of the defined benefit pension plan as the difference between the fair value of plan assets and the projected benefit obligation and recognizes that amount as either an asset or liability in the consolidated statements of financial condition as appropriate. As of December 31, 2024 and 2023, the over-funded status related to the defined benefit pension plan recorded in other assets was $5 million and $14 million, respectively. Expected benefit payments from the Discover Pension Plan for each of the next five years range from $29 million and $33 million annually. Discover 401(k) Plan Under the Discover 401(k) Plan, eligible U.S. employees receive 401(k) matching contributions. Eligible employees also receive fixed employer contributions. The pretax expense associated with the Company contributions for the years ended December 31, 2024, 2023 and 2022 was $137 million, $128 million and $104 million, respectively.

Common and Preferred Stock

Common and Preferred Stock	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Common and Preferred Stock	Common and Preferred Stock Common Stock Repurchase Program During the year ended December 31, 2024, there were no share repurchases. In accordance with the Merger Agreement with Capital One, the Company paused share repurchases through the completion of the merger. Preferred Stock The table below presents a summary of the Company's non-cumulative perpetual preferred stock that is outstanding at December 31, 2024 (dollars in millions, except per depositary share amounts): Series Description Initial Issuance Date Liquidation Preference and Redemption Price per Depositary Share (1) Per Annum Dividend Rate in effect at December 31, 2024 Total Depositary Shares Authorized, Issued and Outstanding Carrying Value December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 C (2)(3)(4) Fixed-to-Floating Rate 10/31/2017 $ 1,000 5.500 % 570,000 570,000 $ 563 $ 563 D (2)(5)(6) Fixed-Rate Reset 6/22/2020 $ 1,000 6.125 % 500,000 500,000 493 493 Total Preferred Stock 1,070,000 1,070,000 $ 1,056 $ 1,056 (1) Redeemable at the redemption price plus declared and unpaid dividends. (2) Issued as depositary shares, each representing 1/100 th interest in a share of the corresponding series of preferred stock. Each preferred share has a par value of $0.01. (3) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part on any dividend payment date on or after October 30, 2027, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series C preferred stock). (4) Any dividends declared are payable semi-annually in arrears at a rate of 5.500% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month Term SOFR plus a spread of 3.338% per annum. (5) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part during the three-month period prior to, and including, each reset date (as defined in the certificate of designations for the Series D preferred stock) or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series D Preferred Stock). (6) Any dividends declared are payable semi-annually in arrears at a rate of 6.125% per annum until September 23, 2025, after which the dividend rate will reset every 5 years to a fixed annual rate equal to the 5-year Treasury plus a spread of 5.783%.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Changes in each component of AOCI were as follows (dollars in millions): Unrealized (Losses) Gains on Available-for-Sale Investment Securities, Net of Tax Losses on Cash Flow Hedges, Net of Tax Losses on Pension Plan, Net of Tax AOCI For the Year Ended December 31, 2024 Balance at December 31, 2023 $ (37) $ (8) $ (180) $ (225) Net change (49) (12) (10) (71) Balance at December 31, 2024 $ (86) $ (20) $ (190) $ (296) For the Year Ended December 31, 2023 Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339) Net change 99 6 9 114 Balance at December 31, 2023 $ (37) $ (8) $ (180) $ (225) For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94) Net change (250) (5) 10 (245) Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339) The following table presents each component of OCI before reclassifications and amounts reclassified from AOCI for each component of OCI before- and after-tax (dollars in millions): Before Tax Tax Benefit (Expense) Net of Tax For the Year Ended December 31, 2024 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (66) $ 17 $ (49) Net change $ (66) $ 17 $ (49) Cash Flow Hedges Net unrealized losses arising during the period $ (152) $ 37 $ (115) Amounts reclassified from AOCI 136 (33) 103 Net change $ (16) $ 4 $ (12) Pension Plan Unrealized losses arising during the period $ (13) $ 3 $ (10) Net change $ (13) $ 3 $ (10) For the Year Ended December 31, 2023 Available-for-Sale Investment Securities Net unrealized holding gains arising during the period $ 131 $ (32) $ 99 Net change $ 131 $ (32) $ 99 Cash Flow Hedges Net unrealized losses arising during the period $ (74) $ 18 $ (56) Amounts reclassified from AOCI 82 (20) 62 Net change $ 8 $ (2) $ 6 Pension Plan Unrealized gains arising during the period $ 12 $ (3) $ 9 Net change $ 12 $ (3) $ 9 For the Year Ended December 31, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (331) $ 81 $ (250) Net change $ (331) $ 81 $ (250) Cash Flow Hedges Net unrealized losses arising during the period $ (13) $ 3 $ (10) Amounts reclassified from AOCI 4 1 5 Net change $ (9) $ 4 $ (5) Pension Plan Unrealized gains arising during the period $ 13 $ (3) $ 10 Net change $ 13 $ (3) $ 10

Other Expense

Other Expense	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Other Expense	Other Expense Total other expense includes the following components (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Fraud losses and other charges $ 122 $ 131 $ 149 Postage 123 115 97 Credit-related inquiry fees 49 40 31 Supplies 38 38 35 Other expense 597 479 228 Total other expense $ 929 $ 803 $ 540

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense consisted of the following (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Current U.S. federal $ 1,136 $ 1,254 $ 1,465 U.S. state and local 241 258 312 Total 1,377 1,512 1,777 Deferred U.S. federal 144 (595) (398) U.S. state and local 18 (76) (54) Total 162 (671) (452) Income tax expense $ 1,539 $ 841 $ 1,325 The following table reconciles the Company’s effective tax rate to the U.S. federal statutory income tax rate: For the Years Ended December 31, 2024 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % U.S. state, local and other income taxes, net of U.S. federal income tax benefits 3.6 3.5 3.4 Accrual for nondeductible penalties 1.2 — — Tax credits (0.5) (2.1) (1.3) Other — 0.7 0.4 Effective income tax rate 25.3 % 23.1 % 23.5 % Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Valuation allowances are provided to reduce deferred tax assets to an amount that is more likely than not to be realized. The Company evaluates the likelihood of realizing its deferred tax assets by estimating sources of future taxable income and the impact of tax planning strategies. Significant components of the Company’s net deferred income taxes, which are included in other assets in the Company’s consolidated statements of financial condition, were as follows (dollars in millions): December 31, 2024 2023 Deferred tax assets Allowance for credit losses $ 2,011 $ 2,245 Card product misclassification liability 296 282 Customer fees and rewards 284 236 Other 217 172 Total deferred tax assets before valuation allowance 2,808 2,935 Valuation allowance (1) (1) Total deferred tax assets, net of valuation allowance 2,807 2,934 Deferred tax liabilities Deferred loan origination costs (24) (40) Accretion income (85) (39) Other (6) (8) Total deferred tax liabilities (115) (87) Net deferred tax assets $ 2,692 $ 2,847 A reconciliation of beginning and ending unrecognized tax benefits is as follows (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Balance at beginning of period $ 18 $ 19 $ 39 Additions Current year tax positions 3 4 4 Prior year tax positions 2 — 1 Reductions Prior year tax positions (3) (1) (20) Settlements with taxing authorities (1) (1) — Expired statute of limitations (4) (3) (5) Balance at end of period (1) $ 15 $ 18 $ 19 (1) For the years ended December 31, 2024, 2023 and 2022, amounts included $14 million, $18 million and $18 million, respectively, of unrecognized tax benefits, which, if recognized, would favorably affect the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. Interest and penalties related to unrecognized tax benefits were $1 million and $2 million, respectively, for the years ended December 31, 2024 and 2023. The Company is subject to examination by the Internal Revenue Service and tax authorities in various state, local and foreign tax jurisdictions. The Company's federal income tax filings are open to examinations for the tax years ended December 31, 2021 and forward. The Company regularly assesses the likelihood of additional assessments or settlements in each of the taxing jurisdictions. At this time, the potential change in unrecognized tax benefits is expected to be immaterial over the next 12 months. The Company believes that its reserves are sufficient to cover any tax, penalties and interest that would result from such examinations. The Company has an immaterial amount of state net operating loss carryforwards that are subject to a partial valuation allowance as of December 31, 2024 and 2023.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts): For the Years Ended December 31, 2024 2023 2022 Numerator Net income $ 4,535 $ 2,796 $ 4,316 Preferred stock dividends (62) (62) (62) Net income available to common stockholders 4,473 2,734 4,254 Income allocated to participating securities (27) (19) (26) Net income allocated to common stockholders $ 4,446 $ 2,715 $ 4,228 Denominator Weighted-average shares of common stock outstanding 251 254 277 Effect of dilutive common stock equivalents — — 1 Weighted-average shares of common stock outstanding and common stock equivalents 251 254 278 Basic earnings per common share $ 17.72 $ 10.71 $ 15.25 Diluted earnings per common share $ 17.72 $ 10.70 $ 15.23 Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2024, 2023 and 2022.

Capital Adequacy

Capital Adequacy	12 Months Ended
	Dec. 31, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Capital Adequacy	Capital Adequacy DFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company’s banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company’s business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. DFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee’s December 2010 framework (“Basel III rules”). Under the Basel III rules, DFS and Discover Bank are classified as “standardized approach” entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. In accordance with the final rule on the impact of current expected credit losses (“CECL”) on regulatory capital, the Company elected to phase in the impact over three years beginning in 2022 and ending December 31, 2024. Accordingly, the Company's Common Equity Tier 1 ("CET1") capital ratios have been higher than they otherwise would have been. As of December 31, 2024 and 2023, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered “well-capitalized” under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS’ or Discover Bank’s category. To be categorized as “well-capitalized,” DFS and Discover Bank must maintain minimum capital ratios outlined in the table below. The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and “well-capitalized” requirements (dollars in millions): Actual Minimum Capital Capital Requirements Amount Ratio (1) Amount Ratio Amount (2) Ratio (2) December 31, 2024 Total capital (to risk-weighted assets) Discover Financial Services $ 20,420 16.5 % $ 9,892 ≥8.0% $ 12,365 ≥10.0% Discover Bank $ 17,311 14.2 % $ 9,755 ≥8.0% $ 12,193 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 18,503 15.0 % $ 7,419 ≥6.0% $ 7,419 ≥6.0% Discover Bank $ 14,665 12.0 % $ 7,316 ≥6.0% $ 9,755 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 18,503 12.3 % $ 6,003 ≥4.0% N/A N/A Discover Bank $ 14,665 9.9 % $ 5,933 ≥4.0% $ 7,417 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 17,448 14.1 % $ 5,564 ≥4.5% N/A N/A Discover Bank $ 14,665 12.0 % $ 5,487 ≥4.5% $ 7,926 ≥6.5% December 31, 2023 Total capital (to risk-weighted assets) Discover Financial Services $ 17,399 13.2 % $ 10,509 ≥8.0% $ 13,137 ≥10.0% Discover Bank $ 16,409 12.7 % $ 10,381 ≥8.0% $ 12,976 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,279 11.6 % $ 7,882 ≥6.0% $ 7,882 ≥6.0% Discover Bank $ 13,459 10.4 % $ 7,786 ≥6.0% $ 10,381 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,279 10.3 % $ 5,915 ≥4.0% N/A N/A Discover Bank $ 13,459 9.2 % $ 5,833 ≥4.0% $ 7,292 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,223 10.8 % $ 5,911 ≥4.5% N/A N/A Discover Bank $ 13,459 10.4 % $ 5,839 ≥4.5% $ 8,435 ≥6.5% (1) Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions. (2) The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve’s Regulation Y have been included where available. The amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $2.6 billion, $1.7 billion and $4.0 billion in the years ended December 31, 2024, 2023 and 2022, respectively, to DFS.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	12 Months Ended
	Dec. 31, 2024
Commitments Contingencies and Guarantees [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees In the normal course of business, the Company enters into a number of off-balance sheet commitments, transactions and obligations under guarantee arrangements that expose the Company to varying degrees of risk. The Company’s commitments, contingencies and guarantee relationships are described below. Commitments Unused Credit Arrangements At December 31, 2024, the Company had unused credit arrangements for loans of approximately $232.6 billion. Such arrangements arise primarily from agreements with customers for unused lines of credit on certain credit cards and certain other loan products, provided there is no violation of conditions in the related agreements. These arrangements, substantially all of which the Company can terminate at any time and which do not necessarily represent future cash requirements, are periodically reviewed based on account usage, customer creditworthiness, loan qualification and the cost of capital. As the Company’s credit card loans are unconditionally cancellable, no liability for expected credit losses is required for unused lines of credit. Contingencies See Note 19: Litigation and Regulatory Matters for a description of potential liability arising from pending litigation or regulatory proceedings involving the Company. Guarantees The Company has obligations under certain guarantee arrangements, including contracts, indemnification agreements and representations and warranties, which contingently require the Company to make payments to the guaranteed party based on changes in an underlying asset, liability or equity security of a guaranteed party, rate or index. Also included as guarantees are contracts that contingently require the Company to make payments to a guaranteed party based on another entity’s failure to perform under an agreement. The Company’s use of guarantees is disclosed below by type of guarantee. Securitizations Representations and Warranties As part of the Company’s financing activities, the Company provides representations and warranties that certain assets pledged as collateral in secured borrowing arrangements conform to specified guidelines. Due diligence is performed by the Company, which is intended to ensure that asset guideline qualifications are met. If the assets pledged as collateral do not meet certain conforming guidelines, the Company may be required to replace, repurchase or sell such assets. In its credit card securitization activities, the Company would replace nonconforming receivables through the allocation of excess seller’s interest or from additional transfers from the unrestricted pool of receivables. If the Company could not add enough receivables to satisfy the requirement, an early amortization (or repayment) of investors’ interests would be triggered. The maximum potential amount of future payments the Company could be required to make would be equal to the current outstanding balances of third-party investor interests in credit card asset-backed securities, plus any unpaid interest for the corresponding secured borrowings. The Company has recorded substantially all of the maximum potential amount of future payments in long-term borrowings on the Company’s consolidated statements of financial condition. The Company has not recorded any incremental contingent liability associated with its secured borrowing representations and warranties. Management believes that the probability of having to replace, repurchase or sell assets pledged as collateral under secured borrowing arrangements, including an early amortization event, is low. Counterparty Settlement Guarantees Diners Club and DFS Services LLC (on behalf of PULSE) have various counterparty exposures, which are listed below: • Merchant Guarantee . Diners Club has entered into contractual relationships with certain international merchants, which generally include travel-related businesses, for the benefit of all Diners Club licensees. The licensees hold the primary liability to settle the transactions of their customers with these merchants. However, Diners Club retains a counterparty exposure if a licensee fails to meet its financial payment obligation to one of these merchants. • ATM Guarantee. PULSE entered into contractual relationships with certain international ATM acquirers in which DFS Services LLC retains counterparty exposure if an issuer fails to fulfill its settlement obligation. • Global Network Alliance Guarantee. Discover Network, Diners Club and PULSE have entered into contractual relationships with certain international payment networks in which DFS Services LLC retains the counterparty exposure if a network fails to fulfill its settlement obligation. The maximum potential amount of future payments related to such contingent obligations is dependent upon the transaction volume processed between the time a potential counterparty defaults on its settlement and the time at which the Company disables the settlement of any further transactions for the defaulting party. The Company has some contractual remedies to offset these counterparty settlement exposures (such as letters of credit or pledged deposits), however, there is no limitation on the maximum amount the Company may be liable to pay. The actual amount of the potential exposure cannot be quantified as the Company cannot determine whether particular counterparties will fail to meet their settlement obligations. In the event all licensees and/or issuers were to become unable to settle their transactions, the Company estimates its maximum potential counterparty exposures to these settlement guarantees would be approximately $120 million as of December 31, 2024. The Company believes that the estimated amounts of maximum potential future payments are not representative of the Company’s actual potential loss exposure given Diners Club’s and PULSE’s insignificant historical losses from these counterparty exposures. As of December 31, 2024, the Company had not recorded any contingent liability in the consolidated statements of financial condition for these counterparty exposures and management believes that the probability of any payments under these arrangements is low. Discover Network Merchant Chargeback Guarantees The Company operates the Discover Network, issues payment cards and permits third parties to issue payment cards. The Company is contingently liable for certain transactions processed on the Discover Network in the event of a dispute between the payment card customer and a merchant. The contingent liability arises if the disputed transaction involves a merchant or merchant acquirer with whom the Discover Network has a direct relationship. If a dispute is resolved in the customer’s favor, the Discover Network will credit or refund the disputed amount to the Discover Network card issuer, who in turn credits its customer’s account. The Discover Network will then charge back the disputed amount of the payment card transaction to the merchant or merchant acquirer, where permitted by the applicable agreement, to seek recovery of amounts already paid to the merchant for payment card transactions. If the Discover Network is unable to collect the amount subject to dispute from the merchant or merchant acquirer (e.g., in the event of merchant default or dissolution or after expiration of the time period for chargebacks in the applicable agreement), the Discover Network will bear the loss for the amount credited or refunded to the customer. In most instances, a loss by the Discover Network is unlikely to arise in connection with payments on card transactions because most products or services are delivered when purchased and credits are issued by merchants on returned items in a timely fashion, thus minimizing the likelihood of cardholder disputes with respect to amounts paid by the Discover Network. However, where the product or service is not scheduled to be provided to the customer until a later date following the purchase, the likelihood of a contingent payment obligation by the Discover Network increases. Losses related to merchant chargebacks were not material for the years ended December 31, 2024, 2023 and 2022. The maximum potential amount of obligations of the Discover Network arising from such contingent obligations is estimated to be the portion of the total Discover Network transaction volume processed to date for which timely and valid disputes may be raised under applicable law and relevant issuer and customer agreements. There is no limitation on the maximum amount the Company may be liable to pay to issuers. However, the Company believes that such amount is not representative of the Company’s actual potential loss exposure based on the Company’s historical experience. The actual amount of the potential exposure cannot be quantified as the Company cannot determine whether the current or cumulative transaction volumes may include or result in disputed transactions. The following table summarizes certain information regarding merchant chargeback guarantees (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Aggregate sales transaction volume (1) $ 245,958 $ 257,611 $ 256,237 (1) Represents transactions processed on the Discover Network for which a potential liability exists that, in aggregate, can differ from credit card sales volume. The Company did not record any contingent liability in the consolidated financial statements for merchant chargeback guarantees as of December 31, 2024 and 2023. The Company mitigates the risk of potential loss exposure by withholding settlement from merchants, obtaining third-party guarantees, or obtaining escrow deposits or letters of credit from certain merchant acquirers or merchants that are considered a higher risk due to various factors such as time delays in the delivery of products or services. As of December 31, 2024 and 2023, the Company had escrow deposits and settlement withholdings of $11 million and $10 million, respectively, which are recorded in interest-bearing deposit accounts and accrued expenses and other liabilities on the Company’s consolidated statements of financial condition.

Litigation and Regulatory Matte

Litigation and Regulatory Matters	12 Months Ended
	Dec. 31, 2024
Loss Contingency [Abstract]
Litigation and Regulatory Matters	Litigation and Regulatory Matters In the normal course of business, from time to time, the Company has been named as a defendant in various legal actions, including arbitrations, class actions and other litigation, arising in connection with its activities. Certain of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. The litigation process is not predictable and can lead to unexpected results. The Company contests liability and/or the amount of damages as appropriate in each pending matter. The Company has historically offered its customers an arbitration clause in its customer agreements. The arbitration clause allows the Company and its customers to quickly and economically resolve disputes. Additionally, the arbitration clause has in some instances limited the costs of, and the Company’s exposure to, litigation. Future legal and regulatory challenges and prohibitions may cause the Company to discontinue its offering and use of such clauses. From time to time, the Company is involved in legal actions challenging its arbitration clause. Bills may be periodically introduced in Congress to directly or indirectly prohibit the use of pre-dispute arbitration clauses. The Company is also involved, from time to time, in other reviews, investigations and proceedings (both formal and informal) by governmental agencies regarding the Company’s business including, among other matters, regulatory, accounting, tax and other operational matters. The investigations and proceedings may result in significant adverse judgments, settlements, fines, penalties, injunctions, decreases in regulatory ratings, customer restitution or other relief. These outcomes could materially impact the Company’s consolidated financial statements, increase its cost of operations, or limit the Company’s ability to execute its business strategies and engage in certain business activities. Certain subsidiaries of the Company are subject to consent orders with the Consumer Financial Protection Bureau (“CFPB”) and FDIC, as described below. Pursuant to powers granted under federal banking laws, regulatory agencies have broad and sweeping discretion and may assess civil money penalties, require changes to certain business practices or require customer restitution at any time. In accordance with applicable accounting guidance, the Company establishes a liability for legal and regulatory matters when those matters create loss contingencies that are both probable and estimable. Except as discussed below regarding the card product misclassification matter, other litigation and regulatory settlement-related expenses were immaterial for the years ended December 31, 2024, 2023 and 2022. There may be an exposure to loss in excess of any amounts accrued. The Company believes the estimate of the aggregate range of reasonably possible losses (meaning the likelihood of losses is more than remote but less than likely), in excess of the amounts that the Company has accrued for legal and regulatory proceedings, is up to $70 million as of December 31, 2024. This estimated range of reasonably possible losses is based on currently available information for those proceedings in which the Company is involved and considers the Company’s best estimate of such losses for those matters for which an estimate can be made. It does not represent the Company’s maximum potential loss exposure. Various aspects of the legal and regulatory proceedings underlying the estimated range will change from time to time and actual results may vary significantly from the estimate. The Company’s estimated range noted above involves significant judgment, given the varying stages of the proceedings, the existence of numerous yet to be resolved issues, the breadth of the claims (often spanning multiple years and, in some cases, a wide range of business activities), unspecified damages and/or the novelty of the legal issues presented. The outcome of pending matters could adversely affect the Company’s reputation and be material to the Company’s consolidated financial condition, operating results and cash flows for a particular future period, depending on, among other things, the level of the Company’s income for such period. In July 2015, the Company announced that its subsidiaries, Discover Bank, The Student Loan Corporation and Discover Products Inc. (the “Discover Subsidiaries”), agreed to a consent order with the CFPB with respect to certain private student loan servicing practices (the “2015 Order”). The 2015 Order expired in July 2020. In December 2020, the Discover Subsidiaries agreed to a consent order (the “2020 Order”) with the CFPB resolving the agency’s investigation into Discover Bank’s compliance with the 2015 Order. In connection with the 2020 Order, Discover is required to implement a redress and compliance plan and must pay at least $10 million in consumer redress to consumers who may have been harmed and has paid a $25 million civil money penalty to the CFPB. On September 25, 2023, following the consent of the Board of Directors of Discover Bank, the FDIC issued a consent order (the “2023 Order”) to Discover Bank. The 2023 Order addressed shortcomings in Discover Bank’s compliance management system for consumer protection laws and related matters. As part of the 2023 Order, Discover Bank agreed to improve its consumer compliance management system and enhance related corporate governance and enterprise risk management practices, and increase the level of Board oversight of such matters. Management and the Board are committed to meeting all the requirements of the 2023 Order. Discover Bank has been working diligently to complete items required by the 2023 Order. This includes having retained third party consultants to conduct independent reviews and the submission of action plans to the FDIC by the required deadlines for review and feedback. The actions completed to date, taken together with actions previously undertaken to improve and enhance its compliance management system and enhance related corporate governance, address multiple consent order objectives, however, many provisions require longer term implementation. Depending on regulatory feedback, the timing of approvals and sustainability periods, necessary work is not likely to be completed until later in 2025. On March 8, 2016, a class-action lawsuit was filed against the Company, other credit card networks, other issuing banks and EMVCo in the U.S. District Court for the Northern District of California (B&R Supermarket, Inc., d/b/a Milam’s Market, et al. v. Visa, Inc., et al.) alleging a conspiracy by defendants to shift fraud liability to merchants with the migration to the EMV security standard and chip technology. The plaintiffs assert joint and several liability among the defendants and seek unspecified damages, including treble damages, attorneys’ fees, costs and injunctive relief. On December 6, 2024, plaintiffs and the Company reached an agreement on the terms of a class-wide settlement to resolve the claims against the Company. The parties finalized a settlement agreement on February 14, 2025, and that settlement must now be approved by the court. Card Product Misclassification As of December 31, 2024, the balance of the Company’s counterparty restitution liability was $1.2 billion, reflecting additional accruals for interest on the overcharges committed to as part of the counterparty restitution plan approved by the Board of Directors in the third quarter of 2023, additional concessions agreed to as part of the class action settlement negotiations through the fourth quarter of 2024 and settlement disbursements made year-to-date. As reported in the Company’s Current Report on Form 8-K filed on July 3, 2024, the Company and certain of its subsidiaries entered into a settlement agreement to resolve putative class actions filed on behalf of merchants allegedly affected by the card product misclassification. The settlement agreement, which is subject to court approval, would resolve claims by parties affected by the card product misclassification (merchants, merchants acquirers and other intermediaries). The Company expects all payments under the settlement agreement to be covered by the $1.2 billion liability. Substantially all of the liability represents amounts payable to or on behalf of impacted merchants, merchant acquirers and other intermediaries in settlement of the card product misclassification matter, with $26 million of that balance representing provision for legal fees and expenses payable to plaintiffs’ counsel. On August 27, 2024, plaintiffs moved for preliminary approval, and on October 22, 2024, the court entered an order granting preliminary approval. Subsequently, the parties to the putative class action entered into a revised settlement agreement which resulted in minor adjustments to the restitution liability in the fourth quarter of 2024. On January 22, 2025, plaintiffs moved for preliminary approval of the revised settlement agreement. The liability does not include any potential regulatory fines or penalties, or the cost of administering the distribution of funds to affected parties. The following table summarizes the change in the Company’s counterparty restitution liability pertaining to the card product misclassification (dollars in millions): For the Year Ended Balance at December 31, 2023 $ 1,159 Provision for refund of overcharges — Provision for interest on overcharges 56 Provision for other settlement concessions 85 Disbursements (76) Balance at December 31, 2024 $ 1,224 The Company remains in discussion with its various regulators regarding the card product misclassification. During 2024, the Company recognized approximately $290 million, recorded in other expense on the consolidated statements of income for the year ended December 31, 2024, representing the Company’s current estimate of potential penalties to be imposed by its various regulators related to this matter. Actual penalties imposed are subject to further discussion with the Company’s various regulators and may be more or less than such amount. In addition, the Company and its subsidiaries have been named as defendants in various lawsuits, including a putative class action on behalf of shareholders and a shareholder derivative action. The Company is also cooperating with an SEC investigation into the card product misclassification matter. The Company believes that additional losses are probable as a result of these actions and such losses could be material but it is not able to make a reasonable estimate of the amount or range of such losses as of December 31, 2024.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820, Fair Value Measurement , provides a three-level hierarchy for classifying the inputs to valuation techniques used to measure fair value of financial instruments based on whether the inputs are observable or unobservable. It also requires certain disclosures about those measurements. The three-level valuation hierarchy is as follows: • Level 1 : Fair values determined by Level 1 inputs are defined as those that utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 : Fair values determined by Level 2 inputs are those that utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active or inactive markets, quoted prices for the identical assets in an inactive market and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. The Company evaluates factors such as the frequency of transactions, the size of the bid-ask spread and the significance of adjustments made when considering transactions involving similar assets or liabilities to assess the relevance of those observed prices. If relevant and observable prices are available, the fair values of the related assets or liabilities would be classified as Level 2. • Level 3 : Fair values determined by Level 3 inputs are those based on unobservable inputs and include situations where there is little, if any, market activity for the asset or liability being valued. In instances where the inputs used to measure fair value may fall into different levels of the fair value hierarchy, the level in the fair value hierarchy in which the measurements are classified is based on the lowest level input that is significant to the fair value measurement in its entirety. Accordingly, the Company may utilize both observable and unobservable inputs in determining the fair values of financial instruments classified within the Level 3 category. The Company evaluates the classification of each fair value measurement within the hierarchy at least quarterly. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and involves consideration of factors specific to the asset or liability. Furthermore, certain techniques used to measure fair value involve some degree of judgment and, as a result, are not necessarily indicative of the amounts the Company would realize in a current market exchange. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are as follows (dollars in millions): Quoted Price in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Balance at December 31, 2024 Assets Fair value - OCI Other short-term investments $ 5,423 $ — $ — $ 5,423 U.S. Treasury securities $ 13,988 $ — $ — $ 13,988 Residential mortgage-backed securities - Agency — 371 — 371 Available-for-sale investment securities $ 13,988 $ 371 $ — $ 14,359 Derivative financial instruments - cash flow hedges (1) $ — $ 1 $ — $ 1 Liabilities Fair value - OCI Derivative financial instruments - cash flow hedges (1) $ — $ 1 $ — $ 1 Balance at December 31, 2023 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 12,928 $ 9 $ — $ 12,937 Residential mortgage-backed securities - Agency — 465 — 465 Available-for-sale investment securities $ 12,928 $ 474 $ — $ 13,402 Derivative financial instruments - cash flow hedges (1) $ — $ 2 $ — $ 2 Fair value - Net income Marketable equity securities $ 1 $ — $ — $ 1 Derivative financial instruments - fair value hedges (1) $ — $ 2 $ — $ 2 (1) Derivative instrument carrying values in an asset or liability position are presented as part of other assets or accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition. Other Short-Term Investments Other short-term investments consist of U.S. Treasury bills with contractual maturities greater than 90 days but less than one year at the time of acquisition. The fair value estimates of these investments are classified as Level 1 based on quoted market prices for the same securities. Available-for-Sale Investment Securities Investment securities classified as available-for-sale consist of U.S. Treasury and U.S. GSE securities and RMBS. The fair value estimates of investment securities classified as Level 1, consisting of U.S. Treasury securities, are determined based on quoted market prices for the same securities. The fair value estimates of U.S. GSE securities and RMBS are classified as Level 2 and are valued by maximizing the use of relevant observable inputs, including quoted prices for similar securities, benchmark yield curves and market-corroborated inputs. The Company validates the fair value estimates provided by pricing services primarily by comparing to valuations obtained through other pricing sources. The Company evaluates pricing variances among different pricing sources to ensure that the valuations utilized are reasonable. The Company also corroborates the reasonableness of the fair value estimates with analysis of trends of significant inputs, such as market interest rate curves. The Company further performs due diligence in understanding the procedures and techniques performed by the pricing services to derive fair value estimates. At December 31, 2024, amounts reported in RMBS reflect U.S. government agency obligations issued by Ginnie Mae, Fannie Mae and Freddie Mac with an aggregate par value of $388 million, a weighted-average coupon of 4.12% and a weighted-average remaining maturity of four years. Derivative Financial Instruments The Company’s derivative financial instruments consist of interest rate swaps and foreign exchange forward contracts. These instruments are classified as Level 2 as their fair values are estimated using proprietary pricing models, containing certain assumptions based on readily observable market-based inputs, including interest rate curves, option volatility and foreign currency forward and spot rates. In determining fair values, the pricing models use widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity and the observable market-based inputs. The fair values of the interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates derived from the observable market interest rate curves. The Company considers collateral and master netting agreements that mitigate credit exposure to counterparties in determining the counterparty credit risk valuation adjustment. The fair values of the foreign exchange forward contracts are valued by comparing the contracted forward exchange rate pertaining to the specific contract maturities to the current market exchange rate. The Company validates the fair value estimates of interest rate swaps primarily through comparison to the fair value estimates computed by the counterparties to each of the derivative transactions. The Company evaluates pricing variances among different pricing sources to ensure that the valuations utilized are reasonable. The Company also corroborates the reasonableness of the fair value estimates with analysis of trends of significant inputs, such as market interest rate curves. The Company performs due diligence in understanding the impact of any changes to the valuation techniques performed by proprietary pricing models before implementation, working closely with the third-party valuation service and reviewing the service’s control objectives at least annually. The Company corroborates the fair value of foreign exchange forward contracts through independent calculation of the fair value estimates. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company also has assets that, under certain conditions, are subject to measurement at fair value on a non-recurring basis. These assets include those associated with acquired businesses, including goodwill. For these assets, measurement at fair value in periods subsequent to the initial recognition of the assets may be applicable whenever one is tested for impairment. No impairments were recognized related to these assets for the years ended December 31, 2024 and 2023. Financial Instruments Measured at Other Than Fair Value The following tables disclose the estimated fair value of the Company’s financial assets and financial liabilities that are not required to be carried at fair value (dollars in millions): Balance at December 31, 2024 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 247 $ — $ 247 $ 271 Held-to-maturity investment securities $ — $ 247 $ — $ 247 $ 271 Net loan receivables $ — $ — $ 120,422 $ 120,422 $ 112,795 Carrying value approximates fair value (1) Cash and cash equivalents $ 8,474 $ — $ — $ 8,474 $ 8,474 Restricted cash $ 25 $ — $ — $ 25 $ 25 Accrued interest receivables (2) $ — $ 998 $ — $ 998 $ 998 Liabilities Amortized cost Time deposits (3) $ — $ 42,228 $ — $ 42,228 $ 41,950 Long-term borrowings - owed to securitization investors $ — $ 8,456 $ — $ 8,456 $ 8,475 Other long-term borrowings — 7,891 — 7,891 7,778 Long-term borrowings $ — $ 16,347 $ — $ 16,347 $ 16,253 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 315 $ — $ 315 $ 315 Balance at December 31, 2023 Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 234 $ — $ 234 $ 253 Held-to-maturity investment securities $ — $ 234 $ — $ 234 $ 253 Net loan receivables $ — $ — $ 126,940 $ 126,940 $ 119,126 Carrying value approximates fair value (1) Cash and cash equivalents $ 11,685 $ — $ — $ 11,685 $ 11,685 Restricted cash $ 43 $ — $ — $ 43 $ 43 Accrued interest receivables (2) $ — $ 1,450 $ — $ 1,450 $ 1,450 Liabilities Amortized cost Time deposits (3) $ — $ 45,333 $ — $ 45,333 $ 45,240 Short-term borrowings $ — $ 750 $ — $ 750 $ 750 Long-term borrowings - owed to securitization investors $ — $ 10,770 $ 65 $ 10,835 $ 10,993 Other long-term borrowings — 9,469 — 9,469 9,588 Long-term borrowings $ — $ 20,239 $ 65 $ 20,304 $ 20,581 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 421 $ — $ 421 $ 421 (1) The carrying values of these assets and liabilities approximate fair value due to their short-term nature. (2) Accrued interest receivable and payable carrying values are presented as part of other assets and accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition. (3) Excludes deposits without contractually defined maturities for all periods presented.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company uses derivatives to manage its exposure to various financial risks. The Company does not enter into derivatives for trading or speculative purposes. Certain derivatives used to manage the Company’s exposure to foreign currency are not designated as hedges and do not qualify for hedge accounting. Derivatives may give rise to counterparty credit risk, which generally is mitigated through collateral arrangements as described under the sub-heading “— Collateral Requirements and Credit-Risk Related Contingency Features.” The Company enters into derivative transactions with established dealers that meet minimum credit criteria established by the Company. All counterparties must be pre-approved before engaging in any transaction with the Company. The Company regularly monitors counterparties to ensure compliance with the Company’s risk policies and limits. In determining the counterparty credit risk valuation adjustment for the fair values of derivatives, if any, the Company considers collateral and legally enforceable master netting agreements that mitigate credit exposure to related counterparties. All derivatives are recorded in other assets at their gross positive fair values and in accrued expenses and other liabilities at their gross negative fair values. See Note 20: Fair Value Measurements for a description of the valuation methodologies used for derivatives. Cash collateral amounts associated with derivative positions that are cleared through an exchange are legally characterized as settlement of the derivative positions. Such collateral amounts are reflected as offsets to the associated derivatives balances recorded in other assets or in accrued expenses and other liabilities. Other cash collateral posted and held balances are recorded in other assets and deposits, respectively, in the consolidated statements of financial condition. Collateral amounts recorded in the consolidated statements of financial condition are based on the net collateral posted or held position for each applicable legal entity’s master netting arrangement with each counterparty. Derivatives Designated as Hedges Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows arising from changes in interest rates, or other types of forecasted transactions, are considered cash flow hedges. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Cash Flow Hedges The Company uses interest rate swaps to manage its exposure to variability in cash flows related to changes in interest rates on interest-earning assets and funding instruments. These interest rate swaps qualify for hedge accounting in accordance with ASC Topic 815, Derivatives and Hedging (“ASC 815”). At December 31, 2024 and 2023, the Company’s outstanding cash flow hedges primarily relate to interest receipts from credit card receivables and had an initial maximum period of five years. The change in the fair value of derivatives designated as cash flow hedges is recorded in OCI and is subsequently reclassified into earnings in the period that the hedged forecasted cash flows affect earnings. Amounts reported in AOCI related to derivatives at December 31, 2024, will be reclassified to interest income and interest expense as interest receipts and payments are accrued on the Company’s then outstanding credit card receivables and certain floating-rate debt, respectively. During the next 12 months, the Company estimates it will reclassify $14 million into pretax earnings related to its cash flow hedges. Fair Value Hedges The Company is exposed to changes in the fair value of its fixed-rate debt obligations due to changes in interest rates. The Company uses interest rate swaps to manage its exposure to changes in the fair value of certain fixed-rate long-term borrowings, including securitized debt and bank notes, and deposits attributable to changes in the respective benchmark rates. These interest rate swaps qualify as fair value hedges in accordance with ASC 815. Changes in the fair values of both (i) the derivatives and (ii) the hedged long-term borrowings and deposits attributable to the interest rate risk being hedged are recorded in interest expense and generally provide substantial offset to one another. Derivatives Not Designated as Hedges Foreign Exchange Forward Contracts The Company has foreign exchange forward contracts that are economic hedges and are not designated as accounting hedges. The Company enters into foreign exchange forward contracts to manage foreign currency risk. Changes in the fair value of these contracts are recorded in other income on the consolidated statements of income. Derivatives Cleared Through an Exchange Cash variation margin payments on derivatives cleared through an exchange are legally considered settlement payments and are accounted for with corresponding derivative positions as one unit of account and not presented separately as collateral. With settlement payments on derivative positions cleared through this exchange reflected as offsets to the associated derivative asset and liability balances, the fair values of derivative instruments and collateral balances shown are generally reduced. Derivatives Activity The following table summarizes the fair value (including accrued interest) and outstanding notional amounts of derivative instruments and related collateral balances (dollars in millions): December 31, 2024 2023 Notional Number of Derivative Assets Derivative Liabilities Notional Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps — cash flow hedge $ 17,750 20 $ 1 $ 1 $ 10,650 $ 2 $ — Interest rate swaps — fair value hedge $ 15,371 19 — — $ 8,650 2 — Derivatives not designated as hedges Foreign exchange forward contracts (1) $ 28 4 — — $ 29 — — Total gross derivative assets/liabilities (2) 1 1 4 — Less: collateral held/posted (3) — (1) — — Total net derivative assets/liabilities $ 1 $ — $ 4 $ — (1) The foreign exchange forward contracts have notional amounts of EUR 1 million, GBP 3 million, SGD 1 million and INR 1.8 billion as of December 31, 2024, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 1.1 billion and AUD 2 million as of December 31, 2023. (2) In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities and tax exempt single family mortgage revenue bonds as part of its community reinvestment initiatives. At December 31, 2024, the Company had one outstanding contract with a total notional amount of $65 million and an immaterial fair value. At December 31, 2023, the Company had one outstanding contract with a total notional amount of $35 million and an immaterial fair value. (3) Collateral amounts, which consist of cash and investment securities, are limited to the related derivative asset/liability balance and do not include excess collateral received/pledged. The following amounts were recorded on the statements of financial condition related to cumulative basis adjustments for fair value hedges (dollars in millions): December 31, 2024 2023 Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Long-term borrowings $ 15,324 $ (8) $ 8,620 $ — (1) The balance includes $5 million and $12 million of cumulative hedging adjustments related to discontinued hedging relationships as of December 31, 2024 and 2023, respectively. The following table summarizes the impact of the derivative instruments on income and indicates where within the consolidated financial statements such impact is reported (dollars in millions): Location and Amount of (Losses) Gains Recognized on the Consolidated Statements of Income Interest Expense Deposits Long-Term Interest Income Other Income Other Expense For the Year Ended December 31, 2024 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (4,772) $ (933) $ 16,109 $ 763 $ 929 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ 9 $ (158) $ — $ — Gains on discontinued cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ — $ — $ — $ 13 (Losses) gains on fair value hedging relationships (Losses) gains on hedged items $ (19) $ 21 $ — $ — $ — (Losses) gains on interest rate swaps (1) (158) — — — Total (losses) gains on fair value hedging relationships $ (20) $ (137) $ — $ — $ — For the Year Ended December 31, 2023 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (3,886) $ (855) $ 14,438 $ 85 $ 803 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ 9 $ (91) $ — $ — Gains (losses) on fair value hedging relationships Gains (losses) on hedged items $ — $ (19) $ — $ — $ — Gains (losses) on interest rate swaps — (80) — — — Total gains (losses) on fair value hedging relationships $ — $ (99) $ — $ — $ — For the Year Ended December 31, 2022 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (1,257) $ (606) $ 10,632 $ 75 $ 540 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ (2) $ (2) $ — $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ — $ 66 $ — $ — $ — Gains (losses) on interest rate swaps — (70) — — — Total gains (losses) on fair value hedging relationships $ — $ (4) $ — $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ — $ 1 $ — For the impact of the derivative instruments on OCI, see Note 13: Accumulated Other Comprehensive Income. Collateral Requirements and Credit-Risk Related Contingency Features The Company has master netting arrangements and minimum collateral posting thresholds with its counterparties for its fair value and cash flow hedge interest rate swaps and foreign exchange forward contracts. The Company has not sought a legal opinion in relation to the enforceability of its master netting arrangements and, as such, does not report any of these positions on a net basis. Collateral is required by either the Company or its subsidiaries or the counterparty depending on the net fair value position of the derivatives held with that counterparty. These collateral receivable or payable amounts are generally not offset against the fair value of these derivatives but are recorded separately in other assets or deposits. Most of the Company’s cash collateral amounts relate to positions cleared through an exchange and are reflected as offsets to the associated derivatives balances recorded in other assets and accrued expenses and other liabilities. The Company also has agreements with certain of its derivative counterparties that contain a provision under which the Company could be declared in default on any of its derivative obligations if the Company defaults on any of its indebtedness, including default where the lender has not accelerated repayment of the indebtedness.

Segment Disclosures

Segment Disclosures	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Disclosures	Segment Disclosures The Company manages its business activities in two segments: Digital Banking and Payment Services. • Digital Banking: The Digital Banking segment includes Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans (prior to the sale of that portfolio), personal loans, home loans and deposit products. The majority of Digital Banking revenues relate to interest income earned on the segment’s loan products. Additionally, the Company’s credit card products generate substantially all revenues related to discount and interchange, protection products and loan fee income. • Payment Services: The Payment Services segment includes PULSE, an ATM, debit and electronic funds transfer network; Diners Club, a global payments network; and the Company’s Network Partners business, which provides payment transaction processing and settlement services on the Discover Network. The majority of Payment Services revenues relate to transaction processing revenue from PULSE and royalty and licensee revenue from Diners Club. The Company’s CODM is the Chief Executive Officer. The CODM reviews financial results on a regular basis to assess total company and line of business performance. The information reviewed, including plan-to-actual comparisons, ratio analysis and other relevant metrics is then used to inform decisions impacting the Company’s reportable segments, including evaluating expense budgets for lines of business which comprise those reportable segments. The business segment reporting provided to and used by the Company’s CODM is prepared using the following principles and allocation conventions: • The Company aggregates operating segments when determining reportable segments. • Corporate overhead is not allocated between segments; all corporate overhead is included in the Digital Banking segment. • Through its operation of the Discover Network, the Digital Banking segment incurs fixed marketing, servicing and infrastructure costs that are not specifically allocated among the segments, except for an allocation of direct and incremental costs driven by the Company’s Payment Services segment. • The Company’s assets are not allocated among the operating segments in the information reviewed by the CODM. • The revenues of each segment are derived from external sources. The segments do not earn revenue from intercompany sources. • Income taxes are not specifically allocated between the operating segments in the information reviewed by the CODM. The following table presents segment data (dollars in millions): Digital Banking Payment Services Total For the Year Ended December 31, 2024 Interest income Credit card loans $ 16,109 $ — $ 16,109 Private student loans 800 — 800 Personal loans 1,402 — 1,402 Home loans 525 — 525 Other loans 2 — 2 Other interest income 1,182 — 1,182 Total interest income 20,020 — 20,020 Interest expense 5,724 — 5,724 Net interest income 14,296 — 14,296 Provision for credit losses 4,911 — 4,911 Other income 2,902 712 3,614 Other expense Employee compensation and benefits 2,739 85 2,824 Marketing and business development 1,055 15 1,070 Information processing and communications 704 31 735 Professional fees 1,231 43 1,274 Premises and equipment 90 3 93 Other expense 911 18 929 Total other expense (1) 6,730 195 6,925 Income before income taxes $ 5,557 $ 517 $ 6,074 For the Year Ended December 31, 2023 Interest income Credit card loans $ 14,438 $ — $ 14,438 Private student loans 1,033 — 1,033 Personal loans 1,156 — 1,156 Home loans 324 — 324 Other loans 2 — 2 Other interest income 892 — 892 Total interest income 17,845 — 17,845 Interest expense 4,746 — 4,746 Net interest income 13,099 — 13,099 Provision for credit losses 6,018 — 6,018 Other income 2,245 450 2,695 Other expense Employee compensation and benefits 2,356 78 2,434 Marketing and business development 1,147 17 1,164 Information processing and communications 582 26 608 Professional fees 991 50 1,041 Premises and equipment 86 3 89 Other expense 783 20 803 Total other expense (1) 5,945 194 6,139 Income before income taxes $ 3,381 $ 256 $ 3,637 Digital Banking Payment Services Total For the Year Ended December 31, 2022 Interest income Credit card loans $ 10,632 $ — $ 10,632 Private student loans 831 — 831 Personal loans 872 — 872 Home loans 165 — 165 Other loans 2 — 2 Other interest income 362 — 362 Total interest income 12,864 — 12,864 Interest expense 1,865 — 1,865 Net interest income 10,999 — 10,999 Provision for credit losses 2,359 — 2,359 Other income 2,041 176 2,217 Other expense Employee compensation and benefits 2,068 71 2,139 Marketing and business development 1,020 15 1,035 Information processing and communications 485 28 513 Professional fees 838 33 871 Premises and equipment 115 3 118 Other expense 523 17 540 Total other expense (1) 5,049 167 5,216 Income before income taxes $ 5,632 $ 9 $ 5,641

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), generally applies to the sales of any good or service for which no other specific accounting guidance is provided. ASC 606 defines a principles-based model under which revenue from a contract is allocated to the distinct performance obligations within the contract and recognized in income as each performance obligation is satisfied. The Company’s revenue that is subject to this model includes discount and interchange, protection products fees, transaction processing revenue and certain amounts classified as other income. The following table presents revenue from contracts with customers disaggregated by business segment and reconciles revenue from contracts with customers to total other income (dollars in millions): Digital Banking Payment Services Total For the Year Ended December 31, 2024 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,417 $ 103 $ 1,520 Protection products revenue 169 — 169 Transaction processing revenue — 345 345 Other income 498 265 763 Total other income subject to ASC 606 (2) 2,084 713 2,797 Other income not subject to ASC 606 Loan fee income 819 — 819 Losses on equity investments (1) (1) (2) Total other income (loss) not subject to ASC 606 818 (1) 817 Total other income by operating segment $ 2,902 $ 712 $ 3,614 For the Year Ended December 31, 2023 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,294 $ 87 $ 1,381 Protection products revenue 172 — 172 Transaction processing revenue — 303 303 Other income 16 69 85 Total other income subject to ASC 606 (2) 1,482 459 1,941 Other income not subject to ASC 606 Loan fee income 763 — 763 Gains (losses) on equity investments — (9) (9) Total other income not subject to ASC 606 763 (9) 754 Total other income by operating segment $ 2,245 $ 450 $ 2,695 For the Year Ended December 31, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,224 $ 79 $ 1,303 Protection products revenue 172 — 172 Transaction processing revenue — 249 249 Other income 11 64 75 Total other income subject to ASC 606 (2) 1,407 392 1,799 Other income not subject to ASC 606 Loan fee income 632 — 632 Gains (losses) on equity investments 2 (216) (214) Total other income not subject to ASC 606 634 (216) 418 Total other income by operating segment $ 2,041 $ 176 $ 2,217 (1) Net of rewards, including Cashback Bonus rewards, of $3.0 billion, $3.1 billion and $3.0 billion for the years ended December 31, 2024, 2023 and 2022, respectively. (2) Excludes $7 million, $15 million and $10 million deposit product fees that are reported within net interest income for the years ended December 31, 2024, 2023 and 2022, respectively. For a detailed description of the Company’s significant revenue recognition accounting policies, see Note 2: Summary of Significant Accounting Policies.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In the ordinary course of business, the Company offers consumer financial products to its directors, executive officers and certain members of their families. These products are offered on substantially the same terms as those prevailing at the time for comparable transactions with unrelated parties and these receivables are included in the loan receivables in the Company’s consolidated statements of financial condition. They were not material to the Company’s financial position or results of operations.

Parent Company Condensed Financ

Parent Company Condensed Financial Information	12 Months Ended
	Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Parent Company Condensed Financial Information	Parent Company Condensed Financial Information The following Parent Company financial statements are provided in accordance with SEC rules, which require such disclosure when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets. Discover Financial Services (Parent Company Only) Condensed Statements of Financial Condition (dollars in millions) December 31, 2024 2023 Assets Cash and cash equivalents (1) $ 5,209 $ 3,509 Restricted cash 100 75 Notes receivable from subsidiaries (2) 1,745 1,650 Investment in bank subsidiary 14,022 12,340 Investments in non-bank subsidiaries 976 974 Other assets 994 871 Total assets $ 23,046 $ 19,419 Liabilities and Stockholders’ Equity Non-interest-bearing deposit accounts $ 3 $ 2 Short-term borrowings from subsidiaries 693 390 Long-term borrowings 3,971 4,469 Accrued expenses and other liabilities 453 323 Total liabilities 5,120 5,184 Stockholders’ equity 17,926 14,235 Total liabilities and stockholders’ equity $ 23,046 $ 19,419 (1) The Parent Company had $5.2 billion and $3.5 billion in a money market deposit account at Discover Bank as of December 31, 2024 and 2023, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2) The Parent Company had a balance of $1.3 billion representing advances to Discover Bank as of December 31, 2024 and 2023, which is included in notes receivable from subsidiaries. Discover Financial Services (Parent Company Only) Condensed Statements of Comprehensive Income (dollars in millions) For the Years Ended December 31, 2024 2023 2022 Interest income $ 293 $ 240 $ 98 Interest expense 280 189 189 Net interest income (expense) 13 51 (91) Dividends from bank subsidiary 2,600 1,700 4,000 Dividends from non-bank subsidiaries 260 11 688 Other income — 4 — Total income 2,873 1,766 4,597 Other expense (income) 179 (2) 6 Income before income tax benefit and equity in undistributed net income of subsidiaries 2,694 1,768 4,591 Income tax benefit (expense) 19 (7) 25 Equity in undistributed net income of subsidiaries 1,822 1,035 (300) Net income 4,535 2,796 4,316 Other comprehensive (loss) income, net (71) 114 (245) Comprehensive income $ 4,464 $ 2,910 $ 4,071 Discover Financial Services (Parent Company Only) Condensed Statements of Cash Flows (dollars in millions) For the Years Ended December 31, 2024 2023 2022 Cash flows provided by operating activities Net income $ 4,535 $ 2,796 $ 4,316 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,822) (1,035) 300 Non-cash transfer to (from) subsidiary 40 (11) (188) Stock-based compensation expense 85 74 89 Deferred income taxes (12) 2 (8) Depreciation and amortization 5 4 32 Net gains on investments and other assets — (4) — Changes in assets and liabilities: Increase in other assets (107) (65) (143) Increase (decrease) in accrued expenses and other liabilities 136 (41) 27 Net cash provided by operating activities 2,860 1,720 4,425 Cash flows (used for) provided by investing activities Return of capital from sale of subsidiary — 2 — (Increase) decrease in loans to subsidiaries (95) 109 (982) Proceeds from sale of subsidiary — 3 — Purchases of premises and equipment (1) — — Net cash (used for) provided by investing activities (96) 114 (982) Cash flows used for financing activities Net increase (decrease) in short-term borrowings from subsidiaries 303 275 (324) Proceeds from issuance of common stock 13 12 10 Proceeds from issuance of long-term borrowings — 993 740 Maturities and repayment of long-term borrowings (502) (15) (834) Purchases of treasury stock (83) (1,938) (2,359) Net increase in deposits 1 — — Dividends paid on common and preferred stock (771) (752) (703) Net cash used for financing activities (1,039) (1,425) (3,470) Increase (decrease) in cash, cash equivalents and restricted cash 1,725 409 (27) Cash, cash equivalents and restricted cash, at beginning of period 3,584 3,175 3,202 Cash, cash equivalents and restricted cash, at end of period $ 5,309 $ 3,584 $ 3,175 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 5,209 $ 3,509 $ 3,155 Restricted cash 100 75 20 Cash, cash equivalents and restricted cash, at end of period $ 5,309 $ 3,584 $ 3,175 Supplemental disclosure of cash flow information Cash paid during the period for: Interest expense $ 280 $ 175 $ 159 Income taxes, net of income tax refunds $ (25) $ 22 $ (39)

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 18, 2025, approval of the Merger Agreement was obtained from the Company’s shareholders and Capital One’s shareholders. For more information, refer to the Company’s Current Report on Form 8-K filed with the SEC on February 18, 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 4,535	$ 2,796	$ 4,316

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The program is designed to safeguard the confidentiality, integrity and availability of information assets of the Company, customers and users from harm, and against unauthorized access to, or use of, computer resources that process, store or transmit these assets. This is accomplished by monitoring the cyber threat landscape, internal threats and technological changes and through the implementation of controls to mitigate risk to the organization and our customers.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	For more information about the risks posed by cybersecurity threats, see “Item 1A.
Cybersecurity Risk Board of Directors Oversight [Text Block]	Board of Directors Oversight Our Risk Oversight Committee and Audit Committee are responsible for reviewing and approving our Information Security Program, as well as reviewing the quality and effectiveness of our technology security. These committees are also responsible for reviewing the guidelines and policies for assessing and managing our exposure to risks, including cybersecurity risk, and the steps management takes to monitor and control such exposures. The Risk Oversight Committee and Audit Committee periodically meet to facilitate oversight of risk management matters, including cybersecurity risk. For example, at least five times per year, the committees receive updates from the CISO and VP-ISTR on our Information Security Program. The Board of Directors regularly devotes time during its meetings to review and discuss the most significant risks facing us over the short-, medium- and long-term, and our responses to those risks, including cybersecurity risks. Within these discussions, the Board of Directors receives updates from senior executives including the CRO and, on an annual basis, the CISO on the risks posed by cybersecurity threats and our information security program. Additionally, the CISO provides annual Information Security training to the Board of Directors. The training covers the regulatory landscape, risk management practices, cyber landscape and threats to us and the roles and responsibilities of management and board members.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Risk Oversight Committee and Audit Committee are responsible for reviewing and approving our Information Security Program, as well as reviewing the quality and effectiveness of our technology security.
Cybersecurity Risk Role of Management [Text Block]	Management Oversight Our Information Security Program is led by our CISO, who reports to our CIO, and overseen by the TIRC, which serves as a sub-committee to the Management Risk Committee. The TIRC provides oversight, leadership and direction for data risks, technology risks and information security. Our CISO leads the Information Security organization and has the overall responsibility of implementing its strategy and objectives to build a strong cyber engineering function. Reporting to the CISO is the Security Intelligence Incident Response Team, which is responsible for managing cybersecurity incidents by leading, designing and implementing threat intelligence, continuous monitoring and rapid response services. Our CISO has over 20 years of information technology experience with specialization in information security and technology risk management. Our CISO is a Certified Information Systems Auditor and Certified Data Privacy Security Engineer. He serves as a Board member at the National Cybersecurity Alliance and is a member of Finance Services Information Sharing and Analysis Center (FS-ISAC) along with multiple other customer advisory boards. He was formerly a director at a large financial services organization and been in various information security roles at a Big 4 consulting firm prior to joining Discover.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Information Security Program is led by our CISO and overseen by our TIRC and Management Risk Committee. The program is designed to safeguard the confidentiality, integrity and availability of information assets of the Company, customers and users from harm, and against unauthorized access to, or use of, computer resources that process, store or transmit these assets. This is accomplished by monitoring the cyber threat landscape, internal threats and technological changes and through the implementation of controls to mitigate risk to the organization and our customers. Our Enterprise Risk Management governance structure is based on the principle that each line of business is responsible for managing risks, including information security risk, inherent in its business. Our Operational Risk Oversight (“ORO”) department provides second line defense oversight of the Information Security Program in support of senior management and the Board of Directors’ responsibility to provide appropriate risk oversight. Owned by the VP, Information Security and Technology Risk (“VP-ISTR”) in ORO, the Information Security Policy provides a framework for the security of information assets and computer resources and is consistent with our ERM framework, which incorporates certain components that guide the Company’s approach to risk management: Governance and Oversight, Business Strategy, Risk Infrastructure and Risk Culture. The Information Security Policy is designed to comply with applicable laws and regulations, such as the GLBA and the Sarbanes-Oxley Act.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CISO has over 20 years of information technology experience with specialization in information security and technology risk management. Our CISO is a Certified Information Systems Auditor and Certified Data Privacy Security Engineer. He serves as a Board member at the National Cybersecurity Alliance and is a member of Finance Services Information Sharing and Analysis Center (FS-ISAC) along with multiple other customer advisory boards. He was formerly a director at a large financial services organization and been in various information security roles at a Big 4 consulting firm prior to joining Discover.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Information Security Program is led by our CISO and overseen by our TIRC and Management Risk Committee. The program is designed to safeguard the confidentiality, integrity and availability of information assets of the Company, customers and users from harm, and against unauthorized access to, or use of, computer resources that process, store or transmit these assets. This is accomplished by monitoring the cyber threat landscape, internal threats and technological changes and through the implementation of controls to mitigate risk to the organization and our customers. Our Enterprise Risk Management governance structure is based on the principle that each line of business is responsible for managing risks, including information security risk, inherent in its business. Our Operational Risk Oversight (“ORO”) department provides second line defense oversight of the Information Security Program in support of senior management and the Board of Directors’ responsibility to provide appropriate risk oversight. Owned by the VP, Information Security and Technology Risk (“VP-ISTR”) in ORO, the Information Security Policy provides a framework for the security of information assets and computer resources and is consistent with our ERM framework, which incorporates certain components that guide the Company’s approach to risk management: Governance and Oversight, Business Strategy, Risk Infrastructure and Risk Culture. The Information Security Policy is designed to comply with applicable laws and regulations, such as the GLBA and the Sarbanes-Oxley Act. Our enterprise-wide incident management framework addresses risk mitigation activities that stem from incidents including governance structure and organization; risk, incident management and escalation principles; requirements for testing and assessing our processes; and external reporting guidance. We conduct internal assessments and engage external assessors, consultants and auditors to help provide assurance and validation of our security controls, as well as alignment to industry norms. We are also committed to strong third party risk management. Our Third Party Program provides guidance for managing third party risk and is designed to assist us with the identification, measurement, management, monitoring and reporting of third party risk. Our Information Security Program requires that employees adhere to our Third Party Information Security Policy, as well as the Third Party Risk Management Policy, which requires review of third-party controls to determine whether such controls meet the objectives of our Third Party Information Security Policy. The ORO team is responsible for overseeing that appropriate information security risks are identified and monitored. We rely on many third-party service providers and network participants, including merchants, and, as such, a security breach or cyber attack affecting one of these third parties could impact us.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Background and Basis of Prese_2

Background and Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”).
Use of Estimates	The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. The Company believes that the estimates used in the preparation of the consolidated financial statements are reasonable. Actual results could differ from these estimates. Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on the Company’s consolidated financial condition, results of operations or changes in stockholders’ equity.
Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company’s policy is to consolidate all entities in which it owns more than 50% of the outstanding voting stock unless it does not control the entity. However, the Company did not have a controlling voting interest in any entity other than its wholly-owned subsidiaries in the periods presented in the accompanying consolidated financial statements. It is also the Company’s policy to consolidate any VIEs for which the Company is the primary beneficiary, as defined by GAAP. On this basis, the Company consolidates the Discover Card Master Trust I (“DCMT”) and the Discover Card Execution Note Trust (“DCENT”) and consolidated the student loan securitization trust prior to the sale of the private student loan portfolio, which was completed during the fourth quarter of 2024. The Company is deemed to be the primary beneficiary of each of these trusts since it is, for each, the trust Servicer and the holder of both the residual interest and the majority of the most subordinated interests. Because of those involvements, the Company has, for each trust, (i) the power to direct the activities that most significantly impact the economic performance of the trust and (ii) the obligation (or right) to absorb losses (or receive benefits) of the trust that could potentially be significant. The Company has determined that it was not the primary beneficiary of any other VIE during the years ended December 31, 2024, 2023 and 2022. For investments in any entities in which the Company owns 50% or less of the outstanding voting stock but in which the Company has significant influence over operating and financial decisions, the Company applies the equity method of accounting. In cases where the Company’s equity investment is less than 20% and significant influence does not exist, such investments are carried at cost as they typically do not have readily determinable fair values, and are adjusted for any impairment in value. Investments in actively traded stock are carried at fair value with changes in fair value recorded as an adjustment to earnings.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents is defined by the Company as cash on deposit with banks, including time deposits and other highly liquid investments with maturities of 90 days or less when purchased, excluding amounts restricted by certain contractual or other obligations. Cash and cash equivalents included $919 million and $2.0 billion of cash and due from banks and $7.6 billion and $9.7 billion of interest-earning deposits at other banks at December 31, 2024 and 2023, respectively.
Restricted Cash	Restricted Cash
Investment Securities	Investments Other Short-Term Investments At December 31, 2024, other short-term investments primarily consisted of U.S. Treasury bills with contractual maturities greater than 90 days but less than one year at the time of acquisition. These investments are reported at fair value with unrealized gains and losses, net of tax, reported as a component of accumulated other comprehensive income (“AOCI”) included in stockholders’ equity. Investments Securities At December 31, 2024, investment securities consisted of debt obligations of the U.S. Treasury, mortgage-backed securities issued by government agencies, and municipal bonds issued by state agencies. Investment securities that the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity (“HTM”) and are reported at amortized cost. All other investment securities are classified as available-for-sale (“AFS”), as the Company does not hold investment securities for trading purposes. AFS investment securities are reported at fair value with unrealized gains and losses, net of tax, reported as a component of AOCI included in stockholders’ equity. The Company estimates the fair value of AFS investment securities as more fully discussed in Note 20: Fair Value Measurements. The amortized cost for each HTM and AFS investment security is adjusted for amortization of premiums or accretion of discounts, as appropriate. Such amortization or accretion is included in interest income. Interest on investment securities is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The obligations of the U.S. Treasury and government-sponsored enterprises of the U.S. (“U.S. GSEs”) and mortgage-backed securities issued by government agencies or U.S. GSEs in which the Company invests have long histories with no credit losses and are explicitly or implicitly guaranteed by the U.S. government. Therefore, management has concluded that there is no expectation of non-payment on its investment securities and does not record an allowance for credit losses on these investments. HTM investments in debt securities occur only with respect to Discover Bank’s activities pursuant to the Community Reinvestment Act. Tax Credit Investments At December 31, 2024, tax credit investments consisted of membership interests in limited liability companies invested in affordable housing projects and community revitalization projects. The Company earns a return from these investments primarily through tax credits allocated to the underlying projects. The Company does not consolidate these investments as the Company does not have a controlling financial interest in the investee entities. The related commitments for future investments are recorded in accrued expenses and other liabilities within the consolidated statements of financial condition for delayed equity contributions that are unconditional and legally binding. Equity contributions that are contingent upon a future event are recognized when that contingent event becomes probable. The Company has elected to account for its qualifying investments which generate affordable housing tax credits and new markets tax credits under the proportional amortization method beginning January 1, 2024, on a modified retrospective basis. As of December 31, 2024, all of the Company's tax credit investments qualified for this election. Prior to 2024, these investments were accounted for using the equity method. Under the proportional amortization method, the cost of the investment is amortized in proportion to the income tax credits and other income tax benefits received, the net effect of which is recognized as a component of income tax expense on the condensed consolidated statements of income and within cash flows provided by operating activities on the condensed consolidated statements of cash flows.
Loan Receivables	Loan Receivables Loan receivables consist of credit card receivables and other loan receivables. The carrying values of all classes of loan receivables include unamortized net deferred loan origination fees and costs (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). The credit card loan receivables carrying amount includes the principal amounts outstanding and uncollected billed interest and fees and is reduced for unearned revenue related to balance transfer fees (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). Other loans consist of private student loans (prior to its sale), personal loans, home loans and other loans and the carrying amount of those loans includes principal amounts outstanding. The Company’s loan receivables are deemed to be held-for-investment at origination or acquisition because management has the intent and ability to hold them for the foreseeable future. Cash flows associated with loans originated or acquired for investment are classified as cash flows from investing activities, regardless of a subsequent change in intent.
Delinquent Loans and Charge-Offs	Delinquent Loans and Net Charge-Offs The entire balance of an account is contractually past due if the minimum payment is not received by the specified date on the customer’s billing statement. Delinquency is reported on loans that are 30 days or more past due. Credit card loans are charged off at the end of the month during which an account becomes 180 days past due. Closed-end unsecured consumer loan receivables are charged off at the end of the month during which an account becomes 120 days contractually past due. Home loans are written down to fair value, less cost to sell, once the loan becomes 180 days past due. Customer bankruptcies and probate accounts are charged off by the end of the month 60 days following the receipt of notification of the bankruptcy or death, but not later than the 180-day or 120-day time frame described above. Receivables associated with alleged or potential fraudulent transactions are reserved for at their net realizable value upon receipt of notification of such fraud through a charge to other expense and are subsequently written off at the end of the month 90 days following notification, but not later than the contractual 180-day or 120-day time frame described above. The Company’s charge-off policies are designed to comply with guidelines established by the Federal Financial Institutions Examination Council (“FFIEC”). The Company’s net charge-offs include the principal amount of loans charged off less principal recoveries and exclude charged-off interest and fees, recoveries of interest and fees and fraud losses. The practice of re-aging an account also may affect loan delinquencies and charge-offs. A re-age is intended to assist delinquent customers who have experienced financial difficulties but who demonstrate both an ability and willingness to repay. Accounts meeting specific criteria are re-aged when the Company and the customer agree on a temporary repayment schedule that may include concessionary terms. With re-aging, the outstanding balance of a delinquent account is returned to a current status. Customers may also qualify for a workout re-age when either a longer term or permanent hardship exists. The Company’s re-age practices are designed to comply with FFIEC guidelines.
Allowance for Credit Losses	Allowance for Credit Losses The Company maintains an allowance for credit losses at a level that is appropriate to absorb net credit losses anticipated over the remaining expected life of loan receivables as of the balance sheet date. The estimate of expected credit losses considers uncollectible principal, interest and fees associated with the Company's loan receivables existing as of the balance sheet date. Additionally, the estimate includes expected recoveries of amounts that were either previously charged off or are expected to be charged off. The allowance is evaluated quarterly for appropriateness and is maintained through an adjustment to the provision for credit losses. Charge-offs of principal amounts of loans outstanding are deducted from the allowance and subsequent recoveries of such amounts increase the allowance. Charge-offs of loan balances representing unpaid interest and fees result in a reversal of interest and fee income, respectively, which is effectively a reclassification of the provision for credit losses. The Company calculates its allowance for credit losses by estimating expected credit losses separately for classes of receivables with similar risk characteristics. This results in segmenting the portfolio by loan product type, which is the level that the Company develops and documents its methodology for determining the allowance for credit losses. The estimate of expected credit losses for each loan product type is based on: (i) a reasonable and supportable forecast period; (ii) a reversion period; and (iii) a post-reversion period based on historical information covering the remaining life of the loan, all of which is netted with expected recoveries. The lengths of the reasonable and supportable forecast and reversion periods can vary and are subject to a quarterly assessment that considers the economic outlook and level of variability among macroeconomic forecasts. The Company applies a weighted approach in reverting from the reasonable and supportable forecast period to the post-reversion period. Several analyses are used to help estimate credit losses anticipated over the remaining expected life of loan receivables as of the balance sheet date. The Company's estimation process includes models that predict customer losses based on risk characteristics and portfolio attributes, macroeconomic variables and historical data and analysis. There is a significant amount of judgment applied in selecting inputs and analyzing the results produced by the models to determine the allowance. For credit card loans, the Company uses a modeling framework that includes the following components for estimating expected credit losses: • Probability of default: this component estimates the probability of charge-off at different points in time over the life of each loan. • Exposure at default: this component estimates the balance on the loan at the time of default. Given that there is no stated life of a receivable balance on a revolving credit card account, the Company applies a percentage of expected payments to estimate the balance that would remain at the time of charge-off. • Recoveries from charged-off accounts are estimated separately and are netted as part of the aggregation of all of the components of the card loss modeling framework. • The output of the above three components is adjusted to remove post measurement date activity. For personal loans, the Company follows the same probability of default, exposure at default and recoveries framework as credit card loans. Personal loans have a stated life, therefore exposure at default is directly measurable with no adjustment needed. For home loans, the Company uses vintage-based models that estimate expected credit losses over the life of the loan, net of recovery estimates, impacted mainly by time elapsed since origination, credit quality of origination vintages and macroeconomic forecasts. The components described above for credit card, personal and home loans are developed utilizing historical data and applicable macroeconomic variable inputs based on statistical analysis and customer behavioral relationships with credit performance. Expected recoveries from loans charged off as of the balance sheet date are modeled separately and included in the allowance estimate. The Company leverages these models and recent macroeconomic forecasts for the portion of the estimate associated with the reasonable and supportable forecast period. To estimate expected credit losses for the remainder of the life of the credit card and personal loans, the Company reverts to historical experience of credit card and personal loans with characteristics similar to those as of the balance sheet date and observed over various phases of a credit cycle. To estimate expected credit losses for the remainder of the life of home loans, the Company generally reverts to use of industry and internal loan performance data over an appropriate historical period. The considerations in these models include past and current loan performance, loan growth and seasoning, risk management practices, account collection strategies, economic conditions, bankruptcy filings, policy changes and forecasting uncertainties. Consideration of past and current loan performance includes the post-modification performance of loans to borrowers experiencing financial difficulty. For the credit card and personal loan portfolios, the Company estimates its credit losses on a loan-level basis, which includes loans that are delinquent and/or no longer accruing interest and/or loans that have been restructured. For home loans, the Company estimates its credit losses on a pooled basis. For all loan types, recoveries are estimated at a pooled level based on estimates of future cash flows derived using historical experience. Accrued interest receivable on credit card loans is included in the estimate of expected credit losses once billed to the customer (i.e., once the interest becomes part of the loan balance). An allowance for credit losses is not recorded for unbilled credit card interest or accrued interest receivable on other loan classes as the impact to the allowance for credit losses is not material. No liability for expected credit losses is required for unused lines of credit on the Company’s credit card loans because they are unconditionally cancellable. As of December 31, 2024, none of the Company's other lending products feature unfunded commitments. As part of certain collection strategies, the Company may modify the terms of loans to customers experiencing financial hardship. Modifications on credit card, personal and home loans are generally subject to disclosure as loan modifications to borrowers experiencing financial difficulty. Loan receivables that have been modified are subject to the same requirements for the accrual of expected credit loss over their expected remaining lives as described above for unmodified loans. The effects of all loan modifications, whether or not they are subject to disclosure as loan modifications to borrowers experiencing financial difficulty, are reflected in the allowance for credit losses.
Premises and Equipment, net	Premises and Equipment, net Premises and equipment, net, are stated at cost less provisions for impairment and accumulated depreciation and amortization. Accumulated depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. The Company periodically reviews the estimated useful lives and may adjust them as necessary. Buildings are depreciated over a period of thirty-nine years. The costs of improvements are capitalized and depreciated either over the asset’s estimated useful life, typically ten years to fifteen years, or over the remaining term of the lease, when applicable. Furniture and fixtures are depreciated over a period of five years to ten years. Equipment is depreciated over three years to ten years. Maintenance and repairs are immediately expensed when incurred, while the costs of significant improvements are capitalized. Purchased software and capitalized costs related to internally developed software are amortized over their useful lives of three years to ten years. Costs incurred during the application development stage related to internally developed software are capitalized. Costs are expensed as incurred during the preliminary project stage and post implementation stage. Once the capitalization criteria as defined in GAAP have been met, external direct costs incurred for materials and services used in developing or obtaining internal-use computer software and payroll and payroll-related costs for employees who are directly associated with the internal-use computer software project (to the extent those employees devoted time directly to the project) are capitalized. Amortization of capitalized costs begins when the software is ready for its intended use. Capitalized software is included in premises and equipment, net in the Company’s consolidated statements of financial condition. See Note 6: Premises and Equipment for further information about the Company’s premises and equipment. Cloud computing arrangements involving the licensing of software that meet certain criteria are recognized as the acquisition of software. Such assets are measured at the present value of the license obligation, if the license is to be paid over time, in addition to any capitalized upfront costs and amortized over the life of the arrangement. Cloud computing arrangements that do not meet the criteria to be recognized as acquired software are accounted for as service contracts. To date, none of the Company’s cloud computing arrangements have met the criteria to be recognized as acquired software. Premises and equipment are subject to impairment testing when events or conditions indicate that the carrying value of the asset may not be fully recoverable from future cash flows. A test for recoverability is done by comparing the asset’s carrying value to the sum of the undiscounted future net cash inflows expected to be generated from the use of the asset over its remaining useful life. Impairment exists if the sum of the undiscounted expected future net cash inflows is less than the carrying amount of the asset. Impairment would result in a write-down of the asset to its estimated fair value. The estimated fair values of these assets are based on the discounted present value of the stream of future net cash inflows expected to be derived over the remaining useful lives of the assets. If an impairment write-down is recorded, the remaining useful life of the asset will be evaluated to determine whether revision of the remaining amortization or depreciation period is appropriate.
Goodwill	Goodwill Goodwill is recorded as part of the Company’s acquisitions of businesses when the purchase price exceeds the fair value of the net tangible and separately identifiable intangible assets acquired. The Company’s goodwill is not amortized, but rather is subject to an impairment test at the reporting unit level annually as of October 1, or between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company’s reported goodwill relates to PULSE, which it acquired in 2005. The Company’s goodwill is tested for impairment by comparing the fair value of the reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired. If the carrying value exceeds its fair value, an impairment loss must be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment was identified during the impairment test conducted as of October 1, 2024.
Other Real Estate Owned	Other Real Estate Owned Other real estate owned represents real estate received in full or partial satisfaction of a loan. Amounts are recorded at fair value, less costs to sell, generally based on property appraisals and classified in other assets on the consolidated statements of financial condition.
Stock-based Compensation	Stock-based Compensation The Company measures the cost of services received from employees and non-employee directors in exchange for an award of stock-based compensation based on the grant-date fair value of the award. The cost, net of estimated forfeitures, is recognized over the requisite service period. Awards to employees who are retirement-eligible at any point during the year are amortized over 12 months in accordance with the vesting terms that apply under those circumstances. No compensation cost is recognized for awards that are subsequently forfeited.
Advertising Costs	Advertising Costs The Company expenses television and radio advertising costs in the period in which the advertising is first aired and all other advertising costs as incurred. Advertising costs are recorded in marketing and business development and were $329 million, $359 million and $307 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Income Taxes	Income Taxes Income tax expense is provided for using the asset and liability method, under which deferred tax assets and liabilities are determined based on the temporary differences between the financial reporting and income tax bases of assets and liabilities using currently enacted tax rates. Deferred tax assets are recognized when their realization is determined to be more likely than not. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. An increase or decrease in the valuation allowance that results from a change in circumstances and which causes a change in management’s judgment about the realizability of the related deferred tax asset is included in the current tax provision. Uncertain tax positions are measured at the highest amount of tax benefit for which realization is judged to be more likely than not. Tax benefits that do not meet these criteria are unrecognized tax benefits. The Company recognizes and reports interest and penalties, if necessary, related to uncertain tax positions within its provision for income tax expense. See Note 15: Income Taxes for more information about the Company’s income taxes.
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The Company records unrealized gains and losses on available-for-sale securities, changes in the fair value of cash flow hedges and certain pension and foreign currency translation adjustments in other comprehensive income (“OCI”) on an after-tax basis where applicable. The Company’s policy is to adjust the tax effects of a component of AOCI in the same period in which the item is sold or otherwise derecognized, or when the carrying value of the item is remeasured. Details of OCI, net of tax, are presented in the statement of comprehensive income and a roll forward of AOCI is presented in the consolidated statements of changes in stockholders’ equity and Note 13: Accumulated Other Comprehensive Income.
Significant Revenue Recognition Accounting Policies, Loan Interest and Fee Income	Significant Revenue Recognition Accounting Policies Loan Interest and Fee Income Interest on loans is composed largely of interest on credit card loans and is recognized based on the amount of loans outstanding and their contractual interest rate. Interest on credit card loans is included in loan receivables when billed to the customer. The Company accrues unbilled interest revenue each month from a customer’s billing cycle date to the end of the month. The Company applies an estimate of the percentage of loans that will revolve in the next cycle in the estimation of the accrued unbilled portion of interest revenue that is included in other assets on the consolidated statements of financial condition. Interest on other loan receivables is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The Company recognizes fees (except balance transfer fees and certain product fees) on loan receivables in interest income or loan fee income as the fees are assessed. Balance transfer fees and certain product fees are recognized in interest income or loan fee income ratably over the periods to which they relate. Balance transfer fees are accreted to interest income over the estimated life of the related balance. As of December 31, 2024 and 2023, deferred revenues related to balance transfer fees, recorded as a reduction of loan receivables, were $83 million and $107 million, respectively. Loan fee income primarily consists of fees on credit card loans and includes late, cash advance, returned check and other miscellaneous fees and is reflected net of waivers and charge-offs. Direct loan origination costs on credit card loans are deferred and amortized on a straight-line basis over a one year period and recorded in interest income from credit card loans. Direct loan origination costs on other loan receivables are deferred and amortized over the life of the loan using the interest method and are recorded in interest income from other loans. As of December 31, 2024 and 2023, the remaining unamortized deferred costs related to loan origination were $242 million and $306 million, respectively, and were recorded in loan receivables. The Company accrues interest and fees on credit card and closed-end loan receivables until the loans are paid or charged off, except in instances of customer bankruptcy, death or suspected fraud, where no further interest and fee accruals occur following notification. Upon completion of the fraud investigation, non-fraudulent credit card and closed-end consumer loan receivables may resume accruing interest. Payments received on non-accrual loans are allocated according to the same payment hierarchy applied to loans that are accruing interest. When loan receivables are charged off, unpaid accrued interest and fees are reversed against the income line items in which they were originally recorded in the consolidated statements of income. Charge-offs and recoveries of amounts that relate to capitalized interest on private student loans are treated as principal charge-offs and recoveries, affecting the provision for credit losses rather than interest income. The Company considers uncollectible interest and fee revenues in assessing the adequacy of the allowance for credit losses. Interest income from loans disclosed as modifications to borrowers experiencing financial difficulty is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy applied to loans that have not been modified.
Significant Revenue Recognition Accounting Policies, Other	Discount and Interchange Revenue The Company earns discount revenue from fees charged to merchants with whom it has entered into card acceptance agreements for processing credit card purchase transactions. The Company earns acquirer interchange revenue primarily from merchant acquirers on Discover Network, Diners Club and PULSE transactions made by credit and debit card customers at merchants with whom merchant acquirers have entered into card acceptance agreements for processing payment card transactions. These card acceptance arrangements generally renew automatically and do not have fixed durations. Under these agreements, the Company stands ready to process payment transactions as and when each is presented. The Company earns discount, interchange and similar fees only when transactions are processed. Contractually defined per-transaction fee amounts typically apply to each type of transaction processed and are recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions daily with merchants and acquirers and are fully earned at the time settlement is made. The Company pays issuer interchange to card-issuing entities that have entered into contractual arrangements to issue cards on the Discover Network and on certain transactions on the Diners Club and PULSE networks. This cost is contractually established and is based on the card-issuing organization’s transaction volume. The Company classifies this cost as a reduction of discount and interchange revenue. Costs of cardholder reward arrangements, including the Cashback Bonus reward program, are classified as reductions of discount and interchange revenue pursuant to guidance under Accounting Standards Codification (“ASC”) Topic 606 governing consideration payable to a customer. For both issuer interchange and transaction-based cardholder rewards, the Company accrues the cost at the time each underlying card transaction is captured for settlement. Customer Rewards The Company offers its customers various reward programs, including the Cashback Bonus reward program, pursuant to which the Company pays certain customers a reward equal to a percentage of their credit card purchase amounts based on the type and volume of the customer’s purchases. The liability for customer rewards is recorded on an individual customer basis and is accumulated as qualified customers earn rewards through their ongoing credit card purchase activity or other defined actions. The Company recognizes customer rewards costs as a reduction of the related revenue, if any. In instances where a reward is not associated with a revenue-generating transaction, such as when a reward is given for opening an account, the reward cost is recorded as an operating expense. For the years ended December 31, 2024, 2023 and 2022, rewards costs amounted to $3.0 billion, $3.1 billion and $3.0 billion, respectively. The liability for customer rewards was $2.1 billion and $2.2 billion at December 31, 2024 and 2023, respectively, and is included in accrued expenses and other liabilities on the consolidated statements of financial condition. Protection Products Revenue The Company earns revenue related to fees received for providing ancillary products and services, including payment protection and identity theft protection services, to its credit card customers. A portion of this revenue comprises amounts earned for arranging for the delivery of products offered by third-party service providers. The amount of revenue recorded is generally based on either a percentage of a customer’s outstanding balance or a flat fee, in either case assessed monthly and recognized as earned. These contracts are month-to-month arrangements that are cancellable at any time. The Company recognizes each monthly fee in the period to which the service or coverage relates. Transaction Processing Revenue Transaction processing revenue represents switch fees charged to financial institutions and merchants under network participation agreements for processing ATM and debit transactions over the PULSE network, as well as various participation and membership fees. Network participation agreements generally renew automatically and do not have fixed durations, although the Company does enter into fixed-term pricing or incentive arrangements with certain network participants. Similar to discount and interchange fees, switch fees are contractually defined per-transaction fee amounts and are assessed and recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions with network participants. Membership and other participation fees are recognized over the periods to which each fee relates. Other Income Other income includes gains and losses on equity investments, sales-based royalty revenues earned by Diners Club, merchant fees, revenues from network partners and other miscellaneous revenue items. Unrealized gains and losses on equity investments carried at fair value are recognized quarterly based on changes in their respective fair values. Sales-based royalty revenues are recognized as the related sales are reported by Diners franchisees. All remaining items of other income are recognized as the related performance obligations are satisfied. Future Revenue Associated with Customer Contracts For contracts under which the Company processes payment card transactions, the Company has the right to assess fees for services performed and to collect those fees through the settlement process. The Company generates essentially all of its discount and interchange revenue and transaction processing revenue, as well as some revenue reported as other income, through such contracts. There is no specified quantity of service promised in these contracts as the number of payment transactions is dependent upon cardholder behavior, which is outside the control of the Company and its network customers (i.e., merchants, acquirers, issuers and other network participants). As noted above, these contracts are typically without fixed durations and renew automatically. For these reasons, the Company does not make or disclose an estimate of revenue associated with performance obligations attributable to the remaining terms of these contracts. Future revenue associated with the Company’s sales-based royalty revenues earned from Diners Club licensees is similarly variable and open-ended and therefore the Company does not make or disclose an estimate of royalties associated with performance obligations attributable to the remaining terms of the licensing and royalty arrangements. Because of the nature of the services and the manner of collection associated with the majority of the Company’s revenue from contracts with customers, material receivables or deferred revenues are not generated. Incentive Payments The Company makes certain incentive payments under contractual arrangements with financial institutions, Diners Club licensees, merchants, acquirers and certain other customers. These payments are generally classified as contra-revenue unless a distinct good or service is received by the Company in exchange for the payment and the fair value of the good or service can be reasonably estimated. If no such good or service is identified, then the entire payment is classified as contra-revenue and included in the consolidated statements of income in the line item where the related revenues are recorded. If the payment gives rise to an asset because it is expected to directly or indirectly contribute to future net cash inflows, it is deferred and recognized over the expected benefit period. The unamortized portion of the deferred incentive payments included in other assets on the consolidated statements of financial condition was $28 million and $27 million at December 31, 2024 and 2023, respectively.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The Company’s other short-term investments and investment securities consist of the following (dollars in millions): December 31, 2024 2023 U.S. Treasury bills (1) $ 5,423 $ — Total other short-term investments $ 5,423 $ — U.S. Treasury (2) and U.S. GSE (3) securities $ 13,988 $ 12,937 Residential mortgage-backed securities - Agency (4) 642 718 Total investment securities $ 14,630 $ 13,655 (1) Includes U.S. Treasury bills with maturity dates greater than 90 days but less than one year at the time of acquisition. (2) Includes $364 million and $320 million of U.S. Treasury securities pledged as swap collateral as of December 31, 2024 and 2023, respectively. (3) Consists of securities issued by the Federal Home Loan Bank (“FHLB”) as of December 31, 2023. (4) Primarily consists of securities issued by Fannie Mae, Freddie Mac, or Ginnie Mae.
Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value	The amortized cost, gross unrealized gains and losses and fair value of available-for-sale and held-to-maturity investment securities are as follows (dollars in millions): Amortized Gross Gross Fair Value At December 31, 2024 Available-for-Sale Investment Securities (1) U.S. Treasury securities $ 14,087 $ 9 $ (108) $ 13,988 Residential mortgage-backed securities - Agency 388 — (17) 371 Total available-for-sale investment securities $ 14,475 $ 9 $ (125) $ 14,359 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 271 $ — $ (24) $ 247 Total held-to-maturity investment securities $ 271 $ — $ (24) $ 247 At December 31, 2023 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 12,971 $ 52 $ (86) $ 12,937 Residential mortgage-backed securities - Agency 480 — (15) 465 Total available-for-sale investment securities $ 13,451 $ 52 $ (101) $ 13,402 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 253 $ — $ (19) $ 234 Total held-to-maturity investment securities $ 253 $ — $ (19) $ 234 (1) Available-for-sale investment securities are reported at fair value. (2) Held-to-maturity investment securities are reported at amortized cost. (3) Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives.
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value	The following table provides information about available-for-sale investment securities with aggregate gross unrealized losses and the length of time that individual investment securities have been in a continuous unrealized loss position (dollars in millions): Less than 12 months More than 12 months Number of Securities in a Loss Position Fair Value Unrealized Losses Fair Value Unrealized Losses At December 31, 2024 Available-for-Sale Investment Securities U.S. Treasury securities 177 $ 9,492 $ (91) $ 1,963 $ (17) Residential mortgage-backed securities - Agency 30 $ — $ — $ 371 $ (17) At December 31, 2023 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 105 $ 3,513 $ (13) $ 3,978 $ (73) Residential mortgage-backed securities - Agency 31 $ — $ — $ 465 $ (15)
Schedule of Maturities and Weighted Average Yields of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities	Maturities and weighted-average yields of available-for-sale debt securities and held-to-maturity debt securities are provided in the following table (dollars in millions): At December 31, 2024 One Year After One After Five After Ten Total Available-for-Sale Investment Securities — Amortized Cost U.S. Treasury securities $ 2,290 $ 11,797 $ — $ — $ 14,087 Residential mortgage-backed securities - Agency (1) — 44 100 244 388 Total available-for-sale investment securities $ 2,290 $ 11,841 $ 100 $ 244 $ 14,475 Held-to-Maturity Investment Securities — Amortized Cost Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 271 $ 271 Total held-to-maturity investment securities $ — $ — $ — $ 271 $ 271 Available-for-Sale Investment Securities — Fair Values U.S. Treasury securities $ 2,282 $ 11,706 $ — $ — $ 13,988 Residential mortgage-backed securities - Agency (1) — 43 96 232 371 Total available-for-sale investment securities $ 2,282 $ 11,749 $ 96 $ 232 $ 14,359 Held-to-Maturity Investment Securities — Fair Values Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 247 $ 247 Total held-to-maturity investment securities $ — $ — $ — $ 247 $ 247 Available-for-Sale Investment Securities — Weighted-Average Yields (2) U.S. Treasury securities 3.43 % 4.00 % — % — % 3.91 % Residential mortgage-backed securities - Agency (1) — % 2.11 % 3.25 % 3.63 % 3.36 % Total available-for-sale investment securities 3.43 % 3.99 % 3.25 % 3.63 % 3.89 % Held-to-Maturity Investment Securities — Weighted-Average Yields Residential mortgage-backed securities - Agency (1) — % — % — % 3.73 % 3.73 % Total held-to-maturity investment securities — % — % — % 3.73 % 3.73 % (1) Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost.

Loan Receivables (Tables)

Loan Receivables (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Loan Receivables	The Company’s classes of receivables within the two portfolio segments are depicted in the following table (dollars in millions): December 31, 2024 2023 Credit card loans (1)(2) $ 102,786 $ 102,259 Other loans (3) Private student loans (4) — 10,352 Personal loans 10,314 9,852 Home loans 7,963 5,890 Other loans 55 56 Total other loans 18,332 26,150 Total loan receivables 121,118 128,409 Allowance for credit losses (8,323) (9,283) Net loan receivables $ 112,795 $ 119,126 (1) Amounts include carrying values of $10.8 billion and $14.8 billion underlying investors’ interest in trust debt at December 31, 2024 and 2023, respectively, and $18.6 billion and $15.6 billion in seller’s interest at December 31, 2024 and 2023, respectively. See Note 5: Credit Card Loan Securitization Activities for additional information. (2) Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $785 million and $753 million at December 31, 2024 and 2023, respectively. (3) Accrued interest receivable on personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $77 million and $30 million, respectively, at December 31, 2024. Accrued interest receivable on private student, personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023. (4) At December 31, 2023, there were $6.3 billion of private student loans in repayment.
Schedule of Credit Risk Profile by FICO Score and Origination Year	The following table provides the distribution of the amortized cost basis (excluding accrued interest receivable presented in other assets) by the most recent FICO scores available for the Company's customers for credit card, personal and home loan receivables (dollars in millions): Credit Risk Profile by FICO Score December 31, 2024 2023 660 and Above Less than 660 660 and Above Less than 660 $ % $ % $ % $ % Credit card loans $ 82,422 80 % $ 20,364 20 % $ 82,238 80 % $ 20,021 20 % Personal loans by origination year 2024 $ 4,712 99 % $ 66 1 % 2023 3,042 94 % 203 6 % $ 5,149 98 % $ 100 2 % 2022 1,355 90 % 157 10 % 2,604 93 % 187 7 % 2021 478 89 % 60 11 % 1,049 92 % 91 8 % 2020 136 90 % 15 10 % 355 92 % 29 8 % Prior 74 82 % 16 18 % 247 86 % 41 14 % Total personal loans $ 9,797 95 % $ 517 5 % $ 9,404 95 % $ 448 5 % Home loans by origination year 2024 $ 2,853 100 % $ 13 — % 2023 2,293 97 % 77 3 % $ 2,614 97 % $ 86 3 % 2022 1,442 97 % 48 3 % 1,668 97 % 56 3 % 2021 653 97 % 19 3 % 765 97 % 22 3 % 2020 305 97 % 11 3 % 359 97 % 12 3 % Prior 240 96 % 9 4 % 294 95 % 14 5 % Total home loans $ 7,786 98 % $ 177 2 % $ 5,700 97 % $ 190 3 %
Schedule of Delinquent Loans by Origination Year	The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent loans in the Company’s loan portfolio is shown below for credit card, personal and home loan receivables (dollars in millions): December 31, 2024 2023 30-89 Days 90 or Total Past 30-89 Days 90 or Total Past Credit card loans $ 1,964 $ 1,980 $ 3,944 $ 2,038 $ 1,917 $ 3,955 Personal loans by origination year 2024 $ 21 $ 7 $ 28 2023 51 21 72 $ 26 $ 8 $ 34 2022 34 15 49 44 16 60 2021 11 6 17 20 8 28 2020 3 1 4 7 2 9 Prior 3 1 4 7 5 12 Total personal loans $ 123 $ 51 $ 174 $ 104 $ 39 $ 143 Home loans by origination year 2024 $ 4 $ 1 $ 5 2023 17 9 26 $ 5 $ 1 $ 6 2022 20 14 34 12 5 17 2021 9 8 17 7 5 12 2020 4 4 8 3 3 6 Prior 4 4 8 5 5 10 Total home loans $ 58 $ 40 $ 98 $ 32 $ 19 $ 51
Schedule of Changes in the Allowance for Credit Losses	The following tables provide changes in the Company’s allowance for credit losses (dollars in millions): For the Year Ended December 31, 2024 Credit Card Loans Private Student Personal Loans Home Loans Total Loans Balance at December 31, 2023 $ 7,619 $ 858 $ 722 $ 84 $ 9,283 Additions Provision for credit losses (1) 5,178 (770) 476 67 4,951 Deductions Charge-offs (6,522) (100) (484) (12) (7,118) Recoveries 1,128 12 66 1 1,207 Net charge-offs (5,394) (88) (418) (11) (5,911) Balance at December 31, 2024 $ 7,403 $ — $ 780 $ 140 $ 8,323 For the Year Ended December 31, 2023 Credit Card Loans Private Student Personal Loans Home Loans Total Loans Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 Cumulative effect of ASU No. 2022-02 adoption (2) (66) — (2) — (68) Balance at January 1, 2023 5,817 839 593 57 7,306 Additions Provision for credit losses (1) 5,476 152 363 28 6,019 Deductions Charge-offs (4,481) (155) (290) (1) (4,927) Recoveries 807 22 56 — 885 Net charge-offs (3,674) (133) (234) (1) (4,042) Balance at December 31, 2023 $ 7,619 $ 858 $ 722 $ 84 $ 9,283 For the Year Ended December 31, 2022 Credit Card Loans Private Student Personal Loans Home Loans Total Loans Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 Additions Provision for credit losses (1) 2,233 99 24 13 2,369 Deductions Charge-offs (2,417) (126) (159) — (2,702) Recoveries 794 23 68 — 885 Net charge-offs (1,623) (103) (91) — (1,817) Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 (1) Excludes a $40 million , $1 million and $10 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2024, 2023 and 2022, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company’s consolidated statements of financial condition. With the sale of the private student loan portfolio in 2024, a liability for expected credit losses on unfunded commitments is no longer recorded. (2) Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2022-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings.
Schedule of Net Charge-offs of Interest and Fee Revenues on Loan Receivables	Net charge-offs of principal are recorded against the allowance for credit losses, as shown in the preceding table. Information regarding net charge-offs of interest and fee revenues on credit card and other loans is as follows (dollars in millions): (1) For the Years Ended December 31, 2024 2023 2022 Interest and fees accrued subsequently charged off, net of recoveries (recorded as a reduction of interest income) $ 1,105 $ 681 $ 303 Fees accrued subsequently charged off, net of recoveries (recorded as a reduction to other income) $ 256 $ 192 $ 100 (1) Amounts presented in this table include charge-offs related to private student loans through June 30, 2024, the date those loans were transferred to held-for-sale classification.
Schedule of Gross Charge Offs from Loan Receivables	Gross principal charge-offs of the Company's loan portfolio are presented in the table below, on a year-to-date basis, for credit card, personal and home loan receivables (dollars in millions): For the Twelve Months Ended December 31, 2024 For the Twelve Months Ended December 31, 2023 Credit card loans $ 6,522 $ 4,481 Personal loans by origination year 2024 $ 22 2023 183 $ 19 2022 170 119 2021 69 81 2020 22 33 Prior 18 38 Total personal loans $ 484 $ 290 Home loans by origination year 2024 $ — 2023 3 $ — 2022 6 — 2021 2 1 2020 — — Prior 1 — Total home loans $ 12 $ 1
Schedule of Delinquent and Non-Accruing Loans	The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent and non-accruing loans in the Company’s loan portfolio is shown below for each class of loan receivables (dollars in millions): (1) 30-89 Days 90 or Total Past 90 or Total Non-accruing (2) December 31, 2024 Credit card loans $ 1,964 $ 1,980 $ 3,944 $ 1,940 $ 194 Other loans Personal loans 123 51 174 50 11 Home loans 58 40 98 9 94 Total other loans 181 91 272 59 105 Total loan receivables $ 2,145 $ 2,071 $ 4,216 $ 1,999 $ 299 December 31, 2023 Credit card loans $ 2,038 $ 1,917 $ 3,955 $ 1,881 $ 197 Other loans Personal loans 104 39 143 37 11 Home loans 32 19 51 3 53 Other loans 7 — 7 — — Total other loans 143 58 201 40 64 Total loan receivables $ 2,181 $ 1,975 $ 4,156 $ 1,921 $ 261 (1) The payment status of both modified and unmodified loans is included in this table. (2) The Company estimates that the gross interest income that would have been recorded under the original terms of non-accruing credit card loans was $35 million, $37 million and $23 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company does not separately track the amount of gross interest income that would have been recorded under the original terms of loans. Instead, the Company estimated this amount based on customers’ current balances and most recent interest rates .
Schedule of Loans in Modification Programs, Amortized Cost Basis	The following table provides the period-end amortized cost basis, by modification category, of loans to borrowers experiencing financial difficulty that entered a modification program during the period (dollars in millions). Some of the loans presented in the table below may no longer be enrolled in a program at period-end: For the Twelve Months Ended December 31, 2024 2023 Credit card loans (1)(2) Interest rate reduction $ 3,425 $ 2,330 Total credit card loans (3) $ 3,425 $ 2,330 % of total class of financing receivables 3.33 % 2.28 % Personal loans (1) Payment delay (4) $ 13 $ 10 Term extension (5) 41 29 Interest rate reduction and payment delay (4) 91 65 Interest rate reduction and term extension (5) 45 29 Total personal loans (3) $ 190 $ 133 % of total class of financing receivables 1.84 % 1.35 % (1) Accrued interest receivable (including unbilled accrued interest receivable for credit card loans) on modified loans to borrowers experiencing financial difficulty, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was immaterial at December 31, 2024 and 2023. (2) Accounts that entered a credit card loan modification program include $616 million and $408 million that were converted from revolving line-of-credit arrangements to term loans during the years ended December 31, 2024 and 2023. (3) For settlements, the amortized cost basis is zero at period-end and therefore there is no amount reported for principal forgiveness in the table above. See financial effects table below for principal forgiveness to borrowers experiencing financial difficulty. (4) The Company defines a payment delay as a temporary reduction in payments below the original contractually required payment amounts (e.g., interest-only payments). The Company's credit card loan modification programs do not result in an other than insignificant delay in payment. (5) The Company defines term extensions as only those modifications for which the maturity date is extended beyond the original contractual maturity date by virtue of a change in terms other than a payment delay as defined above. Modifications to credit card loans are not considered term extensions because credit card loans do not have a fixed repayment term.
Schedule of Loan Modifications Effects	The following table provides information on the financial effects of loan modifications to borrowers experiencing financial difficulty, by modification type, made during the period (dollars in millions): For the Twelve Months Ended December 31, 2024 2023 Credit card loans Weighted-average interest rate reduction 14.33 % 13.85 % Principal forgiven $ 229 $ 121 Interest and fees forgiven (1) $ 219 $ 117 Personal loans Weighted-average interest rate reduction 13.61 % 12.28 % Weighted-average term extension (in months) 48 39 Payment delay duration (in months) (2) 6 to 12 6 to 12 (1) Represents the amount of interest and fees forgiven resulting from accounts entering into a credit card loan modification program and pre-charge off settlements. Interest and fees forgiven are reversed against the respective line items in the consolidated statements of income. (2) During 2024, for personal loan payment delays, the Company limits this assistance to a life of loan maximum of 12 months.
Financing Receivable, Modified, Past Due	The following table presents the payment status and period-end amortized cost basis, by class of loan receivable, of loans that were modified on or after January 1, 2023 to borrowers experiencing financial difficulty during the 12 months preceding each of the periods presented (dollars in millions): (1) Current 30-89 Days 90 or More Days At December 31, 2024 Credit card loans $ 2,885 $ 297 $ 244 Personal loans 156 29 6 Total $ 3,041 $ 326 $ 250 At December 31, 2023 Credit card loans $ 1,882 $ 252 $ 196 Personal loans 109 20 4 Total $ 1,991 $ 272 $ 200 (1) This table includes any loan that entered a modification program during the preceding 12 months without regard to whether it remained in a modification program as of the reporting date.
Financing Receivable, Modified, Subsequent Default	The following table presents the defaulted amount and period-end amortized cost basis, by modification category, of loans that defaulted during the period and were modified on or after January 1, 2023 through the end of the reporting period to borrowers experiencing financial difficulty during the 12 months preceding default (dollars in millions): For the Twelve Months Ended December 31, 2024 For the Twelve Months Ended December 31, 2023 Defaulted Amount (1) Period-end Amortized Cost Basis Defaulted Amount (1) Period-end Amortized Cost Basis Credit card loans Interest rate reduction $ 906 $ 447 $ 383 $ 210 Total credit card loans $ 906 $ 447 $ 383 $ 210 Personal loans Payment delay $ 4 $ 2 $ 2 $ 1 Term extension 9 3 4 2 Interest rate reduction and payment delay 32 7 10 2 Interest rate reduction and term extension 21 8 7 3 Total personal loans $ 66 $ 20 $ 23 $ 8 (1) For purposes of this disclosure, a loan is considered to be defaulted when it is 60 days or more delinquent at month end and has advanced two stages of delinquency subsequent to modification. Loans that entered a modification program in any stage of delinquency but did not experience a further payment default are included in the payment status table above but are not counted as defaulted for purposes of this disclosure.
Schedule of Geographic Distribution of Loan Receivables	The Company originated credit card loans throughout the U.S. The geographic distribution of the Company’s credit card loan receivables was as follows (dollars in millions): December 31, 2024 2023 $ % $ % Texas $ 9,195 8.9 % $ 9,150 8.9 % California 9,065 8.8 9,078 8.9 Florida 7,636 7.4 7,496 7.3 New York 6,496 6.3 6,538 6.4 Illinois 5,017 4.9 5,012 4.9 Pennsylvania 4,988 4.9 4,985 4.9 Ohio 4,180 4.1 4,188 4.1 New Jersey 3,511 3.4 3,499 3.4 Georgia 3,343 3.3 3,294 3.2 Michigan 2,808 2.7 2,821 2.8 Other 46,547 45.3 46,198 45.2 Total credit card loans $ 102,786 100.0 % $ 102,259 100.0 % The Company originated personal, home and other loans throughout the U.S. The geographic distribution of personal, home and other loan receivables was as follows (dollars in millions): (1) December 31, 2024 2023 $ % $ % California $ 2,024 11.0 % $ 2,449 9.4 % Texas 1,658 9.0 1,987 7.6 Florida 1,428 7.8 1,607 6.1 New York 1,043 5.7 2,074 7.9 Illinois 771 4.2 1,405 5.4 Georgia 765 4.2 851 3.3 New Jersey 746 4.1 1,285 4.9 Pennsylvania 683 3.7 1,567 6.0 Ohio 586 3.2 975 3.7 Virginia 570 3.1 778 3.0 Other 8,058 44.0 11,172 42.7 Total other loans $ 18,332 100.0 % $ 26,150 100.0 % (1) The U.S. geographic distribution as of December 31, 2023, includes the balances of private student loans prior to their sale in 2024.

Credit Card Loan Securitizati_2

Credit Card Loan Securitization Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Variable Interest Entities Disclosure [Abstract]
Schedule of Restricted Credit Card Securitized Assets	The carrying values of these restricted assets, which are presented on the Company’s consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): December 31, 2024 2023 Restricted cash $ 25 $ 36 Investors’ interests held by third-party investors 8,500 11,725 Investors’ interests held by wholly-owned subsidiaries of Discover Bank 2,260 3,117 Seller’s interest 18,634 15,598 Loan receivables (1) 29,394 30,440 Allowance for credit losses allocated to securitized loan receivables (1) (1,294) (1,347) Net loan receivables 28,100 29,093 Other assets 1 2 Carrying value of assets of consolidated variable interest entities $ 28,126 $ 29,131 (1) The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP.

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	A summary of premises and equipment, net is as follows (dollars in millions): December 31, 2024 2023 Land $ 29 $ 37 Buildings and improvements 520 605 Furniture, fixtures and equipment 780 1,155 Software 1,217 1,305 Premises and equipment 2,546 3,102 Less: accumulated depreciation (970) (1,409) Less: accumulated amortization of software (504) (602) Premises and equipment, net $ 1,072 $ 1,091

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2024
Deposits [Abstract]
Schedule of Uninsured Certificates of Deposits	The following table summarizes certificates of deposit in uninsured accounts and accounts that are in excess of the FDIC insurance limit by time remaining until maturity (dollars in millions): At December 31, 2024 Three months or less $ 276 Over three months through six months 315 Over six months through twelve months 281 Over twelve months 260 Total $ 1,132
Time Deposit Maturities	The following table summarizes certificates of deposit maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2024 2025 $ 28,448 2026 5,515 2027 4,542 2028 2,202 2029 439 Thereafter 804 Total $ 41,950

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Borrowings and Weighted Average Interest Rates	Long-term borrowings consist of borrowings having original maturities of one year or more. The following table provides a summary of the Company’s long-term borrowings and weighted-average interest rates on outstanding balances (dollars in millions): December 31, 2024 2023 Maturity Interest Weighted-Average Interest Rate Outstanding Amount Outstanding Amount Securitized Debt Fixed-rate asset-backed securities (1) 2025-2026 1.03% - 5.03% 3.55% $ 8,475 $ 10,003 Floating-rate asset-backed securities 2024 0.00% —% — 925 Total Discover Card Master Trust I and Discover Card Execution Note Trust 8,475 10,928 Floating-rate asset-backed security (2) 2031 0.00% —% — 65 Total private student loan securitization trust — 65 Total long-term borrowings - owed to securitization investors 8,475 10,993 Discover Financial Services (Parent Company) Fixed-rate senior notes 2025-2032 3.75% - 6.70% 4.80% 2,840 3,336 Fixed-rate retail notes 2025-2031 3.25% - 4.40% 3.82% 138 140 Fixed to floating-rate senior notes (3) 2034 7.96% 7.96% 993 993 Discover Bank Fixed-rate senior bank notes (1) 2026-2030 2.70% - 4.65% 3.82% 2,792 3,571 Fixed-rate subordinated bank notes 2028 5.97% 5.97% 492 500 Fixed-rate Federal Home Loan Bank advances 2030 4.77% - 4.82% 4.82% 523 523 Floating-rate Federal Home Loan Bank advances (4) 2024 0.00% - 0.00% —% — 525 Total long-term borrowings $ 16,253 $ 20,581 (1) The Company uses interest rate swaps to hedge portions of these long-term borrowings against changes in fair value attributable to changes in the applicable benchmark interest rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 21: Derivatives and Hedging Activities. (2) As part of the sale of the private student loan portfolio, the Company sold its beneficial interest in its remaining private student loan securitization trust, which resulted in the derecognition of loan receivables held by the trust and debt issued by the trust. (3) The fixed to floating-rate senior notes include a rate reset on November 2, 2033, to a floating rate based on compounded SOFR + 3.370%. (4) The floating-rate FHLB advances include interest rate terms based on SOFR plus a spread ranging from 16 to 26 basis points as of December 31, 2023.
Schedule of Long-Term Borrowings Maturities	The following table summarizes long-term borrowings maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2024 2025 $ 6,170 2026 4,905 2027 1,002 2028 1,415 2029 7 Thereafter 2,754 Total $ 16,253

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Stock-Based Compensation Plans Compensation Cost, Net of Forfeitures	The following table details the compensation cost, net of forfeitures (dollars in millions): For the Years Ended December 31, 2024 2023 2022 RSUs $ 86 $ 69 $ 58 PSUs 9 5 31 Total stock-based compensation expense $ 95 $ 74 $ 89 Income tax benefit $ 19 $ 18 $ 16
Schedule of Restricted Stock Unit Activity	The following table sets forth the activity related to vested and unvested RSUs: Number of Units Weighted-Average Remaining Contractual Term (in years) Aggregate RSUs at December 31, 2023 1,944,117 $ 219 Granted 1,018,909 Conversions to common stock (1,365,035) Forfeited (270,974) RSUs at December 31, 2024 1,327,017 0.89 $ 230 Vested and convertible RSUs at December 31, 2024 107,283 0.00 $ 19 The following table sets forth the activity related to unvested RSUs: Number of Units Weighted-Average Grant-Date Fair Value Unvested RSUs at December 31, 2023 1) 1,157,694 $ 106.87 Granted 1,018,909 $ 111.69 Vested (733,413) $ 108.78 Forfeited (270,974) $ 109.17 Unvested RSUs at December 31, 2024 (1) 1,172,216 $ 109.33 (1) Unvested RSUs represent awards where recipients have yet to satisfy either explicit vesting terms or retirement-eligibility requirements.
Schedule of Intrinsic Value of RSUs Converted to Common Stock and Grant Date Fair Value of RSUs Vested	The following table summarizes the total intrinsic value of the RSUs converted to common stock and the total grant-date fair value of RSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2024 2023 2022 Intrinsic value of RSUs converted to common stock $ 172 $ 68 $ 59 Grant-date fair value of RSUs vested $ 80 $ 56 $ 41 Weighted-average grant-date fair value of RSUs granted $ 111.69 $ 104.20 $ 116.50
Schedule of Peformance Stock Unit Activity	The following table sets forth the activity related to vested and unvested PSUs: Number of Units Weighted-Average Grant-Date Fair Value Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value PSUs at December 31, 2023 (1) 580,677 $ 108.56 $ 65 Granted 116,539 $ — Conversions to common stock (364,211) $ 94.26 Forfeited (72,358) $ 108.72 PSUs at December 31, 2024 (1)(2)(3)(4) 260,647 $ 116.69 0.64 $ 45 (1) All PSUs outstanding at December 31, 2024 and December 31, 2023, are unvested PSUs. (2) Includes 117,374 PSUs granted in 2022 that are earned based on the Company’s cumulative earnings per share (“EPS”) as measured over the three-year performance period, which ended December 31, 2024, and are subject to the requisite service period, which ended February 1, 2025. (3) Includes 143,273 PSUs granted in 2023 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2025, and are subject to the requisite service period, which ends February 1, 2026. (4) No PSUs were granted in 2024.
Schedule of Intrinsic Value of PSUs Converted to Common Stock and Grant Date Fair Value of PSUs Vested	The following table summarizes the total intrinsic value of the PSUs converted to common stock and the total grant-date fair value of PSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2024 2023 2022 Intrinsic value of PSUs converted to common stock $ 43 $ 47 $ 29 Grant-date fair value of PSUs vested $ 34 $ 35 $ 17 Weighted-average grant-date fair value of PSUs granted (1) $ — $ 110.70 $ 124.01 (1) No PSUs were granted in 2024.

Common and Preferred Stock (Tab

Common and Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Stock by Class	The table below presents a summary of the Company's non-cumulative perpetual preferred stock that is outstanding at December 31, 2024 (dollars in millions, except per depositary share amounts): Series Description Initial Issuance Date Liquidation Preference and Redemption Price per Depositary Share (1) Per Annum Dividend Rate in effect at December 31, 2024 Total Depositary Shares Authorized, Issued and Outstanding Carrying Value December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 C (2)(3)(4) Fixed-to-Floating Rate 10/31/2017 $ 1,000 5.500 % 570,000 570,000 $ 563 $ 563 D (2)(5)(6) Fixed-Rate Reset 6/22/2020 $ 1,000 6.125 % 500,000 500,000 493 493 Total Preferred Stock 1,070,000 1,070,000 $ 1,056 $ 1,056 (1) Redeemable at the redemption price plus declared and unpaid dividends. (2) Issued as depositary shares, each representing 1/100 th interest in a share of the corresponding series of preferred stock. Each preferred share has a par value of $0.01. (3) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part on any dividend payment date on or after October 30, 2027, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series C preferred stock). (4) Any dividends declared are payable semi-annually in arrears at a rate of 5.500% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month Term SOFR plus a spread of 3.338% per annum. (5) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part during the three-month period prior to, and including, each reset date (as defined in the certificate of designations for the Series D preferred stock) or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series D Preferred Stock). (6) Any dividends declared are payable semi-annually in arrears at a rate of 6.125% per annum until September 23, 2025, after which the dividend rate will reset every 5 years to a fixed annual rate equal to the 5-year Treasury plus a spread of 5.783%.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	Changes in each component of AOCI were as follows (dollars in millions): Unrealized (Losses) Gains on Available-for-Sale Investment Securities, Net of Tax Losses on Cash Flow Hedges, Net of Tax Losses on Pension Plan, Net of Tax AOCI For the Year Ended December 31, 2024 Balance at December 31, 2023 $ (37) $ (8) $ (180) $ (225) Net change (49) (12) (10) (71) Balance at December 31, 2024 $ (86) $ (20) $ (190) $ (296) For the Year Ended December 31, 2023 Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339) Net change 99 6 9 114 Balance at December 31, 2023 $ (37) $ (8) $ (180) $ (225) For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94) Net change (250) (5) 10 (245) Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339)
Schedule of Other Comprehensive Income Before Reclassifications and Amounts Reclassified from AOCI	The following table presents each component of OCI before reclassifications and amounts reclassified from AOCI for each component of OCI before- and after-tax (dollars in millions): Before Tax Tax Benefit (Expense) Net of Tax For the Year Ended December 31, 2024 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (66) $ 17 $ (49) Net change $ (66) $ 17 $ (49) Cash Flow Hedges Net unrealized losses arising during the period $ (152) $ 37 $ (115) Amounts reclassified from AOCI 136 (33) 103 Net change $ (16) $ 4 $ (12) Pension Plan Unrealized losses arising during the period $ (13) $ 3 $ (10) Net change $ (13) $ 3 $ (10) For the Year Ended December 31, 2023 Available-for-Sale Investment Securities Net unrealized holding gains arising during the period $ 131 $ (32) $ 99 Net change $ 131 $ (32) $ 99 Cash Flow Hedges Net unrealized losses arising during the period $ (74) $ 18 $ (56) Amounts reclassified from AOCI 82 (20) 62 Net change $ 8 $ (2) $ 6 Pension Plan Unrealized gains arising during the period $ 12 $ (3) $ 9 Net change $ 12 $ (3) $ 9 For the Year Ended December 31, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (331) $ 81 $ (250) Net change $ (331) $ 81 $ (250) Cash Flow Hedges Net unrealized losses arising during the period $ (13) $ 3 $ (10) Amounts reclassified from AOCI 4 1 5 Net change $ (9) $ 4 $ (5) Pension Plan Unrealized gains arising during the period $ 13 $ (3) $ 10 Net change $ 13 $ (3) $ 10

Other Expense (Tables)

Other Expense (Tables)	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Schedule of Other Expense	Total other expense includes the following components (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Fraud losses and other charges $ 122 $ 131 $ 149 Postage 123 115 97 Credit-related inquiry fees 49 40 31 Supplies 38 38 35 Other expense 597 479 228 Total other expense $ 929 $ 803 $ 540

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense	Income tax expense consisted of the following (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Current U.S. federal $ 1,136 $ 1,254 $ 1,465 U.S. state and local 241 258 312 Total 1,377 1,512 1,777 Deferred U.S. federal 144 (595) (398) U.S. state and local 18 (76) (54) Total 162 (671) (452) Income tax expense $ 1,539 $ 841 $ 1,325
Schedule of Reconciliation the Effective Tax Rate to the U.S. Federal Statutory Income Tax Rate	The following table reconciles the Company’s effective tax rate to the U.S. federal statutory income tax rate: For the Years Ended December 31, 2024 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % U.S. state, local and other income taxes, net of U.S. federal income tax benefits 3.6 3.5 3.4 Accrual for nondeductible penalties 1.2 — — Tax credits (0.5) (2.1) (1.3) Other — 0.7 0.4 Effective income tax rate 25.3 % 23.1 % 23.5 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s net deferred income taxes, which are included in other assets in the Company’s consolidated statements of financial condition, were as follows (dollars in millions): December 31, 2024 2023 Deferred tax assets Allowance for credit losses $ 2,011 $ 2,245 Card product misclassification liability 296 282 Customer fees and rewards 284 236 Other 217 172 Total deferred tax assets before valuation allowance 2,808 2,935 Valuation allowance (1) (1) Total deferred tax assets, net of valuation allowance 2,807 2,934 Deferred tax liabilities Deferred loan origination costs (24) (40) Accretion income (85) (39) Other (6) (8) Total deferred tax liabilities (115) (87) Net deferred tax assets $ 2,692 $ 2,847
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of beginning and ending unrecognized tax benefits is as follows (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Balance at beginning of period $ 18 $ 19 $ 39 Additions Current year tax positions 3 4 4 Prior year tax positions 2 — 1 Reductions Prior year tax positions (3) (1) (20) Settlements with taxing authorities (1) (1) — Expired statute of limitations (4) (3) (5) Balance at end of period (1) $ 15 $ 18 $ 19 (1) For the years ended December 31, 2024, 2023 and 2022, amounts included $14 million, $18 million and $18 million, respectively, of unrecognized tax benefits, which, if recognized, would favorably affect the effective tax rate.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted EPS	The following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts): For the Years Ended December 31, 2024 2023 2022 Numerator Net income $ 4,535 $ 2,796 $ 4,316 Preferred stock dividends (62) (62) (62) Net income available to common stockholders 4,473 2,734 4,254 Income allocated to participating securities (27) (19) (26) Net income allocated to common stockholders $ 4,446 $ 2,715 $ 4,228 Denominator Weighted-average shares of common stock outstanding 251 254 277 Effect of dilutive common stock equivalents — — 1 Weighted-average shares of common stock outstanding and common stock equivalents 251 254 278 Basic earnings per common share $ 17.72 $ 10.71 $ 15.25 Diluted earnings per common share $ 17.72 $ 10.70 $ 15.23

Capital Adequacy (Tables)

Capital Adequacy (Tables)	12 Months Ended
	Dec. 31, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Schedule of Minimum and Well-Capitalized Requirements	The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and “well-capitalized” requirements (dollars in millions): Actual Minimum Capital Capital Requirements Amount Ratio (1) Amount Ratio Amount (2) Ratio (2) December 31, 2024 Total capital (to risk-weighted assets) Discover Financial Services $ 20,420 16.5 % $ 9,892 ≥8.0% $ 12,365 ≥10.0% Discover Bank $ 17,311 14.2 % $ 9,755 ≥8.0% $ 12,193 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 18,503 15.0 % $ 7,419 ≥6.0% $ 7,419 ≥6.0% Discover Bank $ 14,665 12.0 % $ 7,316 ≥6.0% $ 9,755 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 18,503 12.3 % $ 6,003 ≥4.0% N/A N/A Discover Bank $ 14,665 9.9 % $ 5,933 ≥4.0% $ 7,417 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 17,448 14.1 % $ 5,564 ≥4.5% N/A N/A Discover Bank $ 14,665 12.0 % $ 5,487 ≥4.5% $ 7,926 ≥6.5% December 31, 2023 Total capital (to risk-weighted assets) Discover Financial Services $ 17,399 13.2 % $ 10,509 ≥8.0% $ 13,137 ≥10.0% Discover Bank $ 16,409 12.7 % $ 10,381 ≥8.0% $ 12,976 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,279 11.6 % $ 7,882 ≥6.0% $ 7,882 ≥6.0% Discover Bank $ 13,459 10.4 % $ 7,786 ≥6.0% $ 10,381 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,279 10.3 % $ 5,915 ≥4.0% N/A N/A Discover Bank $ 13,459 9.2 % $ 5,833 ≥4.0% $ 7,292 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,223 10.8 % $ 5,911 ≥4.5% N/A N/A Discover Bank $ 13,459 10.4 % $ 5,839 ≥4.5% $ 8,435 ≥6.5% (1) Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions. (2) The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve’s Regulation Y have been included where available.

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Tables)	12 Months Ended
	Dec. 31, 2024
Merchant Chargeback Guarantees
Guarantor Obligations [Line Items]
Schedule of Maximum Potential Counterparty Exposures Related to Settlement Guarantees and Merchant Chargeback Guarantee	The following table summarizes certain information regarding merchant chargeback guarantees (dollars in millions): For the Years Ended December 31, 2024 2023 2022 Aggregate sales transaction volume (1) $ 245,958 $ 257,611 $ 256,237 (1) Represents transactions processed on the Discover Network for which a potential liability exists that, in aggregate, can differ from credit card sales volume.

Litigation and Regulatory Mat_2

Litigation and Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2024
Loss Contingency [Abstract]
Counterparty Restitution Liability	The following table summarizes the change in the Company’s counterparty restitution liability pertaining to the card product misclassification (dollars in millions): For the Year Ended Balance at December 31, 2023 $ 1,159 Provision for refund of overcharges — Provision for interest on overcharges 56 Provision for other settlement concessions 85 Disbursements (76) Balance at December 31, 2024 $ 1,224

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are as follows (dollars in millions): Quoted Price in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Balance at December 31, 2024 Assets Fair value - OCI Other short-term investments $ 5,423 $ — $ — $ 5,423 U.S. Treasury securities $ 13,988 $ — $ — $ 13,988 Residential mortgage-backed securities - Agency — 371 — 371 Available-for-sale investment securities $ 13,988 $ 371 $ — $ 14,359 Derivative financial instruments - cash flow hedges (1) $ — $ 1 $ — $ 1 Liabilities Fair value - OCI Derivative financial instruments - cash flow hedges (1) $ — $ 1 $ — $ 1 Balance at December 31, 2023 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 12,928 $ 9 $ — $ 12,937 Residential mortgage-backed securities - Agency — 465 — 465 Available-for-sale investment securities $ 12,928 $ 474 $ — $ 13,402 Derivative financial instruments - cash flow hedges (1) $ — $ 2 $ — $ 2 Fair value - Net income Marketable equity securities $ 1 $ — $ — $ 1 Derivative financial instruments - fair value hedges (1) $ — $ 2 $ — $ 2 (1) Derivative instrument carrying values in an asset or liability position are presented as part of other assets or accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition.
Schedule of Financial Instruments Measured at Other Than Fair Value	The following tables disclose the estimated fair value of the Company’s financial assets and financial liabilities that are not required to be carried at fair value (dollars in millions): Balance at December 31, 2024 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 247 $ — $ 247 $ 271 Held-to-maturity investment securities $ — $ 247 $ — $ 247 $ 271 Net loan receivables $ — $ — $ 120,422 $ 120,422 $ 112,795 Carrying value approximates fair value (1) Cash and cash equivalents $ 8,474 $ — $ — $ 8,474 $ 8,474 Restricted cash $ 25 $ — $ — $ 25 $ 25 Accrued interest receivables (2) $ — $ 998 $ — $ 998 $ 998 Liabilities Amortized cost Time deposits (3) $ — $ 42,228 $ — $ 42,228 $ 41,950 Long-term borrowings - owed to securitization investors $ — $ 8,456 $ — $ 8,456 $ 8,475 Other long-term borrowings — 7,891 — 7,891 7,778 Long-term borrowings $ — $ 16,347 $ — $ 16,347 $ 16,253 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 315 $ — $ 315 $ 315 Balance at December 31, 2023 Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 234 $ — $ 234 $ 253 Held-to-maturity investment securities $ — $ 234 $ — $ 234 $ 253 Net loan receivables $ — $ — $ 126,940 $ 126,940 $ 119,126 Carrying value approximates fair value (1) Cash and cash equivalents $ 11,685 $ — $ — $ 11,685 $ 11,685 Restricted cash $ 43 $ — $ — $ 43 $ 43 Accrued interest receivables (2) $ — $ 1,450 $ — $ 1,450 $ 1,450 Liabilities Amortized cost Time deposits (3) $ — $ 45,333 $ — $ 45,333 $ 45,240 Short-term borrowings $ — $ 750 $ — $ 750 $ 750 Long-term borrowings - owed to securitization investors $ — $ 10,770 $ 65 $ 10,835 $ 10,993 Other long-term borrowings — 9,469 — 9,469 9,588 Long-term borrowings $ — $ 20,239 $ 65 $ 20,304 $ 20,581 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 421 $ — $ 421 $ 421 (1) The carrying values of these assets and liabilities approximate fair value due to their short-term nature. (2) Accrued interest receivable and payable carrying values are presented as part of other assets and accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition. (3) Excludes deposits without contractually defined maturities for all periods presented.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Outstanding Notional Amounts of Derivative Instruments and Related Collateral Balances	The following table summarizes the fair value (including accrued interest) and outstanding notional amounts of derivative instruments and related collateral balances (dollars in millions): December 31, 2024 2023 Notional Number of Derivative Assets Derivative Liabilities Notional Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps — cash flow hedge $ 17,750 20 $ 1 $ 1 $ 10,650 $ 2 $ — Interest rate swaps — fair value hedge $ 15,371 19 — — $ 8,650 2 — Derivatives not designated as hedges Foreign exchange forward contracts (1) $ 28 4 — — $ 29 — — Total gross derivative assets/liabilities (2) 1 1 4 — Less: collateral held/posted (3) — (1) — — Total net derivative assets/liabilities $ 1 $ — $ 4 $ — (1) The foreign exchange forward contracts have notional amounts of EUR 1 million, GBP 3 million, SGD 1 million and INR 1.8 billion as of December 31, 2024, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 1.1 billion and AUD 2 million as of December 31, 2023. (2) In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities and tax exempt single family mortgage revenue bonds as part of its community reinvestment initiatives. At December 31, 2024, the Company had one outstanding contract with a total notional amount of $65 million and an immaterial fair value. At December 31, 2023, the Company had one outstanding contract with a total notional amount of $35 million and an immaterial fair value. (3) Collateral amounts, which consist of cash and investment securities, are limited to the related derivative asset/liability balance and do not include excess collateral received/pledged.
Schedule of Hedged Items in Fair Value Hedging Relationship	The following amounts were recorded on the statements of financial condition related to cumulative basis adjustments for fair value hedges (dollars in millions): December 31, 2024 2023 Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Long-term borrowings $ 15,324 $ (8) $ 8,620 $ — (1) The balance includes $5 million and $12 million of cumulative hedging adjustments related to discontinued hedging relationships as of December 31, 2024 and 2023, respectively.
Schedule of Impact of the Derivative Instruments on Income	The following table summarizes the impact of the derivative instruments on income and indicates where within the consolidated financial statements such impact is reported (dollars in millions): Location and Amount of (Losses) Gains Recognized on the Consolidated Statements of Income Interest Expense Deposits Long-Term Interest Income Other Income Other Expense For the Year Ended December 31, 2024 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (4,772) $ (933) $ 16,109 $ 763 $ 929 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ 9 $ (158) $ — $ — Gains on discontinued cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ — $ — $ — $ 13 (Losses) gains on fair value hedging relationships (Losses) gains on hedged items $ (19) $ 21 $ — $ — $ — (Losses) gains on interest rate swaps (1) (158) — — — Total (losses) gains on fair value hedging relationships $ (20) $ (137) $ — $ — $ — For the Year Ended December 31, 2023 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (3,886) $ (855) $ 14,438 $ 85 $ 803 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ 9 $ (91) $ — $ — Gains (losses) on fair value hedging relationships Gains (losses) on hedged items $ — $ (19) $ — $ — $ — Gains (losses) on interest rate swaps — (80) — — — Total gains (losses) on fair value hedging relationships $ — $ (99) $ — $ — $ — For the Year Ended December 31, 2022 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (1,257) $ (606) $ 10,632 $ 75 $ 540 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ — $ (2) $ (2) $ — $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ — $ 66 $ — $ — $ — Gains (losses) on interest rate swaps — (70) — — — Total gains (losses) on fair value hedging relationships $ — $ (4) $ — $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ — $ 1 $ —

Segment Disclosures (Tables)

Segment Disclosures (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Disclosures	The following table presents segment data (dollars in millions): Digital Banking Payment Services Total For the Year Ended December 31, 2024 Interest income Credit card loans $ 16,109 $ — $ 16,109 Private student loans 800 — 800 Personal loans 1,402 — 1,402 Home loans 525 — 525 Other loans 2 — 2 Other interest income 1,182 — 1,182 Total interest income 20,020 — 20,020 Interest expense 5,724 — 5,724 Net interest income 14,296 — 14,296 Provision for credit losses 4,911 — 4,911 Other income 2,902 712 3,614 Other expense Employee compensation and benefits 2,739 85 2,824 Marketing and business development 1,055 15 1,070 Information processing and communications 704 31 735 Professional fees 1,231 43 1,274 Premises and equipment 90 3 93 Other expense 911 18 929 Total other expense (1) 6,730 195 6,925 Income before income taxes $ 5,557 $ 517 $ 6,074 For the Year Ended December 31, 2023 Interest income Credit card loans $ 14,438 $ — $ 14,438 Private student loans 1,033 — 1,033 Personal loans 1,156 — 1,156 Home loans 324 — 324 Other loans 2 — 2 Other interest income 892 — 892 Total interest income 17,845 — 17,845 Interest expense 4,746 — 4,746 Net interest income 13,099 — 13,099 Provision for credit losses 6,018 — 6,018 Other income 2,245 450 2,695 Other expense Employee compensation and benefits 2,356 78 2,434 Marketing and business development 1,147 17 1,164 Information processing and communications 582 26 608 Professional fees 991 50 1,041 Premises and equipment 86 3 89 Other expense 783 20 803 Total other expense (1) 5,945 194 6,139 Income before income taxes $ 3,381 $ 256 $ 3,637 Digital Banking Payment Services Total For the Year Ended December 31, 2022 Interest income Credit card loans $ 10,632 $ — $ 10,632 Private student loans 831 — 831 Personal loans 872 — 872 Home loans 165 — 165 Other loans 2 — 2 Other interest income 362 — 362 Total interest income 12,864 — 12,864 Interest expense 1,865 — 1,865 Net interest income 10,999 — 10,999 Provision for credit losses 2,359 — 2,359 Other income 2,041 176 2,217 Other expense Employee compensation and benefits 2,068 71 2,139 Marketing and business development 1,020 15 1,035 Information processing and communications 485 28 513 Professional fees 838 33 871 Premises and equipment 115 3 118 Other expense 523 17 540 Total other expense (1) 5,049 167 5,216 Income before income taxes $ 5,632 $ 9 $ 5,641

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenue from Contracts with Customers Disaggregated by Business Segment	The following table presents revenue from contracts with customers disaggregated by business segment and reconciles revenue from contracts with customers to total other income (dollars in millions): Digital Banking Payment Services Total For the Year Ended December 31, 2024 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,417 $ 103 $ 1,520 Protection products revenue 169 — 169 Transaction processing revenue — 345 345 Other income 498 265 763 Total other income subject to ASC 606 (2) 2,084 713 2,797 Other income not subject to ASC 606 Loan fee income 819 — 819 Losses on equity investments (1) (1) (2) Total other income (loss) not subject to ASC 606 818 (1) 817 Total other income by operating segment $ 2,902 $ 712 $ 3,614 For the Year Ended December 31, 2023 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,294 $ 87 $ 1,381 Protection products revenue 172 — 172 Transaction processing revenue — 303 303 Other income 16 69 85 Total other income subject to ASC 606 (2) 1,482 459 1,941 Other income not subject to ASC 606 Loan fee income 763 — 763 Gains (losses) on equity investments — (9) (9) Total other income not subject to ASC 606 763 (9) 754 Total other income by operating segment $ 2,245 $ 450 $ 2,695 For the Year Ended December 31, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,224 $ 79 $ 1,303 Protection products revenue 172 — 172 Transaction processing revenue — 249 249 Other income 11 64 75 Total other income subject to ASC 606 (2) 1,407 392 1,799 Other income not subject to ASC 606 Loan fee income 632 — 632 Gains (losses) on equity investments 2 (216) (214) Total other income not subject to ASC 606 634 (216) 418 Total other income by operating segment $ 2,041 $ 176 $ 2,217 (1) Net of rewards, including Cashback Bonus rewards, of $3.0 billion, $3.1 billion and $3.0 billion for the years ended December 31, 2024, 2023 and 2022, respectively. (2) Excludes $7 million, $15 million and $10 million deposit product fees that are reported within net interest income for the years ended December 31, 2024, 2023 and 2022, respectively.

Parent Company Condensed Fina_2

Parent Company Condensed Financial Information (Tables) - Parent Company	12 Months Ended
	Dec. 31, 2024
Condensed Financial Statements, Captions [Line Items]
Schedule of Parent Company Condensed Statements of Financial Condition	The following Parent Company financial statements are provided in accordance with SEC rules, which require such disclosure when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets. Discover Financial Services (Parent Company Only) Condensed Statements of Financial Condition (dollars in millions) December 31, 2024 2023 Assets Cash and cash equivalents (1) $ 5,209 $ 3,509 Restricted cash 100 75 Notes receivable from subsidiaries (2) 1,745 1,650 Investment in bank subsidiary 14,022 12,340 Investments in non-bank subsidiaries 976 974 Other assets 994 871 Total assets $ 23,046 $ 19,419 Liabilities and Stockholders’ Equity Non-interest-bearing deposit accounts $ 3 $ 2 Short-term borrowings from subsidiaries 693 390 Long-term borrowings 3,971 4,469 Accrued expenses and other liabilities 453 323 Total liabilities 5,120 5,184 Stockholders’ equity 17,926 14,235 Total liabilities and stockholders’ equity $ 23,046 $ 19,419 (1) The Parent Company had $5.2 billion and $3.5 billion in a money market deposit account at Discover Bank as of December 31, 2024 and 2023, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2) The Parent Company had a balance of $1.3 billion representing advances to Discover Bank as of December 31, 2024 and 2023, which is included in notes receivable from subsidiaries.
Schedule of Parent Company Condensed Statements of Income	Discover Financial Services (Parent Company Only) Condensed Statements of Comprehensive Income (dollars in millions) For the Years Ended December 31, 2024 2023 2022 Interest income $ 293 $ 240 $ 98 Interest expense 280 189 189 Net interest income (expense) 13 51 (91) Dividends from bank subsidiary 2,600 1,700 4,000 Dividends from non-bank subsidiaries 260 11 688 Other income — 4 — Total income 2,873 1,766 4,597 Other expense (income) 179 (2) 6 Income before income tax benefit and equity in undistributed net income of subsidiaries 2,694 1,768 4,591 Income tax benefit (expense) 19 (7) 25 Equity in undistributed net income of subsidiaries 1,822 1,035 (300) Net income 4,535 2,796 4,316 Other comprehensive (loss) income, net (71) 114 (245) Comprehensive income $ 4,464 $ 2,910 $ 4,071
Schedule of Parent Company Condensed Statements of Cash Flows	Discover Financial Services (Parent Company Only) Condensed Statements of Cash Flows (dollars in millions) For the Years Ended December 31, 2024 2023 2022 Cash flows provided by operating activities Net income $ 4,535 $ 2,796 $ 4,316 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,822) (1,035) 300 Non-cash transfer to (from) subsidiary 40 (11) (188) Stock-based compensation expense 85 74 89 Deferred income taxes (12) 2 (8) Depreciation and amortization 5 4 32 Net gains on investments and other assets — (4) — Changes in assets and liabilities: Increase in other assets (107) (65) (143) Increase (decrease) in accrued expenses and other liabilities 136 (41) 27 Net cash provided by operating activities 2,860 1,720 4,425 Cash flows (used for) provided by investing activities Return of capital from sale of subsidiary — 2 — (Increase) decrease in loans to subsidiaries (95) 109 (982) Proceeds from sale of subsidiary — 3 — Purchases of premises and equipment (1) — — Net cash (used for) provided by investing activities (96) 114 (982) Cash flows used for financing activities Net increase (decrease) in short-term borrowings from subsidiaries 303 275 (324) Proceeds from issuance of common stock 13 12 10 Proceeds from issuance of long-term borrowings — 993 740 Maturities and repayment of long-term borrowings (502) (15) (834) Purchases of treasury stock (83) (1,938) (2,359) Net increase in deposits 1 — — Dividends paid on common and preferred stock (771) (752) (703) Net cash used for financing activities (1,039) (1,425) (3,470) Increase (decrease) in cash, cash equivalents and restricted cash 1,725 409 (27) Cash, cash equivalents and restricted cash, at beginning of period 3,584 3,175 3,202 Cash, cash equivalents and restricted cash, at end of period $ 5,309 $ 3,584 $ 3,175 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 5,209 $ 3,509 $ 3,155 Restricted cash 100 75 20 Cash, cash equivalents and restricted cash, at end of period $ 5,309 $ 3,584 $ 3,175 Supplemental disclosure of cash flow information Cash paid during the period for: Interest expense $ 280 $ 175 $ 159 Income taxes, net of income tax refunds $ (25) $ 22 $ (39)

Background and Basis of Prese_3

Background and Basis of Presentation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | segment	2
Gain (Loss) on Sales of Loans, Net	$ 450	$ 0	$ 0
Consolidation percentage	50%
Cost method investment ownership percentage	20%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained Earnings (Accumulated Deficit)	$ (33,583)	(29,855)
Marketable Securities	(14,630)	(13,655)
Deferred Tax Assets, Net	$ (2,692)	(2,847)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2023-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained Earnings (Accumulated Deficit)		37
Marketable Securities		23
Deferred Tax Assets, Net		$ 14

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Line Items]
Cash and due from banks	$ 919	$ 2,000
Interest-earning deposits at other banks	$ 7,600	9,700
Threshold charge-off period for bankruptcy and probate accounts	60 days
Fraudulent transaction charge off period	90 days
Off-Balance sheet, credit loss, liability	$ 0
Capitalized Computer Software, Gross	0
Advertising costs	329	359	$ 307
Deferred revenues related to balance transfer fees	83	107
Unamortized deferred costs for loan origination	242	306
Credit card rewards cost	3,000	3,100	$ 3,000
Liability for customer rewards	2,100	2,200
Unamortized portion of the deferred incentive payments	$ 28	$ 27
Retirement Eligible [Member]
Accounting Policies [Line Items]
Amortization of share-based compensation in accordance with vesting terms	12 months
Building [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	39 years
Minimum
Accounting Policies [Line Items]
Delinquent loan qualification period	30 days
Minimum | Improvements [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Minimum | Furniture and Fixtures [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	5 years
Minimum | Equipment [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	3 years
Minimum | Software Development [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	3 years
Maximum
Accounting Policies [Line Items]
Cash and cash equivalents maturity period	90 days
Maximum | Improvements [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	15 years
Maximum | Furniture and Fixtures [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Maximum | Equipment [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Maximum | Software Development [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Credit Card Loans
Accounting Policies [Line Items]
Threshold charge-off period for past due accounts (in days)	180 days
Amortization period for loan origination costs	1 year
Personal Loans
Accounting Policies [Line Items]
Threshold charge-off period for past due accounts (in days)	120 days
Home Loans
Accounting Policies [Line Items]
Threshold charge-off period for past due accounts (in days)	180 days

Investments (Schedule of Invest

Investments (Schedule of Investment Securities) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Summary of Investment Holdings [Line Items]
Other short-term investments		$ 5,423	$ 0
Investment securities		14,630	13,655
US Treasury Bill Securities [Member] | Asset Not Pledged as Collateral [Member]
Summary of Investment Holdings [Line Items]
Other short-term investments		5,423	0
US Treasury and Government
Summary of Investment Holdings [Line Items]
Investment securities	[1],[2]	13,988	12,937
Residential Mortgage Backed Securities - Agency
Summary of Investment Holdings [Line Items]
Investment securities	[3]	642	718
U.S. Treasury Securities [Member] | Asset Pledged as Collateral [Member]
Summary of Investment Holdings [Line Items]
Derivative collateral		$ 364	$ 320
[1]$364 million and $320 million of U.S. Treasury securities pledged as swap collateral as of December 31, 2024 and 2023, respectively.[2] Consists of securities issued by the Federal Home Loan Bank (“FHLB”) as of December 31, 2023.

Investments (Schedule of Amorti

Investments (Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value) (Details) - USD ($) $ in Millions		Dec. 31, 2024		Dec. 31, 2023
Summary of Investment Holdings [Line Items]
Debt Securities, available-for-sale, amortized cost	[1]	$ 14,475		$ 13,451
Available-for-sale investment securities, gross unrealized gains	[1]	9		52
Available-for-sale investment securities, gross unrealized losses	[1]	(125)		(101)
Available-for-sale investment securities, fair value	[1]	14,359		13,402
Debt Securities, Held-to-maturity	[2]	271		253
Held-to-maturity investment securities, gross unrealized gains	[2]	0		0
Held-to-maturity investment securities, gross unrealized losses	[2]	(24)		(19)
Held-to-maturity investment securities	[2]	247		234
US Treasury and Government
Summary of Investment Holdings [Line Items]
Debt Securities, available-for-sale, amortized cost	[1]	14,087		12,971
Available-for-sale investment securities, gross unrealized gains	[1]	9		52
Available-for-sale investment securities, gross unrealized losses	[1]	(108)		(86)
Available-for-sale investment securities, fair value	[1]	13,988		12,937
Residential Mortgage Backed Securities - Agency
Summary of Investment Holdings [Line Items]
Debt Securities, available-for-sale, amortized cost	[1]	388	[3]	480
Available-for-sale investment securities, gross unrealized gains	[1]	0		0
Available-for-sale investment securities, gross unrealized losses	[1]	(17)		(15)
Available-for-sale investment securities, fair value	[1]	371	[3]	465
Debt Securities, Held-to-maturity	[2],[4]	271	[3]	253
Held-to-maturity investment securities, gross unrealized gains	[2],[4]	0		0
Held-to-maturity investment securities, gross unrealized losses	[2],[4]	(24)		(19)
Held-to-maturity investment securities	[2],[4]	$ 247	[3]	$ 234
[1] Available-for-sale investment securities are reported at fair value. Held-to-maturity investment securities are reported at amortized cost. Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost. Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives.

Investments (Schedule of Fair V

Investments (Schedule of Fair Value of Securities in a Continuous Unrealized Loss Position for Less Than 12 Months and More Than 12 Months) (Details) $ in Millions	Dec. 31, 2024 USD ($) securities	Dec. 31, 2023 USD ($) securities
US Treasury and Government
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, continuous unrealized loss position, number of securities | securities	177	105
Available-for-sale investment securities, continuous unrealized loss position, less than 12 months, fair value	$ 9,492	$ 3,513
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(91)	(13)
Available-for-sale investment securities, continuous unrealized loss position, more than 12 months, fair value	1,963	3,978
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (17)	$ (73)
Residential Mortgage Backed Securities - Agency
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, continuous unrealized loss position, number of securities | securities	30	31
Available-for-sale investment securities, continuous unrealized loss position, less than 12 months, fair value	$ 0	$ 0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	0
Available-for-sale investment securities, continuous unrealized loss position, more than 12 months, fair value	371	465
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (17)	$ (15)

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Proceeds from the sale of available for sale securities	$ 8	$ 0	$ 0
Taxable interest on investment securities	$ 521	449	179
Tax exempt interest on investment securities		$ 0	$ 0
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Investment related to affordable housing projects	$ 538	$ 514
Contingent liabilities related to affordable housing project investments	223	$ 187
Investment Program, Proportional Amortization Method, Applied, Amortization Expense	$ 62
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration]	Income tax expense
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Cash Flows [Extensible Enumeration]	Income tax expense
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration]	Income tax expense
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization Expense	$ 71
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration]	Income tax expense	Income tax expense
Other Assets [Member] | Payment Services
Summary of Investment Holdings [Line Items]
Equity securities without readily determinable fair value	$ 38	$ 35

Investments (Schedule of Maturi

Investments (Schedule of Maturities and Weighted Average Yields of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities) (Details) - USD ($) $ in Millions		Dec. 31, 2024		Dec. 31, 2023
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost		$ 2,290
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost		11,841
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost		100
Available-for-sale investment securities, debt maturities, after ten years, amortized cost		244
Available-for-sale investment securities, amortized cost	[1]	14,475		$ 13,451
Held-to-maturity investment securities, debt maturities, one year or less, amortized cost		0
Held-to-maturity investment securities, debt maturities, after one year through five years, amortized cost		0
Held-to-maturity investment securities, debt maturities, after five years through ten years, amortized cost		0
Held-to-maturity investment securities, debt maturities, after ten years, amortized cost		271
Held-to-maturity investment securities, amortized cost	[2]	271		253
Available-for-sale investment securities, debt maturities, one year or less, fair value		2,282
Available-for-sale investment securities, debt maturities, after one year through five years, fair value		11,749
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value		96
Available-for-sale investment securities, debt maturities, after ten years, fair value		232
Available-for-sale investment securities, fair value	[1]	14,359		13,402
Held-to-maturity investment securities, debt maturities, one year or less, fair value		0
Held-to-maturity investment securities, debt maturities, after one year through five years, fair value		0
Held-to-maturity investment securities, debt maturities, after five years through ten years, fair value		0
Held-to-maturity investment securities, debt maturities, after ten years, fair value		247
Held-to-maturity investment securities, fair value	[2]	$ 247		234
Available-for-sale investment securities, debt maturities, one year or less, weighted-average yield		3.43%
Available-for-sale investment securities, debt maturities, after one year through five years, weighted-average yield		3.99%
Available-for-sale investment securities, debt maturities, after five years through ten years, weighted-average yield		3.25%
Available-for-sale investment securities, debt maturities, after ten years, weighted-average yield		3.63%
Available-for-sale investment securities, weighted-average yield		3.89%
Held-to-maturity investment securities, debt maturities, one year or less, weighted-average yield		0%
Held-to-maturity investment securities, debt maturities, after one year through five years, weighted-average yield		0%
Held-to-maturity investment securities, debt maturities, after five years though ten years, weighted-average yield		0%
Held-to-maturity investment securities, debt maturities, after ten years, weighted-average yield		3.73%
Held-to-maturity investment securities, weighted-average yield		3.73%
US Treasury and Government
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost		$ 2,290
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost		11,797
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost		0
Available-for-sale investment securities, debt maturities, after ten years, amortized cost		0
Available-for-sale investment securities, amortized cost	[1]	14,087		12,971
Available-for-sale investment securities, debt maturities, one year or less, fair value		2,282
Available-for-sale investment securities, debt maturities, after one year through five years, fair value		11,706
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value		0
Available-for-sale investment securities, debt maturities, after ten years, fair value		0
Available-for-sale investment securities, fair value	[1]	$ 13,988		12,937
Available-for-sale investment securities, debt maturities, one year or less, weighted-average yield		3.43%
Available-for-sale investment securities, debt maturities, after one year through five years, weighted-average yield		4%
Available-for-sale investment securities, debt maturities, after five years through ten years, weighted-average yield		0%
Available-for-sale investment securities, debt maturities, after ten years, weighted-average yield		0%
Available-for-sale investment securities, weighted-average yield		3.91%
Residential Mortgage Backed Securities - Agency
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost	[3]	$ 0
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost	[3]	44
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost	[3]	100
Available-for-sale investment securities, debt maturities, after ten years, amortized cost	[3]	244
Available-for-sale investment securities, amortized cost	[1]	388	[3]	480
Held-to-maturity investment securities, debt maturities, one year or less, amortized cost	[3]	0
Held-to-maturity investment securities, debt maturities, after one year through five years, amortized cost	[3]	0
Held-to-maturity investment securities, debt maturities, after five years through ten years, amortized cost	[3]	0
Held-to-maturity investment securities, debt maturities, after ten years, amortized cost	[3]	271
Held-to-maturity investment securities, amortized cost	[2],[4]	271	[3]	253
Available-for-sale investment securities, debt maturities, one year or less, fair value	[3]	0
Available-for-sale investment securities, debt maturities, after one year through five years, fair value	[3]	43
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value	[3]	96
Available-for-sale investment securities, debt maturities, after ten years, fair value	[3]	232
Available-for-sale investment securities, fair value	[1]	371	[3]	465
Held-to-maturity investment securities, debt maturities, one year or less, fair value	[3]	0
Held-to-maturity investment securities, debt maturities, after one year through five years, fair value	[3]	0
Held-to-maturity investment securities, debt maturities, after five years through ten years, fair value	[3]	0
Held-to-maturity investment securities, debt maturities, after ten years, fair value	[3]	247
Held-to-maturity investment securities, fair value	[2],[4]	$ 247	[3]	$ 234
Available-for-sale investment securities, debt maturities, one year or less, weighted-average yield	[3]	0%
Available-for-sale investment securities, debt maturities, after one year through five years, weighted-average yield	[3]	2.11%
Available-for-sale investment securities, debt maturities, after five years through ten years, weighted-average yield	[3]	3.25%
Available-for-sale investment securities, debt maturities, after ten years, weighted-average yield	[3]	3.63%
Available-for-sale investment securities, weighted-average yield	[3]	3.36%
Held-to-maturity investment securities, debt maturities, one year or less, weighted-average yield	[3]	0%
Held-to-maturity investment securities, debt maturities, after one year through five years, weighted-average yield	[3]	0%
Held-to-maturity investment securities, debt maturities, after five years though ten years, weighted-average yield	[3]	0%
Held-to-maturity investment securities, debt maturities, after ten years, weighted-average yield	[3]	3.73%
Held-to-maturity investment securities, weighted-average yield	[3]	3.73%
[1] Available-for-sale investment securities are reported at fair value. Held-to-maturity investment securities are reported at amortized cost. Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost. Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives.

Loan Receivables (Narrative) (D

Loan Receivables (Narrative) (Details) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments (in segments) | segment				2
Allowance for credit losses	$ 9,283			$ 8,323	$ 9,283	$ 7,374	$ 6,822
Allowance for credit loss, period increase (decrease)				$ (1,000)
Expected future unemployment rate				4.56%
Expected future peak unemployment rate				4.70%
Expected future increase in GDP				1.80%
Financing receivable, allowance for credit loss, reasonable and supportable forecast period	18 months	18 months	18 months	18 months
Financing receivable, allowance for credit loss, reversion period				12 months	12 months
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loan qualification period				30 days
Credit Card Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 7,619			$ 7,403	$ 7,619	5,883	5,273
Temporary reduced payment program, maximum period of payment reduction				12 months
Permanent workout program, maturity				72 months
Total Other Loans | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 722			$ 780	$ 722	$ 595	$ 662
Temporary reduced payment program, maximum period of payment reduction				12 months
Maximum repayment term for permanent modification programs (in years)				9 years

Loan Receivables (Schedule of L

Loan Receivables (Schedule of Loan Receivables) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 121,118	$ 128,409
Allowance for credit losses		(8,323)	(9,283)	$ (7,374)	$ (6,822)
Net loan receivables		112,795	119,126
Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		29,394	30,590
Allowance for credit losses		(1,294)	(1,347)
Credit Card Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[1]	29,394	30,440
Allowance for credit losses	[1]	(1,294)	(1,347)
Net loan receivables		28,100	29,093
Sellers' interest		18,634	15,598
Credit Card Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[2],[3]	102,786	102,259
Allowance for credit losses		(7,403)	(7,619)	(5,883)	(5,273)
Interest Receivable		785	753
Credit Card Loans | Credit Card Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investors' interests		10,800	14,800
Sellers' interest		18,600	15,600
Total Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	18,332	26,150
Total Other Loans | Private Student Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4],[5]	0	10,352
Allowance for credit losses		0	(858)	(839)	(843)
Interest Receivable			522
Private student loans including PCI in repayment			6,300
Total Other Loans | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	10,314	9,852
Allowance for credit losses		(780)	(722)	(595)	(662)
Interest Receivable		77	69
Total Other Loans | Home Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		7,963	5,890
Allowance for credit losses		(140)	(84)	$ (57)	$ (44)
Interest Receivable		30	21
Total Other Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	$ 55	$ 56
[1] The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP. Amounts include carrying values of $10.8 billion and $14.8 billion underlying investors’ interest in trust debt at December 31, 2024 and 2023, respectively, and $18.6 billion and $15.6 billion in seller’s interest at December 31, 2024 and 2023, respectively. See Note 5: Credit Card Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $785 million and $753 million at December 31, 2024 and 2023, respectively. Accrued interest receivable on personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $77 million and $30 million, respectively, at December 31, 2024. Accrued interest receivable on private student, personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023.

Loan Receivables (Schedule of C

Loan Receivables (Schedule of Credit Risk Profile by FICO Score and Origination Year) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		$ 121,118	$ 128,409
Credit Card Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[1],[2]	102,786	102,259
Credit Card Loans | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		$ 82,422	$ 82,238
FICO distribution %, credit card		80%	80%
Credit Card Loans | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		$ 20,364	$ 20,021
FICO distribution %, credit card		20%	20%
Total Other Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	$ 18,332	$ 26,150
Total Other Loans | Personal Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	10,314	9,852
Total Other Loans | Personal Loans | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 4,712
FICO distribution %, originated in current fiscal year		99%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 3,042	$ 5,149
FICO distribution %, originated in fiscal year before latest fiscal year		94%	98%
Loan receivable, year three, originated, two years before current fiscal year		$ 1,355	$ 2,604
FICO distribution %, originated two years before latest fiscal year		90%	93%
Loan receivable, year four, originated, three years before current fiscal year		$ 478	$ 1,049
FICO distribution %, originated three years before latest fiscal year		89%	92%
Loan receivable, year five, originated, four years before current fiscal year		$ 136	$ 355
FICO distribution %, originated four years before latest fiscal year		90%	92%
Loan receivable, originated, more than five years before current fiscal year		$ 74	$ 247
FICO distribution %, originated five or more years before latest fiscal year		82%	86%
Loan receivables		$ 9,797	$ 9,404
FICO scores as a percentage of loan receivables		95%	95%
Total Other Loans | Personal Loans | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 66
FICO distribution %, originated in current fiscal year		1%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 203	$ 100
FICO distribution %, originated in fiscal year before latest fiscal year		6%	2%
Loan receivable, year three, originated, two years before current fiscal year		$ 157	$ 187
FICO distribution %, originated two years before latest fiscal year		10%	7%
Loan receivable, year four, originated, three years before current fiscal year		$ 60	$ 91
FICO distribution %, originated three years before latest fiscal year		11%	8%
Loan receivable, year five, originated, four years before current fiscal year		$ 15	$ 29
FICO distribution %, originated four years before latest fiscal year		10%	8%
Loan receivable, originated, more than five years before current fiscal year		$ 16	$ 41
FICO distribution %, originated five or more years before latest fiscal year		18%	14%
Loan receivables		$ 517	$ 448
FICO scores as a percentage of loan receivables		5%	5%
Total Other Loans | Home Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		$ 7,963	$ 5,890
Total Other Loans | Home Loans | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 2,853
FICO distribution %, originated in current fiscal year		100%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 2,293	$ 2,614
FICO distribution %, originated in fiscal year before latest fiscal year		97%	97%
Loan receivable, year three, originated, two years before current fiscal year		$ 1,442	$ 1,668
FICO distribution %, originated two years before latest fiscal year		97%	97%
Loan receivable, year four, originated, three years before current fiscal year		$ 653	$ 765
FICO distribution %, originated three years before latest fiscal year		97%	97%
Loan receivable, year five, originated, four years before current fiscal year		$ 305	$ 359
FICO distribution %, originated four years before latest fiscal year		97%	97%
Loan receivable, originated, more than five years before current fiscal year		$ 240	$ 294
FICO distribution %, originated five or more years before latest fiscal year		96%	95%
Loan receivables		$ 7,786	$ 5,700
FICO scores as a percentage of loan receivables		98%	97%
Total Other Loans | Home Loans | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 13
FICO distribution %, originated in current fiscal year		0%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 77	$ 86
FICO distribution %, originated in fiscal year before latest fiscal year		3%	3%
Loan receivable, year three, originated, two years before current fiscal year		$ 48	$ 56
FICO distribution %, originated two years before latest fiscal year		3%	3%
Loan receivable, year four, originated, three years before current fiscal year		$ 19	$ 22
FICO distribution %, originated three years before latest fiscal year		3%	3%
Loan receivable, year five, originated, four years before current fiscal year		$ 11	$ 12
FICO distribution %, originated four years before latest fiscal year		3%	3%
Loan receivable, originated, more than five years before current fiscal year		$ 9	$ 14
FICO distribution %, originated five or more years before latest fiscal year		4%	5%
Loan receivables		$ 177	$ 190
FICO scores as a percentage of loan receivables		2%	3%
[1] Amounts include carrying values of $10.8 billion and $14.8 billion underlying investors’ interest in trust debt at December 31, 2024 and 2023, respectively, and $18.6 billion and $15.6 billion in seller’s interest at December 31, 2024 and 2023, respectively. See Note 5: Credit Card Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $785 million and $753 million at December 31, 2024 and 2023, respectively. Accrued interest receivable on personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $77 million and $30 million, respectively, at December 31, 2024. Accrued interest receivable on private student, personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023.

Loan Receivables (Schedule of D

Loan Receivables (Schedule of Delinquent Loans by Origination Year) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		$ 121,118	$ 128,409
30-89 Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		2,145	2,181
90 or More Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		2,071	1,975
Credit Card Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[1],[2]	102,786	102,259
Credit Card Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		1,964	2,038
Credit Card Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		1,980	1,917
Credit Card Loans | Total Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		3,944	3,955
Total Other Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	18,332	26,150
Total Other Loans | Personal Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	10,314	9,852
Total Other Loans | Home Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		7,963	5,890
Total Other Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		181	143
Total Other Loans | 30-89 Days Delinquent [Member] | Personal Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		21
Loan receivable, year two, originated, fiscal year before current fiscal year		51	26
Loan receivable, year three, originated, two years before current fiscal year		34	44
Loan receivable, year four, originated, three years before current fiscal year		11	20
Loan receivable, year five, originated, four years before current fiscal year		3	7
Loan receivable, originated, more than five years before current fiscal year		3	7
Loan receivables		123	104
Total Other Loans | 30-89 Days Delinquent [Member] | Home Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		4
Loan receivable, year two, originated, fiscal year before current fiscal year		17	5
Loan receivable, year three, originated, two years before current fiscal year		20	12
Loan receivable, year four, originated, three years before current fiscal year		9	7
Loan receivable, year five, originated, four years before current fiscal year		4	3
Loan receivable, originated, more than five years before current fiscal year		4	5
Loan receivables		58	32
Total Other Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		91	58
Total Other Loans | 90 or More Days Delinquent [Member] | Personal Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		7
Loan receivable, year two, originated, fiscal year before current fiscal year		21	8
Loan receivable, year three, originated, two years before current fiscal year		15	16
Loan receivable, year four, originated, three years before current fiscal year		6	8
Loan receivable, year five, originated, four years before current fiscal year		1	2
Loan receivable, originated, more than five years before current fiscal year		1	5
Loan receivables		51	39
Total Other Loans | 90 or More Days Delinquent [Member] | Home Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		1
Loan receivable, year two, originated, fiscal year before current fiscal year		9	1
Loan receivable, year three, originated, two years before current fiscal year		14	5
Loan receivable, year four, originated, three years before current fiscal year		8	5
Loan receivable, year five, originated, four years before current fiscal year		4	3
Loan receivable, originated, more than five years before current fiscal year		4	5
Loan receivables		40	19
Total Other Loans | Total Past Due | Personal Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		28
Loan receivable, year two, originated, fiscal year before current fiscal year		72	34
Loan receivable, year three, originated, two years before current fiscal year		49	60
Loan receivable, year four, originated, three years before current fiscal year		17	28
Loan receivable, year five, originated, four years before current fiscal year		4	9
Loan receivable, originated, more than five years before current fiscal year		4	12
Loan receivables		174	143
Total Other Loans | Total Past Due | Home Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		5
Loan receivable, year two, originated, fiscal year before current fiscal year		26	6
Loan receivable, year three, originated, two years before current fiscal year		34	17
Loan receivable, year four, originated, three years before current fiscal year		17	12
Loan receivable, year five, originated, four years before current fiscal year		8	6
Loan receivable, originated, more than five years before current fiscal year		8	10
Loan receivables		$ 98	$ 51
[1] Amounts include carrying values of $10.8 billion and $14.8 billion underlying investors’ interest in trust debt at December 31, 2024 and 2023, respectively, and $18.6 billion and $15.6 billion in seller’s interest at December 31, 2024 and 2023, respectively. See Note 5: Credit Card Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $785 million and $753 million at December 31, 2024 and 2023, respectively. Accrued interest receivable on personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $77 million and $30 million, respectively, at December 31, 2024. Accrued interest receivable on private student, personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023.

Loan Receivables (Schedule of_2

Loan Receivables (Schedule of Changes in the Allowance for Credit Losses) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		$ 9,283	$ 7,374	$ 6,822
Provision for credit losses	[1]	4,951	6,019	2,369
Charge-offs		(7,118)	(4,927)	(2,702)
Recoveries		1,207	885	885
Net charge-offs		(5,911)	(4,042)	(1,817)
Allowance for credit Loss, balance at end of period		8,323	9,283	7,374
Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)		40	1	10
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			(68)
Allowance for credit Loss, balance at end of period				(68)
Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			7,306
Allowance for credit Loss, balance at end of period				7,306
Credit Card Loans
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		7,619	5,883	5,273
Provision for credit losses	[1]	5,178	5,476	2,233
Charge-offs		(6,522)	(4,481)	(2,417)
Recoveries		1,128	807	794
Net charge-offs		(5,394)	(3,674)	(1,623)
Allowance for credit Loss, balance at end of period		7,403	7,619	5,883
Credit Card Loans | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			(66)
Allowance for credit Loss, balance at end of period				(66)
Credit Card Loans | Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			5,817
Allowance for credit Loss, balance at end of period				5,817
Total Other Loans | Private Student Loans
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		858	839	843
Provision for credit losses	[1]	(770)	152	99
Charge-offs		(100)	(155)	(126)
Recoveries		12	22	23
Net charge-offs		(88)	(133)	(103)
Allowance for credit Loss, balance at end of period		0	858	839
Total Other Loans | Private Student Loans | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			0
Allowance for credit Loss, balance at end of period				0
Total Other Loans | Private Student Loans | Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			839
Allowance for credit Loss, balance at end of period				839
Total Other Loans | Personal Loans
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		722	595	662
Provision for credit losses	[1]	476	363	24
Charge-offs		(484)	(290)	(159)
Recoveries		66	56	68
Net charge-offs		(418)	(234)	(91)
Allowance for credit Loss, balance at end of period		780	722	595
Total Other Loans | Personal Loans | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			(2)
Allowance for credit Loss, balance at end of period				(2)
Total Other Loans | Personal Loans | Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			593
Allowance for credit Loss, balance at end of period				593
Total Other Loans | Home Loans
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		84	57	44
Provision for credit losses		67	28	13
Charge-offs		(12)	(1)	0
Recoveries		1	0	0
Net charge-offs		(11)	(1)	0
Allowance for credit Loss, balance at end of period		$ 140	84	57
Total Other Loans | Home Loans | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			0
Allowance for credit Loss, balance at end of period				0
Total Other Loans | Home Loans | Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period			$ 57
Allowance for credit Loss, balance at end of period				$ 57
[1] Excludes a $40 million , $1 million and $10 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2024, 2023 and 2022, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company’s consolidated statements of financial condition. With the sale of the private student loan portfolio in 2024, a liability for expected credit losses on unfunded commitments is no longer recorded.

Loan Receivables (Schedule of N

Loan Receivables (Schedule of Net Charge-offs of Interest and Fee Revenues on Loan Receivables) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Interest and fees accrued subsequently charged off, net of recoveries (recorded as a reduction of interest income)	$ 1,105	$ 681	$ 303
Fees accrued subsequently charged off, net of recoveries (recorded as a reduction to other income)	$ 256	$ 192	$ 100

Loan Receivables (Schedule of G

Loan Receivables (Schedule of Gross Principal Charge-offs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss, Writeoff	$ 7,118	$ 4,927	$ 2,702
Credit Card Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Writeoff	6,522	4,481
Financing Receivable, Allowance for Credit Loss, Writeoff	6,522	4,481	2,417
Total Other Loans | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	22
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff	183	19
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff	170	119
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff	69	81
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff	22	33
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff	18	38
Financing Receivable, Allowance for Credit Loss, Writeoff	484	290	159
Total Other Loans | Home Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff	3	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff	6	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff	2	1
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff	0	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff	1	0
Financing Receivable, Allowance for Credit Loss, Writeoff	$ 12	$ 1	$ 0

Loan Receivables (Schedule of_3

Loan Receivables (Schedule of Delinquent and Non-Accruing Loans) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loan receivables		$ 121,118	$ 128,409
Loan receivables, 90 or more days delinquent and accruing		1,999	1,921
Loan receivables, total non-accruing	[1]	299	261
30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		2,145	2,181
90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		2,071	1,975
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		4,216	4,156
Credit Card Loans
Financing Receivable, Past Due [Line Items]
Loan receivables	[2],[3]	102,786	102,259
Loan receivables, 90 or more days delinquent and accruing		1,940	1,881
Loan receivables, total non-accruing	[1]	194	197
Estimated gross interest income that would have been recorded based on original terms		35	37	$ 23
Credit Card Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		1,964	2,038
Credit Card Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		1,980	1,917
Credit Card Loans | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		3,944	3,955
Total Other Loans
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	18,332	26,150
Loan receivables, 90 or more days delinquent and accruing		59	40
Loan receivables, total non-accruing	[1]	105	64
Total Other Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		181	143
Total Other Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		91	58
Total Other Loans | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		272	201
Total Other Loans | Personal Loans
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	10,314	9,852
Loan receivables, 90 or more days delinquent and accruing		50	37
Loan receivables, total non-accruing	[1]	11	11
Total Other Loans | Personal Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		123	104
Total Other Loans | Personal Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		51	39
Total Other Loans | Personal Loans | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		174	143
Total Other Loans | Home Loans
Financing Receivable, Past Due [Line Items]
Loan receivables		7,963	5,890
Loan receivables, 90 or more days delinquent and accruing		9	3
Loan receivables, total non-accruing		94	53
Total Other Loans | Home Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		58	32
Total Other Loans | Home Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		40	19
Total Other Loans | Home Loans | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		98	51
Total Other Loans | Other Loans
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	$ 55	56
Loan receivables, 90 or more days delinquent and accruing			0
Loan receivables, total non-accruing	[1]		0
Total Other Loans | Other Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables			7
Total Other Loans | Other Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables			0
Total Other Loans | Other Loans | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables			$ 7
[1] The Company estimates that the gross interest income that would have been recorded under the original terms of non-accruing credit card loans was $35 million, $37 million and $23 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company does not separately track the amount of gross interest income that would have been recorded under the original terms of loans. Instead, the Company estimated this amount based on customers’ current balances and most recent interest rates . Amounts include carrying values of $10.8 billion and $14.8 billion underlying investors’ interest in trust debt at December 31, 2024 and 2023, respectively, and $18.6 billion and $15.6 billion in seller’s interest at December 31, 2024 and 2023, respectively. See Note 5: Credit Card Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $785 million and $753 million at December 31, 2024 and 2023, respectively. Accrued interest receivable on personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $77 million and $30 million, respectively, at December 31, 2024. Accrued interest receivable on private student, personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023.

Loan Receivables (Schedule of_4

Loan Receivables (Schedule of Loans That Entered a Modification Program During the Period) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Credit Card Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 3,425	$ 2,330
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage	3.33%	2.28%
Financing Receivable, Revolving, Converted to Term Loan During Period	$ 616	$ 408
Credit Card Loans | Contractual Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	3,425	2,330
Total Other Loans | Personal Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 190	$ 133
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage	1.84%	1.35%
Total Other Loans | Personal Loans | Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 13	$ 10
Total Other Loans | Personal Loans | Extended Maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	41	29
Total Other Loans | Personal Loans | InterestRateReductionandPaymentDeferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	91	65
Total Other Loans | Personal Loans | Extended Maturity and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 45	$ 29

Loan Receivables (Schedule of_5

Loan Receivables (Schedule of Loan Modification Effects) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Credit Card Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification	14.33%	13.85%
Financing Receivable, Modified in Period, Accrued Interest, Amount	$ 219	$ 117
Temporary reduced payment program, maximum period of payment reduction	12 months
Credit Card Loans | Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount	$ 229	$ 121
Total Other Loans | Personal Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification	13.61%	12.28%
Financing Receivable, Modified, Weighted Average Term Increase from Modification	48 months	39 months
Temporary reduced payment program, maximum period of payment reduction	12 months
Total Other Loans | Personal Loans | Minimum
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	6 months	6 months
Total Other Loans | Personal Loans | Maximum
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	12 months	12 months

Loan Receivables (Schedule of_6

Loan Receivables (Schedule of Delinquent Loans Receivable Aging) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financial Asset, 1 to 29 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	$ 3,041	$ 1,991
30-89 Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	326	272
90 or More Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	250	200
Credit Card Loans | Financial Asset, 1 to 29 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	2,885	1,882
Credit Card Loans | 30-89 Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	297	252
Credit Card Loans | 90 or More Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	244	196
Total Other Loans | Financial Asset, 1 to 29 Days Past Due | Personal Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	156	109
Total Other Loans | 30-89 Days Delinquent [Member] | Personal Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	29	20
Total Other Loans | 90 or More Days Delinquent [Member] | Personal Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	$ 6	$ 4

Loan Receivables (Schedule of F

Loan Receivables (Schedule of Financing Receivable, Modified, Subsequent Default) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Credit Card Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	$ 447	$ 210
Credit Card Loans | Contractual Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	447	210
Total Other Loans | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	20	8
Total Other Loans | Payment Deferral | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	2	1
Total Other Loans | Extended Maturity | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	3	2
Total Other Loans | InterestRateReductionandPaymentDeferral | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	7	2
Total Other Loans | Extended Maturity and Interest Rate Reduction | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	8	3
Carrying Value | Credit Card Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	906	383
Carrying Value | Credit Card Loans | Contractual Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	906	383
Carrying Value | Total Other Loans | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	66	23
Carrying Value | Total Other Loans | Payment Deferral | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	4	2
Carrying Value | Total Other Loans | Extended Maturity | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	9	4
Carrying Value | Total Other Loans | InterestRateReductionandPaymentDeferral | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	32	10
Carrying Value | Total Other Loans | Extended Maturity and Interest Rate Reduction | Personal Loans
Financing Receivable, Modified, Subsequent Default [Line Items]
Defaulted Amount	$ 21	$ 7

Loan Receivables (Schedule of_7

Loan Receivables (Schedule of Geographic Distribution of Loan Receivables) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 121,118	$ 128,409
Credit Card Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[1],[2]	$ 102,786	$ 102,259
Percentage of total loan receivables (in percent)		100%	100%
Credit Card Loans | Texas
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 9,195	$ 9,150
Percentage of total loan receivables (in percent)		8.90%	8.90%
Credit Card Loans | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 9,065	$ 9,078
Percentage of total loan receivables (in percent)		8.80%	8.90%
Credit Card Loans | Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 7,636	$ 7,496
Percentage of total loan receivables (in percent)		7.40%	7.30%
Credit Card Loans | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 6,496	$ 6,538
Percentage of total loan receivables (in percent)		6.30%	6.40%
Credit Card Loans | Illinois
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 5,017	$ 5,012
Percentage of total loan receivables (in percent)		4.90%	4.90%
Credit Card Loans | Pennsylvania
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 4,988	$ 4,985
Percentage of total loan receivables (in percent)		4.90%	4.90%
Credit Card Loans | Ohio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 4,180	$ 4,188
Percentage of total loan receivables (in percent)		4.10%	4.10%
Credit Card Loans | New Jersey
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 3,511	$ 3,499
Percentage of total loan receivables (in percent)		3.40%	3.40%
Credit Card Loans | Georgia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 3,343	$ 3,294
Percentage of total loan receivables (in percent)		3.30%	3.20%
Credit Card Loans | Michigan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 2,808	$ 2,821
Percentage of total loan receivables (in percent)		2.70%	2.80%
Credit Card Loans | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 46,547	$ 46,198
Percentage of total loan receivables (in percent)		45.30%	45.20%
Total Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[3]	$ 18,332	$ 26,150
Percentage of total loan receivables (in percent)		100%	100%
Total Other Loans | Texas
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,658	$ 1,987
Percentage of total loan receivables (in percent)		9%	7.60%
Total Other Loans | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 2,024	$ 2,449
Percentage of total loan receivables (in percent)		11%	9.40%
Total Other Loans | Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,428	$ 1,607
Percentage of total loan receivables (in percent)		7.80%	6.10%
Total Other Loans | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,043	$ 2,074
Percentage of total loan receivables (in percent)		5.70%	7.90%
Total Other Loans | Illinois
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 771	$ 1,405
Percentage of total loan receivables (in percent)		4.20%	5.40%
Total Other Loans | Pennsylvania
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 683	$ 1,567
Percentage of total loan receivables (in percent)		3.70%	6%
Total Other Loans | Ohio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 586	$ 975
Percentage of total loan receivables (in percent)		3.20%	3.70%
Total Other Loans | New Jersey
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 746	$ 1,285
Percentage of total loan receivables (in percent)		4.10%	4.90%
Total Other Loans | Georgia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 765	$ 851
Percentage of total loan receivables (in percent)		4.20%	3.30%
Total Other Loans | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 8,058	$ 11,172
Percentage of total loan receivables (in percent)		44%	42.70%
Total Other Loans | Virginia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 570	$ 778
Percentage of total loan receivables (in percent)		3.10%	3%
[1] Amounts include carrying values of $10.8 billion and $14.8 billion underlying investors’ interest in trust debt at December 31, 2024 and 2023, respectively, and $18.6 billion and $15.6 billion in seller’s interest at December 31, 2024 and 2023, respectively. See Note 5: Credit Card Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $785 million and $753 million at December 31, 2024 and 2023, respectively. Accrued interest receivable on personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $77 million and $30 million, respectively, at December 31, 2024. Accrued interest receivable on private student, personal and home loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023.

Credit Card Loan Securitizati_3

Credit Card Loan Securitization Activities (Narrative) (Details)	12 Months Ended
	Dec. 31, 2024 classes
Variable Interest Entity, Primary Beneficiary | Discover Card Execution Note Trust [Member] | Credit Card Securitization Trusts [Member]
Variable Interest Entity [Line Items]
Number of classes of securities in debt structure (in classes)	4

Credit Card Loan Securitizati_4

Credit Card Loan Securitization Activities (Schedule of Restricted Credit Card Securitized Assets) (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Restricted cash		$ 25	$ 43	$ 41
Loan receivables		121,118	128,409
Allowance for credit losses		(8,323)	(9,283)	$ (7,374)	$ (6,822)
Net loan receivables		112,795	119,126
Other assets		4,966	5,858
Total assets		147,640	151,713
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Restricted cash		25	43
Loan receivables		29,394	30,590
Allowance for credit losses		(1,294)	(1,347)
Other assets		1	3
Variable Interest Entity, Primary Beneficiary | Credit Card Securitization Trusts [Member]
Variable Interest Entity [Line Items]
Restricted cash		25	36
Investors’ interests held by third-party investors		8,500	11,725
Investors’ interests held by wholly-owned subsidiaries of Discover Bank		2,260	3,117
Seller’s interest		18,634	15,598
Loan receivables	[1]	29,394	30,440
Allowance for credit losses	[1]	(1,294)	(1,347)
Net loan receivables		28,100	29,093
Other assets		1	2
Total assets		$ 28,126	$ 29,131
[1] The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP.

Premises and Equipment (Schedul

Premises and Equipment (Schedule of Premises and Equipment) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 2,546	$ 3,102
Premises and equipment, net	1,072	1,091
Land [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	29	37
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	520	605
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	780	1,155
Software [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,217	1,305
Less: accumulated depreciation and accumulated amortization of software	(504)	(602)
Premises and Equipment Excluding Software [Member]
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and accumulated amortization of software	$ (970)	$ (1,409)

Premises and Equipment (Narrati

Premises and Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 71	$ 74	$ 80
Amortization expense on capitalized software	$ 173	$ 113	$ 114

Goodwill (Narrative) (Details)

Goodwill (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 255	$ 255
Payment Services
Goodwill [Line Items]
Goodwill	255	255
Goodwill impairment charge	$ 0	$ 0

Deposits (Narrative) (Details)

Deposits (Narrative) (Details) - USD ($) $ in Billions	Dec. 31, 2024	Dec. 31, 2023
Deposits [Abstract]
Deposit Liability, Uninsured	$ 9.3	$ 7

Deposits (Schedule of Uninsured

Deposits (Schedule of Uninsured Certificates of Deposits) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Deposits [Abstract]
Three months or less	$ 276
Over three months through six months	315
Over six months through twelve months	281
Over twelve months	260
Total certificate of deposits above the FDIC-insurance limit	$ 1,132

Deposits (Schedule of Certifica

Deposits (Schedule of Certificates of Deposit Maturities) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Deposits [Abstract]
2025	$ 28,448
2026	5,515
2027	4,542
2028	2,202
2029	439
Thereafter	804
Total	$ 41,950

Long-Term Borrowings (Narrative

Long-Term Borrowings (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available	$ 5,200	$ 3,600
Federal Home Loan Bank advances	523	1,000
Discover Card Master Trust I and Discover Card Execution Note Trust | Securitized Debt
Debt Instrument [Line Items]
Total commitment of secured credit facilities	3,500	3,500
Long-Term Line of Credit	$ 0	$ 750

Long-Term Borrowings (Schedule

Long-Term Borrowings (Schedule of Long-Term Borrowings and Weighted Average Interest Rates) (Details) $ in Millions		3 Months Ended		12 Months Ended
		Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Long-term borrowings		$ 16,253	$ 20,581	$ 16,253
Parent Company
Debt Instrument [Line Items]
Long-term borrowings		3,971	4,469	3,971
Securitized Debt | Discover Card Master Trust I and Discover Card Execution Note Trust
Debt Instrument [Line Items]
Long-term borrowings		$ 8,475	10,928	$ 8,475
Securitized Debt | Discover Card Master Trust I and Discover Card Execution Note Trust | Fixed-Rate Asset-Backed Securities
Debt Instrument [Line Items]
Weighted-Average Interest Rate	[1]	3.55%		3.55%
Long-term borrowings	[1]	$ 8,475	10,003	$ 8,475
Securitized Debt | Discover Card Master Trust I and Discover Card Execution Note Trust | Fixed-Rate Asset-Backed Securities | Minimum
Debt Instrument [Line Items]
Interest Rate	[1]	1.03%		1.03%
Securitized Debt | Discover Card Master Trust I and Discover Card Execution Note Trust | Fixed-Rate Asset-Backed Securities | Maximum
Debt Instrument [Line Items]
Interest Rate	[1]	5.03%		5.03%
Securitized Debt | Discover Card Master Trust I and Discover Card Execution Note Trust | Floating-Rate Asset-Backed Securities
Debt Instrument [Line Items]
Weighted-Average Interest Rate		0%		0%
Long-term borrowings		$ 0	925	$ 0
Securitized Debt | Student Loan Trust
Debt Instrument [Line Items]
Long-term borrowings		$ 0	65	$ 0
Securitized Debt | Student Loan Trust | Floating-Rate Asset-Backed Securities
Debt Instrument [Line Items]
Weighted-Average Interest Rate		0%		0%
Long-term borrowings		$ 0	65	$ 0
Securitized Debt | Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Long-term borrowings		$ 8,475	10,993	$ 8,475
Corporate Debt Securities | Parent Company | Fixed-Rate Senior Notes
Debt Instrument [Line Items]
Weighted-Average Interest Rate		4.80%		4.80%
Long-term borrowings		$ 2,840	3,336	$ 2,840
Corporate Debt Securities | Parent Company | Fixed-Rate Senior Notes | Minimum
Debt Instrument [Line Items]
Interest Rate		3.75%		3.75%
Corporate Debt Securities | Parent Company | Fixed-Rate Senior Notes | Maximum
Debt Instrument [Line Items]
Interest Rate		6.70%		6.70%
Corporate Debt Securities | Parent Company | Fixed Rate Retail Notes
Debt Instrument [Line Items]
Weighted-Average Interest Rate		3.82%		3.82%
Long-term borrowings		$ 138	140	$ 138
Corporate Debt Securities | Parent Company | Fixed Rate Retail Notes | Minimum
Debt Instrument [Line Items]
Interest Rate		3.25%		3.25%
Corporate Debt Securities | Parent Company | Fixed Rate Retail Notes | Maximum
Debt Instrument [Line Items]
Interest Rate		4.40%		4.40%
Corporate Debt Securities | Parent Company | Fixed to Floating-Rate Senior Notes
Debt Instrument [Line Items]
Weighted-Average Interest Rate	[2]	7.96%		7.96%
Long-term borrowings	[2]	$ 993	993	$ 993
Interest rate terms		SOFR + 3.370%
Debt Instrument Basis Spread on Variable Rate 1, Rate To Be Used in Future Periods				0.0337
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]				Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Corporate Debt Securities | Parent Company | Fixed to Floating-Rate Senior Notes | Maximum
Debt Instrument [Line Items]
Interest Rate		7.96%		7.96%
Senior Notes | Discover Bank | Fixed-Rate Senior Bank Notes
Debt Instrument [Line Items]
Weighted-Average Interest Rate	[1]	3.82%		3.82%
Long-term borrowings	[1]	$ 2,792	3,571	$ 2,792
Senior Notes | Discover Bank | Fixed-Rate Senior Bank Notes | Minimum
Debt Instrument [Line Items]
Interest Rate	[1]	2.70%		2.70%
Senior Notes | Discover Bank | Fixed-Rate Senior Bank Notes | Maximum
Debt Instrument [Line Items]
Interest Rate	[1]	4.65%		4.65%
Subordinated Debt | Discover Bank | Fixed-Rate Subordinated Bank Notes
Debt Instrument [Line Items]
Weighted-Average Interest Rate	[1]	5.97%		5.97%
Long-term borrowings	[1]	$ 492	500	$ 492
Subordinated Debt | Discover Bank | Fixed-Rate Subordinated Bank Notes | Maximum
Debt Instrument [Line Items]
Interest Rate	[1]	5.97%		5.97%
Federal Home Loan Bank Advances | Discover Bank | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.16%
Federal Home Loan Bank Advances | Discover Bank | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		0.26%
Federal Home Loan Bank Advances | Discover Bank | FixedRateFHLBAdvance
Debt Instrument [Line Items]
Weighted-Average Interest Rate		4.82%		4.82%
Long-term borrowings		$ 523	523	$ 523
Federal Home Loan Bank Advances | Discover Bank | FixedRateFHLBAdvance | Minimum
Debt Instrument [Line Items]
Interest Rate		4.77%		4.77%
Federal Home Loan Bank Advances | Discover Bank | FixedRateFHLBAdvance | Maximum
Debt Instrument [Line Items]
Interest Rate		4.82%		4.82%
Federal Home Loan Bank Advances | Discover Bank | Floating Rate FHLB Advance
Debt Instrument [Line Items]
Weighted-Average Interest Rate	[3]	0%		0%
Long-term borrowings	[3]	$ 0	$ 525	$ 0
Interest rate terms			SOFR plus a spread ranging from 16 to 26 basis points
Federal Home Loan Bank Advances | Discover Bank | Floating Rate FHLB Advance | Minimum
Debt Instrument [Line Items]
Interest Rate		0%		0%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]			Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Federal Home Loan Bank Advances | Discover Bank | Floating Rate FHLB Advance | Maximum
Debt Instrument [Line Items]
Interest Rate		0%		0%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]			Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
[1] The Company uses interest rate swaps to hedge portions of these long-term borrowings against changes in fair value attributable to changes in the applicable benchmark interest rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 21: Derivatives and Hedging Activities. The fixed to floating-rate senior notes include a rate reset on November 2, 2033, to a floating rate based on compounded SOFR + 3.370%.

Long-Term Borrowings (Schedul_2

Long-Term Borrowings (Schedule of Long-Term Borrowings Maturities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2025	$ 6,170
2026	4,905
2027	1,002
2028	1,415
2029	7
Thereafter	2,754
Total	$ 16,253	$ 20,581

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) plans shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans (in plans) | plans	2
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost | $	$ 45,000
Weighted average period of recognizing unrecognized compensation cost (in years)	10 months 2 days
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost | $	$ 3,000
Weighted average period of recognizing unrecognized compensation cost (in years)	8 months 26 days
Award performance period (in years)	3 years
Award vesting period (in years)	3 years
Performance Stock Units [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares per performance stock unit | shares	1.5
Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares available for grant (in shares) | shares	18,000,000
Directors Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares used in calculation of the total number of units available for grant (in shares) | shares	1,000,000
Annual awards calculation | $	$ 170
Directors Compensation Plan [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual awards that shall vest (in percent)	100%

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Schedule of Stock-Based Compensation Plans Compensation Cost, Net of Forfeitures) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, net of forfeitures	$ 95	$ 74	$ 89
Income tax benefit from compensation cost, net of forfeitures	19	18	16
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, net of forfeitures	86	69	58
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, net of forfeitures	$ 9	$ 5	$ 31

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans (Schedule of Restricted Stock Unit Activity) (Details) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options [Roll Forward]
Stock-based compensation, balance at beginning of period, number of units (in units)		1,944,117
Stock-based compensation, granted, number of units (in units)		1,018,909
Stock-based compensation, conversions to common stock, number of units (in units)		(1,365,035)
Stock-based compensation, forfeited, number of units (in units)		(270,974)
Stock-based compensation, balance at end of period, number of units (in units)		1,327,017	1,944,117
Stock-based compensation, vested and convertible, number of units		107,283
Stock-based compensation, weighted average remaining contractual term (in years)		10 months 20 days
Stock-based compensation, vested and convertible, weighted average remaining contractual term (in years)		0 years
Stock-based compensation, aggregate intrinsic value		$ 230	$ 219
Stock-based compensation, vested and convertible, aggregate intrinsic value		$ 19
Unvested stock-based compensation, balance at beginning of period, number of units (in units)	[1]	1,157,694
Unvested stock-based compensation, granted, number of units (in units)		1,018,909
Unvested stock-based compensation, vested in period, number of units (in units)		(733,413)
Unvested stock-based compensation, forfeited, number of units (in units)		(270,974)
Unvested stock-based compensation, balance at end of period, number of units (in units)	[1]	1,172,216	1,157,694
Unvested stock-based compensation, balance at beginning of period, weighted-average grant-date fair value	[1]	$ 106.87
Unvested stock-based compensation, granted, weighted-average grant-date fair value		111.69	$ 104.20	$ 116.50
Unvested stock-based compensation, vested in period, weighted-average grant-date fair value		108.78
Unvested stock-based compensation, forfeited, weighted-average grant-date fair value		109.17
Unvested stock-based compensation, balance at end of period, weighted-average grant-date fair value	[1]	$ 109.33	$ 106.87
[1] Unvested RSUs represent awards where recipients have yet to satisfy either explicit vesting terms or retirement-eligibility requirements.

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans (Schedule of Intrinsic Value of RSUs Converted to Common Stock and Grant Date Fair Value of RSUs Vested) (Details) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock units converted to common stock	$ 172	$ 68	$ 59
Grant-date fair value of stock units vested	$ 80	$ 56	$ 41
Stock-based compensation, granted, weighted-average grant-date fair value	$ 111.69	$ 104.20	$ 116.50

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans (Schedule of Performance Stock Unit Activity) (Details) - Performance Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options [Roll Forward]
Stock-based compensation, balance at beginning of period, number of units (in units)	[1]	580,677
Stock-based compensation, granted, number of units (in units)		116,539
Stock-based compensation, conversions to common stock, number of units (in units)		(364,211)
Stock-based compensation, forfeited, number of units (in units)		(72,358)
Stock-based compensation, balance at end of period, number of units (in units)	[1]	260,647	[2],[3],[4]	580,677
Stock-based compensation, balance at beginning of period, weighted-average grant-date fair value	[1]	$ 108.56
Stock-based compensation, granted, weighted-average grant-date fair value		0		$ 110.70	$ 124.01
Stock-based compensation, conversions to common stock, weighted-average grant-date fair value		94.26
Stock-based compensation, forfeited, weighted-average grant-date fair value		108.72
Stock-based compensation, balance at end of period, weighted-average grant-date fair value	[1]	$ 116.69	[2],[3],[4]	$ 108.56
Stock-based compensation, weighted average remaining contractual term (in years)	[1],[2],[3],[4]	7 months 20 days
Stock-based compensation, aggregate intrinsic value	[1]	$ 45	[2],[3],[4]	$ 65
Performance stock units granted during period that are earned and subject to requisite service period (in units)		0		143,273	117,374
[1]All PSUs outstanding at December 31, 2024 and December 31, 2023, are unvested PSUs.[2]Includes 117,374 PSUs granted in 2022 that are earned based on the Company’s cumulative earnings per share (“EPS”) as measured over the three-year performance period, which ended December 31, 2024, and are subject to the requisite service period, which ended February 1, 2025.[3]Includes 143,273 PSUs granted in 2023 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2025, and are subject to the requisite service period, which ends February 1, 2026.[4]No PSUs were granted in 2024.

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans Schedule of Intrinsic Value of PSUs Converted to Common Stock and Grant Date Fair Value of PSUs Vested (Details) - Performance Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Performance Stock Units Converted to Common Stock [Line Items]
Intrinsic value of stock units converted to common stock	$ 43	$ 47	$ 29
Grant-date fair value of stock units vested	$ 34	$ 35	$ 17
Stock-based compensation, granted, weighted-average grant-date fair value	$ 0	$ 110.70	$ 124.01

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pretax expense associated with the 401(k) matching and fixed employer contributions	$ 137	$ 128	$ 104
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions	29
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions	33
Pension Plans, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Funded (Unfunded) Status of Plan	$ 5	$ 14

Common and Preferred Stock (Det

Common and Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended
		Jun. 22, 2020	Oct. 31, 2017	Dec. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred Stock, par or stated value per share				$ 0.01	$ 0.01
Series C Preferred Stock [Member]
Class of Stock [Line Items]
PreferredStockIssueDate	[1]		Oct. 31, 2017
Series D Preferred Stock [Member]
Class of Stock [Line Items]
PreferredStockIssueDate	[1]	Jun. 22, 2020
Common Stock [Member]
Class of Stock [Line Items]
Number of shares of stock repurchased during the period (in shares)				0
Preferred Stock [Member]
Class of Stock [Line Items]
PreferredStockDepositarySharesIssued				1,070,000	1,070,000
Preferred Stock, Including Additional Paid in Capital				$ 1,056	$ 1,056
Preferred Stock [Member] | Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference per share	[1],[2],[3]			$ 1,000
Preferred stock, redemption price per share	[1],[2],[3]			$ 1,000
Preferred stock, dividend rate	[1],[4]			5.50%
PreferredStockDepositarySharesIssued				570,000	570,000
Preferred Stock, Including Additional Paid in Capital	[1]			$ 563	$ 563
Depositary shares represented by one preferred stock share				100
Preferred Stock, par or stated value per share				$ 0.01
PreferredStockEarliestRedemptionDate				Oct. 30, 2027
Redemption period of preferred stock following regulatory capital event				90 days
Preferred Stock [Member] | Series C Preferred Stock [Member] | Three-Month Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Class of Stock [Line Items]
Preferred Stock Dividend Payment Rate Variable, Rate To Be Used in Future Periods				3.338%
Preferred Stock [Member] | Series D Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference per share	[1],[3],[5]			$ 1,000
Preferred stock, redemption price per share	[1],[3],[5]			$ 1,000
Preferred stock, dividend rate	[1],[6]			6.125%
PreferredStockDepositarySharesIssued				500,000	500,000
Preferred Stock, Including Additional Paid in Capital	[1]			$ 493	$ 493
Depositary shares represented by one preferred stock share		100
Preferred Stock, par or stated value per share				$ 0.01
Redemption period of preferred stock following regulatory capital event				90 days
Dividend rate reset				5 years
Preferred Stock [Member] | Series D Preferred Stock [Member] | Five-Year Treasury Rate [Member]
Class of Stock [Line Items]
Preferred Stock Dividend Payment Rate Variable, Rate To Be Used in Future Periods				5.783%
[1] Issued as depositary shares, each representing 1/100 th interest in a share of the corresponding series of preferred stock. Each preferred share has a par value of $0.01. Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part on any dividend payment date on or after October 30, 2027, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series C preferred stock). Redeemable at the redemption price plus declared and unpaid dividends. Any dividends declared are payable semi-annually in arrears at a rate of 5.500% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month Term SOFR plus a spread of 3.338% per annum. Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part during the three-month period prior to, and including, each reset date (as defined in the certificate of designations for the Series D preferred stock) or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series D Preferred Stock). Any dividends declared are payable semi-annually in arrears at a rate of 6.125% per annum until September 23, 2025, after which the dividend rate will reset every 5 years to a fixed annual rate equal to the 5-year Treasury plus a spread of 5.783%.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	$ (225)
Net change in accumulated other comprehensive income (loss), net of tax	(71)	$ 114	$ (245)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(296)	(225)
Unrealized Gains (Losses) on Available-for-Sale Investment Securities, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(37)	(136)	114
Net change in accumulated other comprehensive income (loss), net of tax	(49)	99	(250)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(86)	(37)	(136)
Gains (Losses) on Cash Flow Hedges, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(8)	(14)	(9)
Net change in accumulated other comprehensive income (loss), net of tax	(12)	6	(5)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(20)	(8)	(14)
Losses on Pension Plan, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(180)	(189)	(199)
Net change in accumulated other comprehensive income (loss), net of tax	(10)	9	10
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(190)	(180)	(189)
AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(225)	(339)	(94)
Net change in accumulated other comprehensive income (loss), net of tax	(71)	114	(245)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	$ (296)	$ (225)	$ (339)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Schedule of Other Comprehensive Income Before Reclassifications and Amounts Reclassified from AOCI) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, before tax	$ (66)	$ 131	$ (331)
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, tax benefit (expense)	17	(32)	81
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, net of tax	(49)	99	(250)
Available-for-sale investment securities, net change, before tax	(66)	131	(331)
Available-for-sale investment securities, net change, tax benefit (expense)	17	(32)	81
Available-for-sale investment securities, net change, net of tax	(49)	99	(250)
Cash flow hedges, net unrealized gains (losses) arising during the period, before tax	(152)	(74)	(13)
Cash flow hedges, net unrealized gains (losses) arising during the period, tax benefit (expense)	37	18	3
Cash flow hedges, net unrealized gains (losses) arising during the period, net of tax	(115)	(56)	(10)
Cash flow hedges, amounts reclassified from AOCI, before tax	136	82	4
Cash flow hedges, amounts reclassified from AOCI, tax benefit (expense)	(33)	(20)	1
Cash flow hedges, amounts reclassified from AOCI, net of tax	103	62	5
Cash flow hedges, net change, before tax	(16)	8	(9)
Cash flow hedges, net change, tax benefit (expense)	4	(2)	4
Cash flow hedges, net change, net of tax	(12)	6	(5)
Pension plan, unrealized gains (losses) arising during the period, before tax	(13)	12	13
Pension plan, unrealized gains (losses) arising during the period, tax benefit (expense)	3	(3)	(3)
Pension plan, unrealized gains (losses) arising during the period, net of tax	(10)	9	10
Pension plan, net change, before tax	(13)	12	13
Pension plan, net change, tax benefit (expense)	3	(3)	(3)
Pension plan, net change, net of tax	$ (10)	$ 9	$ 10

Other Expense (Schedule of Othe

Other Expense (Schedule of Other Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Component of Other Expense [Abstract]
Fraud losses and other charges	$ 122	$ 131	$ 149
Postage	123	115	97
Credit-related inquiry fees	49	40	31
Supplies	38	38	35
Other expense	597	479	228
Total other expense	$ 929	$ 803	$ 540

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Interest and penalties accrued for unrecognized tax benefits	$ 1	$ 2

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income Tax Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current tax expense, U.S. federal	$ 1,136	$ 1,254	$ 1,465
Current tax expense, U.S. state and local	241	258	312
Total current tax expense	1,377	1,512	1,777
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred tax expense, U.S. federal	144	(595)	(398)
Deferred tax expense, U.S. state and local	18	(76)	(54)
Total deferred tax expense	162	(671)	(452)
Income tax expense	$ 1,539	$ 841	$ 1,325

Income Taxes (Schedule of Recon

Income Taxes (Schedule of Reconciliation the Effective Tax Rate to the U.S. Federal Statutory Income Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	21%	21%	21%
U.S. state, local and other income taxes, net of U.S. federal income tax benefits	3.60%	3.50%	3.40%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent	1.20%	0%	0%
Tax credits	(0.50%)	(2.10%)	(1.30%)
Other	0%	0.70%	0.40%
Effective income tax rate	25.30%	23.10%	23.50%

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Allowance for credit losses	$ 2,011	$ 2,245
Card product misclassification liability	296	282
Customer fees and rewards	284	236
Other	217	172
Total deferred tax assets before valuation allowance	2,808	2,935
Valuation allowance	(1)	(1)
Total deferred tax assets, net of valuation allowance	2,807	2,934
Deferred loan origination costs	(24)	(40)
Deferred Tax Liabilities, Tax Deferred Income	(85)	(39)
Other	(6)	(8)
Total deferred tax liabilities	(115)	(87)
Net deferred tax assets	$ 2,692	$ 2,847

Income Taxes (Schedule of Rec_2

Income Taxes (Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits, balance at beginning of period		$ 18	[1]	$ 19	[1]	$ 39
Unrecognized tax benefits, additions, current year tax positions		3		4		4
Unrecognized tax benefits, additions, prior year tax positions		2		0		1
Unrecognized tax benefits, reductions, prior year tax positions		(3)		(1)		(20)
Unrecognized tax benefits, reductions, settlements with taxing authorities		(1)		(1)		0
Unrecognized tax benefits, reductions, expired statute of limitations		(4)		(3)		(5)
Unrecognized tax benefits, balance at end of period	[1]	15		18		19
Unrecognized tax benefits that would favorably affect the effective tax rate		$ 14		$ 18		$ 18
[1] For the years ended December 31, 2024, 2023 and 2022, amounts included $14 million, $18 million and $18 million, respectively, of unrecognized tax benefits, which, if recognized, would favorably affect the effective tax rate.

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator [Abstract]
Net income	$ 4,535	$ 2,796	$ 4,316
Preferred Stock Dividends	(62)	(62)	(62)
Net income available to common stockholders	4,473	2,734	4,254
Income Allocated to Participating Securities	(27)	(19)	(26)
Net income allocated to common stockholders	4,446	2,715	4,228
Net income (loss) available to common stockholders, diluted	$ 4,446	$ 2,715	$ 4,228
Denominator [Abstract]
Weighted-average shares of common stock outstanding (in shares)	251	254	277
Effect of dilutive common stock equivalents (in shares)	0	0	1
Weighted-average shares of common stock outstanding and common stock equivalents (in shares)	251	254	278
Basic earnings per common share	$ 17.72	$ 10.71	$ 15.25
Diluted earnings per common share	$ 17.72	$ 10.70	$ 15.23

Capital Adequacy (Schedule of M

Capital Adequacy (Schedule of Minimum and Well-Capitalized Requirements) (Details) $ in Millions		Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Parent Company
Compliance with Regulatory Capital Requirements [Line Items]
Total capital to risk-weighted assets, actual amount		$ 20,420	$ 17,399
Total capital to risk-weighted assets, actual ratio (in percent)	[1]	0.165	0.132
Total capital to risk-weighted assets, minimum capital requirements, amount		$ 9,892	$ 10,509
Total capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.080	0.080
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 12,365	$ 13,137
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.100	0.100
Tier I capital to risk-weighted assets, actual amount		$ 18,503	$ 15,279
Tier I capital to risk-weighted assets, actual ratio (in percent)	[1]	0.150	0.116
Tier I capital to risk-weighted assets, minimum capital requirements, amount		$ 7,419	$ 7,882
Tier I capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.060	0.060
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 7,419	$ 7,882
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.060	0.060
Tier I capital to average assets, actual amount		$ 18,503	$ 15,279
Tier I capital to average assets, actual ratio (in percent)	[1]	0.123	0.103
Tier I capital to average assets, minimum capital requirements, amount		$ 6,003	$ 5,915
Tier I capital to average assets, minimum capital requirements, ratio (in percent)		0.040	0.040
CET1 capital to risk-weighted assets, actual amount		$ 17,448	$ 14,223
CET1 capital to risk-weighted assets, actual ratio (in percent)	[1]	0.141	0.108
CET1 capital to risk-weighted assets, minimum capital requirements, amount		$ 5,564	$ 5,911
CET1 capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		4.50%	4.50%
Discover Bank
Compliance with Regulatory Capital Requirements [Line Items]
Total capital to risk-weighted assets, actual amount		$ 17,311	$ 16,409
Total capital to risk-weighted assets, actual ratio (in percent)	[1]	0.142	0.127
Total capital to risk-weighted assets, minimum capital requirements, amount		$ 9,755	$ 10,381
Total capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.080	0.080
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 12,193	$ 12,976
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.100	0.100
Tier I capital to risk-weighted assets, actual amount		$ 14,665	$ 13,459
Tier I capital to risk-weighted assets, actual ratio (in percent)	[1]	0.120	0.104
Tier I capital to risk-weighted assets, minimum capital requirements, amount		$ 7,316	$ 7,786
Tier I capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.060	0.060
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 9,755	$ 10,381
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.080	0.080
Tier I capital to average assets, actual amount		$ 14,665	$ 13,459
Tier I capital to average assets, actual ratio (in percent)	[1]	0.099	0.092
Tier I capital to average assets, minimum capital requirements, amount		$ 5,933	$ 5,833
Tier I capital to average assets, minimum capital requirements, ratio (in percent)		0.040	0.040
Tier I capital to average assets, capital requirements to be classified as well-capitalize, amount	[2]	$ 7,417	$ 7,292
Tier I capital to average assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.050	0.050
CET1 capital to risk-weighted assets, actual amount		$ 14,665	$ 13,459
CET1 capital to risk-weighted assets, actual ratio (in percent)	[1]	0.120	0.104
CET1 capital to risk-weighted assets, minimum capital requirements, amount		$ 5,487	$ 5,839
CET1 capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		4.50%	4.50%
CET1 capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 7,926	$ 8,435
CET1 capital to risk-weighted assets, capital requirements to be classified as well capitalized, ratio (in percent)	[2]	6.50%	6.50%
[1] Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions. The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve’s Regulation Y have been included where available.

Capital Adequacy (Narrative) (D

Capital Adequacy (Narrative) (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Discover Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends paid to parent company	$ 2.6	$ 1.7	$ 4

Commitments, Contingencies an_3

Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Commitments, Contingencies and Guarantees [Line Items]
Off-Balance sheet, credit loss, liability	$ 0
Commitments to Extend Credit
Commitments, Contingencies and Guarantees [Line Items]
Unused commitments to extend credit for loans	232,600
Counterparty Settlement Guarantees Member
Commitments, Contingencies and Guarantees [Line Items]
Maximum potential counterparty exposure	120
Contingent liabilities related to equity method investments	0
Merchant Chargeback Guarantees
Commitments, Contingencies and Guarantees [Line Items]
Escrow deposits and settlement withholdings	$ 11	$ 10

Commitments, Contingencies an_4

Commitments, Contingencies and Guarantees (Schedule of Maximum Potential Counterparty Exposures Related to Settlement Guarantees and Merchant Chargeback Guarantee) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Merchant Chargeback Guarantees
Loss Contingencies [Line Items]
Aggregate sales transaction volume	[1]	$ 245,958	$ 257,611	$ 256,237
[1] Represents transactions processed on the Discover Network for which a potential liability exists that, in aggregate, can differ from credit card sales volume.

Litigation and Regulatory Mat_3

Litigation and Regulatory Matters (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 22, 2020	Dec. 31, 2024	Dec. 31, 2023
Card Product Misclassification Merchant and Merchant acquirers
Loss Contingencies [Line Items]
Accrued Liabilities and Other Liabilities		$ 1,224	$ 1,159
Accrued Professional Fees		26
Loss Contingency Accrual, Provision for Refund of Overcharges		0
Loss Contingency Accrual, Provision for Interest on Overcharges		56
Loss Contingency Accrual, Provision for Other Settlement Concessions		85
Loss Contingency Accrual, Payments		(76)
Card Product Misclassification Regulator penalties
Loss Contingencies [Line Items]
Accrued Liabilities and Other Liabilities		290
Unfavorable Regulatory Action | Consumer Financial Protection Bureau Consent Order
Loss Contingencies [Line Items]
Amount of civil money penalty for CFPB consent order	$ 25
Maximum | Pending and Threatened Litigation
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued		$ 70
Minimum | Unfavorable Regulatory Action | Consumer Financial Protection Bureau Consent Order
Loss Contingencies [Line Items]
Aggregate range of reasonably possible losses	$ 10

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions		Dec. 31, 2024		Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other short-term investments		$ 5,423		$ 0
Debt Securities, Available-for-sale	[1]	14,359		13,402
US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[1]	13,988		12,937
Residential Mortgage Backed Securities - Agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[1]	371	[2]	465
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other short-term investments		5,423
Debt Securities, Available-for-sale		14,359		13,402
Equity Securities, FV-NI	[3]			1
Fair Value, Recurring | Interest Rate Swaps | Cash Flow Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	1		2
Derivative financial instruments, liabilities, fair value	[3]	1
Fair Value, Recurring | Interest Rate Swaps | Fair Value Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value				2
Fair Value, Recurring | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale				12,937
Fair Value, Recurring | Residential Mortgage Backed Securities - Agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		371		465
Fair Value, Recurring | U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		13,988
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other short-term investments		5,423
Debt Securities, Available-for-sale		13,988		12,928
Equity Securities, FV-NI				1
Fair Value, Recurring | Level 1 | Interest Rate Swaps | Cash Flow Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	0		0
Derivative financial instruments, liabilities, fair value	[3]	0
Fair Value, Recurring | Level 1 | Interest Rate Swaps | Fair Value Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value				0
Fair Value, Recurring | Level 1 | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale				12,928
Fair Value, Recurring | Level 1 | Residential Mortgage Backed Securities - Agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		0		0
Fair Value, Recurring | Level 1 | U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		13,988
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other short-term investments		0
Debt Securities, Available-for-sale		371		474
Equity Securities, FV-NI				0
Fair Value, Recurring | Level 2 | Interest Rate Swaps | Cash Flow Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	1		2
Derivative financial instruments, liabilities, fair value	[3]	1
Fair Value, Recurring | Level 2 | Interest Rate Swaps | Fair Value Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value				2
Fair Value, Recurring | Level 2 | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale				9
Fair Value, Recurring | Level 2 | Residential Mortgage Backed Securities - Agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		371		465
Fair Value, Recurring | Level 2 | U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		0
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other short-term investments		0
Debt Securities, Available-for-sale		0		0
Equity Securities, FV-NI				0
Fair Value, Recurring | Level 3 | Interest Rate Swaps | Cash Flow Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	0		0
Derivative financial instruments, liabilities, fair value	[3]	0
Fair Value, Recurring | Level 3 | Interest Rate Swaps | Fair Value Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value				0
Fair Value, Recurring | Level 3 | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale				0
Fair Value, Recurring | Level 3 | Residential Mortgage Backed Securities - Agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		0		$ 0
Fair Value, Recurring | Level 3 | U.S. Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		$ 0
[1] Available-for-sale investment securities are reported at fair value. Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost. Derivative instrument carrying values in an asset or liability position are presented as part of other assets or accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill and Intangible Asset Impairment	$ 0	$ 0
Residential Mortgage Backed Securities - Agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale security, par value	$ 388
Available for sale securities, weighted average coupon rate (in percent)	4.12%
Available for sale securities, weighted average remaining maturity (in years)	4 years

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Financial Instruments Measured at Other Than Fair Value) (Details) - USD ($) $ in Millions		Dec. 31, 2024		Dec. 31, 2023
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		$ 247		$ 234
Net loan receivables		120,422		126,940
Cash and cash equivalents	[1]	8,474		11,685
Restricted cash	[1]	25		43
Accrued interest receivables	[1],[2]	998		1,450
Time deposits	[3]	42,228		45,333
Short-term Debt, Fair Value				750
Long-term borrowings		16,347		20,304
Accrued interest payables	[1],[2]	315		421
Estimate of Fair Value Measurement | Variable Interest Entity, Primary Beneficiary
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		8,456		10,835
Estimate of Fair Value Measurement | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		7,891		9,469
Estimate of Fair Value Measurement | Residential Mortgage Backed Securities - Agency
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		247		234
Estimate of Fair Value Measurement | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Net loan receivables		0		0
Cash and cash equivalents	[1]	8,474		11,685
Restricted cash	[1]	25		43
Accrued interest receivables	[1],[2]	0		0
Time deposits	[3]	0		0
Short-term Debt, Fair Value				0
Long-term borrowings		0		0
Accrued interest payables	[1],[2]	0		0
Estimate of Fair Value Measurement | Level 1 | Variable Interest Entity, Primary Beneficiary
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimate of Fair Value Measurement | Level 1 | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimate of Fair Value Measurement | Level 1 | Residential Mortgage Backed Securities - Agency
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Estimate of Fair Value Measurement | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		247		234
Net loan receivables		0		0
Cash and cash equivalents	[1]	0		0
Restricted cash	[1]	0		0
Accrued interest receivables	[1],[2]	998		1,450
Time deposits	[3]	42,228		45,333
Short-term Debt, Fair Value				750
Long-term borrowings		16,347		20,239
Accrued interest payables	[1],[2]	315		421
Estimate of Fair Value Measurement | Level 2 | Variable Interest Entity, Primary Beneficiary
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		8,456		10,770
Estimate of Fair Value Measurement | Level 2 | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		7,891		9,469
Estimate of Fair Value Measurement | Level 2 | Residential Mortgage Backed Securities - Agency
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		247		234
Estimate of Fair Value Measurement | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Net loan receivables		120,422		126,940
Cash and cash equivalents	[1]	0		0
Restricted cash	[1]	0		0
Accrued interest receivables	[1],[2]	0		0
Time deposits	[3]	0		0
Short-term Debt, Fair Value				0
Long-term borrowings		0		65
Accrued interest payables	[1],[2]	0		0
Estimate of Fair Value Measurement | Level 3 | Variable Interest Entity, Primary Beneficiary
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		65
Estimate of Fair Value Measurement | Level 3 | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimate of Fair Value Measurement | Level 3 | Residential Mortgage Backed Securities - Agency
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		271		253
Net loan receivables		112,795		119,126
Cash and cash equivalents	[1]	8,474		11,685
Restricted cash	[1]	25		43
Accrued interest receivables	[1],[2]	998		1,450
Time deposits	[3]	41,950		45,240
Short-term Debt, Fair Value				750
Long-term borrowings		16,253		20,581
Accrued interest payables	[1],[2]	315		421
Carrying Value | Variable Interest Entity, Primary Beneficiary
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		8,475		10,993
Carrying Value | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		7,778		9,588
Carrying Value | Residential Mortgage Backed Securities - Agency
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		271		253
Held-to-maturity investment securities	[4]	247		234
Residential Mortgage Backed Securities - Agency
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities	[4],[5]	$ 247	[6]	$ 234
[1]The carrying values of these assets and liabilities approximate fair value due to their short-term nature.[2]Accrued interest receivable and payable carrying values are presented as part of other assets and accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition.[3]Excludes deposits without contractually defined maturities for all periods presented.[4] Held-to-maturity investment securities are reported at amortized cost. Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives. Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost.

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Interest Income
Derivative [Line Items]
Cash flow hedge loss to be reclassified to earnings within twelve months	$ 14
Financing Receivable [Member]
Derivative [Line Items]
Initial maximum period for cash flow hedges (in years)	5 years	5 years

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Schedule of Fair Value and Outstanding Notional Amounts of Derivative Instruments and Related Collateral Balances) (Details) € in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions, ₨ in Billions		Dec. 31, 2024 USD ($) transactions	Dec. 31, 2024 EUR (€) transactions	Dec. 31, 2024 GBP (£) transactions	Dec. 31, 2024 SGD ($) transactions	Dec. 31, 2024 INR (₨) transactions	Dec. 31, 2023 USD ($) transactions	Dec. 31, 2023 EUR (€) transactions	Dec. 31, 2023 GBP (£) transactions	Dec. 31, 2023 SGD ($) transactions	Dec. 31, 2023 INR (₨) transactions	Dec. 31, 2023 AUD ($) transactions
Derivatives, Fair Value [Line Items]
Derivative assets	[1]	$ 1					$ 4
Collateral held, derivative assets	[2]	0					0
Total net derivative assets		1					4
Derivative liabilities	[1]	1					0
Collateral posted, derivative liabilities	[2]	(1)					0
Total net derivative liabilities		0					0
Designated as Hedges | Cash Flow Hedges | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 17,750					10,650
Derivative, number of outstanding derivative contracts | transactions		20	20	20	20	20
Derivative assets		$ 1					2
Derivative liabilities		1					0
Designated as Hedges | Fair Value Hedges | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 15,371					8,650
Derivative, number of outstanding derivative contracts | transactions		19	19	19	19	19
Derivative assets		$ 0					2
Derivative liabilities		0					0
Not Designated as Hedges | Foreign Exchange Forward Contracts
Derivatives, Fair Value [Line Items]
Derivative, notional amount	[3]	$ 28					29
Derivative, number of outstanding derivative contracts | transactions		4	4	4	4	4
Derivative assets		$ 0					0
Derivative liabilities		0					0
Not Designated as Hedges | Foreign Exchange Forward Contracts | Euro Member Countries, Euro
Derivatives, Fair Value [Line Items]
Derivative, notional amount | €			€ 1					€ 6
Not Designated as Hedges | Foreign Exchange Forward Contracts | United Kingdom, Pounds
Derivatives, Fair Value [Line Items]
Derivative, notional amount | £				£ 3					£ 6
Not Designated as Hedges | Foreign Exchange Forward Contracts | Singapore, Dollars
Derivatives, Fair Value [Line Items]
Derivative, notional amount					$ 1					$ 1
Not Designated as Hedges | Foreign Exchange Forward Contracts | India, Rupees
Derivatives, Fair Value [Line Items]
Derivative, notional amount | ₨						₨ 1.8					₨ 1.1
Not Designated as Hedges | Foreign Exchange Forward Contracts | Australia, Dollars
Derivatives, Fair Value [Line Items]
Derivative, notional amount												$ 2
Not Designated as Hedges | When-Issued Mortgage-Backed Contracts
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 65					$ 35
Derivative, number of outstanding derivative contracts | transactions		1	1	1	1	1	1	1	1	1	1	1
[1] In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities and tax exempt single family mortgage revenue bonds as part of its community reinvestment initiatives. At December 31, 2024, the Company had one outstanding contract with a total notional amount of $65 million and an immaterial fair value. At December 31, 2023, the Company had one outstanding contract with a total notional amount of $35 million and an immaterial fair value. The foreign exchange forward contracts have notional amounts of EUR 1 million, GBP 3 million, SGD 1 million and INR 1.8 billion as of December 31, 2024, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 1.1 billion and AUD 2 million as of December 31, 2023.

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities Derivatives and Hedging Activities (Schedule of Hedged Items in Fair Value Hedging Relationship) (Details) - Long-term Borrowings - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Schedule of Hedged Items in Fair Value Hedging Relationship [Line Items]
Carrying amount of hedged assets/liabilities		$ 15,324	$ 8,620
Cumulative amount of fair value hedging adjustment increasing (decreasing) the carrying amount of hedged assets/liabilities	[1]	(8)	0
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)		$ 5	$ 12
[1] The balance includes $5 million and $12 million of cumulative hedging adjustments related to discontinued hedging relationships as of December 31, 2024 and 2023, respectively.

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities (Schedule of Impact of the Derivative Instruments on Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings	$ (136)	$ (82)	$ (4)
Deposits | Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	(4,772)	(3,886)	(1,257)
Deposits | Designated as Hedges | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings	0	0	0
Amounts reclassified from OCI into earnings	0
(Losses) gains on hedged items	(19)	0	0
(Losses) gains on interest rate swaps	(1)	0	0
Total (losses) gains on fair value hedging relationships	$ (20)	0	0
OCI, Cash Flow Hedge, Reclassification for Discontinuance, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Deposits
Deposits | Not Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivatives not designated as hedges			0
Long-term Borrowings | Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	$ (933)	(855)	(606)
Long-term Borrowings | Designated as Hedges | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings	9	9	(2)
Amounts reclassified from OCI into earnings	0
(Losses) gains on hedged items	21	(19)	66
(Losses) gains on interest rate swaps	(158)	(80)	(70)
Total (losses) gains on fair value hedging relationships	$ (137)	(99)	(4)
OCI, Cash Flow Hedge, Reclassification for Discontinuance, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Long-Term Debt
Long-term Borrowings | Not Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivatives not designated as hedges			0
Credit Card Loans | Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	$ 16,109	14,438	10,632
Credit Card Loans | Designated as Hedges | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings	(158)	(91)	(2)
Amounts reclassified from OCI into earnings	0
(Losses) gains on hedged items	0	0	0
(Losses) gains on interest rate swaps	0	0	0
Total (losses) gains on fair value hedging relationships	$ 0	0	0
OCI, Cash Flow Hedge, Reclassification for Discontinuance, Statement of Income or Comprehensive Income [Extensible Enumeration]	Credit card loans
Credit Card Loans | Not Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivatives not designated as hedges			0
Other Income | Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	$ 763	85	75
Other Income | Designated as Hedges | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings	0	0	0
Amounts reclassified from OCI into earnings	0
(Losses) gains on hedged items	0	0	0
(Losses) gains on interest rate swaps	0	0	0
Total (losses) gains on fair value hedging relationships	0	0	0
Other Income | Not Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivatives not designated as hedges			1
Other Expense | Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	929	803	540
Other Expense | Designated as Hedges | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings	0	0	0
Amounts reclassified from OCI into earnings	13
(Losses) gains on hedged items	0	0	0
(Losses) gains on interest rate swaps	0	0	0
Total (losses) gains on fair value hedging relationships	$ 0	$ 0	0
Other Expense | Not Designated as Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains on derivatives not designated as hedges			$ 0

Segment Disclosures (Narrative)

Segment Disclosures (Narrative) (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Disclosures (Schedule o

Segment Disclosures (Schedule of Segment Disclosures) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Interest income	$ 20,020	$ 17,845	$ 12,864
Interest expense	5,724	4,746	1,865
Net interest income	14,296	13,099	10,999
Provision for credit losses	4,911	6,018	2,359
Other income	3,614	2,695	2,217
Employee compensation and benefits	2,824	2,434	2,139
Marketing and business development	1,070	1,164	1,035
Information processing and communications	735	608	513
Professional fees	1,274	1,041	871
Premises and equipment	93	89	118
Other expense	929	803	540
Total other expense	6,925	6,139	5,216
Income before income taxes	6,074	3,637	5,641
Credit Card Loans
Segment Reporting Information [Line Items]
Interest income	16,109	14,438	10,632
Total Other Loans | Private Student Loans
Segment Reporting Information [Line Items]
Interest income	800	1,033	831
Total Other Loans | Personal Loans
Segment Reporting Information [Line Items]
Interest income	1,402	1,156	872
Total Other Loans | Home Loans
Segment Reporting Information [Line Items]
Interest income	525	324	165
Total Other Loans | Other Loans
Segment Reporting Information [Line Items]
Interest income	2	2	2
Unallocated Financing Receivables | Other
Segment Reporting Information [Line Items]
Interest income	1,182	892	362
Operating Segments | Digital Banking
Segment Reporting Information [Line Items]
Interest income	20,020	17,845	12,864
Interest expense	5,724	4,746	1,865
Net interest income	14,296	13,099	10,999
Provision for credit losses	4,911	6,018	2,359
Other income	2,902	2,245	2,041
Employee compensation and benefits	2,739	2,356	2,068
Marketing and business development	1,055	1,147	1,020
Information processing and communications	704	582	485
Professional fees	1,231	991	838
Premises and equipment	90	86	115
Other expense	911	783	523
Noninterest Expense Direct	2,700	2,800	2,400
Noninterest Expense Allocated	4,000	3,100	2,600
Total other expense	6,730	5,945	5,049
Income before income taxes	5,557	3,381	5,632
Operating Segments | Digital Banking | Credit Card Loans
Segment Reporting Information [Line Items]
Interest income	16,109	14,438	10,632
Operating Segments | Digital Banking | Total Other Loans | Private Student Loans
Segment Reporting Information [Line Items]
Interest income	800	1,033	831
Operating Segments | Digital Banking | Total Other Loans | Personal Loans
Segment Reporting Information [Line Items]
Interest income	1,402	1,156	872
Operating Segments | Digital Banking | Total Other Loans | Home Loans
Segment Reporting Information [Line Items]
Interest income	525	324	165
Operating Segments | Digital Banking | Total Other Loans | Other Loans
Segment Reporting Information [Line Items]
Interest income	2	2	2
Operating Segments | Digital Banking | Unallocated Financing Receivables | Other
Segment Reporting Information [Line Items]
Interest income	1,182	892	362
Operating Segments | Payment Services
Segment Reporting Information [Line Items]
Interest income	0	0	0
Interest expense	0	0	0
Net interest income	0	0	0
Provision for credit losses	0	0	0
Other income	712	450	176
Employee compensation and benefits	85	78	71
Marketing and business development	15	17	15
Information processing and communications	31	26	28
Professional fees	43	50	33
Premises and equipment	3	3	3
Other expense	18	20	17
Noninterest Expense Direct	124	117	109
Noninterest Expense Allocated	71	77	58
Total other expense	195	194	167
Income before income taxes	517	256	9
Operating Segments | Payment Services | Credit Card Loans
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments | Payment Services | Total Other Loans | Private Student Loans
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments | Payment Services | Total Other Loans | Personal Loans
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments | Payment Services | Total Other Loans | Home Loans
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments | Payment Services | Total Other Loans | Other Loans
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments | Payment Services | Unallocated Financing Receivables | Other
Segment Reporting Information [Line Items]
Interest income	$ 0	$ 0	$ 0

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Schedule of Revenue from Contracts with Customers Disaggregated by Business Segment) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	$ 1,520	$ 1,381	$ 1,303
Protection products revenue		169	172	172
Transaction processing revenue		345	303	249
Other income		763	85	75
Total other income subject to ASC 606(2)	[2]	2,797	1,941	1,799
Loan fee income		819	763	632
Losses on equity investments		(2)	(9)	(214)
Total other income (loss) not subject to ASC 606		817	754	418
Total other income		3,614	2,695	2,217
Customer rewards included in discount and interchange revenue		3,000	3,100	3,000
Deposit product fees reported in net interest income and excluded from other income subject to ASC 606		7	15	10
Operating Segments | Digital Banking
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	1,417	1,294	1,224
Protection products revenue		169	172	172
Transaction processing revenue		0	0	0
Other income		498	16	11
Total other income subject to ASC 606(2)	[2]	2,084	1,482	1,407
Loan fee income		819	763	632
Losses on equity investments		(1)	0	2
Total other income (loss) not subject to ASC 606		818	763	634
Total other income		2,902	2,245	2,041
Operating Segments | Payment Services
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	103	87	79
Protection products revenue		0	0	0
Transaction processing revenue		345	303	249
Other income		265	69	64
Total other income subject to ASC 606(2)	[2]	713	459	392
Loan fee income		0	0	0
Losses on equity investments		(1)	(9)	(216)
Total other income (loss) not subject to ASC 606		(1)	(9)	(216)
Total other income		$ 712	$ 450	$ 176
[1]Net of rewards, including Cashback Bonus rewards, of $3.0 billion, $3.1 billion and $3.0 billion for the years ended December 31, 2024, 2023 and 2022, respectively.[2]Excludes $7 million, $15 million and $10 million deposit product fees that are reported within net interest income for the years ended December 31, 2024, 2023 and 2022, respectively.

Parent Company Condensed Fina_3

Parent Company Condensed Financial Information (Schedule of Parent Company Condensed Statements of Financial Condition) (Details) - USD ($) $ in Millions		Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents		$ 8,474		$ 11,685		$ 8,856
Restricted cash		25		43		41
Net loan receivables		112,795		119,126
Other assets		4,966		5,858
Total assets		147,640		151,713
Liabilities and Stockholders’ Equity
Non-interest-bearing deposit accounts		1,550		1,438
Long-term borrowings		16,253		20,581
Accrued expenses and other liabilities		6,452		7,216
Total liabilities		129,714		137,478
Stockholders’ equity		17,926		14,235		13,895	$ 12,789
Total liabilities and stockholders’ equity		147,640		151,713
Parent Company
Assets
Cash and cash equivalents		5,209	[1]	3,509	[1]	3,155
Restricted cash		100		75		$ 20
Net loan receivables	[2]	$ 1,745		$ 1,650
Financing Receivable, after Allowance for Credit Loss, Related Party [Extensible Enumeration]	[2]	Subsidiaries		Subsidiaries
Investment in bank subsidiary		$ 14,022		$ 12,340
Investments in non-bank subsidiaries		976		974
Other assets		994		871
Total assets		23,046		19,419
Liabilities and Stockholders’ Equity
Non-interest-bearing deposit accounts		3		2
Long-term borrowings		3,971		4,469
Accrued expenses and other liabilities		453		323
Total liabilities		5,120		5,184
Stockholders’ equity		17,926		14,235
Total liabilities and stockholders’ equity		23,046		19,419
Parent Company | Subsidiaries
Liabilities and Stockholders’ Equity
Short-term borrowings from subsidiaries		693		390
Parent Company | Discover Bank
Liabilities and Stockholders’ Equity
Liquidity available to parent from money market deposit account at subsidiary		5,200		3,500
Liquidity available to parent from funds advanced to subsidiary		$ 1,300		$ 1,300
[1] The Parent Company had $5.2 billion and $3.5 billion in a money market deposit account at Discover Bank as of December 31, 2024 and 2023, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2)

Parent Company Condensed Fina_4

Parent Company Condensed Financial Information (Schedule of Parent Company Condensed Statements of Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Interest income	$ 20,020	$ 17,845	$ 12,864
Interest expense	5,724	4,746	1,865
Net interest income (expense)	14,296	13,099	10,999
Other expense (income)	6,925	6,139	5,216
Income tax benefit (expense)	(1,539)	(841)	(1,325)
Net income	4,535	2,796	4,316
Other comprehensive (loss) income, net	(71)	114	(245)
Comprehensive income	4,464	2,910	4,071
Parent Company
Condensed Financial Statements, Captions [Line Items]
Interest income	293	240	98
Interest expense	280	189	189
Net interest income (expense)	13	51	(91)
Dividends from bank subsidiary	2,600	1,700	4,000
Dividends from non-bank subsidiaries	260	11	688
Other income	0	4	0
Total income	2,873	1,766	4,597
Other expense (income)	179	(2)	6
Income before income tax benefit and equity in undistributed net income of subsidiaries	2,694	1,768	4,591
Income tax benefit (expense)	19	(7)	25
Equity in undistributed net income of subsidiaries	1,822	1,035	(300)
Net income	4,535	2,796	4,316
Other comprehensive (loss) income, net	(71)	114	(245)
Comprehensive income	$ 4,464	$ 2,910	$ 4,071

Parent Company Condensed Fina_5

Parent Company Condensed Financial Information (Schedule of Parent Company Condensed Statements of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Cash flows provided by operating activities
Net income	$ 4,535		$ 2,796		$ 4,316
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	162		(671)		(452)
Depreciation and amortization	71		74		80
Net losses on investments and other assets	65		50		261
Changes in assets and liabilities:
Increase in other assets	43		(658)		(846)
Increase (decrease) in accrued expenses and other liabilities	(798)		928		1,181
Net cash provided by operating activities	8,425		8,563		7,140
Cash flows (used for) provided by investing activities
Purchases of premises and equipment	(268)		(303)		(236)
Net cash (used for) provided by investing activities	(3,751)		(21,491)		(25,637)
Cash flows (used for) provided by financing activities
Net change in short-term borrowings	(750)		750		(1,750)
Proceeds from issuance of common stock	13		12		10
Maturities and repayment of long-term borrowings	(1,777)		(2,340)		(834)
Purchases of treasury stock	(83)		(1,938)		(2,359)
Net increase in deposits	(1,995)		17,250		19,208
Dividends paid on common and preferred stock	(771)		(752)		(703)
Net cash used for financing activities	(7,903)		15,759		16,062
Increase (decrease) in cash, cash equivalents and restricted cash	(3,229)		2,831		(2,435)
Cash, cash equivalents and restricted cash, at the beginning of the period	11,728		8,897		11,332
Cash, cash equivalents and restricted cash, at the end of the period	8,499		11,728		8,897
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	8,474		11,685		8,856
Restricted cash	25		43		41
Cash paid during the period for:
Interest expense	5,690		4,508		1,666
Income taxes, net of income tax refunds	1,180		1,605		1,865
Parent Company
Cash flows provided by operating activities
Net income	4,535		2,796		4,316
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries	(1,822)		(1,035)		300
Non-cash transfer to (from) subsidiary	40		(11)		(188)
Stock-based compensation expense	85		74		89
Deferred income taxes	(12)		2		(8)
Depreciation and amortization	5		4		32
Net losses on investments and other assets	0		(4)		0
Changes in assets and liabilities:
Increase in other assets	(107)		(65)		(143)
Increase (decrease) in accrued expenses and other liabilities	136		(41)		27
Net cash provided by operating activities	2,860		1,720		4,425
Cash flows (used for) provided by investing activities
Return of capital from sale of subsidiary	0		2		0
(Increase) decrease in loans to subsidiaries	(95)
(Increase) decrease in loans to subsidiaries			(109)		982
Proceeds from sale of subsidiary	0		3		0
Purchases of premises and equipment	(1)		0		0
Net cash (used for) provided by investing activities	(96)		114		(982)
Cash flows (used for) provided by financing activities
Net change in short-term borrowings	303		275		(324)
Proceeds from issuance of common stock	13		12		10
Proceeds from issuance of long-term borrowings	0		993		740
Maturities and repayment of long-term borrowings	(502)		(15)		(834)
Purchases of treasury stock	(83)		(1,938)		(2,359)
Net increase in deposits	1		0		0
Dividends paid on common and preferred stock	(771)		(752)		(703)
Net cash used for financing activities	(1,039)		(1,425)		(3,470)
Increase (decrease) in cash, cash equivalents and restricted cash	1,725		409		(27)
Cash, cash equivalents and restricted cash, at the beginning of the period	3,584		3,175		3,202
Cash, cash equivalents and restricted cash, at the end of the period	5,309		3,584		3,175
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	5,209	[1]	3,509	[1]	3,155
Restricted cash	100		75		20
Cash paid during the period for:
Interest expense	280		175		159
Income taxes, net of income tax refunds	$ (25)		$ 22		$ (39)
[1] The Parent Company had $5.2 billion and $3.5 billion in a money market deposit account at Discover Bank as of December 31, 2024 and 2023, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2)