American Express Credit 10-Q 3 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 03, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	AMERICAN EXPRESS CREDIT CORPORATION
Entity Central Index Key	4,969
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,504,938

Consolidated Statements of Inco

Consolidated Statements of Income and Retained Earnings - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues
Discount revenue earned from purchased Card Member receivables and loans	$ 248	$ 174	$ 462	$ 359
Interest income from affiliates and other	90	68	179	123
Finance revenue	13	11	28	23
Total revenues	351	253	669	505
Expenses
Provisions for losses	58	54	122	116
Interest expense	173	123	304	220
Interest expense to affiliates	40	13	69	22
Other, net	(13)	11	(27)	29
Total expenses	258	201	468	387
Pretax income	93	52	201	118
Income tax provision (benefit)	5	(5)	(16)	2
Net income	88	57	217	116
Retained earnings at beginning of period	2,837	3,370	2,708	3,311
Retained earnings at end of period	$ 2,925	$ 3,427	$ 2,925	$ 3,427

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Consolidated Statement of Comprehensive Income [Abstract]
Net income	$ 88	$ 57	$ 217	$ 116
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of tax	(21)	14	(11)	322
Other comprehensive (loss) income	(21)	14	(11)	322
Comprehensive income	$ 67	$ 71	$ 206	$ 438

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 185	$ 196
Card Member receivables, less reserves	22,635	20,131
Card Member loans, less reserves	576	556
Loans to affiliates and other	13,402	14,527
Due from affiliates	17	189
Other assets	421	290
Total assets	37,236	35,889
Liabilities
Short-term debt	113	1,308
Short-term debt to affiliates	8,171	5,997
Long-term debt	23,564	24,153
Long-term debt to affiliates	265	270
Total debt	32,113	31,728
Due to affiliates	2,852	1,988
Accrued interest and other liabilities	194	302
Total liabilities	35,159	34,018
Shareholder's Equity
Common stock, $0.10 par value, authorized 3 million shares; issued and outstanding 1.5 million shares	0	0
Additional paid-in-capital	161	161
Retained earnings	2,925	2,708
Accumulated other comprehensive loss:
Foreign currency translation adjustments, net of tax	(1,009)	(998)
Total accumulated other comprehensive loss	(1,009)	(998)
Total shareholder's equity	2,077	1,871
Total liabilities and shareholder's equity	$ 37,236	$ 35,889

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Assets
Card Member receivables, reserves	$ 157	$ 145
Card Member loans, reserves	$ 5	$ 5
Shareholder's Equity
Common stock, par value	$ 0.1	$ 0.1
Common stock, authorized	3	3
Common stock, issued	1.5	1.5
Common stock, outstanding	1.5	1.5
Accumulated other comprehensive loss:
Foreign currency translation adjustments, tax	$ 5	$ 17

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash Flows from Operating Activities
Net income	$ 217	$ 116
Adjustments to reconcile net income to net cash provided by operating activities:
Provisions for losses	122	116
Amortization of underwriting expense	13	13
Deferred taxes	(24)	(51)
Changes in operating assets and liabilities:
Interest, taxes and other amounts due to/from affiliates	(114)	256
Other operating assets and liabilities	(41)	12
Net cash provided by operating activities	173	462
Cash Flows from Investing Activities
Net increase in Card Member receivables and loans	(2,805)	(3,529)
Net decrease in loans to affiliates and other	930	968
Net increase (decrease) in due to/from affiliates	1,160	(756)
Net cash used in investing activities	(715)	(3,317)
Cash Flows from Financing Activities
Net decrease in short-term debt	(1,195)	(1,995)
Net increase in short-term debt to affiliates	2,174	380
Proceeds from long-term debt	0	8,443
Principal payments of long-term debt	(447)	(3,900)
Net cash provided by financing activities	532	2,928
Effect of foreign currency exchange rates on cash and cash equivalents	(6)	29
Net (decrease) increase in cash, cash equivalents and restricted cash	(16)	102
Cash, cash equivalents and restricted cash at beginning of period	296	1,211
Cash, cash equivalents and restricted cash at end of period	$ 280	$ 1,313

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Statement of Cash Flows [Abstract]
Cash and cash equivalents per Consolidated Balance Sheets		$ 185	$ 196	$ 1,313	$ 1,211
Restricted cash included in Other assets per Consolidated Balance Sheets	[1]	95	100	0	0
Total Cash, cash equivalents and restricted cash		$ 280	$ 296	$ 1,313	$ 1,211
[1]	R epresents cash placed with Amex Bank of Canada relating to the collateralized loan arrangement for transfer of Card Member loans a nd the purchase of Card Member r eceivables .

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Disclosure Text Block Abstract
Basis of Presentation	1 . Basis of Presentation The Company American Express Credit Corporation (Credco), together with its subsidiaries, is a wholly owned subsidiary of American Express Travel Related Services Company, Inc. (TRS), which is a wholly owned subsidiary of American Express Company (American Express). Credco is engaged in the business of financing certain non-interest-earning Card Member receivables arising from the use of American Express charge cards issued in the United States and in certain countries out side the United States. Credco also finances certain interest-earning revolving loans generated by Card Member spending on American Express credit cards issued in non-U.S. markets . Credco executes material transactions with its affiliates. The agreements b etween Credco and its affiliates provide that the parties intend that the transactions thereunder be conducted on an arm’s length basis; however, there can be no assurance that the terms of these arrangements are the same as would be negotiated between ind ependent, unrelated parties. American Express provides Credco with financial support with respect to maintenance of its minimum overall 1.25 fixed charge coverage ratio, which is achieved by charging appropriate discount rates on the purchases of receivabl es Credco makes from, and the interest rates on the loans Credco provides to, TRS and other American Express subsidiaries. Each monthly period, the discount and interest rates are determined to generate income for Credco that is sufficient to maintain its minimum fixed charge coverage ratio. The revenue earned by Credco from purchasing Card Member receivables and loans at a discount is reported as discount revenue on the Consolidated Statements of Income and Retained Earnings. The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements included in Credco’s Annual Report on Form 10-K for the year ended December 31, 201 7 (Form 10-K). If not materially different, certain footnote disclosures includ ed therein have been omitted from this Quarterly Report on Form 10-Q. The interim consolidated financial information in this report has not been audited. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim period consolidated financial information, have been made. Results of operations reported for interim periods are not necessarily indicative of results for the entire year. The preparation of Consolidated Financial Stat ements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. These accounting estimates reflect the best judgment of management, but actual results could differ. Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance for recognition of credit losses on financial instruments, effective January 1, 2020, with early adoption permitted on January 1, 2019. The guidance introduces a new credit reserving model known as the Current Expected Credi t Loss (CECL) model, which is based on expected losses, and differs significantly from the incurred loss approach used today. The CECL model requires measurement of expected credit losses not only based on historical experience and current conditions, but also by including reasonable and supportable forecasts incorporating forward-looking information . The guidance also requires a cumulative-effect adjustment to retained earnings as of the beginning of the reporting period of adoption . Credco does not intend to adopt the new standard early and is currently evaluating the impact the new guidance will have on its financial position, results of operations and cash flows; however, it is expected that the CECL model will alter the assumptions used in estimating cr edit losses on Card Member receivables and loans, and may result in material increases to Credco’s credit reserves as the new guidance involves earlier recognition of expected losses for the life of the assets . American Express has established a n enterpris e -wide, cross-discipline governance structur e to implement the new standard, and continue to identify and conclude on key interpretive issues along with evaluating American Express’ existing credit loss forecasting models and processes in relation to the n ew guidance to determine what modifications may be required. In February 2018, as a result of the enactment of the Tax Cuts and Jobs Act (the Tax Act), the FASB issued new accounting guidance on the reclassification of certain tax effects from accumulated other comprehensive income (loss) (AOCI) to retained earnings. The optional guidance is effective January 1, 2019, with early adoption permitted. Credco is evaluating whether it will adopt the new guidance along with any impacts on Credco’s financial posit ion, results of operations and cash flows, none of which are expected to be material. Recently Adopted Accounting Standards In January 2016, the FASB issued new accounting guidance on the recognition and measurement of financial assets and financial liabilities, which was effective and adopted by Credco as o f January 1, 2018. The guidance makes targeted changes to GAAP; specifically to the classification and measurement of equity securities, and to certain disclosure requirements associated with the f air value of financial assets and liabilitie s. The adoption of the guidance did not have a material impact on Credco’s financial position, results of operations and cash flows. Credco implemented changes to its accounting policies, business processes and i nternal controls in support of the new guidance. Such changes were not material . In November 2016, the FASB issued new accounting guidance on the cash flow classification and presentation of changes in restricted cash or restricted cash equivalents, effect ive January 1, 2018. The guidance provides specifically that amounts generally described as restricted cash and restricted cash equivalents are to be included with cash and cash equivalents on the statement of cash flows. Credco holds a restricted cash bal ance such that it becomes a material change to the way balances are presented on the statement of cash flows. B eginning with the quarter ended March 31, 2018, Credco’s consolidated statements of cash flows reflect the adoption of the standard using the ful l retrospective method, which applies the new standard to each prior reporting period presented. In August 2017, the FASB issued new accounting guidance providing targeted improvements to the accounting for hedging activities, effective January 1, 2019, wi th early adoption permitted in any interim period or fiscal year before the effective date. The guidance introduces a number of amendments, several of which are optional, that are designed to simplify the application of hedge accounting, improve financial statement transparency and more closely align hedge accounting with an entity’s risk management strategies. Effective January 1, 2018, Credco adopted the guidance with no material impact on its financial position, results of operations and cash flows, alon g with associated changes to its accounting policies, business processes and internal controls in support of the new guidance. Such changes were not material . Other Information Effective for the second quarter of 2018, American Express realigned its reportable operating segments to reflect the organizational changes announced during the first quarter of 2018 which combined its U.S. and International consumer businesses into a global consumer services organization , among other changes . To enhance the c omparability and usefulness of Credco’s financial statements with that of American Express, Credco has also combined its U.S. and International consumer Card Member receivables and loans in Note 2 for the periods presented. This change did not have any imp act on Credco’s underlying assumptions or judgments with respect to reserves for losses or credit performance.

Card Member Receivables and Loa

Card Member Receivables and Loans	6 Months Ended
	Jun. 30, 2018
Card Member Receivables and Loans [Abstract]
Card Member Receivables and Loans	2 . Card Member Receivables and Loans American Express’ charge and lending payment card products result in the generation of Card Member receivables and Card Member loans, respectively. Card Member receivables as of June 30 , 2018 and December 31, 2017 consisted of : (Millions) 2018 2017 Global Consumer Services Group (a) $ 6,428 $ 5,384 Global Commercial Services (b) 16,364 14,892 Card Member receivables (c) 22,792 20,276 Less: Reserve for losses 157 145 Card Member receivables, net (d) $ 22,635 $ 20,131 Comprised of U . S . and International C onsumer Services . Comprised of Corporate and Small Business Services. Net of deferred discount revenue totaling $ 57 million and $ 43 million as of June 30 , 2018 and December 31, 2017 , respectively. Card Member receivables modified in a troubled debt restructuring (TDR) program were immaterial. Card Member loans as of June 30 , 2018 and December 31, 2017 consisted of: (Millions) 2018 2017 Global Consumer Services Group (a) $ 581 $ 561 Less: Reserve for losses 5 5 Card Member loans, net (b) $ 576 $ 556 Comprised of International C onsumer Services . Card Member loans modified in a TDR program were immaterial. Card Member Receivables and Loans Aging Generally, a Card Member account is considered past due if payment is not received within 30 days after the billing statement date. The following table presen ts the aging of C ard Member receivables and Card Member loans as of June 30 , 2018 and December 31, 2017 : 30-59 60-89 Days Days 90+ Days 2018 (Millions) Current Past Due Past Due Past Due Total Card Member Receivables: Global Consumer Services Group $ 6,380 $ 16 $ 9 $ 23 $ 6,428 Global Commercial Services Global Small Business Services 1,617 6 3 7 1,633 Global Corporate Payments (a) (b) (b) (b) 119 14,731 Card Member Loans: Global Consumer Services Group $ 577 $ 1 $ 1 $ 2 $ 581 30-59 60-89 Days Days 90+ Days 2017 (Millions) Current Past Due Past Due Past Due Total Card Member Receivables: Global Consumer Services Group $ 5,336 $ 18 $ 11 $ 19 $ 5,384 Global Commercial Services Global Small Business Services 1,397 5 4 6 1,412 Global Corporate Payments (a) (b) (b) (b) 112 13,480 Card Member Loans: Global Consumer Services Group $ 557 $ 1 $ 1 $ 2 $ 561 For G lobal Corporate Payments Card Member receivables in Global Commercial Services , delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if collection procedures are initiated on an account prior to the account becoming 90 days past billing, the associated Card Member receivable balance is classified as 90 day s past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes . See also (b). Delinquency data for periods other than 90 days past billing is not available due to system constraints. Therefore, such data has not been utilized for risk management purposes. The balances that are current to 89 days past due can be derived as the difference between the Total and the 90+ Days Past Due balances. Credit Quality Indicators for Card Member Receivables and Loans The following table s pre sent the key credit quality indicators as of or for the six months ended June 30 : 2018 2017 30+ Days 30+ Days Net Past Due Net Past Due Write-off as a % of Write-off as a % of Rate (a) Total Rate (a) Total Card Member Receivables: Global Consumer Services Group 1.30 % 0.75 % 0.90 % 0.82 % Global Small Business Services 1.56 % 0.98 % 1.03 % 1.10 % Card Member Loans: Global Consumer Services Group 1.06 % 0.69 % 1.28 % 0.85 % 2018 2017 Net Loss 90+ Days Net Loss 90+ Days Ratio as a Past Ratio as a Past % of Billing % of Billing Charge as a % of Charge as a % of Volume (b) Receivables Volume (b) Receivables Card Member Receivables: Global Corporate Payments 0.07 % 0.81 % 0.08 % 0.84 % Represents the amount of Card Member receivables or Card Member loans owned by Credco that are written off, net of recoveries, expressed as a percentage of the average Card Member receivables or Card Member loans balances in each of the periods indicated. Represents the amount of Card Member receivables owned by Credco that are written off, net of recoveries, expressed as a percentage of the volume of Card Member receivables purchased by Credco in each of the periods indicated.

Reserves for Losses

Reserves for Losses	6 Months Ended
	Jun. 30, 2018
Reserves for Losses [Abstract]
Reserves for Losses	3 . Reserves for Losses Reserves for losses relating to Card Member receivables and loans represent management’s best estimate of the probable inherent losses in Credco’s outstanding portfolio of receivables and loans, as of the balance sheet date. Management’s evaluation process requires certain estimates and judgments. Changes in Card Member Receivables Reserve for Losses The following table presents changes in the Card Member receivables reserve for losses for the six months ended June 30 : (Millions) 2018 2017 Balance, January 1 $ 145 $ 110 Provisions 119 113 Other credits (a) 32 33 Net write-offs (b) (119) (94) Other debits (c) (20) (16) Balance, June 30 $ 157 $ 146 Primarily reserve balances applicable to new groups of Card Member receivables purchased from TRS and certain of its subsidiaries and participation interests from affiliates. New groups of Card Member receivables purchased totaled $ 5.5 billion and $ 6.0 billion for the six months ended June 30 , 2018 and 2017 , respectively. Net of recoveries of $ 55 million and $ 45 million for the six months ended June 30 , 2018 and 2017 , res pectively. Primarily reserve balances related to participation interests in Card Member receivables sold to an affiliate. Participation interests in Card Member receivables sold totaled $ 3.4 billion and $ 2.6 billi on for the six months ended June 30, 2018 and 2017 , respectively. Changes in Card Member Loans Reserve for Losses The following table presents changes in the Card Member loans reserve for losses for the six months ended June 30 : (Millions) 2018 2017 Balance, January 1 $ 5 $ 5 Provisions 3 3 Net write-offs (a) (3) (3) Balance, June 30 $ 5 $ 5 Net of recoveries of $ 1.0 million for each of the six months ended June 30 , 2018 and 2017 .

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	4 . Derivatives and Hedging Activities Credco uses derivative financial instruments (derivatives) to manage exposures to various market risks. These instruments derive their value from an underlying variable or multiple variables, including interest rates and foreign exchange rates, and are carried at fair value on the Consolidated Balance Sheets. These instruments enable end users to increase, reduce or alter ex posure to various market risks and, for that reason, are an integral component of Credco’s market risk management. Credco does not transact in derivatives for trading purposes. In relation to Credco’s credit risk, under the terms of the derivative agreemen ts it has with its various counterparties, Credco is not required to either immediately settle any outstanding liability balances or post collateral upon the occurrence of a specified credit risk-related event. Based on Credco’s assessment of the credit risk of its derivative counterparties as of June 30 , 2018 and December 31, 2017 , no credit risk adjustment to the derivative portfolio was required . The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of June 30 , 2018 and December 31, 2017 : Other Assets Other Liabilities Fair Value Fair Value (Millions) 2018 2017 2018 2017 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a) $ ― $ ― $ 1 $ ― Net investment hedges - Foreign exchange contracts 129 54 7 38 Total derivatives designated as hedging instruments 129 54 8 38 Derivatives not designated as hedging instruments: Foreign exchange contracts 65 9 14 57 Total derivatives, gross 194 63 22 95 Less: Cash collateral netting (b) ― ― ― ― Derivative asset and derivative liability netting (c) (10) (26) (10) (26) Total derivatives, net $ 184 $ 37 $ 12 $ 69 For centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. Accordingly, the amounts disclosed for centrally cleared derivatives are based on gross assets and gross liabilities, net of variation margin. Credco posted $ 81 million and $ 115 million as of June 30 , 2018 and December 31, 2017 , respectively, as initial margin on its centrally cleared interest rate swaps; such amounts are recorded within Other assets on Credco’s Consolidated Balance Sheets and are not netted against the derivative balances. Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparty under an enforceable master netting arrangement. A majority of Credco’s derivative assets and liabilities as of June 30, 2018 and December 31, 2017 are subject to master netting agreements with its derivative counterparties. Credco has no derivative amounts subject to enforceable master netting arrangements that are not offset on the Consolidated Balance Sheets. Fair Value Hedges Credco is exposed to interest rate risk associated with its fixed-rate long-term debt obligations. At the time of issuance, certain fixed-rate debt obligations are designated in fa ir value hedging relationships us ing interest rate swaps to economically convert the fixed interest rate to a floating interest rate . Credco has $ 15.3 billion and $ 16.2 billion of its fixed-rate debt obligations designated in fair value hedg ing r elationships as of June 30 , 2018 and December 31, 2017 , respectively. The following table represents the gains and losses associated with fair value hedges of Credco’s fixed-rate long-term debt : Gains (losses) Three Months Ended Six Months Ended June 30, June 30, (Millions) 2018 2017 2018 2017 Interest Expense (a) Other Expenses Interest Expense (a) Other Expenses Fixed-rate long-term debt $ 12 $ (37) $ 127 $ (8) Derivatives designated as hedging instruments (20) 20 (115) (30) Total $ (8) $ (17) $ 12 $ (38) Credco adopted new accounting guidance providing targeted improvements to the accounting for hedging activities effective January 1, 2018. In compliance with the standard, amounts previously recorded in Other expenses have been prospectively recorded in I n terest expense. Refer to Note 1 for additional information. The carrying values of the hedged liabilities, recorded within Long-term debt on the Consoli dated Balance Sheets, were $15.0 billion and $16 .0 billion as of June 30 , 2018 and December 31, 2017, respectively, including offsetting amounts of $2 82 million and $155 million for the respective periods, related to the cumulative amount of fair value hedging adjustments. Credco recognized a net increase of $ 19 million and a net red uction of $ 17 million in interest expense on long-term debt for the three months ended June 30 , 2018 and 2017 , respectively, and a net increase of $ 23 million and a net reduction of $ 39 million for the six months ended June 30 , 2018 and 2017 , respectively, primarily related to the net settlements (interest accruals) on Credco’s interest rate derivatives designated as fair value hedges. Net Investment Hedges The gain or loss on net investment hedges, net of taxes, recorded in AOCI as part of the cumula tive translation adjustment, was a gain of $ 105 million and a loss of $ 40 million for the three months ended June 30 , 2018 and 2017 , respectively and a gain of $ 62 million and a loss of $ 168 million for the six months ended June 30 , 2018 and 2017 , respectively . No amounts associated with net investment hedges were reclassified from AOCI into income for the three and six months ended June 30, 2018 and 2017 . Derivatives Not Designated a s Hedges The changes in the fair value of derivatives that are not designated as hedges are intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures . The changes in the fair value of the derivatives and the related underlying foreign currency exposures resulted in net gain s of $ 15 million and $ 6 million for the three months ended June 30 , 2018 and 2017 , respectively, and net gains of $ 30 million and $ 10 million for the six months ended June 30 , 2018 and 2017 , respectively, and are recognized in Other expe nses.

Fair Values

Fair Values	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Values	5 . Fair Values Financial Assets and Financial Liabilities Carried at Fair Value The following table summarizes Credco’s financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s fair value hierarchy as Level 2 , as of June 30 , 2018 and December 31, 2017 : (Millions) 2018 2017 Assets: Derivatives (a) $ 194 $ 63 Total assets 194 63 Liabilities: Derivatives (a) 22 95 Total liabilities $ 22 $ 95 Refer to Note 4 for the fair values of de rivative assets and liabilities, on a further disaggregated basis. Financial Assets and Financial Liabilities Carried at Other Than Fair Value The following table summ arizes the estimated fair value f or Credco’s financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of June 30 , 2018 and December 31, 2017 . The fair values of these financial instruments are estimat es based upon the market conditions and perceived risks as of June 30 , 2018 and December 31, 2017 and require management judgment. These figures may not be indicative of future fair values, nor can Credco’s fair value be estimated by aggregating the amounts presented. Carrying Corresponding Fair Value Amount 2018 (Billions) Value Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 0.2 $ 0.2 $ 0.2 $ ― $ ― Other financial assets (b) 22.9 22.9 0.1 22.8 ― Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 ― ― 0.6 Loans to affiliates and other 13.4 13.3 ― 8.4 4.9 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 10.5 10.5 ― 10.5 ― Financial liabilities carried at other than fair value Long-term debt 23.6 23.7 ― 23.7 ― Long-term debt with affiliates $ 0.3 $ 0.3 $ ― $ 0.3 $ ― Carrying Corresponding Fair Value Amount 2017 (Billions) Value Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 0.2 $ 0.2 $ 0.2 $ ― $ ― Other financial assets (b) 20.6 20.6 0.1 20.5 ― Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 ― ― 0.6 Loans to affiliates and other 14.5 14.4 ― 10.0 4.4 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 8.6 8.6 ― 8.6 ― Financial liabilities carried at other than fair value Long-term debt 24.2 24.5 ― 24.5 ― Long-term debt with affiliates $ 0.3 $ 0.3 $ ― $ 0.3 $ ― Amounts reflect interest-bearing deposits. Level 1 amounts reflect interest-bearing restricted cash and Level 2 amounts primarily reflect Card Member receivables. Nonrecurring Fair Value Measurements During the six months ended June 30 , 2018 and during the year ended December 31, 2017 , Credco did not have any assets that were measured at fair value due to impairment on a nonrecurring basis.

Variable Interest Entity

Variable Interest Entity	6 Months Ended
	Jun. 30, 2018
Variable Interest Entity [Abstract]
Variable Interest Entity	6 . Variable Interest Entity Credco established a Variable Interest Entity, American Express Canada Credit Corporation (AECCC), primarily to issue notes in Canada under a medium-term note program and lend the proceeds to affiliates. The notes issued under the medium-term note program are fu lly guaranteed by Credco. Credco is considered the primary beneficiary of the entity and owns all of the outstanding voting interests and, therefore, consolidates the entity. As of June 30, 2018 and December 31, 2017 , total assets of AECCC were $ 8 million and $ 466 million, respectively, and total liabilities were nil and $ 457 million, respectively , none of which were eliminated in consolidation. In March 2018, the funds lent by AECCC wer e repaid by the affiliates and used to satisfy the scheduled maturity of notes issued under the medium-term note program.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2018
Changes In Accumulated Other Comprehensive Income Disclosure [Abstract]
Changes In Accumulated Other Comprehensive Income	7 . Changes in Accumulated Other Comprehensive Income AOCI is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in Foreign Currency Translation Adjustments for the three and six months ended June 30 , 2018 and 2017 were as follows: Foreign Currency Translation Three Months Ended June 30, 2018 (Millions) , net of tax Adjustments Balances as of March 31, 2018 $ (988) Net translation loss of investments in foreign operations (126) Net gains related to hedges of investment in foreign operations 105 Net change in accumulated other comprehensive loss (21) Balances as of June 30, 2018 $ (1,009) Foreign Currency Translation Six Months Ended June 30, 2018 (Millions) , net of tax Adjustments Balances as of December 31, 2017 $ (998) Net translation loss of investments in foreign operations (73) Net gains related to hedges of investment in foreign operations 62 Net change in accumulated other comprehensive loss (11) Balances as of June 30, 2018 $ (1,009) Foreign Currency Translation Three Months Ended June 30, 2017 (Millions) , net of tax Adjustments Balances as of March 31, 2017 $ (955) Net translation gain of investments in foreign operations 54 Net losses related to hedges of investment in foreign operations (40) Net change in accumulated other comprehensive loss 14 Balances as of June 30, 2017 $ (941) Foreign Currency Translation Six Months Ended June 30, 2017 (Millions) , net of tax Adjustments Balances as of December 31, 2016 $ (1,263) Net translation gain of investments in foreign operations (a) 490 Net losses related to hedges of investment in foreign operations (168) Net change in accumulated other comprehensive loss 322 Balances as of June 30, 2017 $ (941) Includes $289 million of tax benefits recognized i n the six months ended June 30, 2017 . The following table shows the tax impact for the three and six months ended June 30 for the changes in Foreign Currency Translation Adjustments presented above : Tax (benefit) expense Three Months Ended Six Months Ended June 30, June 30, (Millions) 2018 2017 2018 2017 Foreign currency translation adjustments (a) $ (23) $ (3) $ (31) $ (245) Net investment hedges 33 (24) 19 (100) Total tax impact $ 10 $ (27) $ (12) $ (345) Includes $289 million of tax benefits recognized in the six months ended June 30, 2017 . No amounts were reclassified out of AOCI into the Consolidated Statements of Income and Retained Earnings for the three and six months ended June 30 , 2018 and 2017 .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Taxes [Abstract]
Income Taxes	8 . Income Taxes The results of operations of Credco are included in the consolidated U.S. federal income tax return of American Express. Under an agreement with American Express, provision for income taxes is recognized on a separate company basis. If benefits for net operating losses, future tax deduction s and foreign tax credits cannot be recognized on a separate company basis, such benefits are then recognized based upon a share, derived by formula, of those deductions and credits that are recognizable on an American Express consolidated reporting basis. The effective tax rate was 5.4 percent and (9.6) percent for the three months ended June 30, 2018 and 2017, respectively, and (8.0) percent and 1.7 percent for the six months ended June 30, 2018 and 2017, respectively. The changes in tax rates for both pe riods primarily reflect a reduction in the U.S. statutory corporate income tax rate from 35 percent to 21 percent effective January 1, 2018, as a result of the Tax Act. The tax rate for the six months ended June 30, 2018 includes a $24 million discrete tax benefit that reduced the reported effective tax rate by 11.9 percent and is related to a revision to the provisional tax charge recorded in 2017 as a result of the Tax Act. The revision to the provisional tax charge results from additional analysis of the foreign withholding tax consequences of future cash dividends paid from non-U.S. subsidiaries. Credco is still analyzing the impacts of the Tax Act; therefore, the 2017 tax charge continues to be provisional. The tax rate in each of the periods reflects t he geographic mix of expenses in the United States that generates a tax benefit at the U.S. statutory rate and foreign earnings taxed at lower rates, and the favorable impact of the tax benefit related to Credco’s ongoing funding activities outside the Uni ted States. Credco’s provision for income taxes for interim financial periods is not based on an estimated annual effective rate due to volatility in certain components of revenues and expenses that prevents Credco from projecting a reliable estimate of fu ll year pretax income. A discrete calculation of the provision for income taxes is recorded for each interim period. American Express is under continuous examination by the Internal Revenue Service (IRS) and tax authorities in other countries and states in which American Express has significant business operations. The tax years under examination and open for examination vary by jurisdiction. American Express is currently under examination with the IRS for tax years 2008 through 2014. Credco believes it is reasonably possible that its unrecognized tax benefits could decrease by an immaterial amount within the next 12 months , principally as a result of potential resolutions of prior years’ tax items with various taxing authorities. The prior years’ tax items include unrecognized tax benefits relating to the attribution of taxable income to a particular jurisdiction or jurisdictions. The resolution of such items would not have a material impact on Credco’s effective tax rate.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Summary Of Significant Accounting Policies [Abstract]
Basis of Presentation	The preparation of Consolidated Financial Stat ements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. These accounting estimates reflect the best judgment of management, but actual results could differ.
Derivatives And Hedging Activities Policy [Abstract]
Derivatives	Credco uses derivative financial instruments (derivatives) to manage exposures to various market risks. These instruments derive their value from an underlying variable or multiple variables, including interest rates and foreign exchange rates, and are carried at fair value on the Consolidated Balance Sheets. The changes in the fair value of derivatives that are not designated as hedges are intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures
Variable Interest Entity [Abstract]
Variable Interest Entity	Credco established a Variable Interest Entity, American Express Canada Credit Corporation (AECCC), primarily to issue notes in Canada under a medium-term note program and lend the proceeds to affiliates. The notes issued under the medium-term note program are fu lly guaranteed by Credco. Credco is considered the primary beneficiary of the entity and owns all of the outstanding voting interests and, therefore, consolidates the entity.

Card Member Receivables and L17

Card Member Receivables and Loans (Tables)	6 Months Ended
	Jun. 30, 2018
Accounts Receivable And Loans Tables [Abstract]
Card Member receivables detail	Card Member receivables as of June 30 , 2018 and December 31, 2017 consisted of : (Millions) 2018 2017 Global Consumer Services Group (a) $ 6,428 $ 5,384 Global Commercial Services (b) 16,364 14,892 Card Member receivables (c) 22,792 20,276 Less: Reserve for losses 157 145 Card Member receivables, net (d) $ 22,635 $ 20,131 Comprised of U . S . and International C onsumer Services . Comprised of Corporate and Small Business Services. Net of deferred discount revenue totaling $ 57 million and $ 43 million as of June 30 , 2018 and December 31, 2017 , respectively. Card Member receivables modified in a troubled debt restructuring (TDR) program were immaterial.
Card Member loans detail	Card Member loans as of June 30 , 2018 and December 31, 2017 consisted of: (Millions) 2018 2017 Global Consumer Services Group (a) $ 581 $ 561 Less: Reserve for losses 5 5 Card Member loans, net (b) $ 576 $ 556 Comprised of International C onsumer Services . Card Member loans modified in a TDR program were immaterial.
Aging of Card Member receivables and loans	The following table presen ts the aging of C ard Member receivables and Card Member loans as of June 30 , 2018 and December 31, 2017 : 30-59 60-89 Days Days 90+ Days 2018 (Millions) Current Past Due Past Due Past Due Total Card Member Receivables: Global Consumer Services Group $ 6,380 $ 16 $ 9 $ 23 $ 6,428 Global Commercial Services Global Small Business Services 1,617 6 3 7 1,633 Global Corporate Payments (a) (b) (b) (b) 119 14,731 Card Member Loans: Global Consumer Services Group $ 577 $ 1 $ 1 $ 2 $ 581 30-59 60-89 Days Days 90+ Days 2017 (Millions) Current Past Due Past Due Past Due Total Card Member Receivables: Global Consumer Services Group $ 5,336 $ 18 $ 11 $ 19 $ 5,384 Global Commercial Services Global Small Business Services 1,397 5 4 6 1,412 Global Corporate Payments (a) (b) (b) (b) 112 13,480 Card Member Loans: Global Consumer Services Group $ 557 $ 1 $ 1 $ 2 $ 561 For G lobal Corporate Payments Card Member receivables in Global Commercial Services , delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if collection procedures are initiated on an account prior to the account becoming 90 days past billing, the associated Card Member receivable balance is classified as 90 day s past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes . See also (b). Delinquency data for periods other than 90 days past billing is not available due to system constraints. Therefore, such data has not been utilized for risk management purposes. The balances that are current to 89 days past due can be derived as the difference between the Total and the 90+ Days Past Due balances.
Credit quality indicators for receivables and loans	The following table s pre sent the key credit quality indicators as of or for the six months ended June 30 : 2018 2017 30+ Days 30+ Days Net Past Due Net Past Due Write-off as a % of Write-off as a % of Rate (a) Total Rate (a) Total Card Member Receivables: Global Consumer Services Group 1.30 % 0.75 % 0.90 % 0.82 % Global Small Business Services 1.56 % 0.98 % 1.03 % 1.10 % Card Member Loans: Global Consumer Services Group 1.06 % 0.69 % 1.28 % 0.85 % 2018 2017 Net Loss 90+ Days Net Loss 90+ Days Ratio as a Past Ratio as a Past % of Billing % of Billing Charge as a % of Charge as a % of Volume (b) Receivables Volume (b) Receivables Card Member Receivables: Global Corporate Payments 0.07 % 0.81 % 0.08 % 0.84 % Represents the amount of Card Member receivables or Card Member loans owned by Credco that are written off, net of recoveries, expressed as a percentage of the average Card Member receivables or Card Member loans balances in each of the periods indicated. Represents the amount of Card Member receivables owned by Credco that are written off, net of recoveries, expressed as a percentage of the volume of Card Member receivables purchased by Credco in each of the periods indicated.

Reserves for Losses (Tables)

Reserves for Losses (Tables)	6 Months Ended
	Jun. 30, 2018
Reserves For Losses Tables [Abstract]
Changes in the Card Member Receivable Reserve for Losses	The following table presents changes in the Card Member receivables reserve for losses for the six months ended June 30 : (Millions) 2018 2017 Balance, January 1 $ 145 $ 110 Provisions 119 113 Other credits (a) 32 33 Net write-offs (b) (119) (94) Other debits (c) (20) (16) Balance, June 30 $ 157 $ 146 Primarily reserve balances applicable to new groups of Card Member receivables purchased from TRS and certain of its subsidiaries and participation interests from affiliates. New groups of Card Member receivables purchased totaled $ 5.5 billion and $ 6.0 billion for the six months ended June 30 , 2018 and 2017 , respectively. Net of recoveries of $ 55 million and $ 45 million for the six months ended June 30 , 2018 and 2017 , res pectively. Primarily reserve balances related to participation interests in Card Member receivables sold to an affiliate. Participation interests in Card Member receivables sold totaled $ 3.4 billion and $ 2.6 billi on for the six months ended June 30, 2018 and 2017 , respectively.
Changes in the Card Member Loans Reserve for Losses	The following table presents changes in the Card Member loans reserve for losses for the six months ended June 30 : (Millions) 2018 2017 Balance, January 1 $ 5 $ 5 Provisions 3 3 Net write-offs (a) (3) (3) Balance, June 30 $ 5 $ 5 Net of recoveries of $ 1.0 million for each of the six months ended June 30 , 2018 and 2017 .

Derivatives and Hedging Activ19

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2018
Derivatives And Hedging Activities Tables [Abstract]
Schedule of derivative instruments in statement of financial position, fair value	The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of June 30 , 2018 and December 31, 2017 : Other Assets Other Liabilities Fair Value Fair Value (Millions) 2018 2017 2018 2017 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a) $ ― $ ― $ 1 $ ― Net investment hedges - Foreign exchange contracts 129 54 7 38 Total derivatives designated as hedging instruments 129 54 8 38 Derivatives not designated as hedging instruments: Foreign exchange contracts 65 9 14 57 Total derivatives, gross 194 63 22 95 Less: Cash collateral netting (b) ― ― ― ― Derivative asset and derivative liability netting (c) (10) (26) (10) (26) Total derivatives, net $ 184 $ 37 $ 12 $ 69 For centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. Accordingly, the amounts disclosed for centrally cleared derivatives are based on gross assets and gross liabilities, net of variation margin. Credco posted $ 81 million and $ 115 million as of June 30 , 2018 and December 31, 2017 , respectively, as initial margin on its centrally cleared interest rate swaps; such amounts are recorded within Other assets on Credco’s Consolidated Balance Sheets and are not netted against the derivative balances. Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparty under an enforceable master netting arrangement.
Effect of fair value hedges on results of operations	The following table represents the gains and losses associated with fair value hedges of Credco’s fixed-rate long-term debt : Gains (losses) Three Months Ended Six Months Ended June 30, June 30, (Millions) 2018 2017 2018 2017 Interest Expense (a) Other Expenses Interest Expense (a) Other Expenses Fixed-rate long-term debt $ 12 $ (37) $ 127 $ (8) Derivatives designated as hedging instruments (20) 20 (115) (30) Total $ (8) $ (17) $ 12 $ (38) Credco adopted new accounting guidance providing targeted improvements to the accounting for hedging activities effective January 1, 2018. In compliance with the standard, amounts previously recorded in Other expenses have been prospectively recorded in I n terest expense. Refer to Note 1 for additional information.

Fair Values (Tables)

Fair Values (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Values (Tables) [Abstract]
Fair value assets and liabilities measured on recurring basis	The following table summarizes Credco’s financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s fair value hierarchy as Level 2 , as of June 30 , 2018 and December 31, 2017 : (Millions) 2018 2017 Assets: Derivatives (a) $ 194 $ 63 Total assets 194 63 Liabilities: Derivatives (a) 22 95 Total liabilities $ 22 $ 95 Refer to Note 4 for the fair values of de rivative assets and liabilities, on a further disaggregated basis.
Estimated fair value of financial assets and financial liabilities	The following table summ arizes the estimated fair value f or Credco’s financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of June 30 , 2018 and December 31, 2017 . Carrying Corresponding Fair Value Amount 2018 (Billions) Value Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 0.2 $ 0.2 $ 0.2 $ ― $ ― Other financial assets (b) 22.9 22.9 0.1 22.8 ― Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 ― ― 0.6 Loans to affiliates and other 13.4 13.3 ― 8.4 4.9 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 10.5 10.5 ― 10.5 ― Financial liabilities carried at other than fair value Long-term debt 23.6 23.7 ― 23.7 ― Long-term debt with affiliates $ 0.3 $ 0.3 $ ― $ 0.3 $ ― Carrying Corresponding Fair Value Amount 2017 (Billions) Value Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 0.2 $ 0.2 $ 0.2 $ ― $ ― Other financial assets (b) 20.6 20.6 0.1 20.5 ― Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 ― ― 0.6 Loans to affiliates and other 14.5 14.4 ― 10.0 4.4 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 8.6 8.6 ― 8.6 ― Financial liabilities carried at other than fair value Long-term debt 24.2 24.5 ― 24.5 ― Long-term debt with affiliates $ 0.3 $ 0.3 $ ― $ 0.3 $ ― Amounts reflect interest-bearing deposits. Level 1 amounts reflect interest-bearing restricted cash and Level 2 amounts primarily reflect Card Member receivables.

Changes in Accumulated Other 21

Changes in Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Components of comprehensive income (loss), net of tax	Changes in Foreign Currency Translation Adjustments for the three and six months ended June 30 , 2018 and 2017 were as follows: Foreign Currency Translation Three Months Ended June 30, 2018 (Millions) , net of tax Adjustments Balances as of March 31, 2018 $ (988) Net translation loss of investments in foreign operations (126) Net gains related to hedges of investment in foreign operations 105 Net change in accumulated other comprehensive loss (21) Balances as of June 30, 2018 $ (1,009) Foreign Currency Translation Six Months Ended June 30, 2018 (Millions) , net of tax Adjustments Balances as of December 31, 2017 $ (998) Net translation loss of investments in foreign operations (73) Net gains related to hedges of investment in foreign operations 62 Net change in accumulated other comprehensive loss (11) Balances as of June 30, 2018 $ (1,009) Foreign Currency Translation Three Months Ended June 30, 2017 (Millions) , net of tax Adjustments Balances as of March 31, 2017 $ (955) Net translation gain of investments in foreign operations 54 Net losses related to hedges of investment in foreign operations (40) Net change in accumulated other comprehensive loss 14 Balances as of June 30, 2017 $ (941) Foreign Currency Translation Six Months Ended June 30, 2017 (Millions) , net of tax Adjustments Balances as of December 31, 2016 $ (1,263) Net translation gain of investments in foreign operations (a) 490 Net losses related to hedges of investment in foreign operations (168) Net change in accumulated other comprehensive loss 322 Balances as of June 30, 2017 $ (941) Includes $289 million of tax benefits recognized i n the six months ended June 30, 2017 .
Accumulated Other Comprehensive Loss Income - Tax Effect	The following table shows the tax impact for the three and six months ended June 30 for the changes in Foreign Currency Translation Adjustments presented above : Tax (benefit) expense Three Months Ended Six Months Ended June 30, June 30, (Millions) 2018 2017 2018 2017 Foreign currency translation adjustments (a) $ (23) $ (3) $ (31) $ (245) Net investment hedges 33 (24) 19 (100) Total tax impact $ 10 $ (27) $ (12) $ (345) Includes $289 million of tax benefits recognized in the six months ended June 30, 2017 .

Summary of Significant Accounti

Summary of Significant Accounting Policies ( Details Textuals)	6 Months Ended
	Jun. 30, 2018
Summary Of Significant Accounting Policies Textuals [Abstract]
Ratio of combined earnings and fixed earnings to fixed charges required to maintain availability of credit line	1.25

Card Member Receivables and L23

Card Member Receivables and Loans (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Accounts Receivable [Abstract]
Card Member receivables	$ 22,792	$ 20,276
Less: Reserve for losses	157	145	$ 146	$ 110
Card Member receivables, net	22,635	20,131
Global Consumer Services Group [Member]
Accounts Receivable [Abstract]
Card Member receivables	6,428	5,384
Global Commercial Services [Member]
Accounts Receivable [Abstract]
Card Member receivables	$ 16,364	$ 14,892

Card Member Receivables and L24

Card Member Receivables and Loans (Details 1) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Card Member loans
Less: Reserve for losses	$ 5	$ 5	$ 5	$ 5
Card Member loans, net	576	556
Global Consumer Services Group [Member]
Card Member loans
Card Member loans	581	561
Less: Reserve for losses	5	5
Card Member loans, net	$ 576	$ 556

Card Member Receivables and L25

Card Member Receivables and Loans (Details 2) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Aging [Abstract]
Card Member receivables Total Aging	$ 22,792	$ 20,276
Global Consumer Services Group [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Card Member receivables Total Aging	6,428	5,384
Card Member loans Total aging	581	561
Global Consumer Services Group [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Current	6,380	5,336
Global Consumer Services Group [Member] | Card Member Receivables [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	16	18
Global Consumer Services Group [Member] | Card Member Receivables [Member] | 60 To 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	9	11
Global Consumer Services Group [Member] | Card Member Receivables [Member] | 90+ Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	23	19
Global Consumer Services Group [Member] | Card Member Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Current	577	557
Global Consumer Services Group [Member] | Card Member Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	1	1
Global Consumer Services Group [Member] | Card Member Loans [Member] | 60 To 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	1	1
Global Consumer Services Group [Member] | Card Member Loans [Member] | 90+ Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	2	2
Global Commercial Services [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Card Member receivables Total Aging	16,364	14,892
Global Small Business Services [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Card Member receivables Total Aging	1,633	1,412
Global Small Business Services [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Current	1,617	1,397
Global Small Business Services [Member] | Card Member Receivables [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	6	5
Global Small Business Services [Member] | Card Member Receivables [Member] | 60 To 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	3	4
Global Small Business Services [Member] | Card Member Receivables [Member] | 90+ Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	7	6
Global Corporate Payments [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Card Member receivables Total Aging	14,731	13,480
Global Corporate Payments [Member] | Card Member Receivables [Member] | 90+ Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	$ 119	$ 112

Card Member Receivables and L26

Card Member Receivables and Loans (Details 3)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Global Consumer Services Group [Member] | Card Member Receivables [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	1.30%	0.90%
Global Consumer Services Group [Member] | Card Member Receivables [Member] | 30+ Days Past Due as a % of Total [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	0.75%	0.82%
Global Consumer Services Group [Member] | Card Member Loans [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	1.06%	1.28%
Global Consumer Services Group [Member] | Card Member Loans [Member] | 30+ Days Past Due as a % of Total [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	0.69%	0.85%
Global Small Business Services [Member] | Card Member Receivables [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	1.56%	1.03%
Global Small Business Services [Member] | Card Member Receivables [Member] | 30+ Days Past Due as a % of Total [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	0.98%	1.10%
Global Corporate Payments [Member] | Card Member Receivables [Member] | Net Loss Ratio as a % of Charge Volume [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	0.07%	0.08%
Global Corporate Payments [Member] | Card Member Receivables [Member] | 90+ days past billing as a percentage of receivables [Member]
Credit Quality Indicator for Receivables and Loans
Credit Quality Indicators	0.81%	0.84%

Card Member Receivables and L27

Card Member Receivables and Loans (Details Textuals) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred discount revenue on Card Member receivable	$ 57	$ 43

Reserves (Details)

Reserves (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Changes in the Card Member receivable reserve for losses
Balance, January 1	$ 145	$ 110
Provisions	119	113
Other credits	32	33
Net write-offs	(119)	(94)
Other debits	(20)	(16)
Balance, June 30	$ 157	$ 146

Reserves (Details 1)

Reserves (Details 1) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Changes in the Card Member loans reserve for losses [Line Items]
Balance, January 1	$ 5	$ 5
Provisions	3	3
Net Write-Offs	(3)	(3)
Balance, June 30	$ 5	$ 5

Reserves (Details Textuals)

Reserves (Details Textuals) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Reserves For Losses (Textuals) [Abstract]
Participation interests in Card Member receivables purchased from affiliates	$ 5,500	$ 6,000
Allowance for Card Member Receivables, Recoveries of Bad Debts	55	45
Allowance for Card Member Loans, Recoveries of Bad Debts	1	1
Participation Interest in Card Member Receivables Sold to Affiliates	$ 3,400	$ 2,600

Derivatives and Hedging Activ31

Derivatives and Hedging Activities (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	$ 194	$ 63
Total fair value of derivative liabilities	22	95
Cash collateral netting, Liabilities	0	0
Cash collateral netting, Assets	0	0
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset and derivative liability netting	(10)	(26)
Total derivatives assets, net	184	37
Other Assets [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	129	54
Other Assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	65	9
Other Assets [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	0	0
Other Assets [Member] | Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	129	54
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative asset and derivative liability netting	(10)	(26)
Total derivatives liabilities, net	12	69
Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	8	38
Other Liabilities [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	14	57
Other Liabilities [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	1	0
Other Liabilities [Member] | Net Investment Hedging [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	$ 7	$ 38

Derivatives and Hedging Activ32

Derivatives and Hedging Activities (Details 1) - Fair Value Hedging [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Other Expense [Member]
Derivative Instruments, Gains (Losses) [Line Items]
Fixed-rate long-term debt		$ (37)		$ (8)
Derivatives designated as hedging instruments		20		(30)
Total		$ (17)		$ (38)
Interest Expense [Member]
Derivative Instruments, Gains (Losses) [Line Items]
Fixed-rate long-term debt	$ 12		$ 127
Derivatives designated as hedging instruments	(20)		(115)
Total	$ (8)		$ 12

Derivatives and Hedging Activ33

Derivatives and Hedging Activities (Details Textuals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Derivatives And Hedging Activities Textuals [Abstract]
Net (increase) reduction in interest expense on long term debt.	$ (19)	$ 17	$ (23)	$ 39
Derivative [Line Items]
Notional amount of long-term debt	15,000		15,000		$ 16,000
(Gain) loss on net investment hedges	(105)	40	(62)	168
Amounts reclassified from AOCI into income	0	0	0	0
Margin on interest rate swap not netted	81		81		115
Gain in Changes of Fair Value of Derivatives not designated as hedges	15	$ 6	30	$ 10
Cumulative fair value hedging adjustment of hedged item in fair value hedge	(282)		(282)		(155)
Fair Value Hedging [Member]
Derivative [Line Items]
Notional amount of long-term debt	$ 15,300		$ 15,300		$ 16,200

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Assets [Abstract]
Derivatives	$ 194	$ 63
Liabilities [Abstract]
Derivatives	22	95
Level 2 [Member]
Assets [Abstract]
Derivatives	194	63
Total assets	194	63
Liabilities [Abstract]
Derivatives	22	95
Total liabilities	$ 22	$ 95

Fair Value (Details 1)

Fair Value (Details 1) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	$ 185	$ 196	$ 1,313	$ 1,211
Financial assets carried at other than fair value [Abstract]
Card Member loans, less reserves	576	556
Loans to affiliates and other	13,402	14,527
Financial liabilities carried at other than fair value [Abstract]
Total Long-term Debt	23,564	24,153
Long Term Debt with Affiliates	265	270
Carrying Value [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	200	200
Other financial assets	22,900	20,600
Financial assets carried at other than fair value [Abstract]
Card Member loans, less reserves	600	600
Loans to affiliates and other	13,400	14,500
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	10,500	8,600
Financial liabilities carried at other than fair value [Abstract]
Total Long-term Debt	23,600	24,200
Long Term Debt with Affiliates	300	300
Estimate of Fair Value, Fair Value Disclosure [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	200	200
Other financial assets	22,900	20,600
Financial assets carried at other than fair value [Abstract]
Card Member loans, less reserves	600	600
Loans to affiliates and other	13,300	14,400
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	10,500	8,600
Financial liabilities carried at other than fair value [Abstract]
Total Long-term Debt	23,700	24,500
Long Term Debt with Affiliates	300	300
Level 1 [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	200	200
Other financial assets	100	100
Financial assets carried at other than fair value [Abstract]
Card Member loans, less reserves	0	0
Loans to affiliates and other	0	0
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	0	0
Financial liabilities carried at other than fair value [Abstract]
Total Long-term Debt	0	0
Long Term Debt with Affiliates	0	0
Level 2 [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	0	0
Other financial assets	22,800	20,500
Financial assets carried at other than fair value [Abstract]
Card Member loans, less reserves	0	0
Loans to affiliates and other	8,400	10,000
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	10,500	8,600
Financial liabilities carried at other than fair value [Abstract]
Total Long-term Debt	23,700	24,500
Long Term Debt with Affiliates	300	300
Level 3 [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	0	0
Other financial assets	0	0
Financial assets carried at other than fair value [Abstract]
Card Member loans, less reserves	600	600
Loans to affiliates and other	4,900	4,400
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	0	0
Financial liabilities carried at other than fair value [Abstract]
Total Long-term Debt	0	0
Long Term Debt with Affiliates	$ 0	$ 0

Fair Value (Details Textuals)

Fair Value (Details Textuals) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Assets measured at fair value for impairment	$ 0	$ 0

Variable Interest Entity (Detai

Variable Interest Entity (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Total assets	$ 37,236	$ 35,889
Total liabilities	35,159	34,018
Variable Interest Entity, Primary Beneficiary [Member] | American Express Canada Credit Corporation Member [Member]
Variable Interest Entity [Line Items]
Total assets	8	466
Total liabilities	0	457
Liabilities eliminated in consolidation	0	0
Assets eliminated in consolidation	$ 0	$ 0

Changes In Accumulated Other 38

Changes In Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Changes in other comprehensive income
Balances as of start of period			$ (998)
Net translation (loss) gain of investments in foreign operations	$ (23)	$ (3)	(31)	$ (245)
Balances as of end of period	(1,009)		(1,009)
Foreign Currency Translation Adjustment [Member]
Changes in other comprehensive income
Balances as of start of period	(988)	(955)	(998)	(1,263)
Net translation (loss) gain of investments in foreign operations	(126)	54	(73)	490
Net gains (losses) related to hedges of investment in foreign operations	105	(40)	62	(168)
Net change in accumulated other comprehensive loss	(21)	14	(11)	322
Balances as of end of period	$ (1,009)	$ (941)	$ (1,009)	$ (941)

Changes in Accumulated Other 39

Changes in Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Other comprehensive loss
Foreign currency translation adjustments, tax	$ (23)	$ (3)	$ (31)	$ (245)
Net investment hedges	33	(24)	19	(100)
Total tax impact	$ 10	$ (27)	$ (12)	(345)
Tax Benefits Recognized in the period				$ 289

Changes in Accumulated Other 40

Changes in Accumulated Other Comprehensive Income (Loss) (Details Textuals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Loss Income (Textuals) [Abstract]
Amount of gain loss reclassified from accumulated other comprehensive income to income	$ 0	$ 0	$ 0	$ 0

Income Taxes (Details Textuals)

Income Taxes (Details Textuals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Taxes (Textuals) [Line Items]
U.S. Tax Act Discrete Tax Benefit				$ 24
Effective tax rate	5.40%	(9.60%)	(8.00%)	1.70%
Reduction in Effective Tax Rate			11.90%
Tax Year 2018 [Member]
Income Taxes (Textuals) [Line Items]
U.S. statutory federal income tax rate	21.00%	35.00%	21.00%	35.00%
Internal Revenue Service (IRS) [Member] | Earliest Year [Member]
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction			2,008
Internal Revenue Service (IRS) [Member] | Latest Year [Member]
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction			2,014