Discover Financial Services (DFS) 10-Q 27 Oct 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 21, 2022
Cover [Abstract]
Document type	10-Q
Document quarterly report	true
Document period end date	Sep. 30, 2022
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 current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Smaller reporting company	false
Emerging growth company	false
Entity shell company	false
Entity common stock, shares outstanding		273,225,765
Entity central index key	0001393612
Current fiscal year end date	--12-31
Document fiscal year focus	2022
Document fiscal period focus	Q3
Amendment flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 10,004	$ 8,750
Restricted cash	1,866	2,582
Investment securities (includes available-for-sale securities of $6,681 and $6,700 reported at fair value with associated amortized cost of $6,876 and $6,549 at September 30, 2022 and December 31, 2021, respectively)	6,897	6,904
Loan receivables
Loan receivables	104,908	93,684
Allowance for credit losses	(7,061)	(6,822)
Net loan receivables	97,847	86,862
Premises and equipment, net	1,015	983
Goodwill	255	255
Other assets	4,002	3,906
Total assets	121,886	110,242
Deposits
Interest-bearing deposit accounts	81,373	70,818
Non-interest bearing deposit accounts	1,524	1,575
Total deposits	82,897	72,393
Short-term borrowings	0	1,750
Long-term borrowings	20,177	18,477
Accrued expenses and other liabilities	4,526	4,214
Total liabilities	107,600	96,834
Commitments, contingencies and guarantees (Notes 9, 12 and 13)
Stockholders' Equity
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 569,637,306 and 568,830,897 shares issued at September 30, 2022 and December 31, 2021, respectively	6	6
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	1,056	1,056
Additional paid-in capital	4,444	4,369
Retained earnings	27,585	24,766
Accumulated other comprehensive loss	(353)	(94)
Treasury stock, at cost; 296,412,179 and 280,502,577 shares at September 30, 2022 and December 31, 2021, respectively	(18,452)	(16,695)
Total stockholders' equity	14,286	13,408
Total liabilities and stockholders' equity	121,886	110,242
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Restricted cash	1,866	2,582
Loan receivables
Loan receivables	24,885	25,449
Allowance for credit losses	(1,153)	(1,371)
Other assets	6	4
Deposits
Short- and long-term borrowings	11,092	9,539
Accrued expenses and other liabilities	$ 13	$ 6

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Available-for-sale investment securities, fair value	[1]	$ 6,681	$ 6,700
Available-for-sale investment securities, amortized cost	[1]	$ 6,876	$ 6,549
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		569,637,306	568,830,897
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		296,412,179	280,502,577
[1]Available-for-sale investment securities are reported at fair value.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest income
Credit card loans	$ 2,783	$ 2,193	$ 7,475	$ 6,452
Other loans	476	433	1,343	1,301
Investment securities	35	45	104	142
Other interest income	63	3	86	14
Total interest income	3,357	2,674	9,008	7,909
Interest expense
Deposits	345	156	658	519
Short-term borrowings	1	0	2	0
Long-term borrowings	168	113	416	356
Total interest expense	514	269	1,076	875
Net interest income	2,843	2,405	7,932	7,034
Provision for credit losses	773	185	1,476	(45)
Net interest income after provision for credit losses	2,070	2,220	6,456	7,079
Other income
Discount and interchange revenue, net	346	299	1,056	879
Protection products revenue	42	43	128	129
Loan fee income	168	121	450	333
Transaction processing revenue	65	58	183	167
Unrealized (losses) gains on equity investments	(37)	(167)	(394)	562
Realized gains on equity investments	33	0	186	0
Other income	19	18	64	47
Total other income	636	372	1,673	2,117
Other expense
Employee compensation and benefits	551	483	1,566	1,487
Marketing and business development	276	210	722	539
Information processing and communications	124	121	370	375
Professional fees	241	198	607	567
Premises and equipment	22	23	70	69
Other expense	174	155	406	456
Total other expense	1,388	1,190	3,741	3,493
Income before income taxes	1,318	1,402	4,388	5,703
Income tax expense	312	311	1,029	1,321
Net income	1,006	1,091	3,359	4,382
Net income allocated to common stockholders	$ 967	$ 1,055	$ 3,277	$ 4,289
Basic earnings per common share	$ 3.54	$ 3.54	$ 11.74	$ 14.17
Diluted earnings per common share	$ 3.54	$ 3.54	$ 11.73	$ 14.16

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,006	$ 1,091	$ 3,359	$ 4,382
Other comprehensive loss, net of tax
Unrealized losses on available-for-sale investment securities, net of tax	(100)	(29)	(262)	(115)
Unrealized (losses) gains on cash flow hedges, net of tax	(2)	0	3	2
Other comprehensive loss	(102)	(29)	(259)	(113)
Comprehensive income	$ 904	$ 1,062	$ 3,100	$ 4,269

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]	Series C Preferred Stock [Member]	Series C Preferred Stock [Member] Retained Earnings [Member]	Series D Preferred Stock	Series D Preferred Stock Retained Earnings [Member]
Preferred stock, shares outstanding, balance at beginning of period (in shares) at Dec. 31, 2020		11,000
Common stock, shares outstanding, balance at beginning of period (in shares) at Dec. 31, 2020			567,898,000
Stockholders' equity, balance at beginning of period at Dec. 31, 2020	$ 10,884	$ 1,056	$ 6	$ 4,257	$ 19,955	$ 45	$ (14,435)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,382				4,382
Other comprehensive loss	(113)					(113)
Purchases of treasury stock	(1,487)						(1,487)
Common stock issued under employee benefit plans (in shares)			67,000
Common stock issued under employee benefit plans	7		$ 0	7
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			796,000
Common stock issued and stock-based compensation expense	81		$ 0	81
Dividends — common stock	(422)				(422)
Dividends — preferred stock								$ (31)	$ (31)	$ (38)	$ (38)
Preferred stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2021		11,000
Common stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2021			568,761,000
Stockholders' equity, balance at end of period at Sep. 30, 2021	13,263	$ 1,056	$ 6	4,345	23,846	(68)	(15,922)
Preferred stock, shares outstanding, balance at beginning of period (in shares) at Jun. 30, 2021		11,000
Common stock, shares outstanding, balance at beginning of period (in shares) at Jun. 30, 2021			568,693,000
Stockholders' equity, balance at beginning of period at Jun. 30, 2021	13,171	$ 1,056	$ 6	4,319	22,936	(39)	(15,107)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,091				1,091
Other comprehensive loss	(29)					(29)
Purchases of treasury stock	(815)						(815)
Common stock issued under employee benefit plans (in shares)			21,000
Common stock issued under employee benefit plans	2		$ 0	2
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			47,000
Common stock issued and stock-based compensation expense	24		$ 0	24
Dividends — common stock	(151)				(151)
Dividends — preferred stock								(15)	(15)	(15)	(15)
Preferred stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2021		11,000
Common stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2021			568,761,000
Stockholders' equity, balance at end of period at Sep. 30, 2021	$ 13,263	$ 1,056	$ 6	4,345	23,846	(68)	(15,922)
Preferred stock, shares outstanding, balance at beginning of period (in shares) at Dec. 31, 2021	10,700	11,000
Common stock, shares outstanding, balance at beginning of period (in shares) at Dec. 31, 2021			568,831,000
Stockholders' equity, balance at beginning of period at Dec. 31, 2021	$ 13,408	$ 1,056	$ 6	4,369	24,766	(94)	(16,695)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,359				3,359
Other comprehensive loss	(259)					(259)
Purchases of treasury stock	(1,757)						(1,757)
Common stock issued under employee benefit plans (in shares)			80,000
Common stock issued under employee benefit plans	7		$ 0	7
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			726,000
Common stock issued and stock-based compensation expense	68		$ 0	68
Dividends — common stock	$ (478)				(478)
Dividends — preferred stock								(31)	(31)	(31)	(31)
Preferred stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2022	10,700	11,000
Common stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2022			569,637,000
Stockholders' equity, balance at end of period at Sep. 30, 2022	$ 14,286	$ 1,056	$ 6	4,444	27,585	(353)	(18,452)
Preferred stock, shares outstanding, balance at beginning of period (in shares) at Jun. 30, 2022		11,000
Common stock, shares outstanding, balance at beginning of period (in shares) at Jun. 30, 2022			569,564,000
Stockholders' equity, balance at beginning of period at Jun. 30, 2022	13,764	$ 1,056	$ 6	4,417	26,776	(251)	(18,240)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,006				1,006
Other comprehensive loss	(102)					(102)
Purchases of treasury stock	(212)						(212)
Common stock issued under employee benefit plans (in shares)			31,000
Common stock issued under employee benefit plans	2		$ 0	2
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			42,000
Common stock issued and stock-based compensation expense	25		$ 0	25
Dividends — common stock	$ (166)				(166)
Dividends — preferred stock								$ (15)	$ (15)	$ (16)	$ (16)
Preferred stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2022	10,700	11,000
Common stock, shares outstanding, balance at end of period (in shares) at Sep. 30, 2022			569,637,000
Stockholders' equity, balance at end of period at Sep. 30, 2022	$ 14,286	$ 1,056	$ 6	$ 4,444	$ 27,585	$ (353)	$ (18,452)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Dividends declared, common stock (dollars per share)	$ 0.60	$ 0.50	$ 1.70	$ 1.38
Series C Preferred Stock [Member]
Dividends declared, preferred stock (dollars per share)	2,750	$ 2,750	5,500	5,500
Series D Preferred Stock
Dividends declared, preferred stock (dollars per share)	$ 3,062.5		$ 6,125	$ 7,674

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows provided by operating activities
Net income	$ 3,359	$ 4,382
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	1,476	(45)
Deferred income taxes	(314)	388
Depreciation and amortization	424	387
Amortization of deferred revenues	(261)	(217)
Net unrealized and realized losses (gains) on investments and other assets	246	(531)
Other, net	73	227
Changes in assets and liabilities:
Increase in other assets	(350)	(273)
Increase in accrued expenses and other liabilities	312	359
Net cash provided by operating activities	4,965	4,677
Cash flows provided by investing activities
Maturities of other short-term investments	0	2,200
Maturities of available-for-sale investment securities	1,677	1,709
Purchases of available-for-sale investment securities	(2,001)	(9)
Maturities of held-to-maturity investment securities	26	63
Purchases of held-to-maturity investment securities	(40)	(28)
Net change in principal on loans originated for investment	(12,297)	(255)
Proceeds from the sale of available-for-sale securities	0	5
Proceeds from the sale of other investments	325	0
Purchases of other investments	(135)	(108)
Purchases of premises and equipment	(178)	(146)
Net cash (used for) provided by investing activities	(12,623)	3,431
Cash flows used for by financing activities
Net change in short-term borrowings	(1,750)	0
Net change in deposits	10,482	(4,359)
Proceeds from issuance of securitized debt	4,626	1,731
Maturities and repayment of securitized debt	(2,566)	(3,445)
Maturities and repayment of other long-term borrowings	(322)	(922)
Proceeds from issuance of common stock	7	7
Purchases of treasury stock	(1,757)	(1,487)
Dividends paid on common and preferred stock	(524)	(474)
Net cash provided by (used for) financing activities	8,196	(8,949)
Net increase (decrease) in cash, cash equivalents and restricted cash	538	(841)
Cash, cash equivalents and restricted cash, at the beginning of the period	11,332	13,589
Cash, cash equivalents and restricted cash, at the end of the period	11,870	12,748
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	10,004	12,716
Restricted cash	$ 1,866	$ 32

Background and Basis of Present

Background and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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, private student 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 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 16: Segment Disclosures for a detailed description of each segment's operations and the allocation conventions used in business segment reporting. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, the financial statements reflect all adjustments necessary for the fair presentation of results for the interim period. All such adjustments are of a normal, recurring nature. The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the condensed consolidated financial statements. The Company believes that the estimates used in the preparation of the condensed consolidated financial statements are reasonable. Actual results could differ from these estimates. These interim condensed consolidated financial statements should be read in conjunction with the Company's 2021 audited consolidated financial statements filed with the Company's annual report on Form 10-K for the year ended December 31, 2021. Recently Issued Accounting Pronouncements (Not Yet Adopted) In March 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU eliminates the troubled debt restructuring ("TDR") recognition and measurement guidance and enhances disclosures for modifications of receivables to borrowers experiencing financial difficulty. ASU 2022-02 no longer requires the application of a discounted cash flow method for any modified receivables when measuring expected credit losses. The ASU also refines existing credit-related disclosures by requiring disclosure of current-period gross charge-offs of receivables by year of origination. The amendments in the ASU are to be applied prospectively to modifications and disclosures of gross charge-offs; however, adoption on a modified retrospective basis is permitted for the effect on the allowance for credit losses related to the elimination of the TDR recognition and measurement guidance. The ASU is effective for the Company on January 1, 2023. Management does not expect the amendments to have a material impact on the Company's financial statements.

Investments

Investments	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The Company's investment securities consist of the following (dollars in millions): September 30, December 31, U.S. Treasury (1) and U.S. GSE (2) securities $ 6,092 $ 6,514 Residential mortgage-backed securities - Agency (2) 805 390 Total investment securities $ 6,897 $ 6,904 (1) Includes $35 million and $27 million of U.S. Treasury securities pledged as swap collateral as of September 30, 2022 and December 31, 2021, respectively. (2) Consists of securities issued by Fannie Mae, Freddie Mac, Ginnie Mae, or the Federal Home Loan Bank. 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 September 30, 2022 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 6,258 $ — $ (166) $ 6,092 Residential mortgage-backed securities - Agency 618 — (29) 589 Total available-for-sale investment securities $ 6,876 $ — $ (195) $ 6,681 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 216 $ — $ (25) $ 191 Total held-to-maturity investment securities $ 216 $ — $ (25) $ 191 At December 31, 2021 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 6,368 $ 146 $ — $ 6,514 Residential mortgage-backed securities - Agency 181 5 — 186 Total available-for-sale investment securities $ 6,549 $ 151 $ — $ 6,700 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 204 $ 3 $ (1) $ 206 Total held-to-maturity investment securities $ 204 $ 3 $ (1) $ 206 (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 invests in U.S. Treasury obligations and securities issued by government agencies and government-sponsored enterprises of the U.S. ("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 did not have the intent to sell any available-for-sale securities with an unrealized loss position and did 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): Number of Securities in a Loss Position Less than 12 months More than 12 months Fair Unrealized Fair Unrealized At September 30, 2022 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 54 $ 5,863 $ (163) $ 106 $ (3) Residential mortgage-backed securities - Agency 28 $ 584 $ (28) $ 5 $ (1) At December 31, 2021 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 2 $ 110 NM $ — $ — Residential mortgage-backed securities - Agency 1 $ 7 NM $ — $ — There were no proceeds from sales or recognized gains or losses on available-for-sale securities during the three and nine months ended September 30, 2022. During the three and nine months ended September 30, 2021, the Company received $5 million of proceeds from the sale of available-for-sale securities. As a result of the sale, the Company recognized an immaterial gain during the three and nine months ended September 30, 2021. See Note 8: Accumulated Other Comprehensive Income for unrealized gains and losses on available-for-sale securities during the three and nine months ended September 30, 2022 and 2021. Maturities of available-for-sale debt securities and held-to-maturity debt securities are provided in the following table (dollars in millions): At September 30, 2022 One Year After One After Five After Ten Total Available-for-Sale Investment Securities — Amortized Cost U.S. Treasury and U.S. GSE securities $ 1,724 $ 4,534 $ — $ — $ 6,258 Residential mortgage-backed securities - Agency (1) 2 78 45 493 618 Total available-for-sale investment securities $ 1,726 $ 4,612 $ 45 $ 493 $ 6,876 Held-to-Maturity Investment Securities — Amortized Cost Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 216 $ 216 Total held-to-maturity investment securities $ — $ — $ — $ 216 $ 216 Available-for-Sale Investment Securities — Fair Values U.S. Treasury and U.S. GSE securities $ 1,709 $ 4,383 $ — $ — $ 6,092 Residential mortgage-backed securities - Agency (1) 2 75 43 469 589 Total available-for-sale investment securities $ 1,711 $ 4,458 $ 43 $ 469 $ 6,681 Held-to-Maturity Investment Securities — Fair Values Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 191 $ 191 Total held-to-maturity investment securities $ — $ — $ — $ 191 $ 191 (1) Maturities of RMBS are reflective of the contractual maturities of the investment. 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 accounted for using the equity method of accounting and are recorded within other assets. The related commitment for future investments is recorded in accrued expenses and other liabilities within the condensed consolidated statements of financial condition. The portion of each investment's operating results allocable to the Company reduces the carrying value of the investments and is recorded in other expense within the condensed consolidated statements of income. The Company further reduces the carrying value of the investments by recognizing any amounts that are in excess of future net tax benefits in other expense. The Company earns a return primarily through tax credits allocated to the affordable housing projects and the community revitalization projects. The Company does not consolidate these investments as the Company does not have a controlling financial interest in the investee entities. As of September 30, 2022 and December 31, 2021, the Company had outstanding investments in these entities of $382 million and $388 million, respectively, and related contingent liabilities for unconditional and legally binding delayed equity contributions of $82 million and $92 million, respectively. Of the above outstanding equity investments, the Company had $353 million and $350 million of investments related to affordable housing projects as of September 30, 2022 and December 31, 2021, respectively, which had $82 million and $80 million of related contingent liabilities for unconditional and legally binding delayed equity contributions, respectively. The Company holds non-controlling equity positions in several payment services entities. Most of these investments are not subject to equity method accounting because the Company does not have significant influence over the investee. The common or preferred equity securities that the Company holds typically do not have readily determinable fair values. As a result, the majority of these investments are carried at cost minus impairment, if any. As of September 30, 2022 and December 31, 2021, the carrying value of these investments, which are recorded within other assets on the Company's condensed consolidated statements of financial condition, was $39 million and $36 million, respectively. The Company also holds non-controlling equity positions in payment service entities that have publicly traded stock and therefore have readily determinable fair values. As a result, these investments are carried at fair value based on the quoted share prices. As of September 30, 2022 and December 31, 2021, the carrying value of these investments, which are recorded within other assets on the Company's condensed consolidated statements of financial condition, was $58 million and $461 million, respectively. During the three and nine months ended September 30, 2022, the Company recognized unrealized losses of $37 million and $394 million, respectively, and realized gains of approximately $32 million and $182 million, respectively, on the condensed consolidated statements of income related to these investments. The Company recognized unrealized losses of approximately $167 million and unrealized gains of approximately $562 million during the three and nine months ended September 30, 2021, respectively, related to these investments.

Loan Receivables

Loan Receivables	9 Months Ended
	Sep. 30, 2022
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): September 30, December 31, Credit card loans (1)(2) $ 83,630 $ 74,369 Other loans (3) Private student loans (4) 10,349 10,113 Personal loans 7,674 6,936 Other loans 3,255 2,266 Total other loans 21,278 19,315 Total loan receivables 104,908 93,684 Allowance for credit losses (7,061) (6,822) Net loan receivables $ 97,847 $ 86,862 (1) Amounts include carrying values of $14.4 billion and $13.3 billion underlying investors' interest in trust debt at September 30, 2022 and December 31, 2021, respectively, and $10.3 billion and $11.9 billion in seller's interest at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student 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 condensed consolidated statements of financial condition, was $507 million and $423 million at September 30, 2022 and December 31, 2021, respectively. (3) Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $504 million, $43 million and $9 million, respectively, at September 30, 2022 and $443 million, $42 million and $6 million, respectively, at December 31, 2021. (4) Amounts include carrying values of $182 million and $207 million in loans pledged as collateral against the note issued from a private student loan securitization trust at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information. 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, private student and personal 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, private student and personal loan receivables (dollars in millions): Credit Risk Profile by FICO Score September 30, 2022 December 31, 2021 660 and Above Less than 660 660 and Above Less than 660 $ % $ % $ % $ % Credit card loans (1) $ 68,999 83 % $ 14,631 17 % $ 62,262 84 % $ 12,107 16 % Private student loans by origination year (2)(3) 2022 $ 949 93 % $ 69 7 % 2021 1,699 96 % 79 4 % $ 1,251 94 % $ 73 6 % 2020 1,402 96 % 61 4 % 1,561 96 % 59 4 % 2019 1,254 95 % 62 5 % 1,439 96 % 61 4 % 2018 973 94 % 59 6 % 1,147 95 % 59 5 % Prior 3,521 94 % 221 6 % 4,215 94 % 248 6 % Total private student loans $ 9,798 95 % $ 551 5 % $ 9,613 95 % $ 500 5 % Personal loans by origination year 2022 $ 3,371 99 % $ 38 1 % 2021 2,238 97 % 80 3 % $ 3,326 99 % $ 37 1 % 2020 942 96 % 39 4 % 1,622 98 % 39 2 % 2019 550 93 % 43 7 % 1,052 94 % 62 6 % 2018 210 89 % 27 11 % 435 91 % 44 9 % Prior 113 83 % 23 17 % 276 87 % 43 13 % Total personal loans $ 7,424 97 % $ 250 3 % $ 6,711 97 % $ 225 3 % (1) Amounts include $663 million and $813 million of revolving line-of-credit arrangements that were converted to term loans as a result of a troubled debt restructuring ("TDR") program as of September 30, 2022 and December 31, 2021, respectively. (2) A majority of private student loan originations occur in the third quarter and disbursements can span multiple calendar years. (3) FICO score represents the higher credit score of the cosigner or borrower. 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, private student and personal loan receivables (dollars in millions): September 30, 2022 December 31, 2021 30-89 Days 90 or Total Past 30-89 Days 90 or Total Past Credit card loans $ 991 $ 770 $ 1,761 $ 670 $ 562 $ 1,232 Private student loans by origination year (1) 2022 $ — $ — $ — 2021 6 — 6 $ — $ — $ — 2020 14 2 16 4 1 5 2019 19 5 24 9 2 11 2018 20 7 27 14 4 18 Prior 99 29 128 94 29 123 Total private student loans $ 158 $ 43 $ 201 $ 121 $ 36 $ 157 Personal loans by origination year 2022 $ 5 $ 1 $ 6 2021 12 4 16 $ 5 $ 1 $ 6 2020 7 3 10 7 2 9 2019 8 3 11 11 4 15 2018 4 2 6 6 3 9 Prior 3 1 4 6 3 9 Total personal loans $ 39 $ 14 $ 53 $ 35 $ 13 $ 48 (1) Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency. Allowance for Credit Losses The following tables provide changes in the Company's allowance for credit losses (dollars in millions): For the Three Months Ended September 30, 2022 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at June 30, 2022 $ 5,307 $ 832 $ 572 $ 46 $ 6,757 Additions Provision for credit losses (1) 649 20 69 5 743 Deductions Charge-offs (592) (29) (38) — (659) Recoveries 197 6 17 — 220 Net charge-offs (395) (23) (21) — (439) Balance at September 30, 2022 $ 5,561 $ 829 $ 620 $ 51 $ 7,061 For the Three Months Ended September 30, 2021 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at June 30, 2021 $ 5,409 $ 828 $ 745 $ 44 $ 7,026 Additions Provision for credit losses (1) 178 46 (64) — 160 Deductions Charge-offs (495) (23) (38) — (556) Recoveries 206 6 19 — 231 Net charge-offs (289) (17) (19) — (325) Balance at September 30, 2021 $ 5,298 $ 857 $ 662 $ 44 $ 6,861 For the Nine Months Ended September 30, 2022 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 Additions Provision for credit losses (1) 1,395 54 19 7 1,475 Deductions Charge-offs (1,720) (86) (115) — (1,921) Recoveries 613 18 54 — 685 Net charge-offs (1,107) (68) (61) — (1,236) Balance at September 30, 2022 $ 5,561 $ 829 $ 620 $ 51 $ 7,061 For the Nine Months Ended September 30, 2021 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at December 31, 2020 6,491 840 857 38 8,226 Additions Provision for credit losses (1) (18) 61 (96) 6 (47) Deductions Charge-offs (1,778) (63) (150) — (1,991) Recoveries 603 19 51 — 673 Net charge-offs (1,175) (44) (99) — (1,318) Balance at September 30, 2021 $ 5,298 $ 857 $ 662 $ 44 $ 6,861 (1) Excludes a $30 million and $25 million adjustment of the liability for expected credit losses on unfunded commitments for the three months ended September 30, 2022 and 2021, respectively, and $1 million and $2 million for the nine months ended September 30, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company's condensed consolidated statements of financial condition. The allowance for credit losses was approximately $7.1 billion at September 30, 2022, which reflects a $304 million build over June 30, 2022 and a $239 million build from December 31, 2021. The build in the allowance for credit losses for the three and nine months ended September 30, 2022 was primarily driven by continued loan growth. 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 September 30, 2022, the Company used a macroeconomic forecast that projected (i) an unemployment rate of 4.2% at the end of 2022, peaking at 4.6% during 2023 and finishing the year at 4.5%; and (ii) 0.2% annualized decline in the real gross domestic product for 2022 and 1.8% annualized growth in the real gross domestic product for 2023. In estimating expected credit losses, the Company considered the uncertainties associated with borrower behavior and payment trends, as well as higher consumer price inflation experienced during 2022 and the fiscal and monetary policy responses to that inflation. During 2022, the Federal Reserve raised its federal funds rate target range multiple times and signaled additional rate hikes throughout the remainder of the year. In recognition of the risks related to the macroeconomic environment, the estimation of the allowance for credit losses has required significant management judgment. The forecast period the Company deemed to be reasonable and supportable was 18 months for all periods presented. The 18-month 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 increase in net charge-offs for credit card, private student loans and personal loans for the three months ended September 30, 2022, when compared to the same period in 2021, was primarily due to credit normalization. The net charge-offs for credit card and personal loans decreased for the nine months ended September 30, 2022, when compared to the same period in 2021. The decrease in net charge-offs for credit card was primarily driven by lower average balances at charge off. The decrease in net charge-offs for personal loans was primarily driven by continued benefit from tighter credit underwriting standards implemented in 2020. The increase in net charge-offs for private student loans for the nine months ended September 30, 2022, when compared to the same period in 2021, was primarily driven by credit normalization and the diminishing benefit from pandemic programs. 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): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Interest and fees accrued subsequently charged-off, net of recoveries (recorded as a reduction of interest income) $ 74 $ 57 $ 209 $ 232 Fees accrued subsequently charged-off, net of recoveries (recorded as a reduction to other income) $ 24 $ 15 $ 68 $ 59 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): 30-89 Days 90 or Total Past 90 or Total Non-accruing (1) At September 30, 2022 Credit card loans $ 991 $ 770 $ 1,761 $ 741 $ 188 Other loans Private student loans 158 43 201 42 8 Personal loans 39 14 53 13 7 Other loans 9 10 19 1 21 Total other loans 206 67 273 56 36 Total loan receivables $ 1,197 $ 837 $ 2,034 $ 797 $ 224 At December 31, 2021 Credit card loans $ 670 $ 562 $ 1,232 $ 527 $ 194 Other loans Private student loans 121 36 157 35 8 Personal loans 35 13 48 12 7 Other loans 7 7 14 1 16 Total other loans 163 56 219 48 31 Total loan receivables $ 833 $ 618 $ 1,451 $ 575 $ 225 (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 $6 million for the three months ended September 30, 2022 and 2021, and $17 million and $21 million for the nine months ended September 30, 2022 and 2021, 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. The payment status of modified loans, including those identified as TDRs and those exempt from the TDR designation pursuant to the CARES Act, is reflected in the Company’s delinquency reporting. Troubled Debt Restructurings The Company has internal loan modification programs that provide relief to credit card, private student and personal loan borrowers who may be experiencing financial hardship. The Company considers a modified loan in which a concession has been granted to the borrower to be a TDR based on the cumulative length of the concession period and credit quality of the borrower. The internal loan modification programs include both temporary and permanent programs, which vary by product. External loan modification programs are also available for credit card and personal loans. The Company evaluates new programs to determine which of them meet the definition of a TDR. Temporary and permanent modifications on credit card and personal loans, as well as temporary modifications on private student loans and certain grants of private student loan forbearance, generally result in the loans being classified as TDRs. In addition, loans that defaulted from, or successfully completed a loan modification program or forbearance, continue to be classified as TDRs, except as noted in the following paragraph. See the table below that presents the carrying value of loans that entered a TDR program and experienced a default during the period for more information. For credit card customers, the Company offers both temporary and permanent hardship programs. The temporary hardship programs consist of an interest rate reduction and, in some cases, a reduced minimum payment, both 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. Credit card accounts of borrowers who have previously participated in a temporary interest rate reduction program and that have both demonstrated financial stability and had their charging privileges reinstated at a market-based interest rate, are excluded from the balance of TDRs. 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, generally reflect fixed payment terms and do not normally include waiver of unpaid principal, interest or fees. These permanent loan modifications remain in the population of TDRs until they are paid off or charged off. At September 30, 2022 and December 31, 2021, there were $5.5 billion and $5.8 billion, respectively, of private student loans in repayment and $76 million and $64 million, respectively, in forbearance. To assist private student loan borrowers who are experiencing temporary financial difficulties but are willing to resume making payments, the Company may offer hardship forbearance, payment deferral, a temporary payment reduction, a temporary interest rate reduction or extended terms. A modified loan typically meets the definition of a TDR based on the cumulative length of the concession period and a determination of financial distress based on an evaluation of the borrower's credit quality using FICO scores. 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. Personal loans included in temporary and permanent programs are classified as TDRs. The Company monitors borrower performance after using payment programs or forbearance. 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 and forbearance to provide relief to customers experiencing temporary financial difficulties and expects to have additional loans classified as TDRs in the future as a result. To evaluate the primary financial effects that resulted from credit card loans entering into a TDR program during the three and nine months ended September 30, 2022 and 2021, the Company quantified the amount by which interest and fees were reduced during the periods. During the three months ended September 30, 2022 and 2021, the Company forgave approximately $7 million of interest and fees resulting from accounts entering into a credit card loan TDR program. During the nine months ended September 30, 2022 and 2021, the Company forgave approximately $20 million and $28 million, respectively, of interest and fees resulting from accounts entering into a credit card loan TDR program. For all loan products, interest income on modified loans is recognized based on the modified contractual terms. The following table provides information on loans that entered a TDR program during the period (dollars in millions): For the Three Months Ended September 30, 2022 2021 Number of Accounts Balances Number of Accounts Balances Accounts that entered a TDR program during the period Credit card loans (1) 63,803 $ 414 13,964 $ 86 Private student loans 1,863 $ 36 102 $ 2 Personal loans 1,799 $ 25 888 $ 10 For the Nine Months Ended September 30, 2022 2021 Number of Accounts Balances Number of Accounts Balances Accounts that entered a TDR program during the period Credit card loans (1) 167,655 $ 1,071 48,887 $ 315 Private student loans 5,141 $ 96 355 $ 7 Personal loans 4,561 $ 62 3,102 $ 38 (1) Accounts that entered a credit card TDR program include $80 million and $72 million that were converted from revolving line-of-credit arrangements to term loans during the three months ended September 30, 2022 and 2021, respectively, and $225 million and $288 million for the nine months ended September 30, 2022 and 2021, respectively. The number and balance of enrollments in credit card, private student loan and personal loan modification programs designated as TDRs increased during the three and nine months ended September 30, 2022, when compared to the same periods in 2021. The increase is primarily due to the expiration of the CARES Act exemption for new modifications effective January 1, 2022. The following table presents the carrying value of loans that experienced a default during the period that had been modified in a TDR during the 15 months preceding the end of each period (dollars in millions): For the Three Months Ended September 30, 2022 2021 Number of Accounts Aggregated Outstanding Balances Upon Default Number of Accounts Aggregated Outstanding Balances Upon Default TDRs that subsequently defaulted Credit card loans (1)(2) 7,784 $ 38 3,679 $ 21 Private student loans (3) 391 $ 7 83 $ 2 Personal loans (2) 606 $ 9 399 $ 6 For the Nine Months Ended September 30, 2022 2021 Number of Accounts Aggregated Outstanding Balances Upon Default Number of Accounts Aggregated Outstanding Balances Upon Default TDRs that subsequently defaulted Credit card loans (1)(2) 18,022 $ 89 14,205 $ 84 Private student loans (3) 658 $ 12 214 $ 5 Personal loans (2) 1,142 $ 16 1,287 $ 18 (1) For credit card loans that default from a temporary loan modification program, accounts revert back to the pre-modification terms and charging privileges remain suspended in most cases. (2) For credit card loans and personal loans, a customer defaults from a loan modification program after either two consecutive missed payments or at charge-off, depending on the program. The outstanding balance upon default is generally the loan balance at the end of the month prior to default. (3) For student loans, a customer defaults from a loan modification after they are 60 or more days delinquent. The outstanding balance upon default is generally the loan balance at the end of the month prior to default.

Credit Card and Private Student

Credit Card and Private Student Loan Securitization Activities	9 Months Ended
	Sep. 30, 2022
Variable Interest Entities Disclosure [Abstract]
Credit Card and Private Student Loan Securitization Activities	Credit Card and Private Student 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 to the consolidated financial statements in the Company's annual report on Form 10-K for the year ended December 31, 2021. Credit Card Securitization Activities The Company accesses the term asset securitization market through the Discover Card Master Trust I ("DCMT") and the Discover Card Execution Note Trust ("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 current expected credit loss ("CECL") 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 condensed 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 condensed 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 condensed consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): September 30, December 31, Restricted cash $ 1,858 $ 2,574 Investors' interests held by third-party investors 11,025 9,425 Investors' interests held by wholly owned subsidiaries of Discover Bank 3,333 3,899 Seller's interest 10,345 11,918 Loan receivables (1) 24,703 25,242 Allowance for credit losses allocated to securitized loan receivables (1) (1,153) (1,371) Net loan receivables 23,550 23,871 Other assets 5 3 Carrying value of assets of consolidated variable interest entities $ 25,413 $ 26,448 (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 September 30, 2022, 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. Private Student Loan Securitization Activities Private student loan trust receivables are reported in loan receivables and the related debt issued by the trust is reported in long-term borrowings. The trust assets are restricted from being sold or pledged as collateral for other borrowings and the cash flows from these restricted assets may be used only to pay obligations of the trusts. Except for the trust's restricted assets, the trust and investors have no recourse to the Company's other assets or the Company's general credit for a shortage in cash flows. Principal payments on the long-term secured borrowings are made as cash is collected on the underlying loans that are collateral on the secured borrowings. The Company does not have access to cash collected by the securitization trust until cash is released in accordance with the trust indenture agreement. Similar to the credit card securitizations, the Company continues to own and service the private student loan receivables held by the trust and receives servicing fees from the trust based on a percentage of the principal balance outstanding. Although the servicing fee income offsets the fee expense related to the trust 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. Under terms of the trust arrangement, the Company has the option, but not the obligation, to provide financial support to the trust, but has never provided such support. A substantial portion of the credit risk associated with the securitized loans has been transferred to a third party under an indemnification arrangement. The carrying values of these restricted assets, which are presented on the Company's condensed consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): September 30, December 31, Restricted cash $ 8 $ 8 Private student loan receivables 182 207 Carrying value of assets of consolidated variable interest entities $ 190 $ 215

Deposits

Deposits	9 Months Ended
	Sep. 30, 2022
Deposits [Abstract]
Deposits	Deposits The Company offers its deposit products to customers through two channels: (i) direct marketing, internet origination and affinity relationships ("direct-to-consumer deposits"); and (ii) contractual arrangements with securities brokerage firms ("brokered deposits"). Direct-to-consumer deposits include online savings accounts, certificates of deposit, money market accounts, IRA savings accounts, IRA certificates of deposit and checking/debit accounts. Brokered deposits include certificates of deposit and sweep accounts. The following table summarizes certificates of deposits maturing over the remainder of this year, over each of the next four years and thereafter (dollars in millions): At September 30, 2022 2022 $ 4,136 2023 12,675 2024 4,820 2025 1,935 2026 1,223 Thereafter 2,204 Total $ 26,993

Long-Term Borrowings

Long-Term Borrowings	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Maturity Interest Weighted-Average Interest Rate Outstanding Amount Outstanding Amount Securitized Debt Fixed-rate asset-backed securities (1) 2022-2026 0.58% - 3.56% 2.41% $ 8,405 $ 5,588 Floating-rate asset-backed securities (2) 2022-2024 3.15% - 3.42% 3.26% 2,599 3,347 Total Discover Card Master Trust I and Discover Card Execution Note Trust 11,004 8,935 Floating-rate asset-backed security (3)(4) 2031 7.25% 7.25% 88 104 Total private student loan securitization trust 88 104 Total long-term borrowings - owed to securitization investors 11,092 9,039 Discover Financial Services (Parent Company) Fixed-rate senior notes 2022-2027 3.75% - 4.50% 4.06% 3,088 3,382 Fixed-rate retail notes 2022-2031 2.85% - 4.40% 3.75% 166 166 Discover Bank Fixed-rate senior bank notes (1) 2023-2030 2.45% - 4.65% 3.63% 5,344 5,385 Fixed-rate subordinated bank notes (1) 2028 4.68% 4.68% 487 505 Total long-term borrowings $ 20,177 $ 18,477 (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 London Interbank Offered Rate ("LIBOR") or Overnight Index Swap ("OIS") rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 15: Derivatives and Hedging Activities. (2) DCENT floating-rate asset-backed securities include issuances with the following interest rate terms: 1-month LIBOR + 33 to 60 basis points as of September 30, 2022. (3) The private student loan securitization trust floating-rate asset-backed security includes an issuance with the following interest rate term: Prime rate + 100 basis points as of September 30, 2022. (4) Repayment of this debt is dependent upon the timing of principal and interest payments on the underlying private student loans. The date shown represents the final maturity date. The following table summarizes long-term borrowings maturing over the remainder of this year, over each of the next four years and thereafter (dollars in millions): September 30, 2022 2022 $ 2,331 2023 3,283 2024 3,729 2025 5,167 2026 2,658 Thereafter 3,009 Total $ 20,177 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. At September 30, 2022, the Company had total committed borrowing capacity of $2.1 billion based on the amount and type of assets pledged, none of which was drawn. At December 31, 2021, the Company had total committed borrowing capacity of $1.4 billion based on the amount and type of assets pledged, of which $1.3 billion of short-term advances were outstanding. Additionally, the Company has access to committed borrowing capacity through private securitizations to support the funding of its credit card loan receivables. As of September 30, 2022, the total commitment of secured credit facilities

Preferred Stock (Notes)

Preferred Stock (Notes)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Preferred Stock	Preferred Stock The table below presents a summary of the Company's non-cumulative perpetual preferred stock that is outstanding at September 30, 2022 (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 September 30, 2022 Total Depositary Shares Authorized, Issued and Outstanding Carrying Value September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 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 5.50% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month LIBOR plus a spread of 3.076% 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 five 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	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Changes in each component of accumulated other comprehensive income ("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 Three Months Ended September 30, 2022 Balance at June 30, 2022 $ (48) $ (4) $ (199) $ (251) Net change (100) (2) — (102) Balance at September 30, 2022 $ (148) $ (6) $ (199) $ (353) For the Three Months Ended September 30, 2021 Balance at June 30, 2021 $ 198 $ (10) $ (227) $ (39) Net change (29) — — (29) Balance at September 30, 2021 $ 169 $ (10) $ (227) $ (68) For the Nine Months Ended September 30, 2022 Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94) Net change (262) 3 — (259) Balance at September 30, 2022 $ (148) $ (6) $ (199) $ (353) For the Nine Months Ended September 30, 2021 Balance at December 31, 2020 $ 284 $ (12) $ (227) $ 45 Net change (115) 2 — (113) Balance at September 30, 2021 $ 169 $ (10) $ (227) $ (68) The following table presents each component of other comprehensive income ("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 Three Months Ended September 30, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (133) $ 33 $ (100) Net change $ (133) $ 33 $ (100) Cash Flow Hedges Net unrealized losses arising during the period $ (4) $ 1 $ (3) Amounts reclassified from AOCI 2 (1) 1 Net change $ (2) $ — $ (2) For the Three Months Ended September 30, 2021 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (38) $ 9 $ (29) Net change $ (38) $ 9 $ (29) Cash Flow Hedges Net unrealized gains arising during the period $ — $ 1 $ 1 Amounts reclassified from AOCI $ — $ (1) $ (1) Net change $ — $ — $ — For the Nine Months Ended September 30, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (346) $ 84 $ (262) Net change $ (346) $ 84 $ (262) Cash Flow Hedges Net unrealized losses arising during the period $ (2) $ — $ (2) Amounts reclassified from AOCI 4 1 5 Net change $ 2 $ 1 $ 3 For the Nine Months Ended September 30, 2021 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (152) $ 37 $ (115) Net change $ (152) $ 37 $ (115) Cash Flow Hedges Net unrealized gains arising during the period $ — $ 1 $ 1 Amounts reclassified from AOCI $ 2 $ (1) $ 1 Net change $ 2 $ — $ 2

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents the calculation of the Company's effective income tax rate (dollars in millions): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Income before income taxes $ 1,318 $ 1,402 $ 4,388 $ 5,703 Income tax expense $ 312 $ 311 $ 1,029 $ 1,321 Effective income tax rate 23.6 % 22.2 % 23.4 % 23.2 % Income tax expense was flat for the three months ended September 30, 2022, as compared to the same period in 2021. Income tax expense decreased $292 million for the nine months ended September 30, 2022, as compared to the same period in 2021, primarily due to a decrease in pretax income. The effective tax rate increased for the three and nine months ended September 30, 2022, as compared to the same periods in 2021, primarily due to a settlement with tax authorities in the prior periods. The Company is subject to examination by the Internal Revenue Service ("IRS") and tax authorities in various state, local and foreign tax jurisdictions. The IRS is examining the Company's 2018 federal income tax filing. 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.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table presents the calculation of basic and diluted earnings per share ("EPS") (dollars and shares in millions, except per share amounts): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Numerator Net income $ 1,006 $ 1,091 $ 3,359 $ 4,382 Preferred stock dividends (31) (30) (62) (69) Net income available to common stockholders 975 1,061 3,297 4,313 Income allocated to participating securities (8) (6) (20) (24) Net income allocated to common stockholders $ 967 $ 1,055 $ 3,277 $ 4,289 Denominator Weighted-average shares of common stock outstanding 273 298 279 303 Effect of dilutive common stock equivalents 1 — — — Weighted-average shares of common stock outstanding and common stock equivalents 274 298 279 303 Basic earnings per common share $ 3.54 $ 3.54 $ 11.74 $ 14.17 Diluted earnings per common share $ 3.54 $ 3.54 $ 11.73 $ 14.16 Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the three or nine months ended September 30, 2022 and 2021.

Capital Adequacy

Capital Adequacy	9 Months Ended
	Sep. 30, 2022
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 Federal Deposit Insurance Corporation ("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. On March 27, 2020, federal bank regulatory agencies announced an interim and now final rule that allows banks that have implemented the CECL accounting model to delay the estimated impact of CECL on regulatory capital for two years, followed by a three-year transition period. For purposes of calculating regulatory capital, the Company has elected to defer recognition of the estimated impact of CECL on regulatory capital for two years in accordance with the final rule; after that period of deferral, which ended December 31, 2021, the estimated impact of CECL on regulatory capital will be phased in over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 ("CET1") capital ratios in 2020, 2021 and 2022 are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period. As of September 30, 2022 and December 31, 2021, 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) September 30, 2022 Total capital (to risk-weighted assets) Discover Financial Services $ 17,867 16.7 % $ 8,573 ≥8.0% $ 10,716 ≥10.0% Discover Bank $ 15,569 14.7 % $ 8,484 ≥8.0% $ 10,605 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,994 14.9 % $ 6,430 ≥6.0% $ 6,430 ≥6.0% Discover Bank $ 13,510 12.7 % $ 6,363 ≥6.0% $ 8,484 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,994 13.4 % $ 4,782 ≥4.0% N/A N/A Discover Bank $ 13,510 11.4 % $ 4,737 ≥4.0% $ 5,922 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,938 13.9 % $ 4,822 ≥4.5% N/A N/A Discover Bank $ 13,510 12.7 % $ 4,772 ≥4.5% $ 6,893 ≥6.5% December 31, 2021 Total capital (to risk-weighted assets) Discover Financial Services $ 17,150 17.6 % $ 7,775 ≥8.0% $ 9,719 ≥10.0% Discover Bank $ 15,957 16.9 % $ 7,573 ≥8.0% $ 9,466 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,395 15.8 % $ 5,831 ≥6.0% $ 5,831 ≥6.0% Discover Bank $ 13,932 14.7 % $ 5,680 ≥6.0% $ 7,573 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,395 13.9 % $ 4,432 ≥4.0% N/A N/A Discover Bank $ 13,932 12.8 % $ 4,365 ≥4.0% $ 5,456 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,339 14.8 % $ 4,373 ≥4.5% N/A N/A Discover Bank $ 13,932 14.7 % $ 4,260 ≥4.5% $ 6,153 ≥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 and

Commitments, Contingencies and Guarantees	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022, the Company had unused credit arrangements for loans of approximately $225.6 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 and loan qualification. As the Company’s credit card loans are unconditionally cancellable, no liability for expected credit losses is required for unused lines of credit. For all other loans, the Company records a liability for expected credit losses for unfunded commitments, which is presented as part of accrued expenses and other liabilities in the consolidated statements of financial condition. Contingencies See Note 2: Investments for a description of contingent liabilities related to the Company's community reinvestment initiatives. See Note 13: 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. In its student loan securitizations, the Company would generally repurchase the loans from the trust at the outstanding principal amount plus interest. 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 and the principal amount of any private student loan secured borrowings, 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 condensed 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 $110 million as of September 30, 2022. 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 September 30, 2022, the Company had not recorded any contingent liability in the condensed consolidated financial statements 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 three and nine months ended September 30, 2022 and 2021. 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 Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Aggregate sales transaction volume (1) $ 66,766 $ 58,107 $ 189,505 $ 160,717 (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 condensed consolidated financial statements for merchant chargeback guarantees as of September 30, 2022 and December 31, 2021. 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 September 30, 2022 and December 31, 2021, the Company had escrow deposits and settlement withholdings of $11 million and $15 million, respectively, which are recorded in interest-bearing deposit accounts and accrued expenses and other liabilities on the Company's condensed consolidated statements of financial condition.

Litigation and Regulatory Matte

Litigation and Regulatory Matters	9 Months Ended
	Sep. 30, 2022
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, consumer 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 condensed 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 a consent order with the Consumer Financial Protection Bureau ("CFPB") regarding certain private student loan servicing practices, 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 an accrued liability for legal and regulatory matters when those matters present loss contingencies that are both probable and estimable. Litigation and regulatory settlement-related expenses were immaterial for the three and nine months ended September 30, 2022. Litigation and regulatory settlement-related expenses were $51 million and $54 million for the three and nine months ended September 30, 2021, respectively. 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 $190 million as of September 30, 2022. 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 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 condensed 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. On December 22, 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 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. In May 2017, the Court entered an order transferring the entire action to a federal court in New York that is presiding over certain related claims that are pending in the actions consolidated as MDL 1720. On August 28, 2020, the Court granted the plaintiffs' Motion to Certify a Class. The defendants appealed the ruling, which was denied on January 20, 2021. Expert discovery closed on February 28, 2022. On June 3, 2022, the Court granted Plaintiffs' Motion to Approve Class Notices. The Company is not in a position at this time to assess the likely outcome or its exposure, if any, with respect to this matter. Deadlines for the Company’s motion to compel arbitration, motion for summary judgment and Daubert challenges are set for November 30, 2022. However, the Company will seek to defend itself vigorously against all claims asserted by the plaintiffs.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
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. Accounting Standards Codification ("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 classified 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 Significant Significant Total Balance at September 30, 2022 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 6,084 $ 8 $ — $ 6,092 Residential mortgage-backed securities - Agency — 589 — 589 Available-for-sale investment securities $ 6,084 $ 597 $ — $ 6,681 Derivative financial instruments - cash flow hedges (1) $ — $ 2 $ — $ 2 Fair value - Net income Marketable equity securities $ 58 $ — $ — $ 58 Liabilities Fair value - OCI Derivative financial instruments - cash flow hedges (1) $ — $ 4 $ — $ 4 Balance at December 31, 2021 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 6,505 $ 9 $ — $ 6,514 Residential mortgage-backed securities - Agency — 186 — 186 Available-for-sale investment securities $ 6,505 $ 195 $ — $ 6,700 Fair value - Net income Marketable equity securities $ 461 $ — $ — $ 461 . (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 condensed consolidated statements of financial condition. 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 September 30, 2022, amounts reported in RMBS reflect U.S. government agency and U.S. GSE obligations issued by Ginnie Mae, Fannie Mae and Freddie Mac with an aggregate par value of $617 million, a weighted-average coupon of 4.04% and a weighted-average remaining maturity of four years. Marketable Equity Securities The Company holds non-controlling equity positions in payment service entities that have actively traded stock and therefore have readily determinable fair values. The Company classifies these equity securities as Level 1, the fair value estimates of which are determined based on quoted share prices for the same securities. 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 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 currency instruments 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. As of October 16, 2020, the Company revised its valuation methodology to reflect changes made by central clearinghouses that changed the discounting methodology and interest calculation of cash variation margin from Federal Funds OIS to the SOFR OIS for U.S. Dollar cleared interest rate swaps. The Company's valuation methodology will result in valuations for cleared interest rate swaps that better reflect cleared swap prices obtainable in the markets in which the Company transacts. Pursuant to ASC Topic 848, the Company has elected and applied certain optional expedients and exceptions that provide contract modification and hedge accounting relief to eligible interest rate swaps affected by the change in the discounting methodology. The changes in valuation methodology are applied prospectively as a change in accounting estimate and are immaterial to the Company’s financial statements. 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 during the three and nine months ended September 30, 2022. The Company recognized $92 million of impairments related to these assets during the nine months ended September 30, 2021. 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 September 30, 2022 Quoted Prices in Active Markets Significant Significant Total Carrying Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 191 $ — $ 191 $ 216 Held-to-maturity investment securities $ — $ 191 $ — $ 191 $ 216 Net loan receivables $ — $ — $ 104,096 $ 104,096 $ 97,847 Carrying value approximates fair value (1) Cash and cash equivalents $ 10,004 $ — $ — $ 10,004 $ 10,004 Restricted cash $ 1,866 $ — $ — $ 1,866 $ 1,866 Accrued interest receivables (2) $ — $ 1,103 $ — $ 1,103 $ 1,103 Liabilities Amortized cost Time deposits (3) $ — $ 26,699 $ — $ 26,699 $ 26,993 Long-term borrowings - owed to securitization investors $ — $ 10,660 $ 88 $ 10,748 $ 11,092 Other long-term borrowings — 8,588 — 8,588 9,085 Long-term borrowings $ — $ 19,248 $ 88 $ 19,336 $ 20,177 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 160 $ — $ 160 $ 160 Balance at December 31, 2021 Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 206 $ — $ 206 $ 204 Held-to-maturity investment securities $ — $ 206 $ — $ 206 $ 204 Net loan receivables $ — $ — $ 94,176 $ 94,176 $ 86,862 Carrying value approximates fair value (1) Cash and cash equivalents $ 8,750 $ — $ — $ 8,750 $ 8,750 Restricted cash $ 2,582 $ — $ — $ 2,582 $ 2,582 Accrued interest receivables (2) $ — $ 948 $ — $ 948 $ 948 Liabilities Amortized cost Time deposits (3) $ — $ 21,490 $ — $ 21,490 $ 21,125 Short-term borrowings $ — $ 1,750 $ — $ 1,750 $ 1,750 Long-term borrowings - owed to securitization investors $ — $ 8,953 $ 104 $ 9,057 $ 9,039 Other long-term borrowings — 10,013 — 10,013 9,438 Long-term borrowings $ — $ 18,966 $ 104 $ 19,070 $ 18,477 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 184 $ — $ 184 $ 184 (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 or accrued expenses and other liabilities, respectively, in the Company's condensed consolidated statements of financial condition. (3) Excludes deposits without contractually defined maturities for all periods presented.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2022
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 14: 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 condensed consolidated statements of financial condition. Collateral amounts recorded in the condensed 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 September 30, 2022 and December 31, 2021, the Company's outstanding cash flow hedges related only to interest receipts from credit card receivables and had an initial maximum period of three years and two years, respectively. 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 September 30, 2022, will be reclassified to interest income as interest receipts are accrued on the Company's then outstanding credit card receivables. During the next 12 months, the Company estimates it will reclassify $11 million of pretax earnings primarily related to its derivatives designated as 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. At September 30, 2022 and December 31, 2021, the Company used interest rate swaps to manage its exposure to changes in fair value of certain fixed-rate long-term borrowings, including securitized debt and bank notes, attributable to changes in the Federal Funds OIS rate, which is a benchmark interest rate defined by ASC 815. At December 31, 2021, the Company also used an interest rate swap to manage its exposure to changes in fair value of certain securitized debt attributable to changes in the 1-month LIBOR rate, which is a benchmark interest rate defined by ASC 815. 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 attributable to the interest-rate risk being hedged are recorded in interest expense. The changes generally provide substantial offset to one another, with any difference recognized in interest expense. 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 condensed 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): September 30, 2022 December 31, 2021 Notional Number of Outstanding Derivative Contracts Derivative Assets Derivative Liabilities Notional Derivative Assets (1) Derivative Liabilities (1) Derivatives designated as hedges Interest rate swaps—cash flow hedge (2) $ 3,250 6 $ 2 $ 4 $ 250 $ — $ — Interest rate swaps—fair value hedge $ 3,425 4 — — $ 6,125 — — Derivatives not designated as hedges Foreign exchange forward contracts (3) $ 24 7 — — $ 36 — — Total gross derivative assets/liabilities (4) 2 4 — — Less: collateral held/posted (5) — — — — Total net derivative assets/liabilities $ 2 $ 4 $ — $ — (1) The gross and net derivative assets and liabilities were immaterial as of December 31, 2021. (2) At September 30, 2022, the Company had two forward-starting interest rate swaps with a total notional amount of $1 billion with interest payments set to be exchanged starting in the fourth quarter of 2022. At December 31, 2021, the Company had no forward-starting interest rate swaps. (3) The foreign exchange forward contracts have notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 2 million as of September 30, 2022, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 14 million as of December 31, 2021. (4) In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities as part of its community reinvestment initiatives. At September 30, 2022 and December 31, 2021, the Company had one outstanding contract with a total notional amount of $10 million and $50 million, respectively, and immaterial fair values. (5) 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): September 30, 2022 December 31, 2021 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 Increasing the Carrying Amount of Hedged Liabilities (1) Long-term borrowings $ 3,385 $ (4) $ 6,158 $ 83 (1) The balance includes $33 million and $48 million of cumulative hedging adjustments related to discontinued hedging relationships as of September 30, 2022 and December 31, 2021, respectively. The following table summarizes the impact of the derivative instruments on income and indicates where within the condensed consolidated financial statements such impact is reported (dollars in millions): Location and Amount of (Losses) Gains Recognized on the Condensed Consolidated Statements of Income Interest Expense Long-Term Borrowings Interest Income (Credit Card) Other Income For the Three Months Ended September 30, 2022 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (168) $ 2,783 $ 19 The effects of cash flow and fair value hedging Losses on cash flow hedging relationship Amounts reclassified from OCI into earnings $ (1) $ (1) $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ 3 $ — $ — Losses on interest rate swaps (11) — — Total losses on fair value hedging relationships $ (8) $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ 1 For the Three Months Ended September 30, 2021 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (113) $ 2,193 $ 18 Gains (losses) on fair value hedging relationships Gains on hedged items $ 45 $ — $ — Losses on interest rate swaps (9) — — Total gains on fair value hedging relationships $ 36 $ — $ — Location and Amount of (Losses) Gains Recognized on the Condensed Consolidated Statements of Income Interest Expense Interest Income (Credit Card) Long-Term Borrowings Other Income For the Nine Months Ended September 30, 2022 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (416) $ 7,475 $ 64 The effects of cash flow and fair value hedging Losses on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (3) $ (1) $ — Gains on fair value hedging relationships Gains on hedged items $ 72 $ — $ — Losses on interest rate swaps (61) — — Total gains on fair value hedging relationships $ 11 $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ 2 For the Nine Months Ended September 30, 2021 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (356) $ 6,452 $ 47 The effects of cash flow and fair value hedging Losses on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (2) $ — $ — Gains on fair value hedging relationships Gains on hedged items $ 167 $ — $ — Losses on interest rate swaps (38) — — Total gains on fair value hedging relationships $ 129 $ — $ — For the impact of the derivative instruments on OCI, see Note 8: 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	9 Months Ended
	Sep. 30, 2022
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, personal loans, home loans and other consumer lending 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 automated teller machine, 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 business segment reporting provided to and used by the Company's chief operating decision-maker 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 Company's chief operating decision-maker. • 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 Company's chief operating decision-maker. The following table presents segment data (dollars in millions): Digital Payment Total For the Three Months Ended September 30, 2022 Interest income Credit card loans $ 2,783 $ — $ 2,783 Private student loans 211 — 211 Personal loans 221 — 221 Other loans 44 — 44 Other interest income 98 — 98 Total interest income 3,357 — 3,357 Interest expense 514 — 514 Net interest income 2,843 — 2,843 Provision for credit losses 773 — 773 Other income 541 95 636 Other expense 1,346 42 1,388 Income before income taxes $ 1,265 $ 53 $ 1,318 For the Three Months Ended September 30, 2021 Interest income Credit card loans $ 2,193 $ — $ 2,193 Private student loans 184 — 184 Personal loans 219 — 219 Other loans 30 — 30 Other interest income 48 — 48 Total interest income 2,674 — 2,674 Interest expense 269 — 269 Net interest income 2,405 — 2,405 Provision for credit losses 185 — 185 Other income (loss) 447 (75) 372 Other expense 1,151 39 1,190 Income (loss) before income taxes $ 1,516 $ (114) $ 1,402 Digital Payment Total For the Nine Months Ended September 30, 2022 Interest income Credit card loans $ 7,475 $ — $ 7,475 Private student loans 597 — 597 Personal loans 633 — 633 Other loans 113 — 113 Other interest income 190 — 190 Total interest income 9,008 — 9,008 Interest expense 1,076 — 1,076 Net interest income 7,932 — 7,932 Provision for credit losses 1,476 — 1,476 Other income 1,584 89 1,673 Other expense 3,624 117 3,741 Income (loss) before income tax expense $ 4,416 $ (28) $ 4,388 For the Nine Months Ended September 30, 2021 Interest income Credit card loans $ 6,452 $ — $ 6,452 Private student loans 554 — 554 Personal loans 662 — 662 Other loans 85 — 85 Other interest income 156 — 156 Total interest income 7,909 — 7,909 Interest expense 875 — 875 Net interest income 7,034 — 7,034 Provision for credit losses (45) — (45) Other income 1,284 833 2,117 Other expense 3,290 203 3,493 Income before income tax expense $ 5,073 $ 630 $ 5,703

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2022
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 Three Months Ended September 30, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 327 $ 19 $ 346 Protection products revenue 42 — 42 Transaction processing revenue — 65 65 Other income 3 16 19 Total other income subject to ASC 606 (2) 372 100 472 Other income not subject to ASC 606 Loan fee income 168 — 168 Unrealized gains (losses) on equity investments — (37) (37) Realized gains on equity investments 1 32 33 Total other income (loss) not subject to ASC 606 169 (5) 164 Total other income (loss) by operating segment $ 541 $ 95 $ 636 For the Three Months Ended September 30, 2021 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 280 $ 19 $ 299 Protection products revenue 43 — 43 Transaction processing revenue — 58 58 Other income 3 15 18 Total other income subject to ASC 606 (2) 326 92 418 Other income not subject to ASC 606 Loan fee income 121 — 121 Unrealized gains (losses) on equity investments — (167) (167) Total other income not subject to ASC 606 121 (167) (46) Total other income (loss) by operating segment $ 447 $ (75) $ 372 Digital Banking Payment Services Total For the Nine Months Ended September 30, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 995 $ 61 $ 1,056 Protection products revenue 128 — 128 Transaction processing revenue — 183 183 Other income 9 55 64 Total other income subject to ASC 606 (2) 1,132 299 1,431 Other income not subject to ASC 606 Loan fee income 450 — 450 Unrealized gains (losses) on equity investments — (394) (394) Realized gains on equity investments 2 184 186 Total other income (loss) not subject to ASC 606 452 (210) 242 Total other income by operating segment $ 1,584 $ 89 $ 1,673 For the Nine Months Ended September 30, 2021 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 826 $ 53 $ 879 Protection products revenue 129 — 129 Transaction processing revenue — 167 167 Other (loss) income (4) 51 47 Total other income subject to ASC 606 (2) 951 271 1,222 Other income not subject to ASC 606 Loan fee income 333 — 333 Unrealized gains on equity investments — 562 562 Total other income not subject to ASC 606 333 562 895 Total other income by operating segment $ 1,284 $ 833 $ 2,117 (1) Net of rewards, including Cashback Bonus rewards, of $811 million and $689 million for the three months ended September 30, 2022 and 2021, respectively, and $2.2 billion and $1.8 billion for the nine months ended September 30, 2022 and 2021, respectively. (2) Excludes deposit product fees that are reported within net interest income, which were immaterial for the three and nine months ended September 30, 2022 and 2021. For a detailed description of the Company's significant revenue recognition accounting policies, see Note 2: Summary of Significant Accounting Policies to the consolidated financial statements in the Company's annual report on Form 10-K for the year ended December 31, 2021.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated events and transactions that have occurred subsequent to September 30, 2022, and determined that there were no subsequent events that would require recognition or disclosure in the condensed consolidated financial statements.

Background and Basis of Prese_2

Background and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, the financial statements reflect all adjustments necessary for the fair presentation of results for the interim period. All such adjustments are of a normal, recurring nature.
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 condensed consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the condensed consolidated financial statements. The Company believes that the estimates used in the preparation of the condensed consolidated financial statements are reasonable. Actual results could differ from these estimates.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The Company's investment securities consist of the following (dollars in millions): September 30, December 31, U.S. Treasury (1) and U.S. GSE (2) securities $ 6,092 $ 6,514 Residential mortgage-backed securities - Agency (2) 805 390 Total investment securities $ 6,897 $ 6,904 (1) Includes $35 million and $27 million of U.S. Treasury securities pledged as swap collateral as of September 30, 2022 and December 31, 2021, respectively. (2) Consists of securities issued by Fannie Mae, Freddie Mac, Ginnie Mae, or the Federal Home Loan Bank.
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 September 30, 2022 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 6,258 $ — $ (166) $ 6,092 Residential mortgage-backed securities - Agency 618 — (29) 589 Total available-for-sale investment securities $ 6,876 $ — $ (195) $ 6,681 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 216 $ — $ (25) $ 191 Total held-to-maturity investment securities $ 216 $ — $ (25) $ 191 At December 31, 2021 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 6,368 $ 146 $ — $ 6,514 Residential mortgage-backed securities - Agency 181 5 — 186 Total available-for-sale investment securities $ 6,549 $ 151 $ — $ 6,700 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 204 $ 3 $ (1) $ 206 Total held-to-maturity investment securities $ 204 $ 3 $ (1) $ 206 (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.
Schedule of Fair Value of Securities in a Continuous Unrealized Loss Position for Less Than 12 Months and More Than 12 Months	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): Number of Securities in a Loss Position Less than 12 months More than 12 months Fair Unrealized Fair Unrealized At September 30, 2022 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 54 $ 5,863 $ (163) $ 106 $ (3) Residential mortgage-backed securities - Agency 28 $ 584 $ (28) $ 5 $ (1) At December 31, 2021 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 2 $ 110 NM $ — $ — Residential mortgage-backed securities - Agency 1 $ 7 NM $ — $ —
Schedule of Maturities of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities	Maturities of available-for-sale debt securities and held-to-maturity debt securities are provided in the following table (dollars in millions): At September 30, 2022 One Year After One After Five After Ten Total Available-for-Sale Investment Securities — Amortized Cost U.S. Treasury and U.S. GSE securities $ 1,724 $ 4,534 $ — $ — $ 6,258 Residential mortgage-backed securities - Agency (1) 2 78 45 493 618 Total available-for-sale investment securities $ 1,726 $ 4,612 $ 45 $ 493 $ 6,876 Held-to-Maturity Investment Securities — Amortized Cost Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 216 $ 216 Total held-to-maturity investment securities $ — $ — $ — $ 216 $ 216 Available-for-Sale Investment Securities — Fair Values U.S. Treasury and U.S. GSE securities $ 1,709 $ 4,383 $ — $ — $ 6,092 Residential mortgage-backed securities - Agency (1) 2 75 43 469 589 Total available-for-sale investment securities $ 1,711 $ 4,458 $ 43 $ 469 $ 6,681 Held-to-Maturity Investment Securities — Fair Values Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 191 $ 191 Total held-to-maturity investment securities $ — $ — $ — $ 191 $ 191 (1) Maturities of RMBS are reflective of the contractual maturities of the investment.

Loan Receivables (Tables)

Loan Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
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): September 30, December 31, Credit card loans (1)(2) $ 83,630 $ 74,369 Other loans (3) Private student loans (4) 10,349 10,113 Personal loans 7,674 6,936 Other loans 3,255 2,266 Total other loans 21,278 19,315 Total loan receivables 104,908 93,684 Allowance for credit losses (7,061) (6,822) Net loan receivables $ 97,847 $ 86,862 (1) Amounts include carrying values of $14.4 billion and $13.3 billion underlying investors' interest in trust debt at September 30, 2022 and December 31, 2021, respectively, and $10.3 billion and $11.9 billion in seller's interest at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student 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 condensed consolidated statements of financial condition, was $507 million and $423 million at September 30, 2022 and December 31, 2021, respectively. (3) Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $504 million, $43 million and $9 million, respectively, at September 30, 2022 and $443 million, $42 million and $6 million, respectively, at December 31, 2021. (4) Amounts include carrying values of $182 million and $207 million in loans pledged as collateral against the note issued from a private student loan securitization trust at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information.
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, private student and personal loan receivables (dollars in millions): Credit Risk Profile by FICO Score September 30, 2022 December 31, 2021 660 and Above Less than 660 660 and Above Less than 660 $ % $ % $ % $ % Credit card loans (1) $ 68,999 83 % $ 14,631 17 % $ 62,262 84 % $ 12,107 16 % Private student loans by origination year (2)(3) 2022 $ 949 93 % $ 69 7 % 2021 1,699 96 % 79 4 % $ 1,251 94 % $ 73 6 % 2020 1,402 96 % 61 4 % 1,561 96 % 59 4 % 2019 1,254 95 % 62 5 % 1,439 96 % 61 4 % 2018 973 94 % 59 6 % 1,147 95 % 59 5 % Prior 3,521 94 % 221 6 % 4,215 94 % 248 6 % Total private student loans $ 9,798 95 % $ 551 5 % $ 9,613 95 % $ 500 5 % Personal loans by origination year 2022 $ 3,371 99 % $ 38 1 % 2021 2,238 97 % 80 3 % $ 3,326 99 % $ 37 1 % 2020 942 96 % 39 4 % 1,622 98 % 39 2 % 2019 550 93 % 43 7 % 1,052 94 % 62 6 % 2018 210 89 % 27 11 % 435 91 % 44 9 % Prior 113 83 % 23 17 % 276 87 % 43 13 % Total personal loans $ 7,424 97 % $ 250 3 % $ 6,711 97 % $ 225 3 % (1) Amounts include $663 million and $813 million of revolving line-of-credit arrangements that were converted to term loans as a result of a troubled debt restructuring ("TDR") program as of September 30, 2022 and December 31, 2021, respectively. (2) A majority of private student loan originations occur in the third quarter and disbursements can span multiple calendar years. (3) FICO score represents the higher credit score of the cosigner or borrower.
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, private student and personal loan receivables (dollars in millions): September 30, 2022 December 31, 2021 30-89 Days 90 or Total Past 30-89 Days 90 or Total Past Credit card loans $ 991 $ 770 $ 1,761 $ 670 $ 562 $ 1,232 Private student loans by origination year (1) 2022 $ — $ — $ — 2021 6 — 6 $ — $ — $ — 2020 14 2 16 4 1 5 2019 19 5 24 9 2 11 2018 20 7 27 14 4 18 Prior 99 29 128 94 29 123 Total private student loans $ 158 $ 43 $ 201 $ 121 $ 36 $ 157 Personal loans by origination year 2022 $ 5 $ 1 $ 6 2021 12 4 16 $ 5 $ 1 $ 6 2020 7 3 10 7 2 9 2019 8 3 11 11 4 15 2018 4 2 6 6 3 9 Prior 3 1 4 6 3 9 Total personal loans $ 39 $ 14 $ 53 $ 35 $ 13 $ 48 (1) Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency.
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 Three Months Ended September 30, 2022 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at June 30, 2022 $ 5,307 $ 832 $ 572 $ 46 $ 6,757 Additions Provision for credit losses (1) 649 20 69 5 743 Deductions Charge-offs (592) (29) (38) — (659) Recoveries 197 6 17 — 220 Net charge-offs (395) (23) (21) — (439) Balance at September 30, 2022 $ 5,561 $ 829 $ 620 $ 51 $ 7,061 For the Three Months Ended September 30, 2021 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at June 30, 2021 $ 5,409 $ 828 $ 745 $ 44 $ 7,026 Additions Provision for credit losses (1) 178 46 (64) — 160 Deductions Charge-offs (495) (23) (38) — (556) Recoveries 206 6 19 — 231 Net charge-offs (289) (17) (19) — (325) Balance at September 30, 2021 $ 5,298 $ 857 $ 662 $ 44 $ 6,861 For the Nine Months Ended September 30, 2022 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 Additions Provision for credit losses (1) 1,395 54 19 7 1,475 Deductions Charge-offs (1,720) (86) (115) — (1,921) Recoveries 613 18 54 — 685 Net charge-offs (1,107) (68) (61) — (1,236) Balance at September 30, 2022 $ 5,561 $ 829 $ 620 $ 51 $ 7,061 For the Nine Months Ended September 30, 2021 Credit Card Loans Private Student Loans Personal Loans Other Loans Total Loans Balance at December 31, 2020 6,491 840 857 38 8,226 Additions Provision for credit losses (1) (18) 61 (96) 6 (47) Deductions Charge-offs (1,778) (63) (150) — (1,991) Recoveries 603 19 51 — 673 Net charge-offs (1,175) (44) (99) — (1,318) Balance at September 30, 2021 $ 5,298 $ 857 $ 662 $ 44 $ 6,861 (1) Excludes a $30 million and $25 million adjustment of the liability for expected credit losses on unfunded commitments for the three months ended September 30, 2022 and 2021, respectively, and $1 million and $2 million for the nine months ended September 30, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company's condensed consolidated statements of financial condition.
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): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Interest and fees accrued subsequently charged-off, net of recoveries (recorded as a reduction of interest income) $ 74 $ 57 $ 209 $ 232 Fees accrued subsequently charged-off, net of recoveries (recorded as a reduction to other income) $ 24 $ 15 $ 68 $ 59
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): 30-89 Days 90 or Total Past 90 or Total Non-accruing (1) At September 30, 2022 Credit card loans $ 991 $ 770 $ 1,761 $ 741 $ 188 Other loans Private student loans 158 43 201 42 8 Personal loans 39 14 53 13 7 Other loans 9 10 19 1 21 Total other loans 206 67 273 56 36 Total loan receivables $ 1,197 $ 837 $ 2,034 $ 797 $ 224 At December 31, 2021 Credit card loans $ 670 $ 562 $ 1,232 $ 527 $ 194 Other loans Private student loans 121 36 157 35 8 Personal loans 35 13 48 12 7 Other loans 7 7 14 1 16 Total other loans 163 56 219 48 31 Total loan receivables $ 833 $ 618 $ 1,451 $ 575 $ 225 (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 $6 million for the three months ended September 30, 2022 and 2021, and $17 million and $21 million for the nine months ended September 30, 2022 and 2021, 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 That Entered a Modification Program During the Period	The following table provides information on loans that entered a TDR program during the period (dollars in millions): For the Three Months Ended September 30, 2022 2021 Number of Accounts Balances Number of Accounts Balances Accounts that entered a TDR program during the period Credit card loans (1) 63,803 $ 414 13,964 $ 86 Private student loans 1,863 $ 36 102 $ 2 Personal loans 1,799 $ 25 888 $ 10 For the Nine Months Ended September 30, 2022 2021 Number of Accounts Balances Number of Accounts Balances Accounts that entered a TDR program during the period Credit card loans (1) 167,655 $ 1,071 48,887 $ 315 Private student loans 5,141 $ 96 355 $ 7 Personal loans 4,561 $ 62 3,102 $ 38 (1) Accounts that entered a credit card TDR program include $80 million and $72 million that were converted from revolving line-of-credit arrangements to term loans during the three months ended September 30, 2022 and 2021, respectively, and $225 million and $288 million for the nine months ended September 30, 2022 and 2021, respectively.
Schedule of Troubled Debt Restructurings That Subsequently Defaulted	The following table presents the carrying value of loans that experienced a default during the period that had been modified in a TDR during the 15 months preceding the end of each period (dollars in millions): For the Three Months Ended September 30, 2022 2021 Number of Accounts Aggregated Outstanding Balances Upon Default Number of Accounts Aggregated Outstanding Balances Upon Default TDRs that subsequently defaulted Credit card loans (1)(2) 7,784 $ 38 3,679 $ 21 Private student loans (3) 391 $ 7 83 $ 2 Personal loans (2) 606 $ 9 399 $ 6 For the Nine Months Ended September 30, 2022 2021 Number of Accounts Aggregated Outstanding Balances Upon Default Number of Accounts Aggregated Outstanding Balances Upon Default TDRs that subsequently defaulted Credit card loans (1)(2) 18,022 $ 89 14,205 $ 84 Private student loans (3) 658 $ 12 214 $ 5 Personal loans (2) 1,142 $ 16 1,287 $ 18 (1) For credit card loans that default from a temporary loan modification program, accounts revert back to the pre-modification terms and charging privileges remain suspended in most cases. (2) For credit card loans and personal loans, a customer defaults from a loan modification program after either two consecutive missed payments or at charge-off, depending on the program. The outstanding balance upon default is generally the loan balance at the end of the month prior to default.

Credit Card and Private Stude_2

Credit Card and Private Student Loan Securitization Activities (Tables)	9 Months Ended
	Sep. 30, 2022
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 condensed consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): September 30, December 31, Restricted cash $ 1,858 $ 2,574 Investors' interests held by third-party investors 11,025 9,425 Investors' interests held by wholly owned subsidiaries of Discover Bank 3,333 3,899 Seller's interest 10,345 11,918 Loan receivables (1) 24,703 25,242 Allowance for credit losses allocated to securitized loan receivables (1) (1,153) (1,371) Net loan receivables 23,550 23,871 Other assets 5 3 Carrying value of assets of consolidated variable interest entities $ 25,413 $ 26,448 (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.
Schedule of Restricted Private Student Loan Securitized Assets	The carrying values of these restricted assets, which are presented on the Company's condensed consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): September 30, December 31, Restricted cash $ 8 $ 8 Private student loan receivables 182 207 Carrying value of assets of consolidated variable interest entities $ 190 $ 215

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2022
Deposits [Abstract]
Schedule of Certificates of Deposit Maturities	The following table summarizes certificates of deposits maturing over the remainder of this year, over each of the next four years and thereafter (dollars in millions): At September 30, 2022 2022 $ 4,136 2023 12,675 2024 4,820 2025 1,935 2026 1,223 Thereafter 2,204 Total $ 26,993

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Maturity Interest Weighted-Average Interest Rate Outstanding Amount Outstanding Amount Securitized Debt Fixed-rate asset-backed securities (1) 2022-2026 0.58% - 3.56% 2.41% $ 8,405 $ 5,588 Floating-rate asset-backed securities (2) 2022-2024 3.15% - 3.42% 3.26% 2,599 3,347 Total Discover Card Master Trust I and Discover Card Execution Note Trust 11,004 8,935 Floating-rate asset-backed security (3)(4) 2031 7.25% 7.25% 88 104 Total private student loan securitization trust 88 104 Total long-term borrowings - owed to securitization investors 11,092 9,039 Discover Financial Services (Parent Company) Fixed-rate senior notes 2022-2027 3.75% - 4.50% 4.06% 3,088 3,382 Fixed-rate retail notes 2022-2031 2.85% - 4.40% 3.75% 166 166 Discover Bank Fixed-rate senior bank notes (1) 2023-2030 2.45% - 4.65% 3.63% 5,344 5,385 Fixed-rate subordinated bank notes (1) 2028 4.68% 4.68% 487 505 Total long-term borrowings $ 20,177 $ 18,477 (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 London Interbank Offered Rate ("LIBOR") or Overnight Index Swap ("OIS") rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 15: Derivatives and Hedging Activities. (2) DCENT floating-rate asset-backed securities include issuances with the following interest rate terms: 1-month LIBOR + 33 to 60 basis points as of September 30, 2022. (3) The private student loan securitization trust floating-rate asset-backed security includes an issuance with the following interest rate term: Prime rate + 100 basis points as of September 30, 2022. (4) Repayment of this debt is dependent upon the timing of principal and interest payments on the underlying private student loans. The date shown represents the final maturity date.
Schedule of Long-Term Borrowings Maturities	The following table summarizes long-term borrowings maturing over the remainder of this year, over each of the next four years and thereafter (dollars in millions): September 30, 2022 2022 $ 2,331 2023 3,283 2024 3,729 2025 5,167 2026 2,658 Thereafter 3,009 Total $ 20,177

Preferred Stock (Tables)

Preferred Stock (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 (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 September 30, 2022 Total Depositary Shares Authorized, Issued and Outstanding Carrying Value September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 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 5.50% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month LIBOR plus a spread of 3.076% 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 five 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)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	Changes in each component of accumulated other comprehensive income ("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 Three Months Ended September 30, 2022 Balance at June 30, 2022 $ (48) $ (4) $ (199) $ (251) Net change (100) (2) — (102) Balance at September 30, 2022 $ (148) $ (6) $ (199) $ (353) For the Three Months Ended September 30, 2021 Balance at June 30, 2021 $ 198 $ (10) $ (227) $ (39) Net change (29) — — (29) Balance at September 30, 2021 $ 169 $ (10) $ (227) $ (68) For the Nine Months Ended September 30, 2022 Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94) Net change (262) 3 — (259) Balance at September 30, 2022 $ (148) $ (6) $ (199) $ (353) For the Nine Months Ended September 30, 2021 Balance at December 31, 2020 $ 284 $ (12) $ (227) $ 45 Net change (115) 2 — (113) Balance at September 30, 2021 $ 169 $ (10) $ (227) $ (68)
Schedule of Other Comprehensive Income Before Reclassifications and Amounts Reclassified from AOCI	The following table presents each component of other comprehensive income ("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 Three Months Ended September 30, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (133) $ 33 $ (100) Net change $ (133) $ 33 $ (100) Cash Flow Hedges Net unrealized losses arising during the period $ (4) $ 1 $ (3) Amounts reclassified from AOCI 2 (1) 1 Net change $ (2) $ — $ (2) For the Three Months Ended September 30, 2021 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (38) $ 9 $ (29) Net change $ (38) $ 9 $ (29) Cash Flow Hedges Net unrealized gains arising during the period $ — $ 1 $ 1 Amounts reclassified from AOCI $ — $ (1) $ (1) Net change $ — $ — $ — For the Nine Months Ended September 30, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (346) $ 84 $ (262) Net change $ (346) $ 84 $ (262) Cash Flow Hedges Net unrealized losses arising during the period $ (2) $ — $ (2) Amounts reclassified from AOCI 4 1 5 Net change $ 2 $ 1 $ 3 For the Nine Months Ended September 30, 2021 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (152) $ 37 $ (115) Net change $ (152) $ 37 $ (115) Cash Flow Hedges Net unrealized gains arising during the period $ — $ 1 $ 1 Amounts reclassified from AOCI $ 2 $ (1) $ 1 Net change $ 2 $ — $ 2

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Calculation	The following table presents the calculation of the Company's effective income tax rate (dollars in millions): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Income before income taxes $ 1,318 $ 1,402 $ 4,388 $ 5,703 Income tax expense $ 312 $ 311 $ 1,029 $ 1,321 Effective income tax rate 23.6 % 22.2 % 23.4 % 23.2 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted EPS	The following table presents the calculation of basic and diluted earnings per share ("EPS") (dollars and shares in millions, except per share amounts): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Numerator Net income $ 1,006 $ 1,091 $ 3,359 $ 4,382 Preferred stock dividends (31) (30) (62) (69) Net income available to common stockholders 975 1,061 3,297 4,313 Income allocated to participating securities (8) (6) (20) (24) Net income allocated to common stockholders $ 967 $ 1,055 $ 3,277 $ 4,289 Denominator Weighted-average shares of common stock outstanding 273 298 279 303 Effect of dilutive common stock equivalents 1 — — — Weighted-average shares of common stock outstanding and common stock equivalents 274 298 279 303 Basic earnings per common share $ 3.54 $ 3.54 $ 11.74 $ 14.17 Diluted earnings per common share $ 3.54 $ 3.54 $ 11.73 $ 14.16

Capital Adequacy (Tables)

Capital Adequacy (Tables)	9 Months Ended
	Sep. 30, 2022
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) September 30, 2022 Total capital (to risk-weighted assets) Discover Financial Services $ 17,867 16.7 % $ 8,573 ≥8.0% $ 10,716 ≥10.0% Discover Bank $ 15,569 14.7 % $ 8,484 ≥8.0% $ 10,605 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,994 14.9 % $ 6,430 ≥6.0% $ 6,430 ≥6.0% Discover Bank $ 13,510 12.7 % $ 6,363 ≥6.0% $ 8,484 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,994 13.4 % $ 4,782 ≥4.0% N/A N/A Discover Bank $ 13,510 11.4 % $ 4,737 ≥4.0% $ 5,922 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,938 13.9 % $ 4,822 ≥4.5% N/A N/A Discover Bank $ 13,510 12.7 % $ 4,772 ≥4.5% $ 6,893 ≥6.5% December 31, 2021 Total capital (to risk-weighted assets) Discover Financial Services $ 17,150 17.6 % $ 7,775 ≥8.0% $ 9,719 ≥10.0% Discover Bank $ 15,957 16.9 % $ 7,573 ≥8.0% $ 9,466 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,395 15.8 % $ 5,831 ≥6.0% $ 5,831 ≥6.0% Discover Bank $ 13,932 14.7 % $ 5,680 ≥6.0% $ 7,573 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,395 13.9 % $ 4,432 ≥4.0% N/A N/A Discover Bank $ 13,932 12.8 % $ 4,365 ≥4.0% $ 5,456 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,339 14.8 % $ 4,373 ≥4.5% N/A N/A Discover Bank $ 13,932 14.7 % $ 4,260 ≥4.5% $ 6,153 ≥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)	9 Months Ended
	Sep. 30, 2022
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 Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Aggregate sales transaction volume (1) $ 66,766 $ 58,107 $ 189,505 $ 160,717 (1) Represents transactions processed on the Discover Network for which a potential liability exists that, in aggregate, can differ from credit card sales volume.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
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 Significant Significant Total Balance at September 30, 2022 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 6,084 $ 8 $ — $ 6,092 Residential mortgage-backed securities - Agency — 589 — 589 Available-for-sale investment securities $ 6,084 $ 597 $ — $ 6,681 Derivative financial instruments - cash flow hedges (1) $ — $ 2 $ — $ 2 Fair value - Net income Marketable equity securities $ 58 $ — $ — $ 58 Liabilities Fair value - OCI Derivative financial instruments - cash flow hedges (1) $ — $ 4 $ — $ 4 Balance at December 31, 2021 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 6,505 $ 9 $ — $ 6,514 Residential mortgage-backed securities - Agency — 186 — 186 Available-for-sale investment securities $ 6,505 $ 195 $ — $ 6,700 Fair value - Net income Marketable equity securities $ 461 $ — $ — $ 461 . (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 condensed 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 September 30, 2022 Quoted Prices in Active Markets Significant Significant Total Carrying Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 191 $ — $ 191 $ 216 Held-to-maturity investment securities $ — $ 191 $ — $ 191 $ 216 Net loan receivables $ — $ — $ 104,096 $ 104,096 $ 97,847 Carrying value approximates fair value (1) Cash and cash equivalents $ 10,004 $ — $ — $ 10,004 $ 10,004 Restricted cash $ 1,866 $ — $ — $ 1,866 $ 1,866 Accrued interest receivables (2) $ — $ 1,103 $ — $ 1,103 $ 1,103 Liabilities Amortized cost Time deposits (3) $ — $ 26,699 $ — $ 26,699 $ 26,993 Long-term borrowings - owed to securitization investors $ — $ 10,660 $ 88 $ 10,748 $ 11,092 Other long-term borrowings — 8,588 — 8,588 9,085 Long-term borrowings $ — $ 19,248 $ 88 $ 19,336 $ 20,177 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 160 $ — $ 160 $ 160 Balance at December 31, 2021 Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 206 $ — $ 206 $ 204 Held-to-maturity investment securities $ — $ 206 $ — $ 206 $ 204 Net loan receivables $ — $ — $ 94,176 $ 94,176 $ 86,862 Carrying value approximates fair value (1) Cash and cash equivalents $ 8,750 $ — $ — $ 8,750 $ 8,750 Restricted cash $ 2,582 $ — $ — $ 2,582 $ 2,582 Accrued interest receivables (2) $ — $ 948 $ — $ 948 $ 948 Liabilities Amortized cost Time deposits (3) $ — $ 21,490 $ — $ 21,490 $ 21,125 Short-term borrowings $ — $ 1,750 $ — $ 1,750 $ 1,750 Long-term borrowings - owed to securitization investors $ — $ 8,953 $ 104 $ 9,057 $ 9,039 Other long-term borrowings — 10,013 — 10,013 9,438 Long-term borrowings $ — $ 18,966 $ 104 $ 19,070 $ 18,477 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 184 $ — $ 184 $ 184 (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 or accrued expenses and other liabilities, respectively, in the Company's condensed 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)	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Notional Number of Outstanding Derivative Contracts Derivative Assets Derivative Liabilities Notional Derivative Assets (1) Derivative Liabilities (1) Derivatives designated as hedges Interest rate swaps—cash flow hedge (2) $ 3,250 6 $ 2 $ 4 $ 250 $ — $ — Interest rate swaps—fair value hedge $ 3,425 4 — — $ 6,125 — — Derivatives not designated as hedges Foreign exchange forward contracts (3) $ 24 7 — — $ 36 — — Total gross derivative assets/liabilities (4) 2 4 — — Less: collateral held/posted (5) — — — — Total net derivative assets/liabilities $ 2 $ 4 $ — $ — (1) The gross and net derivative assets and liabilities were immaterial as of December 31, 2021. (2) At September 30, 2022, the Company had two forward-starting interest rate swaps with a total notional amount of $1 billion with interest payments set to be exchanged starting in the fourth quarter of 2022. At December 31, 2021, the Company had no forward-starting interest rate swaps. (3) The foreign exchange forward contracts have notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 2 million as of September 30, 2022, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 14 million as of December 31, 2021. (4) In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities as part of its community reinvestment initiatives. At September 30, 2022 and December 31, 2021, the Company had one outstanding contract with a total notional amount of $10 million and $50 million, respectively, and immaterial fair values. (5) 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): September 30, 2022 December 31, 2021 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 Increasing the Carrying Amount of Hedged Liabilities (1) Long-term borrowings $ 3,385 $ (4) $ 6,158 $ 83 (1) The balance includes $33 million and $48 million of cumulative hedging adjustments related to discontinued hedging relationships as of September 30, 2022 and December 31, 2021, 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 condensed consolidated financial statements such impact is reported (dollars in millions): Location and Amount of (Losses) Gains Recognized on the Condensed Consolidated Statements of Income Interest Expense Long-Term Borrowings Interest Income (Credit Card) Other Income For the Three Months Ended September 30, 2022 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (168) $ 2,783 $ 19 The effects of cash flow and fair value hedging Losses on cash flow hedging relationship Amounts reclassified from OCI into earnings $ (1) $ (1) $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ 3 $ — $ — Losses on interest rate swaps (11) — — Total losses on fair value hedging relationships $ (8) $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ 1 For the Three Months Ended September 30, 2021 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (113) $ 2,193 $ 18 Gains (losses) on fair value hedging relationships Gains on hedged items $ 45 $ — $ — Losses on interest rate swaps (9) — — Total gains on fair value hedging relationships $ 36 $ — $ — Location and Amount of (Losses) Gains Recognized on the Condensed Consolidated Statements of Income Interest Expense Interest Income (Credit Card) Long-Term Borrowings Other Income For the Nine Months Ended September 30, 2022 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (416) $ 7,475 $ 64 The effects of cash flow and fair value hedging Losses on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (3) $ (1) $ — Gains on fair value hedging relationships Gains on hedged items $ 72 $ — $ — Losses on interest rate swaps (61) — — Total gains on fair value hedging relationships $ 11 $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ 2 For the Nine Months Ended September 30, 2021 Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (356) $ 6,452 $ 47 The effects of cash flow and fair value hedging Losses on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (2) $ — $ — Gains on fair value hedging relationships Gains on hedged items $ 167 $ — $ — Losses on interest rate swaps (38) — — Total gains on fair value hedging relationships $ 129 $ — $ —

Segment Disclosures (Tables)

Segment Disclosures (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Disclosures	The following table presents segment data (dollars in millions): Digital Payment Total For the Three Months Ended September 30, 2022 Interest income Credit card loans $ 2,783 $ — $ 2,783 Private student loans 211 — 211 Personal loans 221 — 221 Other loans 44 — 44 Other interest income 98 — 98 Total interest income 3,357 — 3,357 Interest expense 514 — 514 Net interest income 2,843 — 2,843 Provision for credit losses 773 — 773 Other income 541 95 636 Other expense 1,346 42 1,388 Income before income taxes $ 1,265 $ 53 $ 1,318 For the Three Months Ended September 30, 2021 Interest income Credit card loans $ 2,193 $ — $ 2,193 Private student loans 184 — 184 Personal loans 219 — 219 Other loans 30 — 30 Other interest income 48 — 48 Total interest income 2,674 — 2,674 Interest expense 269 — 269 Net interest income 2,405 — 2,405 Provision for credit losses 185 — 185 Other income (loss) 447 (75) 372 Other expense 1,151 39 1,190 Income (loss) before income taxes $ 1,516 $ (114) $ 1,402 Digital Payment Total For the Nine Months Ended September 30, 2022 Interest income Credit card loans $ 7,475 $ — $ 7,475 Private student loans 597 — 597 Personal loans 633 — 633 Other loans 113 — 113 Other interest income 190 — 190 Total interest income 9,008 — 9,008 Interest expense 1,076 — 1,076 Net interest income 7,932 — 7,932 Provision for credit losses 1,476 — 1,476 Other income 1,584 89 1,673 Other expense 3,624 117 3,741 Income (loss) before income tax expense $ 4,416 $ (28) $ 4,388 For the Nine Months Ended September 30, 2021 Interest income Credit card loans $ 6,452 $ — $ 6,452 Private student loans 554 — 554 Personal loans 662 — 662 Other loans 85 — 85 Other interest income 156 — 156 Total interest income 7,909 — 7,909 Interest expense 875 — 875 Net interest income 7,034 — 7,034 Provision for credit losses (45) — (45) Other income 1,284 833 2,117 Other expense 3,290 203 3,493 Income before income tax expense $ 5,073 $ 630 $ 5,703

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2022
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 Three Months Ended September 30, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 327 $ 19 $ 346 Protection products revenue 42 — 42 Transaction processing revenue — 65 65 Other income 3 16 19 Total other income subject to ASC 606 (2) 372 100 472 Other income not subject to ASC 606 Loan fee income 168 — 168 Unrealized gains (losses) on equity investments — (37) (37) Realized gains on equity investments 1 32 33 Total other income (loss) not subject to ASC 606 169 (5) 164 Total other income (loss) by operating segment $ 541 $ 95 $ 636 For the Three Months Ended September 30, 2021 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 280 $ 19 $ 299 Protection products revenue 43 — 43 Transaction processing revenue — 58 58 Other income 3 15 18 Total other income subject to ASC 606 (2) 326 92 418 Other income not subject to ASC 606 Loan fee income 121 — 121 Unrealized gains (losses) on equity investments — (167) (167) Total other income not subject to ASC 606 121 (167) (46) Total other income (loss) by operating segment $ 447 $ (75) $ 372 Digital Banking Payment Services Total For the Nine Months Ended September 30, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 995 $ 61 $ 1,056 Protection products revenue 128 — 128 Transaction processing revenue — 183 183 Other income 9 55 64 Total other income subject to ASC 606 (2) 1,132 299 1,431 Other income not subject to ASC 606 Loan fee income 450 — 450 Unrealized gains (losses) on equity investments — (394) (394) Realized gains on equity investments 2 184 186 Total other income (loss) not subject to ASC 606 452 (210) 242 Total other income by operating segment $ 1,584 $ 89 $ 1,673 For the Nine Months Ended September 30, 2021 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 826 $ 53 $ 879 Protection products revenue 129 — 129 Transaction processing revenue — 167 167 Other (loss) income (4) 51 47 Total other income subject to ASC 606 (2) 951 271 1,222 Other income not subject to ASC 606 Loan fee income 333 — 333 Unrealized gains on equity investments — 562 562 Total other income not subject to ASC 606 333 562 895 Total other income by operating segment $ 1,284 $ 833 $ 2,117 (1) Net of rewards, including Cashback Bonus rewards, of $811 million and $689 million for the three months ended September 30, 2022 and 2021, respectively, and $2.2 billion and $1.8 billion for the nine months ended September 30, 2022 and 2021, respectively. (2) Excludes deposit product fees that are reported within net interest income, which were immaterial for the three and nine months ended September 30, 2022 and 2021.

Background and Basis of Prese_3

Background and Basis of Presentation (Narrative) (Details)	9 Months Ended
	Sep. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments (in number of segments)	2

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Investment Holdings [Line Items]
Proceeds from the sale of available-for-sale securities	$ 0	$ 5	$ 0	$ 5
Contingent liabilities related to equity method investments	0		0		$ 0
Unrealized (losses) gains on equity investments	(37)	$ (167)	(394)	$ 562
Realized gain (loss) on payments services equity investments with readily determinable fair values	32		182
Community Reinvestment Act [Member]
Investment Holdings [Line Items]
Affordable housing project equity method investments	353		353		350
Contingent liabilities related to affordable housing project equity method investments	82		82		80
Other Assets [Member] | Payment Services [Member]
Investment Holdings [Line Items]
Equity securities without readily determinable fair value	39		39		36
Fair value of payment services equity investments with readily determinable fair values	58		58		461
Other Assets [Member] | Community Reinvestment Act [Member]
Investment Holdings [Line Items]
Equity method investments	382		382		388
Other Liabilities [Member] | Community Reinvestment Act [Member]
Investment Holdings [Line Items]
Contingent liabilities related to equity method investments	$ 82		$ 82		$ 92

Investments (Schedule of Invest

Investments (Schedule of Investment Securities) (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Investment Holdings [Line Items]
Investment securities		$ 6,897	$ 6,904
US Treasury and Government
Investment Holdings [Line Items]
Investment securities	[1],[2]	6,092	6,514
Residential Mortgage-Backed Securities - Agency [Member] | Asset Not Pledged as Collateral [Member]
Investment Holdings [Line Items]
Investment securities	[1]	805	390
U.S. Treasury Securities [Member]
Investment Holdings [Line Items]
Derivative collateral		$ 35	$ 27
[1]Consists of securities issued by Fannie Mae, Freddie Mac, Ginnie Mae, or the Federal Home Loan Bank.[2]Includes $35 million and $27 million of U.S. Treasury securities pledged as swap collateral as of September 30, 2022 and December 31, 2021, respectively.

Investments (Schedule of Amorti

Investments (Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value) (Details) - USD ($) $ in Millions		Sep. 30, 2022		Dec. 31, 2021
Investment Holdings [Line Items]
Available-for-sale investment securities, amortized cost	[1]	$ 6,876		$ 6,549
Available-for-sale investment securities, gross unrealized gains	[1]	0		151
Available-for-sale investment securities, gross unrealized losses	[1]	(195)		0
Available-for-sale investment securities, fair value	[1]	6,681		6,700
Held-to-maturity investment securities, amortized cost	[2]	216		204
Held-to-maturity investment securities, gross unrealized gains	[2]	0		3
Held-to-maturity investment securities, gross unrealized losses	[2]	(25)		(1)
Held-to-maturity investment securities, fair value	[2]	191		206
US Treasury and Government
Investment Holdings [Line Items]
Available-for-sale investment securities, amortized cost	[1]	6,258		6,368
Available-for-sale investment securities, gross unrealized gains	[1]	0		146
Available-for-sale investment securities, gross unrealized losses	[1]	(166)		0
Available-for-sale investment securities, fair value	[1]	6,092		6,514
Residential Mortgage-Backed Securities - Agency [Member]
Investment Holdings [Line Items]
Available-for-sale investment securities, amortized cost	[1]	618	[3]	181
Available-for-sale investment securities, gross unrealized gains	[1]	0		5
Available-for-sale investment securities, gross unrealized losses	[1]	(29)		0
Available-for-sale investment securities, fair value	[1]	589	[3]	186
Held-to-maturity investment securities, amortized cost	[2],[4]	216	[3]	204
Held-to-maturity investment securities, gross unrealized gains	[2],[4]	0		3
Held-to-maturity investment securities, gross unrealized losses	[2],[4]	(25)		(1)
Held-to-maturity investment securities, fair value	[2],[4]	$ 191	[3]	$ 206
[1]Available-for-sale investment securities are reported at fair value.[2]Held-to-maturity investment securities are reported at amortized cost.[3]Maturities of RMBS are reflective of the contractual maturities of the investment.[4]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	Sep. 30, 2022 USD ($) securities	Dec. 31, 2021 USD ($) securities
US Treasury and Government
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, continuous unrealized loss position, number of securities | securities	54	2
Available-for-sale investment securities, continuous unrealized loss position, less than 12 months, fair value	$ 5,863	$ 110
Available-for-sale securities, continuous unrealized loss position, less than 12 months, accumulated loss	(163)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, fair value	106	0
Available-for-sale investment securities, continuous unrealized loss position, more than 12 months, unrealized losses	$ (3)	$ 0
Residential Mortgage-Backed Securities - Agency [Member]
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, continuous unrealized loss position, number of securities | securities	28	1
Available-for-sale investment securities, continuous unrealized loss position, less than 12 months, fair value	$ 584	$ 7
Available-for-sale securities, continuous unrealized loss position, less than 12 months, accumulated loss	(28)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, fair value	5	0
Available-for-sale investment securities, continuous unrealized loss position, more than 12 months, unrealized losses	$ (1)	$ 0

Investments (Schedule of Maturi

Investments (Schedule of Maturities of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities) (Details) - USD ($) $ in Millions		Sep. 30, 2022		Dec. 31, 2021
Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost		$ 1,726
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost		4,612
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost		45
Available-for-sale investment securities, debt maturities, after ten years, amortized cost		493
Available-for-sale investment securities, amortized cost	[1]	6,876		$ 6,549
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		216
Held-to-maturity investment securities, amortized cost	[2]	216		204
Available-for-sale investment securities, debt maturities, one year or less, fair value		1,711
Available-for-sale investment securities, debt maturities, after one year through five years, fair value		4,458
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value		43
Available-for-sale investment securities, debt maturities, after ten years, fair value		469
Available-for-sale investment securities, fair value	[1]	6,681		6,700
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		191
Held-to-maturity investment securities, fair value	[2]	191		206
US Treasury and Government
Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost		1,724
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost		4,534
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]	6,258		6,368
Available-for-sale investment securities, debt maturities, one year or less, fair value		1,709
Available-for-sale investment securities, debt maturities, after one year through five years, fair value		4,383
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]	6,092		6,514
Residential Mortgage-Backed Securities - Agency [Member]
Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost	[3]	2
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost	[3]	78
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost	[3]	45
Available-for-sale investment securities, debt maturities, after ten years, amortized cost	[3]	493
Available-for-sale investment securities, amortized cost	[1]	618	[3]	181
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]	216
Held-to-maturity investment securities, amortized cost	[2],[4]	216	[3]	204
Available-for-sale investment securities, debt maturities, one year or less, fair value	[3]	2
Available-for-sale investment securities, debt maturities, after one year through five years, fair value	[3]	75
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value	[3]	43
Available-for-sale investment securities, debt maturities, after ten years, fair value	[3]	469
Available-for-sale investment securities, fair value	[1]	589	[3]	186
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]	191
Held-to-maturity investment securities, fair value	[2],[4]	$ 191	[3]	$ 206
[1]Available-for-sale investment securities are reported at fair value.[2]Held-to-maturity investment securities are reported at amortized cost.[3]Maturities of RMBS are reflective of the contractual maturities of the investment.[4]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						9 Months Ended
	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments (in segments) | segment							2
Allowance for credit losses	$ 7,061	$ 6,757		$ 6,822	$ 6,861	$ 7,026	$ 7,061	$ 6,861	$ 8,226
Allowance for credit losses, period increase (decrease)	$ 304						$ 239
Expected EOY Unemployment Rate	4.20%						4.20%
Expected Future Peak Unemployment Rate	4.60%						4.60%
Expected EOY2 Unemployment Rate	0.045						0.045
Expected EY Annualized Increase in GDP	(0.20%)						(0.20%)
Expected EOY2 Annualized Increase in GDP	1.80%						1.80%
Reasonable and supportable forecast period	18 months	18 months	18 months	18 months	18 months	18 months
Reversion period							12 months	12 months
Percentage of defaulted loans that were charged off at the end of the month in which they defaulted (in percent)	60%				62%		62%	66%
Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent Loan Qualification Period							30 days
Credit Card Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 5,561	$ 5,307		$ 5,273	$ 5,298	$ 5,409	$ 5,561	$ 5,298	6,491
Maximum period of payment reduction for the temporary reduced payment program (in months)							12 months
Permanent workout program maturity (in months)							72 months
Interest and fees forgiven due to credit card loan modification program	7						$ 20	28
Total Other Loans [Member] | Private Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	829	832		843	857	828	829	857	840
Private student loans in repayment	5,500			5,800			5,500
Private student loans in forbearance	76			64			76
Total Other Loans [Member] | Personal Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 620	$ 572		$ 662	$ 662	$ 745	$ 620	$ 662	$ 857
Maximum period of payment reduction for the temporary reduced payment program (in months)							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		Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 104,908		$ 93,684
Allowance for credit losses		(7,061)	$ (6,757)	(6,822)	$ (6,861)	$ (7,026)	$ (8,226)
Net loan receivables		97,847		86,862
Variable Interest Entity, Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		24,885		25,449
Allowance for credit losses		(1,153)		(1,371)
Credit Card Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[1]	24,703		25,242
Allowance for credit losses	[1]	(1,153)		(1,371)
Net loan receivables		23,550		23,871
Seller's interest		10,345		11,918
Private Student Loan Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		182		207
Credit Card Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[2],[3]	83,630		74,369
Allowance for credit losses		(5,561)	(5,307)	(5,273)	(5,298)	(5,409)	(6,491)
Accrued interest receivable		507		423
Credit Card Loans [Member] | Credit Card Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investors' interest		14,400		13,300
Seller's interest		10,300		11,900
Total Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	21,278		19,315
Total Other Loans [Member] | Private Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4],[5]	10,349		10,113
Allowance for credit losses		(829)	(832)	(843)	(857)	(828)	(840)
Accrued interest receivable		504		443
Total Other Loans [Member] | Private Student Loans [Member] | Private Student Loan Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Asset Pledged as Collateral [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		182		207
Total Other Loans [Member] | Personal Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	7,674		6,936
Allowance for credit losses		(620)	(572)	(662)	(662)	(745)	(857)
Accrued interest receivable		43		42
Total Other Loans [Member] | Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	3,255		2,266
Allowance for credit losses		(51)	$ (46)	(44)	$ (44)	$ (44)	$ (38)
Accrued interest receivable		$ 9		$ 6
[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.[2]Amounts include carrying values of $14.4 billion and $13.3 billion underlying investors' interest in trust debt at September 30, 2022 and December 31, 2021, respectively, and $10.3 billion and $11.9 billion in seller's interest at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information.[3]Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $507 million and $423 million at September 30, 2022 and December 31, 2021, respectively.[4]Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $504 million, $43 million and $9 million, respectively, at September 30, 2022 and $443 million, $42 million and $6 million, respectively, at December 31, 2021.[5]Amounts include carrying values of $182 million and $207 million in loans pledged as collateral against the note issued from a private student loan securitization trust at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information.

Loan Receivables (Schedule of C

Loan Receivables (Schedule of Credit Risk Profile by FICO Score and Origination Year) (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		$ 104,908	$ 93,684
Revolving line-of-credit arrangements that were converted to term loans as a result of a TDR program, ending balance		663	813
Credit Card Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[1],[2]	83,630	74,369
Credit Card Loans [Member] | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card	[3]	$ 68,999	$ 62,262
FICO distribution %, credit card	[3]	83%	84%
Credit Card Loans [Member] | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card	[3]	$ 14,631	$ 12,107
FICO distribution %, credit card	[3]	17%	16%
Total Other Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[4]	$ 21,278	$ 19,315
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[4],[5]	10,349	10,113
Total Other Loans [Member] | Private Student Loans [Member] | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022	[6],[7]	$ 949
FICO distribution %, originated in 2022	[6],[7]	93%
Loan receivables, originated in 2021	[6],[7]	$ 1,699	$ 1,251
FICO distribution %, originated in 2021	[6],[7]	96%	94%
Loan receivables, originated in 2020	[6],[7]	$ 1,402	$ 1,561
FICO distribution %, originated in 2020	[6],[7]	96%	96%
Loan receivables, originated in 2019	[6],[7]	$ 1,254	$ 1,439
FICO distribution %, originated in 2019	[6],[7]	95%	96%
Loan receivables, originated in 2018	[6],[7]	$ 973	$ 1,147
FICO distribution %, originated in 2018	[6],[7]	94%	95%
Loan receivables, originated prior to 2018	[6],[7]	$ 3,521	$ 4,215
FICO distribution %, originated prior to 2018	[6],[7]	94%	94%
Loan receivables	[6],[7]	$ 9,798	$ 9,613
FICO distribution %, loan receivables	[6],[7]	95%	95%
Total Other Loans [Member] | Private Student Loans [Member] | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022	[6],[7]	$ 69
FICO distribution %, originated in 2022	[6],[7]	7%
Loan receivables, originated in 2021	[6],[7]	$ 79	$ 73
FICO distribution %, originated in 2021	[6],[7]	4%	6%
Loan receivables, originated in 2020	[6],[7]	$ 61	$ 59
FICO distribution %, originated in 2020	[6],[7]	4%	4%
Loan receivables, originated in 2019	[6],[7]	$ 62	$ 61
FICO distribution %, originated in 2019	[6],[7]	5%	4%
Loan receivables, originated in 2018	[6],[7]	$ 59	$ 59
FICO distribution %, originated in 2018	[6],[7]	6%	5%
Loan receivables, originated prior to 2018	[6],[7]	$ 221	$ 248
FICO distribution %, originated prior to 2018	[6],[7]	6%	6%
Loan receivables	[6],[7]	$ 551	$ 500
FICO distribution %, loan receivables	[6],[7]	5%	5%
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[4]	$ 7,674	$ 6,936
Total Other Loans [Member] | Personal Loans [Member] | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022		$ 3,371
FICO distribution %, originated in 2022		99%
Loan receivables, originated in 2021		$ 2,238	$ 3,326
FICO distribution %, originated in 2021		97%	99%
Loan receivables, originated in 2020		$ 942	$ 1,622
FICO distribution %, originated in 2020		96%	98%
Loan receivables, originated in 2019		$ 550	$ 1,052
FICO distribution %, originated in 2019		93%	94%
Loan receivables, originated in 2018		$ 210	$ 435
FICO distribution %, originated in 2018		89%	91%
Loan receivables, originated prior to 2018		$ 113	$ 276
FICO distribution %, originated prior to 2018		83%	87%
Loan receivables		$ 7,424	$ 6,711
FICO distribution %, loan receivables		97%	97%
Total Other Loans [Member] | Personal Loans [Member] | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022		$ 38
FICO distribution %, originated in 2022		1%
Loan receivables, originated in 2021		$ 80	$ 37
FICO distribution %, originated in 2021		3%	1%
Loan receivables, originated in 2020		$ 39	$ 39
FICO distribution %, originated in 2020		4%	2%
Loan receivables, originated in 2019		$ 43	$ 62
FICO distribution %, originated in 2019		7%	6%
Loan receivables, originated in 2018		$ 27	$ 44
FICO distribution %, originated in 2018		11%	9%
Loan receivables, originated prior to 2018		$ 23	$ 43
FICO distribution %, originated prior to 2018		17%	13%
Loan receivables		$ 250	$ 225
FICO distribution %, loan receivables		3%	3%
[1]Amounts include carrying values of $14.4 billion and $13.3 billion underlying investors' interest in trust debt at September 30, 2022 and December 31, 2021, respectively, and $10.3 billion and $11.9 billion in seller's interest at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student 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 condensed consolidated statements of financial condition, was $507 million and $423 million at September 30, 2022 and December 31, 2021, respectively.[3]Amounts include $663 million and $813 million of revolving line-of-credit arrangements that were converted to term loans as a result of a troubled debt restructuring ("TDR") program as of September 30, 2022 and December 31, 2021, respectively.[4]Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $504 million, $43 million and $9 million, respectively, at September 30, 2022 and $443 million, $42 million and $6 million, respectively, at December 31, 2021.[5]Amounts include carrying values of $182 million and $207 million in loans pledged as collateral against the note issued from a private student loan securitization trust at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information.[6]A majority of private student loan originations occur in the third quarter and disbursements can span multiple calendar years.[7]FICO score represents the higher credit score of the cosigner or borrower.

Loan Receivables (Schedule of D

Loan Receivables (Schedule of Delinquent Loans by Origination Year) (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		$ 104,908	$ 93,684
Credit Card Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[1],[2]	83,630	74,369
Total Other Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	21,278	19,315
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3],[4]	10,349	10,113
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	7,674	6,936
30-89 Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		1,197	833
30-89 Days Delinquent [Member] | Credit Card Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		991	670
30-89 Days Delinquent [Member] | Total Other Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		206	163
30-89 Days Delinquent [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022	[5]	0
Loan receivables, originated in 2021	[5]	6	0
Loan receivables, originated in 2020	[5]	14	4
Loan receivables, originated in 2019	[5]	19	9
Loan receivables, originated in 2018	[5]	20	14
Loan receivables, originated prior to 2018	[5]	99	94
Loan receivables	[5]	158	121
30-89 Days Delinquent [Member] | Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022		5
Loan receivables, originated in 2021		12	5
Loan receivables, originated in 2020		7	7
Loan receivables, originated in 2019		8	11
Loan receivables, originated in 2018		4	6
Loan receivables, originated prior to 2018		3	6
Loan receivables		39	35
90 or More Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		837	618
90 or More Days Delinquent [Member] | Credit Card Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		770	562
90 or More Days Delinquent [Member] | Total Other Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		67	56
90 or More Days Delinquent [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022	[5]	0
Loan receivables, originated in 2021	[5]	0	0
Loan receivables, originated in 2020	[5]	2	1
Loan receivables, originated in 2019	[5]	5	2
Loan receivables, originated in 2018	[5]	7	4
Loan receivables, originated prior to 2018	[5]	29	29
Loan receivables	[5]	43	36
90 or More Days Delinquent [Member] | Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022		1
Loan receivables, originated in 2021		4	1
Loan receivables, originated in 2020		3	2
Loan receivables, originated in 2019		3	4
Loan receivables, originated in 2018		2	3
Loan receivables, originated prior to 2018		1	3
Loan receivables		14	13
Total Past Due [Member] | Credit Card Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		1,761	1,232
Total Past Due [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022	[5]	0
Loan receivables, originated in 2021	[5]	6	0
Loan receivables, originated in 2020	[5]	16	5
Loan receivables, originated in 2019	[5]	24	11
Loan receivables, originated in 2018	[5]	27	18
Loan receivables, originated prior to 2018	[5]	128	123
Loan receivables	[5]	201	157
Total Past Due [Member] | Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, originated in 2022		6
Loan receivables, originated in 2021		16	6
Loan receivables, originated in 2020		10	9
Loan receivables, originated in 2019		11	15
Loan receivables, originated in 2018		6	9
Loan receivables, originated prior to 2018		4	9
Loan receivables		$ 53	$ 48
[1]Amounts include carrying values of $14.4 billion and $13.3 billion underlying investors' interest in trust debt at September 30, 2022 and December 31, 2021, respectively, and $10.3 billion and $11.9 billion in seller's interest at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student 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 condensed consolidated statements of financial condition, was $507 million and $423 million at September 30, 2022 and December 31, 2021, respectively.[3]Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $504 million, $43 million and $9 million, respectively, at September 30, 2022 and $443 million, $42 million and $6 million, respectively, at December 31, 2021.[4]Amounts include carrying values of $182 million and $207 million in loans pledged as collateral against the note issued from a private student loan securitization trust at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information.[5]Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency.

Loan Receivables (Schedule of_2

Loan Receivables (Schedule of Changes in the Allowance for Credit Losses) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, balance at beginning of period		$ 6,757	$ 7,026	$ 6,822	$ 8,226
Provision for credit losses(1)	[1]	743	160	1,475	(47)
Charge-offs		(659)	(556)	(1,921)	(1,991)
Recoveries		220	231	685	673
Net charge-offs		(439)	(325)	(1,236)	(1,318)
Allowance for credit losses, balance at end of period		7,061	6,861	7,061	6,861
Credit loss build (release) on unfunded commitments		30	25	1	2
Credit Card Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, balance at beginning of period		5,307	5,409	5,273	6,491
Provision for credit losses(1)	[1]	649	178	1,395	(18)
Charge-offs		(592)	(495)	(1,720)	(1,778)
Recoveries		197	206	613	603
Net charge-offs		(395)	(289)	(1,107)	(1,175)
Allowance for credit losses, balance at end of period		5,561	5,298	5,561	5,298
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, balance at beginning of period		832	828	843	840
Provision for credit losses(1)	[1]	20	46	54	61
Charge-offs		(29)	(23)	(86)	(63)
Recoveries		6	6	18	19
Net charge-offs		(23)	(17)	(68)	(44)
Allowance for credit losses, balance at end of period		829	857	829	857
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, balance at beginning of period		572	745	662	857
Provision for credit losses(1)	[1]	69	(64)	19	(96)
Charge-offs		(38)	(38)	(115)	(150)
Recoveries		17	19	54	51
Net charge-offs		(21)	(19)	(61)	(99)
Allowance for credit losses, balance at end of period		620	662	620	662
Total Other Loans [Member] | Other Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, balance at beginning of period		46	44	44	38
Provision for credit losses(1)	[1]	5	0	7	6
Charge-offs		0	0	0	0
Recoveries		0	0	0	0
Net charge-offs		0	0	0	0
Allowance for credit losses, balance at end of period		$ 51	$ 44	$ 51	$ 44
[1]Excludes a $30 million and $25 million adjustment of the liability for expected credit losses on unfunded commitments for the three months ended September 30, 2022 and 2021, respectively, and $1 million and $2 million for the nine months ended September 30, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company's condensed consolidated statements of financial condition.

Loan Receivables (Schedule of N

Loan Receivables (Schedule of Net Charge-offs of Interest and Fee Revenues on Loan Receivables) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Receivables [Abstract]
Interest and fees accrued subsequently charged-off, net of recoveries (recorded as a reduction of interest income)	$ 74	$ 57	$ 209	$ 232
Fees accrued subsequently charged-off, net of recoveries (recorded as a reduction to other income)	$ 24	$ 15	$ 68	$ 59

Loan Receivables (Schedule of_3

Loan Receivables (Schedule of Delinquent and Non-Accruing Loans) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Loan receivables		$ 104,908		$ 104,908		$ 93,684
Loan receivables, 90 or more days delinquent and accruing		797		797		575
Loan receivables, total non-accruing	[1]	224		224		225
30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		1,197		1,197		833
90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		837		837		618
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		2,034		2,034		1,451
Credit Card Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[2],[3]	83,630		83,630		74,369
Loan receivables, 90 or more days delinquent and accruing		741		741		527
Loan receivables, total non-accruing	[1]	188		188		194
Estimated gross interest income that would have been recorded based on original terms		6	$ 6	17	$ 21
Credit Card Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		991		991		670
Credit Card Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		770		770		562
Credit Card Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		1,761		1,761		1,232
Total Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	21,278		21,278		19,315
Loan receivables, 90 or more days delinquent and accruing		56		56		48
Loan receivables, total non-accruing	[1]	36		36		31
Total Other Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		206		206		163
Total Other Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		67		67		56
Total Other Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		273		273		219
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4],[5]	10,349		10,349		10,113
Loan receivables, 90 or more days delinquent and accruing		42		42		35
Loan receivables, total non-accruing	[1]	8		8		8
Total Other Loans [Member] | Private Student Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[6]	158		158		121
Total Other Loans [Member] | Private Student Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[6]	43		43		36
Total Other Loans [Member] | Private Student Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		201		201		157
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	7,674		7,674		6,936
Loan receivables, 90 or more days delinquent and accruing		13		13		12
Loan receivables, total non-accruing	[1]	7		7		7
Total Other Loans [Member] | Personal Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		39		39		35
Total Other Loans [Member] | Personal Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		14		14		13
Total Other Loans [Member] | Personal Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		53		53		48
Total Other Loans [Member] | Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	3,255		3,255		2,266
Loan receivables, 90 or more days delinquent and accruing		1		1		1
Loan receivables, total non-accruing	[1]	21		21		16
Total Other Loans [Member] | Other Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		9		9		7
Total Other Loans [Member] | Other Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		10		10		7
Total Other Loans [Member] | Other Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		$ 19		$ 19		$ 14
[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 $6 million for the three months ended September 30, 2022 and 2021, and $17 million and $21 million for the nine months ended September 30, 2022 and 2021, 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.[2]Amounts include carrying values of $14.4 billion and $13.3 billion underlying investors' interest in trust debt at September 30, 2022 and December 31, 2021, respectively, and $10.3 billion and $11.9 billion in seller's interest at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information.[3]Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $507 million and $423 million at September 30, 2022 and December 31, 2021, respectively.[4]Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was $504 million, $43 million and $9 million, respectively, at September 30, 2022 and $443 million, $42 million and $6 million, respectively, at December 31, 2021.[5]Amounts include carrying values of $182 million and $207 million in loans pledged as collateral against the note issued from a private student loan securitization trust at September 30, 2022 and December 31, 2021, respectively. See Note 4: Credit Card and Private Student Loan Securitization Activities for additional information.[6]Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency.

Loan Receivables (Schedule of_4

Loan Receivables (Schedule of Loans That Entered a Modification Program During the Period) (Details) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022 USD ($) accounts	Sep. 30, 2021 USD ($) accounts	Sep. 30, 2022 USD ($) accounts	Sep. 30, 2021 USD ($) accounts
Credit Card Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts that entered a TDR program during the period, number of accounts (in accounts) | accounts	[1]	63,803	13,964	167,655	48,887
Accounts that entered a TDR program during the period, balances	[1]	$ 414	$ 86	$ 1,071	$ 315
Accounts that entered a TDR program during the period and were converted from revolving line-of-credit arrangements to term loans, balances		$ 80	$ 72	$ 225	$ 288
Total Other Loans [Member] | Private Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts that entered a TDR program during the period, number of accounts (in accounts) | accounts		1,863	102	5,141	355
Accounts that entered a TDR program during the period, balances		$ 36	$ 2	$ 96	$ 7
Total Other Loans [Member] | Personal Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts that entered a TDR program during the period, number of accounts (in accounts) | accounts		1,799	888	4,561	3,102
Accounts that entered a TDR program during the period, balances		$ 25	$ 10	$ 62	$ 38
[1]Accounts that entered a credit card TDR program include $80 million and $72 million that were converted from revolving line-of-credit arrangements to term loans during the three months ended September 30, 2022 and 2021, respectively, and $225 million and $288 million for the nine months ended September 30, 2022 and 2021, respectively.

Loan Receivables (Schedule of T

Loan Receivables (Schedule of Troubled Debt Restructurings That Subsequently Defaulted) (Details) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022 USD ($) accounts	Sep. 30, 2021 USD ($) accounts	Sep. 30, 2022 USD ($) accounts missed_payments	Sep. 30, 2021 USD ($) accounts
Credit Card Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDRs that subsequently defaulted, number of accounts (in accounts) | accounts	[1],[2]	7,784	3,679	18,022	14,205
TDRs that subsequently defaulted, aggregated outstanding balances upon default | $	[1],[2]	$ 38	$ 21	$ 89	$ 84
Amount of missed payments after which a customer defaults from a TDR program (in payments) | missed_payments				2
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDRs that subsequently defaulted, number of accounts (in accounts) | accounts	[3]	391	83	658	214
TDRs that subsequently defaulted, aggregated outstanding balances upon default | $	[3]	$ 7	$ 2	$ 12	$ 5
Delinquency days to default (in days)				60 days
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDRs that subsequently defaulted, number of accounts (in accounts) | accounts	[1]	606	399	1,142	1,287
TDRs that subsequently defaulted, aggregated outstanding balances upon default | $	[1]	$ 9	$ 6	$ 16	$ 18
Amount of missed payments after which a customer defaults from a TDR program (in payments) | missed_payments				2
[1]For credit card loans and personal loans, a customer defaults from a loan modification program after either two consecutive missed payments or at charge-off, depending on the program. The outstanding balance upon default is generally the loan balance at the end of the month prior to default.[2]For credit card loans that default from a temporary loan modification program, accounts revert back to the pre-modification terms and charging privileges remain suspended in most cases.[3]For student loans, a customer defaults from a loan modification after they are 60 or more days delinquent. The outstanding balance upon default is generally the loan balance at the end of the month prior to default

Credit Card and Private Stude_3

Credit Card and Private Student Loan Securitization Activities (Narrative) (Details)	9 Months Ended
	Sep. 30, 2022 classes
Variable Interest Entity, Primary Beneficiary [Member] | 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 and Private Stude_4

Credit Card and Private Student Loan Securitization Activities (Schedule of Restricted Credit Card Securitized Assets) (Details) - USD ($) $ in Millions		Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Restricted cash		$ 1,866		$ 2,582	$ 32
Loan receivables		104,908		93,684
Allowance for credit losses allocated to securitized loan receivables		(7,061)	$ (6,757)	(6,822)	$ (6,861)	$ (7,026)	$ (8,226)
Net loan receivables		97,847		86,862
Other assets		4,002		3,906
Total assets		121,886		110,242
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Restricted cash		1,866		2,582
Loan receivables		24,885		25,449
Allowance for credit losses allocated to securitized loan receivables		(1,153)		(1,371)
Other assets		6		4
Variable Interest Entity, Primary Beneficiary [Member] | Credit Card Securitization Trusts [Member]
Variable Interest Entity [Line Items]
Restricted cash		1,858		2,574
Investors' interests held by third-party investors		11,025		9,425
Investors' interests held by wholly owned subsidiaries of Discover Bank		3,333		3,899
Seller's interest		10,345		11,918
Loan receivables	[1]	24,703		25,242
Allowance for credit losses allocated to securitized loan receivables	[1]	(1,153)		(1,371)
Net loan receivables		23,550		23,871
Other assets		5		3
Total assets		$ 25,413		$ 26,448
[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.

Credit Card and Private Stude_5

Credit Card and Private Student Loan Securitization Activities (Schedule of Restricted Student Loan Securitized Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Variable Interest Entity [Line Items]
Restricted cash	$ 1,866	$ 2,582	$ 32
Loan receivables	104,908	93,684
Total assets	121,886	110,242
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Restricted cash	1,866	2,582
Loan receivables	24,885	25,449
Variable Interest Entity, Primary Beneficiary [Member] | Private Student Loan Securitization Trusts [Member]
Variable Interest Entity [Line Items]
Restricted cash	8	8
Loan receivables	182	207
Total assets	$ 190	$ 215

Deposits (Narrative) (Details)

Deposits (Narrative) (Details)	9 Months Ended
	Sep. 30, 2022 channels
Deposits [Abstract]
Deposits source channels (in number of channels)	2

Deposits (Schedule of Certifica

Deposits (Schedule of Certificates of Deposit Maturities) (Details) $ in Millions	Sep. 30, 2022 USD ($)
Deposits [Abstract]
2022	$ 4,136
2023	12,675
2024	4,820
2025	1,935
2026	1,223
Thereafter	2,204
Total	$ 26,993

Long-Term Borrowings (Narrative

Long-Term Borrowings (Narrative) (Details) - USD ($) $ in Billions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Federal Home Loan Bank, advances, general debt obligations, maximum amount available	$ 2.1	$ 1.4
Federal Home Loan Bank advances		1.3
Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Securitized Debt [Member]
Debt Instrument [Line Items]
Total commitment of secured credit facilities	3.5	4
Total used commitment of secured credit facilities	$ 0	$ 0.5

Long-Term Borrowings (Schedule

Long-Term Borrowings (Schedule of Long-Term Borrowings and Weighted Average Interest Rates) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term borrowings (in dollars)		$ 20,177	$ 18,477
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member]
Debt Instrument [Line Items]
Long-term borrowings (in dollars)		$ 11,004	8,935
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Fixed-Rate Asset-Backed Securities [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[1]	2.41%
Long-term borrowings (in dollars)	[1]	$ 8,405	5,588
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Fixed-Rate Asset-Backed Securities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	0.58%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Fixed-Rate Asset-Backed Securities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	3.56%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[2]	3.26%
Long-term borrowings (in dollars)	[2]	$ 2,599	3,347
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[2]	3.15%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[2]	3.42%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | 1-Month LIBOR [Member]
Debt Instrument [Line Items]
Interest rate terms		1-month LIBOR + 33 to 60 basis points
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | 1-Month LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.33%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | 1-Month LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.60%
Securitized Debt [Member] | Student Loan Trust [Member]
Debt Instrument [Line Items]
Long-term borrowings (in dollars)		$ 88	104
Securitized Debt [Member] | Student Loan Trust [Member] | Floating-Rate Asset-Backed Securities [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[3],[4]	7.25%
Long-term borrowings (in dollars)	[3],[4]	$ 88	104
Securitized Debt [Member] | Student Loan Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[3],[4]	7.25%
Securitized Debt [Member] | Student Loan Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Interest rate terms		Prime rate + 100 basis points
Basis spread on variable rate		1%
Securitized Debt [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Long-term borrowings (in dollars)		$ 11,092	9,039
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Senior Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate		4.06%
Long-term borrowings (in dollars)		$ 3,088	3,382
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate		3.75%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Senior Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		4.50%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Retail Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate		3.75%
Long-term borrowings (in dollars)		$ 166	166
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Retail Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate		2.85%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Retail Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		4.40%
Senior Notes [Member] | Discover Bank [Member] | Fixed-Rate Senior Bank Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[1]	3.63%
Long-term borrowings (in dollars)	[1]	$ 5,344	5,385
Senior Notes [Member] | Discover Bank [Member] | Fixed-Rate Senior Bank Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	2.45%
Senior Notes [Member] | Discover Bank [Member] | Fixed-Rate Senior Bank Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	4.65%
Subordinated Debt [Member] | Discover Bank [Member] | Fixed-Rate Subordinated Bank Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[1]	4.68%
Long-term borrowings (in dollars)	[1]	$ 487	$ 505
Subordinated Debt [Member] | Discover Bank [Member] | Fixed-Rate Subordinated Bank Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	4.68%
[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 London Interbank Offered Rate ("LIBOR") or Overnight Index Swap ("OIS") rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 15: Derivatives and Hedging Activities.[2]DCENT floating-rate asset-backed securities include issuances with the following interest rate terms: 1-month LIBOR + 33 to 60 basis points as of September 30, 2022.[3]Repayment of this debt is dependent upon the timing of principal and interest payments on the underlying private student loans. The date shown represents the final maturity date.[4]The private student loan securitization trust floating-rate asset-backed security includes an issuance with the following interest rate term: Prime rate + 100 basis points as of September 30, 2022.

Long-Term Borrowings (Schedul_2

Long-Term Borrowings (Schedule of Long-Term Borrowings Maturities) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022	$ 2,331
2023	3,283
2024	3,729
2025	5,167
2026	2,658
Thereafter	3,009
Total	$ 20,177	$ 18,477

Preferred Stock (Schedule of St

Preferred Stock (Schedule of Stock by Class) (Details) - USD ($) $ / shares in Units, $ in Millions				9 Months Ended
		Jul. 22, 2020	Oct. 31, 2017	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively				$ 1,056	$ 1,056
Preferred stock, par or stated value per share				$ 0.01	$ 0.01
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, earliest redemption date				Oct. 30, 2027
Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, depositary shares issued (in number of depositary shares)				1,070,000	1,070,000
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively				$ 1,056	$ 1,056
Preferred Stock [Member] | Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, initial issue date	[1]		Oct. 31, 2017
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, Percentage	[1],[4]			5.50%
Preferred stock, depositary shares issued (in number of depositary shares)	[1]			570,000	570,000
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	[1]			$ 563	$ 563
Depositary shares represented by one preferred share				100
Preferred stock, par or stated value per share				$ 0.01
Redemption period of preferred stock following regulatory capital treatment event				90 days
Preferred stock dividend payment rate variable, rate to be used in future periods				3-month LIBOR
Preferred Stock [Member] | Series C Preferred Stock [Member] | Three-Month London Interbank Offered Rate (LIBOR)
Class of Stock [Line Items]
Preferred stock basis spread on variable rate, rate to be used in future periods				3.076%
Preferred Stock [Member] | Series D Preferred Stock
Class of Stock [Line Items]
Preferred stock, initial issue date	[1]	Jun. 22, 2020
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, Percentage	[1],[6]			6.125%
Preferred stock, depositary shares issued (in number of depositary shares)	[1]			500,000	500,000
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	[1]			$ 493	$ 493
Depositary shares represented by one preferred share				100
Preferred stock, par or stated value per share				$ 0.01
Redemption period of preferred stock following regulatory capital treatment event				90 days
Preferred stock dividend payment rate variable, rate to be used in future periods				5-year Treasury
Dividend rate reset				5 years
Preferred Stock [Member] | Series D Preferred Stock | Five-Year Treasury Rate
Class of Stock [Line Items]
Preferred stock basis spread on variable rate, 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.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period			$ (94)
Net change in accumulated other comprehensive income (loss), net of tax	$ (102)	$ (29)	(259)	$ (113)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(353)		(353)
AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(251)	(39)	(94)	45
Net change in accumulated other comprehensive income (loss), net of tax	(102)	(29)	(259)	(113)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(353)	(68)	(353)	(68)
Unrealized Gains (Losses) on Available-for-Sale Investment Securities, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(48)	198	114	284
Net change in accumulated other comprehensive income (loss), net of tax	(100)	(29)	(262)	(115)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(148)	169	(148)	169
Gains (Losses) on Cash Flow Hedges, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(4)	(10)	(9)	(12)
Net change in accumulated other comprehensive income (loss), net of tax	(2)	0	3	2
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(6)	(10)	(6)	(10)
Gains (Losses) on Pension Plan, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(199)	(227)	(199)	(227)
Net change in accumulated other comprehensive income (loss), net of tax	0	0	0	0
Accumulated other comprehensive income (loss), net of tax, balance at end of period	$ (199)	$ (227)	$ (199)	$ (227)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Schedule of Other Comprehensive Income Before Reclassifications and Amounts Reclassified from AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
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	$ (133)	$ (38)	$ (346)	$ (152)
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, tax benefit (expense)	33	9	84	37
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, net of tax	(100)	(29)	(262)	(115)
Available-for-sale investment securities, net change, before tax	(133)	(38)	(346)	(152)
Available-for-sale investment securities, net change, tax benefit (expense)	33	9	84	37
Available-for-sale investment securities, net change, net of tax	(100)	(29)	(262)	(115)
Cash flow hedges, net unrealized gains (losses) arising during the period, before tax	(4)	0	(2)	0
Cash flow hedges, net unrealized gains (losses) arising during the period, tax benefit (expense)	1	1	0	1
Cash flow hedges, net unrealized gains (losses) arising during the period, net of tax	(3)	1	(2)	1
Cash flow hedges, amounts reclassified from AOCI, before tax	2	0	4	2
Cash flow hedges, amounts reclassified from AOCI, tax benefit (expense)	(1)	(1)	1	(1)
Cash flow hedges, amounts reclassified from AOCI, net of tax	1	(1)	5	1
Cash flow hedges, net change, before tax	(2)	0	2	2
Cash flow hedges, net change, tax benefit (expense)	0	0	1	0
Cash flow hedges, net change, net of tax	$ (2)	$ 0	$ 3	$ 2

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Income Tax Disclosure [Abstract]
Change in Income Tax Expense (Benefit), Amount	$ 292

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Income Tax Rate Calculation) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 1,318	$ 1,402	$ 4,388	$ 5,703
Income tax expense	$ 312	$ 311	$ 1,029	$ 1,321
Effective income tax rate (in percent)	23.60%	22.20%	23.40%	23.20%

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Basic and Diluted EPS ) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income	$ 1,006	$ 1,091	$ 3,359	$ 4,382
Preferred stock dividends, income statement impact	(31)	(30)	(62)	(69)
Net income available to common stockholders	975	1,061	3,297	4,313
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	(8)	(6)	(20)	(24)
Net income allocated to common stockholders	967	1,055	3,277	4,289
Net income (loss) available to common stockholders, diluted	$ 967	$ 1,055	$ 3,277	$ 4,289
Denominator:
Weighted-average shares of common stock outstanding	273	298	279	303
Effect of dilutive common stock equivalents	1	0	0	0
Weighted-average shares of common stock outstanding and common stock equivalents	274	298	279	303
Basic earnings per common share (in dollars per share)	$ 3.54	$ 3.54	$ 11.74	$ 14.17
Diluted earnings per common share (in dollars per share)	$ 3.54	$ 3.54	$ 11.73	$ 14.16

Capital Adequacy (Schedule of M

Capital Adequacy (Schedule of Minimum and Well-Capitalized Requirements) (Details) $ in Millions		Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Parent Company [Member]
Compliance with Regulatory Capital Requirements [Line Items]
Total capital to risk-weighted assets, actual amount		$ 17,867	$ 17,150
Total capital to risk-weighted assets, actual ratio (in percent)	[1]	0.167	0.176
Total capital to risk-weighted assets, minimum capital requirements, amount		$ 8,573	$ 7,775
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]	$ 10,716	$ 9,719
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		$ 15,994	$ 15,395
Tier I capital to risk-weighted assets, actual ratio (in percent)	[1]	0.149	0.158
Tier I capital to risk-weighted assets, minimum capital requirements, amount		$ 6,430	$ 5,831
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]	$ 6,430	$ 5,831
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		$ 15,994	$ 15,395
Tier I capital to average assets, actual ratio (in percent)	[1]	0.134	0.139
Tier I capital to average assets, minimum capital requirements, amount		$ 4,782	$ 4,432
Tier I capital to average assets, minimum capital requirements, ratio (in percent)		0.040	0.040
CET1 capital to risk-weighted assets, actual amount		$ 14,938	$ 14,339
CET1 capital to risk-weighted assets, actual ratio (in percent)	[1]	0.139	0.148
CET1 capital to risk-weighted assets, minimum capital requirements, amount		$ 4,822	$ 4,373
CET1 capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		4.50%	4.50%
Discover Bank [Member]
Compliance with Regulatory Capital Requirements [Line Items]
Total capital to risk-weighted assets, actual amount		$ 15,569	$ 15,957
Total capital to risk-weighted assets, actual ratio (in percent)	[1]	0.147	0.169
Total capital to risk-weighted assets, minimum capital requirements, amount		$ 8,484	$ 7,573
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]	$ 10,605	$ 9,466
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		$ 13,510	$ 13,932
Tier I capital to risk-weighted assets, actual ratio (in percent)	[1]	0.127	0.147
Tier I capital to risk-weighted assets, minimum capital requirements, amount		$ 6,363	$ 5,680
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]	$ 8,484	$ 7,573
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		$ 13,510	$ 13,932
Tier I capital to average assets, actual ratio (in percent)	[1]	0.114	0.128
Tier I capital to average assets, minimum capital requirements, amount		$ 4,737	$ 4,365
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-capitalized, amount	[2]	$ 5,922	$ 5,456
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		$ 13,510	$ 13,932
CET1 capital to risk-weighted assets, actual ratio (in percent)	[1]	0.127	0.147
CET1 capital to risk-weighted assets, minimum capital requirements, amount		$ 4,772	$ 4,260
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]	$ 6,893	$ 6,153
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.[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_3

Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Commitments, Contingencies and Guarantees [Line Items]
Contingent liabilities related to equity method investments	$ 0	$ 0
Merchant Chargeback Guarantees [Member]
Commitments, Contingencies and Guarantees [Line Items]
Escrow deposits and settlement withholdings	11	$ 15
dfs:CounterpartySettlementGuaranteesMember [Member]
Commitments, Contingencies and Guarantees [Line Items]
Guarantor obligations, maximum exposure, undiscounted	110
Contingent liabilities related to equity method investments	0
Commitments to Extend Credit [Member]
Commitments, Contingencies and Guarantees [Line Items]
Unused commitments to extend credit for loans	$ 225,600

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		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Merchant Chargeback Guarantees [Member]
Loss Contingencies [Line Items]
Aggregate sales transaction volume	[1]	$ 66,766	$ 58,107	$ 189,505	$ 160,717
[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 (Narrative) (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
	Dec. 22, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022
Loss Contingencies [Line Items]
Litigation settlement, expense		$ 51	$ 54
Unfavorable Regulatory Action [Member] | Consumer Financial Protection Bureau Consent Order [Member]
Loss Contingencies [Line Items]
Amount of civil money penalty for consent order	$ 25
Maximum [Member] | Pending and Threatened Litigation [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss, portion not accrued				$ 190
Minimum [Member] | Unfavorable Regulatory Action [Member] | Consumer Financial Protection Bureau Consent Order [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 10

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill and Intangible Asset Impairment	$ 0	$ 0	$ 92
Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities, par value	$ 617	$ 617
Available for sale securities, weighted average coupon rate (in percent)	4.04%	4.04%
Available for sale securities, weighted average remaining maturity (in years)		4 years

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions		Sep. 30, 2022		Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value	[1]	$ 6,681		$ 6,700
US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value	[1]	6,092		6,514
Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value	[1]	589	[2]	186
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		6,681		6,700
Fair value of payment services equity investments with readily determinable fair values		58		461
Fair Value, Recurring [Member] | Interest Rate Swaps [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	[3]	2
Derivative financial instruments, liabilities, fair value	[3]	4
Fair Value, Recurring [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		6,092		6,514
Fair Value, Recurring [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		589		186
Fair Value, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		6,084		6,505
Fair value of payment services equity investments with readily determinable fair values		58		461
Fair Value, Recurring [Member] | Level 1 [Member] | Interest Rate Swaps [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	[3]	0
Derivative financial instruments, liabilities, fair value	[3]	0
Fair Value, Recurring [Member] | Level 1 [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		6,084		6,505
Fair Value, Recurring [Member] | Level 1 [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		0		0
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		597		195
Fair value of payment services equity investments with readily determinable fair values		0		0
Fair Value, Recurring [Member] | Level 2 [Member] | Interest Rate Swaps [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	[3]	2
Derivative financial instruments, liabilities, fair value	[3]	4
Fair Value, Recurring [Member] | Level 2 [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		8		9
Fair Value, Recurring [Member] | Level 2 [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		589		186
Fair Value, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		0		0
Fair value of payment services equity investments with readily determinable fair values		0		0
Fair Value, Recurring [Member] | Level 3 [Member] | Interest Rate Swaps [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	[3]	0
Derivative financial instruments, liabilities, fair value	[3]	0
Fair Value, Recurring [Member] | Level 3 [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		0		0
Fair Value, Recurring [Member] | Level 3 [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities, fair value		$ 0		$ 0
[1]Available-for-sale investment securities are reported at fair value.[2]Maturities of RMBS are reflective of the contractual maturities of the investment.[3]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 condensed consolidated statements of financial condition.

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Financial Instruments Measured at Other Than Fair Value) (Details) - USD ($) $ in Millions		Sep. 30, 2022		Dec. 31, 2021
Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		$ 191		$ 206
Net loan receivables		104,096		94,176
Cash and cash equivalents	[1]	10,004		8,750
Restricted cash	[1]	1,866		2,582
Accrued interest receivables	[1],[2]	1,103		948
Time deposits	[3]	26,699		21,490
Short-term debt, fair value				1,750
Long-term borrowings		19,336		19,070
Accrued interest payables	[1],[2]	160		184
Estimated Fair Value [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		10,748		9,057
Estimated Fair Value [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		8,588		10,013
Estimated Fair Value [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		191		206
Estimated Fair Value [Member] | Level 1 [Member]
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]	10,004		8,750
Restricted cash	[1]	1,866		2,582
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
Estimated Fair Value [Member] | Level 1 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimated Fair Value [Member] | Level 1 [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimated Fair Value [Member] | Level 1 [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Estimated Fair Value [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		191		206
Net loan receivables		0		0
Cash and cash equivalents	[1]	0		0
Restricted cash	[1]	0		0
Accrued interest receivables	[1],[2]	1,103		948
Time deposits	[3]	26,699		21,490
Short-term debt, fair value				1,750
Long-term borrowings		19,248		18,966
Accrued interest payables	[1],[2]	160		184
Estimated Fair Value [Member] | Level 2 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		10,660		8,953
Estimated Fair Value [Member] | Level 2 [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		8,588		10,013
Estimated Fair Value [Member] | Level 2 [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		191		206
Estimated Fair Value [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Net loan receivables		104,096		94,176
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		88		104
Accrued interest payables	[1],[2]	0		0
Estimated Fair Value [Member] | Level 3 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		88		104
Estimated Fair Value [Member] | Level 3 [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimated Fair Value [Member] | Level 3 [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		216		204
Net loan receivables		97,847		86,862
Cash and cash equivalents	[1]	10,004		8,750
Restricted cash	[1]	1,866		2,582
Accrued interest receivables	[1],[2]	1,103		948
Time deposits	[3]	26,993		21,125
Short-term debt, fair value				1,750
Long-term borrowings		20,177		18,477
Accrued interest payables	[1],[2]	160		184
Carrying Value [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		11,092		9,039
Carrying Value [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		9,085		9,438
Carrying Value [Member] | Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		216		204
Held-to-maturity investment securities	[4]	191		206
Residential Mortgage-Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities	[4],[5]	$ 191	[6]	$ 206
[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 or accrued expenses and other liabilities, respectively, in the Company's condensed 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.[5]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.[6]Maturities of RMBS are reflective of the contractual maturities of the investment.

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Interest Income
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 11
Financing Receivable [Member]
Derivative [Line Items]
Initial maximum period for cash flow hedges (in years)	3 years	2 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 Millions		Sep. 30, 2022 USD ($) transactions		Sep. 30, 2022 EUR (€) transactions	Sep. 30, 2022 GBP (£) transactions	Sep. 30, 2022 SGD ($) transactions	Sep. 30, 2022 INR (₨) transactions	Sep. 30, 2022 AUD ($) transactions	Dec. 31, 2021 USD ($) transactions		Dec. 31, 2021 EUR (€) transactions	Dec. 31, 2021 GBP (£) transactions	Dec. 31, 2021 SGD ($) transactions	Dec. 31, 2021 INR (₨) transactions	Dec. 31, 2021 AUD ($) transactions
Derivatives, Fair Value [Line Items]
Derivative assets	[1]	$ 2							$ 0	[2]
Derivative liabilities	[1]	4							0	[2]
Collateral held, derivative assets	[3]	0							0	[2]
Collateral posted, derivative liabilities	[3]	0							0	[2]
Total net derivative assets		2							0	[2]
Derivative Liability, Fair Value, Amount Offset Against Collateral, Total		4							0	[2]
Designated as Hedges [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 3,250	[4]						$ 250
Derivative, number of outstanding derivative contracts (in transactions) | transactions		6		6	6	6	6	6	0		0	0	0	0	0
Derivative assets		$ 2							$ 0	[2]
Derivative liabilities		4							0	[2]
Designated as Hedges [Member] | Cash Flow Hedging [Member] | us-gaap_InterestRateSwapMemberStarting4Q22
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 1,000
Derivative, number of outstanding derivative contracts (in transactions) | transactions		2		2	2	2	2	2
Designated as Hedges [Member] | Fair Value Hedging [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 3,425							6,125
Derivative, number of outstanding derivative contracts (in transactions) | transactions		4		4	4	4	4	4
Derivative assets		$ 0							0	[2]
Derivative liabilities		0							0	[2]
Not Designated as Hedges [Member] | Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount	[5]	$ 24							36
Derivative, number of outstanding derivative contracts (in transactions) | transactions		7		7	7	7	7	7
Derivative assets		$ 0							0	[2]
Derivative liabilities		0							0	[2]
Not Designated as Hedges [Member] | Foreign Exchange Forward [Member] | Euro Member Countries, Euro
Derivatives, Fair Value [Line Items]
Derivative, notional amount | €				€ 6							€ 6
Not Designated as Hedges [Member] | Foreign Exchange Forward [Member] | United Kingdom, Pounds
Derivatives, Fair Value [Line Items]
Derivative, notional amount | £					£ 6							£ 6
Not Designated as Hedges [Member] | Foreign Exchange Forward [Member] | Singapore, Dollars
Derivatives, Fair Value [Line Items]
Derivative, notional amount						$ 1							$ 1
Not Designated as Hedges [Member] | Foreign Exchange Forward [Member] | India, Rupees
Derivatives, Fair Value [Line Items]
Derivative, notional amount | ₨							₨ 788							₨ 788
Not Designated as Hedges [Member] | Foreign Exchange Forward [Member] | Australia, Dollars
Derivatives, Fair Value [Line Items]
Derivative, notional amount								$ 2							$ 14
Not Designated as Hedges [Member] | When-Issued Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 10							$ 50
Derivative, number of outstanding derivative contracts (in transactions) | transactions		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 as part of its community reinvestment initiatives. At September 30, 2022 and December 31, 2021, the Company had one outstanding contract with a total notional amount of $10 million and $50 million, respectively, and immaterial fair values.[2]The gross and net derivative assets and liabilities were immaterial as of December 31, 2021.[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.[4]At September 30, 2022, the Company had two forward-starting interest rate swaps with a total notional amount of $1 billion with interest payments set to be exchanged starting in the fourth quarter of 2022. At December 31, 2021, the Company had no forward-starting interest rate swaps.[5]The foreign exchange forward contracts have notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 2 million as of September 30, 2022, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 14 million as of December 31, 2021.

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities Derivatives and Hedging Activities (Schedule of Hedged Items in a Fair Value Hedging Relationship) (Details) - Long-term Debt [Member] - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Schedule of Hedged Items in Fair Value Hedging Relationship [Line Items]
Carrying amount of hedged assets/liabilities		$ 3,385	$ 6,158
Cumulative amount of fair value hedging adjustment increasing (decreasing) the carrying amount of hedged assets/liabilities	[1]	(4)	83
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)		$ 33	$ 48
[1]The balance includes $33 million and $48 million of cumulative hedging adjustments related to discontinued hedging relationships as of September 30, 2022 and December 31, 2021, respectively.

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities (Schedule of Impact of the Derivative Instruments on Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	$ (2)	$ 0	$ (4)	$ (2)
Interest Expense [Member] | Long-term Debt [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	(168)	(113)	(416)	(356)
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0		0
Interest Expense [Member] | Long-term Debt [Member] | Designated as Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	(1)		(3)	(2)
Gains on hedged items, fair value hedges	3	45	72	167
Losses on interest rate swaps, fair value hedges	(11)	(9)	(61)	(38)
Total gains on fair value hedges	(8)	36	11	129
Interest Income | Credit Card Loans [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	2,783		7,475	6,452
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0		0
Interest Income | Credit Card Loans [Member] | Designated as Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	(1)		(1)	0
Gains on hedged items, fair value hedges	0	0	0	0
Losses on interest rate swaps, fair value hedges	0	0	0	0
Total gains on fair value hedges	0	0	0	0
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the condensed consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	19	18	64	47
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	1		2
Other Income [Member] | Designated as Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	0		0	0
Gains on hedged items, fair value hedges	0	0	0	0
Losses on interest rate swaps, fair value hedges	0	0	0	0
Total gains on fair value hedges	$ 0	$ 0	$ 0	$ 0

Segment Disclosures (Narrative)

Segment Disclosures (Narrative) (Details)	9 Months Ended
	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments (in number of segments)	2

Segment Disclosures (Schedule o

Segment Disclosures (Schedule of Segment Disclosures) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Interest income	$ 3,357	$ 2,674	$ 9,008	$ 7,909
Interest expense	514	269	1,076	875
Net interest income	2,843	2,405	7,932	7,034
Provision for credit losses	773	185	1,476	(45)
Other income	636	372	1,673	2,117
Other expense	1,388	1,190	3,741	3,493
Income before income taxes	1,318	1,402	4,388	5,703
Credit Card Loans [Member]
Segment Reporting Information [Line Items]
Interest income	2,783	2,193	7,475	6,452
Total Other Loans [Member] | Private Student Loans [Member]
Segment Reporting Information [Line Items]
Interest income	211	184	597	554
Total Other Loans [Member] | Personal Loans [Member]
Segment Reporting Information [Line Items]
Interest income	221	219	633	662
Total Other Loans [Member] | Other Loans [Member]
Segment Reporting Information [Line Items]
Interest income	44	30	113	85
Unallocated Financing Receivables | Other [Member]
Segment Reporting Information [Line Items]
Interest income	98	48	190	156
Operating Segments [Member] | Digital Banking [Member]
Segment Reporting Information [Line Items]
Interest income	3,357	2,674	9,008	7,909
Interest expense	514	269	1,076	875
Net interest income	2,843	2,405	7,932	7,034
Provision for credit losses	773	185	1,476	(45)
Other income	541	447	1,584	1,284
Other expense	1,346	1,151	3,624	3,290
Income before income taxes	1,265	1,516	4,416	5,073
Operating Segments [Member] | Digital Banking [Member] | Credit Card Loans [Member]
Segment Reporting Information [Line Items]
Interest income	2,783	2,193	7,475	6,452
Operating Segments [Member] | Digital Banking [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Segment Reporting Information [Line Items]
Interest income	211	184	597	554
Operating Segments [Member] | Digital Banking [Member] | Total Other Loans [Member] | Personal Loans [Member]
Segment Reporting Information [Line Items]
Interest income	221	219	633	662
Operating Segments [Member] | Digital Banking [Member] | Total Other Loans [Member] | Other Loans [Member]
Segment Reporting Information [Line Items]
Interest income	44	30	113	85
Operating Segments [Member] | Digital Banking [Member] | Unallocated Financing Receivables | Other [Member]
Segment Reporting Information [Line Items]
Interest income	98	48	190	156
Operating Segments [Member] | Payment Services [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Interest expense	0	0	0	0
Net interest income	0	0	0	0
Provision for credit losses	0	0	0	0
Other income	95	(75)	89	833
Other expense	42	39	117	203
Income before income taxes	53	(114)	(28)	630
Operating Segments [Member] | Payment Services [Member] | Credit Card Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Operating Segments [Member] | Payment Services [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Operating Segments [Member] | Payment Services [Member] | Total Other Loans [Member] | Personal Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Operating Segments [Member] | Payment Services [Member] | Total Other Loans [Member] | Other Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Operating Segments [Member] | Payment Services [Member] | Unallocated Financing Receivables | Other [Member]
Segment Reporting Information [Line Items]
Interest income	$ 0	$ 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		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net		$ 346	$ 299	$ 1,056	$ 879
Protection products revenue		42	43	128	129
Transaction processing revenue		65	58	183	167
Other income subject to ASC 606		19	18	64	47
Loan fee income		168	121	450	333
Unrealized (losses) gains on equity investments		(37)	(167)	(394)	562
Realized gains on equity investments		33	0	186	0
Total other income (loss) not subject to ASC 606		164	(46)	242	895
Total other income (loss) by operating segment		636	372	1,673	2,117
Customer rewards included in discount and interchange revenue		811	689	2,200	1,800
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	346	299	1,056	879
Protection products revenue		42	43	128	129
Transaction processing revenue		65	58	183	167
Other income subject to ASC 606		19	18	64	47
Total other income subject to ASC 606	[2]	472	418	1,431	1,222
Operating Segments [Member] | Digital Banking [Member]
Disaggregation of Revenue [Line Items]
Loan fee income		168	121	450	333
Unrealized (losses) gains on equity investments		0	0	0	0
Realized gains on equity investments		1		2
Total other income (loss) not subject to ASC 606		169	121	452	333
Total other income (loss) by operating segment		541	447	1,584	1,284
Operating Segments [Member] | Digital Banking [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	327	280	995	826
Protection products revenue		42	43	128	129
Transaction processing revenue		0	0	0	0
Other income subject to ASC 606		3	3	9	(4)
Total other income subject to ASC 606	[2]	372	326	1,132	951
Operating Segments [Member] | Payment Services [Member]
Disaggregation of Revenue [Line Items]
Loan fee income		0	0	0	0
Unrealized (losses) gains on equity investments		(37)	(167)	(394)	562
Realized gains on equity investments		32		184
Total other income (loss) not subject to ASC 606		(5)	(167)	(210)	562
Total other income (loss) by operating segment		95	(75)	89	833
Operating Segments [Member] | Payment Services [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	19	19	61	53
Protection products revenue		0	0	0	0
Transaction processing revenue		65	58	183	167
Other income subject to ASC 606		16	15	55	51
Total other income subject to ASC 606	[2]	$ 100	$ 92	$ 299	$ 271
[1]Net of rewards, including Cashback Bonus rewards, of $811 million and $689 million for the three months ended September 30, 2022 and 2021, respectively, and $2.2 billion and $1.8 billion for the nine months ended September 30, 2022 and 2021, respectively.[2]Excludes deposit product fees that are reported within net interest income, which were immaterial for the three and nine months ended September 30, 2022 and 2021.