American Express Credit 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 05, 2019
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-6908
Entity Registrant Name	AMERICAN EXPRESS CREDIT CORP
Entity Central Index Key	0000004969
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-1988350
Entity Address, Address Line One	200 Vesey Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10285
City Area Code	212
Local Phone Number	640-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		1,504,938
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Shell Company	false
Medium-Term Senior Notes Series [Member]
Entity Listings [Line Items]
Title of 12(b) Security	2.375 percent Medium-Term Senior Notes Series F, due May 26, 2020
Trading Symbol	AXP/20
Security Exchange Name	NYSE
Senior Notes, due 2021 [Member]
Entity Listings [Line Items]
Title of 12(b) Security	0.625 percent Senior Notes, due 2021
Trading Symbol	AXP/21
Security Exchange Name	NYSE

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues
Discount revenue earned from purchased Card Member receivables and Card Member loans	$ 305	$ 271	$ 913	$ 733
Interest income from affiliates and other	62	99	267	278
Finance revenue	21	16	58	44
Total revenues	388	386	1,238	1,055
Expenses
Provisions for losses	56	68	170	190
Interest expense	117	165	417	469
Interest expense to affiliates	102	56	337	125
Other, net	(18)	(10)	(66)	(37)
Total expenses	257	279	858	747
Pretax income	131	107	380	308
Income tax provision (benefit)	21	(2)	55	(18)
Net income	$ 110	$ 109	$ 325	$ 326

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 110	$ 109	$ 325	$ 326
Other comprehensive loss:
Foreign currency translation adjustments, net of tax	(24)	(16)	(39)	(27)
Other comprehensive loss	(24)	(16)	(39)	(27)
Comprehensive income	$ 86	$ 93	$ 286	$ 299

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 33	$ 102
Card Member receivables, less reserves	24,787	24,429
Card Member loans, less reserves	634	636
Loans to affiliates and other	9,222	14,136
Due from affiliates	141	210
Other assets	320	529
Total assets	35,137	40,042
Liabilities
Short-term debt	33	826
Short-term debt to affiliates	6,203	5,899
Long-term debt	13,448	20,447
Long-term debt to affiliates	10,053	7,523
Total debt	29,737	34,695
Due to affiliates	2,645	2,869
Accrued interest and other liabilities	273	282
Total liabilities	32,655	37,846
Shareholder’s Equity
Common stock	0	0
Additional paid-in capital	161	161
Retained earnings	3,420	3,095
Accumulated other comprehensive loss
Foreign currency translation adjustments, net of tax	(1,099)	(1,060)
Total accumulated other comprehensive loss	(1,099)	(1,060)
Total shareholder’s equity	2,482	2,196
Total liabilities and shareholder’s equity	$ 35,137	$ 40,042

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Card Member receivables, reserves	$ 168	$ 167
Card Member loans, reserves	$ 8	$ 5
Shareholder’s Equity
Common shares, par value (in dollars per share)	$ 0.10	$ 0.10
Common shares, authorized	3,000,000	3,000,000
Common shares, issued	1,500,000	1,500,000
Common shares, outstanding	1,500,000	1,500,000
Accumulated other comprehensive loss
Foreign currency translation adjustments, tax	$ 45	$ 34

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities
Net income		$ 325	$ 326
Adjustments to reconcile net income to net cash provided by operating activities:
Provisions for losses		170	190
Amortization of underwriting expense		15	19
Deferred taxes		12	(40)
Changes in operating assets and liabilities:
Interest, taxes and other amounts due to/from affiliates		37	(86)
Other operating assets and liabilities		484	144
Net cash provided by operating activities		1,043	553
Cash Flows from Investing Activities
Net increase in Card Member receivables and Card Member loans		(666)	(5,991)
Net (increase) decrease in loans to affiliates and other	[1]	(304)	766
Net (decrease) increase in due to/from affiliates		(155)	1,632
Net cash used in investing activities		(1,125)	(3,593)
Cash Flows from Financing Activities
Net decrease in short-term debt		(793)	(1,149)
Net increase in short-term debt to affiliates	[2]	305	6,841
Principal payments of long-term debt		(7,150)	(2,647)
Proceeds from long-term debt to affiliates	[2]	26,964	0
Principal payments of long-term debt to affiliates	[1],[2]	(19,313)	0
Net cash provided by financing activities		13	3,045
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash		3	(3)
Net (decrease) increase in cash, cash equivalents and restricted cash		(66)	2
Cash, cash equivalents and restricted cash at beginning of period		195	296
Cash, cash equivalents and restricted cash at end of period		$ 129	$ 298
[1]	As a result of funding structure changes in the ordinary course of business, Credco terminated the intercompany loan agreement with American Express Limited and American Express International, Inc. and settled the related borrowings from American Express Company during the nine months ended September 30, 2019.
[2]	Pursuant to the revision of the master note arrangement with American Express Company during the fourth quarter of 2018, Credco has changed the classification of the net borrowings from short-term debt to affiliates to long-term debt to affiliates.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Non-cash Investing activity
Termination of intercompany loan agreement with American Express Limited and American Express International, Inc.	[1]	$ 5,109	$ 0
Non-cash Financing activity
Settlement of borrowings with American Express Company	[1]	(5,109)	0
Cash and cash equivalents per Consolidated Balance Sheets		33	200	$ 102	$ 196
Restricted cash included in Other assets per Consolidated Balance Sheets	[2]	96	98	93	100
Total Cash, cash equivalents and restricted cash		$ 129	$ 298	$ 195	$ 296
[1]	As a result of funding structure changes in the ordinary course of business, Credco terminated the intercompany loan agreement with American Express Limited and American Express International, Inc. and settled the related borrowings from American Express Company during the nine months ended September 30, 2019.
[2]	Represents cash deposited with Amex Bank of Canada relating to the purchase of Card Member receivables and the collateralized loan arrangement for transfer of Card Member loans.

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]
Beginning Balance at Dec. 31, 2017	$ 1,871	$ 0	$ 161	$ (998)	$ 2,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	326				326
Other comprehensive income (loss)	(27)			(27)	0
Ending Balance at Sep. 30, 2018	2,170	0	161	(1,025)	3,034
Beginning Balance at Jun. 30, 2018	2,077	0	161	(1,009)	2,925
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	109				109
Other comprehensive income (loss)	(16)			(16)	0
Ending Balance at Sep. 30, 2018	2,170	0	161	(1,025)	3,034
Beginning Balance at Dec. 31, 2018	2,196	0	161	(1,060)	3,095
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	325				325
Other comprehensive income (loss)	(39)			(39)	0
Ending Balance at Sep. 30, 2019	2,482	0	161	(1,099)	3,420
Beginning Balance at Jun. 30, 2019	2,396	0	161	(1,075)	3,310
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	110				110
Other comprehensive income (loss)	(24)			(24)	0
Ending Balance at Sep. 30, 2019	$ 2,482	$ 0	$ 161	$ (1,099)	$ 3,420

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company Credco 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 the American Express charge cards issued in the United States and in certain countries outside 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 is required to maintain its fixed charge coverage ratio at a minimum of 1.25, which is achieved by charging appropriate discount rates on the purchase of receivables 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, whilst maintaining the intention for these transactions to occur on an arm's-length basis. Should it be required, American Express would provide Credco with financial support with respect to maintenance of its minimum fixed charge coverage ratio. The revenue earned by Credco from purchasing Card Member receivables and Card Member loans at a discount is reported as discount revenue on the Consolidated Statements of Income. 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, 2018 (the 2018 Form 10-K). If not materially different, certain note disclosures included therein have been omitted from these Consolidated Financial Statements. The interim Consolidated Financial Statements included in this report have not been audited. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim Consolidated Financial Statements, 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 Statements 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 AND ADOPTED ACCOUNTING STANDARDS Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance for the recognition of credit losses on financial instruments, effective January 1, 2020. The guidance introduces a new credit reserving methodology known as the Current Expected Credit Loss (CECL) methodology, which differs significantly from the incurred loss approach used today and will alter the estimation process, inputs and assumptions used in estimating credit losses. The CECL methodology requires measurement of expected credit losses for the estimated life of the financial instrument, not only based on historical experience and current conditions, but also by including reasonable and supportable forecasts incorporating forward-looking information. At the date of adoption, the change in reserves will be recorded in retained earnings as a cumulative-effect adjustment. Credco continues to evaluate the impact the new guidance will have on its financial position and results of operations. As part of Credco ’ s Credco, along with American Express, continues its cross-functional implementation efforts and has substantially completed development of its CECL models. Model validation, user acceptance testing and parallel runs will continue through the remainder of 2019. Recently Adopted Accounting Standards 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 (AOCI) to retained earnings. Credco adopted the new guidance effective January 1, 2019 and did not elect the optional reclassification.

Card Member Receivables and Car

Card Member Receivables and Card Member Loans	9 Months Ended
	Sep. 30, 2019
Loans Notes Trade And Other Loans and Receivables Disclosure [Abstract]
Card Member Receivables and Card Member Loans	Card Member Receivables and Card Member Loans American Express’ charge and lending payment card products result in the generation of Card Member receivables and Card Member loans. Card Member receivables as of September 30, 2019 and December 31, 2018 consisted of: (Millions) 2019 2018 Global Consumer Services Group (a) $ 8,785 $ 8,485 Global Commercial Services (b) 16,170 16,111 Card Member receivables (c) 24,955 24,596 Less: Reserve for losses 168 167 Card Member receivables, net (d) $ 24,787 $ 24,429 (a) Comprised of U.S. and International Consumer Services. (b) Comprised of Corporate and Small Business Services. (c) Net of deferred discount revenue totaling $70 million and $68 million as of September 30, 2019 and December 31, 2018, respectively. (d) Card Member receivables modified in a troubled debt restructuring (TDR) program were immaterial. Card Member loans as of September 30, 2019 and December 31, 2018 consisted of: (Millions) 2019 2018 Global Consumer Services Group (a) $ 642 $ 641 Less: Reserve for losses 8 5 Card Member loans, net (b) $ 634 $ 636 (a) Comprised of International Consumer Services. (b) Card Member loans modified in a TDR program were immaterial. Card Member Receivables and Card Member 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 presents the aging of Card Member receivables and Card Member loans as of September 30, 2019 and December 31, 2018: 2019 (Millions) Current 30-59 60-89 90+ Total Card Member Receivables: Global Consumer Services Group $ 8,702 $ 29 $ 15 $ 39 $ 8,785 Global Commercial Services Global Small Business Services 1,926 10 4 9 1,949 Global Corporate Payments (a) (b) (b) (b) 94 14,221 Card Member Loans: Global Consumer Services Group $ 636 $ 2 $ 1 $ 3 $ 642 2018 (Millions) Current 30-59 60-89 90+ Total Card Member Receivables: Global Consumer Services Group $ 8,432 $ 17 $ 12 $ 24 $ 8,485 Global Commercial Services Global Small Business Services 1,787 7 4 7 1,805 Global Corporate Payments (a) (b) (b) (b) 103 14,306 Card Member Loans: Global Consumer Services Group $ 636 $ 2 $ 1 $ 2 $ 641 (a) For Global 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 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b). (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 Card Member Loans The following tables present the key credit quality indicators as of or for the nine months ended September 30: 2019 2018 Net Write-Off Rate (a) 30+ Days Past Due as a % of Total Net Write-Off Rate (a) 30+ Days Past Due as a % of Total Card Member Receivables: Global Consumer Services Group 1.04 % 0.94 % 1.24 % 0.62 % Global Small Business Services 1.31 % 1.18 % 1.51 % 0.86 % Card Member Loans: Global Consumer Services Group 1.44 % 0.93 % 0.93 % 0.68 % 2019 2018 Net Loss Ratio as a % of Charge Volume (b) 90+ Days Past Billing as a % of Receivables Net Loss Ratio as a % of Charge Volume (b) 90+ Days Past Billing as a % of Receivables Card Member Receivables: Global Corporate Payments 0.06 % 0.66 % 0.07 % 0.78 % (a) 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. (b) 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	9 Months Ended
	Sep. 30, 2019
Reserves for Losses [Abstract]
Reserve for Losses	Reserves for Losses Reserves for losses relating to Card Member receivables and Card Member 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 nine months ended September 30: (Millions) 2019 2018 Balance, January 1 $ 167 $ 145 Provisions 160 186 Other credits (a) 13 51 Net write-offs (b) (166) (173) Other debits (c) (6) (26) Balance, September 30 $ 168 $ 183 (a) Primarily reserve balances related to new groups of, and participation interests in, Card Member receivables purchased from affiliates, totaling $2.7 billion and $9.7 billion for the nine months ended September 30, 2019 and 2018, respectively. (b) Net of recoveries of $94 million and $84 million for the nine months ended September 30, 2019 and 2018, respectively. (c) Primarily reserve balances related to participation interests in Card Member receivables sold to an affiliate. Participation interests in Card Member receivables sold totaled $1.1 billion and $4.5 billion for the nine months ended September 30, 2019 and 2018, respectively. Changes in Card Member Loans Reserve for Losses The following table presents changes in the Card Member loans reserve for losses for the nine months ended September 30: (Millions) 2019 2018 Balance, January 1 $ 5 $ 5 Provisions 10 4 Net write-offs (a) (7) (4) Balance, September 30 $ 8 $ 5 (a) Net of recoveries of $1.0 million for both the nine months ended September 30, 2019 and 2018.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Credco uses derivative financial instruments 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 exposure to various market risks and, for that reason, are an integral component of Credco ’ s In relation to Credco ’s ’s ’s ’s A majority of Credco ’s The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of September 30, 2019 and December 31, 2018: Other Assets Other Liabilities Fair Value Fair Value (Millions) 2019 2018 2019 2018 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a)(b) $ — $ — $ — $ — Net investment hedges - Foreign exchange contracts 65 57 2 10 Total derivatives designated as hedging instruments 65 57 2 10 Derivatives not designated as hedging instruments: Foreign exchange contracts 62 220 78 6 Total derivatives, gross 127 277 80 16 Less: Derivative asset and derivative liability netting (c) (43) (11) (43) (11) Total derivatives, net $ 84 $ 266 $ 37 $ 5 (a) For Credco ’s (b) Credco posted $41 million and $55 million as of September 30, 2019 and December 31, 2018, respectively, as initial margin on its centrally cleared interest rate swaps; such amounts are recorded within Other assets on Credco ’s (c) Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparties under an enforceable master netting arrangement. Fair Value Hedges Credco is exposed to interest rate risk associated with its fixed-rate debt obligations. At the time of issuance, certain fixed-rate long-term debt obligations are designated in fair value hedging relationships, using interest rate swaps, to economically convert the fixed interest rate to a floating interest rate. Credco has $8.8 billion and $13.8 billion of its fixed-rate debt obligations designated in fair value hedging relationships as of September 30, 2019 and December 31, 2018, respectively. The following table presents the gains and losses recognized in Interest expense on the Consolidated Statements of Income associated with the fair value hedges of Credco ’s Gains (losses) Three Months Ended Nine Months Ended (Millions) 2019 2018 2019 2018 Fixed-rate long-term debt $ (22) $ (4) $ (177) $ 123 Derivatives designated as hedging instruments 26 2 183 (113) Total $ 4 $ (2) $ 6 $ 10 The carrying values of the hedged liabilities, recorded within Long-term debt on the Consolidated Balance Sheets, were $8.7 billion and $13.5 billion as of September 30, 2019 and December 31, 2018, respectively, including the cumulative amount of fair value hedging adjustments of $6 million and $184 million for the respective periods. Credco recognized net increases of $21 million and $23 million in Interest expense on long-term debt for the three months ended September 30, 2019 and 2018, respectively, and $81 million and $46 million for the nine months ended September 30, 2019 and 2018, respectively, primarily related to the net settlements (interest accruals) on Credco ’s Net Investment Hedges Credco had notional amounts of approximately $3.0 billion and $2.9 billion of foreign currency derivatives designated as net investment hedges as of September 30, 2019 and December 31, 2018, respectively. The gain or loss on net investment hedges, net of taxes, recorded in AOCI as part of the cumulative translation adjustment, were a gain of $50 million and a loss of $3 million for the three months ended September 30, 2019 and 2018, respectively, and gains of $29 million and $59 million for the nine months ended September 30, 2019 and 2018, respectively. Derivatives Not Designated as 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 gains of $20 million and $10 million for the three months ended September 30, 2019 and 2018, respectively, and $69 million and $40 million for the nine months ended September 30, 2019 and 2018, respectively, that are recognized in Other expenses on the Consolidated Statements of Income.

Fair Values

Fair Values	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Values	Fair Values Financial Assets and Financial Liabilities Carried at Fair Value The following table summarizes Credco ’s (Millions) 2019 2018 Assets: Derivatives, gross (a) $ 127 $ 277 Total Assets 127 277 Liabilities: Derivatives, gross (a) 80 16 Total Liabilities $ 80 $ 16 (a) Refer to Note 4 for the fair values of derivative assets and liabilities, on a further disaggregated basis. Financial Assets and Financial Liabilities Carried at Other Than Fair Value The following table summarizes the estimated fair values of Credco ’s Carrying Corresponding Fair Value Amount 2019 (Billions) 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) $ — $ — $ — $ — $ — Other financial assets (b) 25.2 25.2 0.1 25.1 — Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 — — 0.6 Loans to affiliates and other 9.2 9.3 — 2.6 6.7 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 8.2 8.2 — 8.2 — Financial liabilities carried at other than fair value Long-term debt 13.4 13.7 — 13.7 — Long-term debt to affiliates $ 10.1 $ 10.3 $ — $ 10.3 $ — Carrying Corresponding Fair Value Amount 2018 (Billions) 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) $ 0.1 $ 0.1 $ 0.1 $ — $ — Other financial assets (b) 24.9 24.9 0.1 24.8 — Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 — — 0.6 Loans to affiliates and other 14.1 14.1 — 7.4 6.7 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 9.0 9.0 — 9.0 — Financial liabilities carried at other than fair value Long-term debt 20.4 20.5 — 20.5 — Long-term debt to affiliates $ 7.5 $ 7.3 $ — $ 7.3 $ — (a) Amounts reflect interest-bearing deposits. (b) Level 1 amounts reflect interest-bearing restricted cash and Level 2 amounts primarily reflect Card Member receivables. Nonrecurring Fair Value Measurements During the nine months ended September 30, 2019 and the year ended December 31, 2018, Credco did not have any assets that were measured at fair value due to impairment on a nonrecurring basis.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2019
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Changes In Accumulated Other Comprehensive Income	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 nine months ended September 30, 2019 and 2018 were as follows: Three Months Ended September 30, 2019 (Millions), net of tax Foreign Currency Balances as of June 30, 2019 $ (1,075) Net translation losses of investments in foreign operations (74) Net gains related to hedges of investments in foreign operations 50 Net change in accumulated other comprehensive loss (24) Balances as of September 30, 2019 $ (1,099) Nine Months Ended September 30, 2019 (Millions), net of tax Foreign Currency Balances as of December 31, 2018 $ (1,060) Net translation losses of investments in foreign operations (68) Net gains related to hedges of investments in foreign operations 29 Net change in accumulated other comprehensive loss (39) Balances as of September 30, 2019 $ (1,099) Three Months Ended September 30, 2018 (Millions), net of tax Foreign Currency Balances as of June 30, 2018 $ (1,009) Net translation losses of investments in foreign operations (13) Net losses related to hedges of investments in foreign operations (3) Net change in accumulated other comprehensive loss (16) Balances as of September 30, 2018 $ (1,025) Nine Months Ended September 30, 2018 (Millions), net of tax Foreign Currency Balances as of December 31, 2017 $ (998) Net translation losses of investments in foreign operations (86) Net gains related to hedges of investments in foreign operations 59 Net change in accumulated other comprehensive loss (27) Balances as of September 30, 2018 $ (1,025) The following table shows the tax impact for the three and nine months ended September 30 for the changes in Foreign Currency Translation Adjustments presented above: Tax expense (benefit) Three Months Ended Nine Months Ended (Millions) 2019 2018 2019 2018 Net translation on investments in foreign operations $ (1) $ 6 $ 2 $ (25) Net hedges of investments in foreign operations 15 (1) 9 18 Total tax impact $ 14 $ 5 $ 11 $ (7) No amounts were reclassified out of AOCI into the Consolidated Statements of Income associated with the sale or liquidation of a business for the three and nine months ended September 30, 2019 and 2018.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The results of operations of Credco are included in the consolidated U.S. federal income tax returns of American Express. Under an agreement with American Express, the provision for income taxes is recognized on a separate company basis. If benefits for net operating losses, future tax deductions 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 16.0 percent and (1.9) percent for the three months ended September 30, 2019 and 2018, respectively, and 14.5 percent and (5.8) percent for the nine months ended September 30, 2019 and 2018, respectively. The tax rate for the nine months ended September 30, 2018 includes a $24 million discrete tax benefit related to the Tax Act that reduced the reported effective tax rate by 7.8 percent. The tax rate in each of the periods reflects the geographic mix of expenses in the United States that generate 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 ’s Credco is under continuous examination by the Internal Revenue Service (IRS) and tax authorities in other countries and states in which it has significant business operations. The tax years under examination and open for examination vary by jurisdiction. In 2018, Credco settled its U.S. federal income tax audits for tax years 2008-2014, and the statute of limitations for these years remain open through 2019. Tax years from 2016 onwards are open for examination by the IRS. 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

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
Summary Of Significant Accounting Policies [Line Items]
Basis of Presentation	The preparation of Consolidated Financial Statements 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 Adopted Accounting Standards	Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued new accounting guidance for the recognition of credit losses on financial instruments, effective January 1, 2020. The guidance introduces a new credit reserving methodology known as the Current Expected Credit Loss (CECL) methodology, which differs significantly from the incurred loss approach used today and will alter the estimation process, inputs and assumptions used in estimating credit losses. The CECL methodology requires measurement of expected credit losses for the estimated life of the financial instrument, not only based on historical experience and current conditions, but also by including reasonable and supportable forecasts incorporating forward-looking information. At the date of adoption, the change in reserves will be recorded in retained earnings as a cumulative-effect adjustment. Credco continues to evaluate the impact the new guidance will have on its financial position and results of operations. As part of Credco ’ s Credco, along with American Express, continues its cross-functional implementation efforts and has substantially completed development of its CECL models. Model validation, user acceptance testing and parallel runs will continue through the remainder of 2019. Recently Adopted Accounting Standards 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 (AOCI) to retained earnings. Credco adopted the new guidance effective January 1, 2019 and did not elect the optional reclassification.
Derivatives	Credco uses derivative financial instruments 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.
Not Designated as Hedging Instrument [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivatives	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.

Card Member Receivables and C_2

Card Member Receivables and Card Member Loans (Tables)	9 Months Ended
	Sep. 30, 2019
Loans Notes Trade And Other Loans and Receivables Disclosure [Abstract]
Card Member receivables segment detail	Card Member receivables as of September 30, 2019 and December 31, 2018 consisted of: (Millions) 2019 2018 Global Consumer Services Group (a) $ 8,785 $ 8,485 Global Commercial Services (b) 16,170 16,111 Card Member receivables (c) 24,955 24,596 Less: Reserve for losses 168 167 Card Member receivables, net (d) $ 24,787 $ 24,429 (a) Comprised of U.S. and International Consumer Services. (b) Comprised of Corporate and Small Business Services. (c) Net of deferred discount revenue totaling $70 million and $68 million as of September 30, 2019 and December 31, 2018, respectively. (d) Card Member receivables modified in a troubled debt restructuring (TDR) program were immaterial.
Card Member loans detail	Card Member loans as of September 30, 2019 and December 31, 2018 consisted of: (Millions) 2019 2018 Global Consumer Services Group (a) $ 642 $ 641 Less: Reserve for losses 8 5 Card Member loans, net (b) $ 634 $ 636 (a) Comprised of International Consumer Services. (b) Card Member loans modified in a TDR program were immaterial.
Aging of Card Member receivables and loans	The following table presents the aging of Card Member receivables and Card Member loans as of September 30, 2019 and December 31, 2018: 2019 (Millions) Current 30-59 60-89 90+ Total Card Member Receivables: Global Consumer Services Group $ 8,702 $ 29 $ 15 $ 39 $ 8,785 Global Commercial Services Global Small Business Services 1,926 10 4 9 1,949 Global Corporate Payments (a) (b) (b) (b) 94 14,221 Card Member Loans: Global Consumer Services Group $ 636 $ 2 $ 1 $ 3 $ 642 2018 (Millions) Current 30-59 60-89 90+ Total Card Member Receivables: Global Consumer Services Group $ 8,432 $ 17 $ 12 $ 24 $ 8,485 Global Commercial Services Global Small Business Services 1,787 7 4 7 1,805 Global Corporate Payments (a) (b) (b) (b) 103 14,306 Card Member Loans: Global Consumer Services Group $ 636 $ 2 $ 1 $ 2 $ 641 (a) For Global 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 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b). (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 loans and receivables	The following tables present the key credit quality indicators as of or for the nine months ended September 30: 2019 2018 Net Write-Off Rate (a) 30+ Days Past Due as a % of Total Net Write-Off Rate (a) 30+ Days Past Due as a % of Total Card Member Receivables: Global Consumer Services Group 1.04 % 0.94 % 1.24 % 0.62 % Global Small Business Services 1.31 % 1.18 % 1.51 % 0.86 % Card Member Loans: Global Consumer Services Group 1.44 % 0.93 % 0.93 % 0.68 % 2019 2018 Net Loss Ratio as a % of Charge Volume (b) 90+ Days Past Billing as a % of Receivables Net Loss Ratio as a % of Charge Volume (b) 90+ Days Past Billing as a % of Receivables Card Member Receivables: Global Corporate Payments 0.06 % 0.66 % 0.07 % 0.78 % (a) 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. (b) 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)	9 Months Ended
	Sep. 30, 2019
Reserves for Losses [Abstract]
Changes in Card Member Receivable Reserve for Losses	The following table presents changes in the Card Member receivables reserve for losses for the nine months ended September 30: (Millions) 2019 2018 Balance, January 1 $ 167 $ 145 Provisions 160 186 Other credits (a) 13 51 Net write-offs (b) (166) (173) Other debits (c) (6) (26) Balance, September 30 $ 168 $ 183 (a) Primarily reserve balances related to new groups of, and participation interests in, Card Member receivables purchased from affiliates, totaling $2.7 billion and $9.7 billion for the nine months ended September 30, 2019 and 2018, respectively. (b) Net of recoveries of $94 million and $84 million for the nine months ended September 30, 2019 and 2018, respectively. (c) Primarily reserve balances related to participation interests in Card Member receivables sold to an affiliate. Participation interests in Card Member receivables sold totaled $1.1 billion and $4.5 billion for the nine months ended September 30, 2019 and 2018, 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 nine months ended September 30: (Millions) 2019 2018 Balance, January 1 $ 5 $ 5 Provisions 10 4 Net write-offs (a) (7) (4) Balance, September 30 $ 8 $ 5 (a) Net of recoveries of $1.0 million for both the nine months ended September 30, 2019 and 2018.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [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 September 30, 2019 and December 31, 2018: Other Assets Other Liabilities Fair Value Fair Value (Millions) 2019 2018 2019 2018 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a)(b) $ — $ — $ — $ — Net investment hedges - Foreign exchange contracts 65 57 2 10 Total derivatives designated as hedging instruments 65 57 2 10 Derivatives not designated as hedging instruments: Foreign exchange contracts 62 220 78 6 Total derivatives, gross 127 277 80 16 Less: Derivative asset and derivative liability netting (c) (43) (11) (43) (11) Total derivatives, net $ 84 $ 266 $ 37 $ 5 (a) For Credco ’s (b) Credco posted $41 million and $55 million as of September 30, 2019 and December 31, 2018, respectively, as initial margin on its centrally cleared interest rate swaps; such amounts are recorded within Other assets on Credco ’s (c) Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparties under an enforceable master netting arrangement.
Effect of fair value hedges on results of operations	The following table presents the gains and losses recognized in Interest expense on the Consolidated Statements of Income associated with the fair value hedges of Credco ’s Gains (losses) Three Months Ended Nine Months Ended (Millions) 2019 2018 2019 2018 Fixed-rate long-term debt $ (22) $ (4) $ (177) $ 123 Derivatives designated as hedging instruments 26 2 183 (113) Total $ 4 $ (2) $ 6 $ 10

Fair Values (Tables)

Fair Values (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair value assets and liabilities measured on recurring basis	The following table summarizes Credco ’s (Millions) 2019 2018 Assets: Derivatives, gross (a) $ 127 $ 277 Total Assets 127 277 Liabilities: Derivatives, gross (a) 80 16 Total Liabilities $ 80 $ 16 (a) Refer to Note 4 for the fair values of derivative assets and liabilities, on a further disaggregated basis.
Estimated fair value of financial assets and financial liabilities	The following table summarizes the estimated fair values of Credco ’s Carrying Corresponding Fair Value Amount 2019 (Billions) 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) $ — $ — $ — $ — $ — Other financial assets (b) 25.2 25.2 0.1 25.1 — Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 — — 0.6 Loans to affiliates and other 9.2 9.3 — 2.6 6.7 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 8.2 8.2 — 8.2 — Financial liabilities carried at other than fair value Long-term debt 13.4 13.7 — 13.7 — Long-term debt to affiliates $ 10.1 $ 10.3 $ — $ 10.3 $ — Carrying Corresponding Fair Value Amount 2018 (Billions) 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) $ 0.1 $ 0.1 $ 0.1 $ — $ — Other financial assets (b) 24.9 24.9 0.1 24.8 — Financial assets carried at other than fair value Card Member loans, net 0.6 0.6 — — 0.6 Loans to affiliates and other 14.1 14.1 — 7.4 6.7 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 9.0 9.0 — 9.0 — Financial liabilities carried at other than fair value Long-term debt 20.4 20.5 — 20.5 — Long-term debt to affiliates $ 7.5 $ 7.3 $ — $ 7.3 $ — (a) Amounts reflect interest-bearing deposits. (b) Level 1 amounts reflect interest-bearing restricted cash and Level 2 amounts primarily reflect Card Member receivables.

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2019
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 nine months ended September 30, 2019 and 2018 were as follows: Three Months Ended September 30, 2019 (Millions), net of tax Foreign Currency Balances as of June 30, 2019 $ (1,075) Net translation losses of investments in foreign operations (74) Net gains related to hedges of investments in foreign operations 50 Net change in accumulated other comprehensive loss (24) Balances as of September 30, 2019 $ (1,099) Nine Months Ended September 30, 2019 (Millions), net of tax Foreign Currency Balances as of December 31, 2018 $ (1,060) Net translation losses of investments in foreign operations (68) Net gains related to hedges of investments in foreign operations 29 Net change in accumulated other comprehensive loss (39) Balances as of September 30, 2019 $ (1,099) Three Months Ended September 30, 2018 (Millions), net of tax Foreign Currency Balances as of June 30, 2018 $ (1,009) Net translation losses of investments in foreign operations (13) Net losses related to hedges of investments in foreign operations (3) Net change in accumulated other comprehensive loss (16) Balances as of September 30, 2018 $ (1,025) Nine Months Ended September 30, 2018 (Millions), net of tax Foreign Currency Balances as of December 31, 2017 $ (998) Net translation losses of investments in foreign operations (86) Net gains related to hedges of investments in foreign operations 59 Net change in accumulated other comprehensive loss (27) Balances as of September 30, 2018 $ (1,025)
Foreign currency translation adjustments - tax effect	The following table shows the tax impact for the three and nine months ended September 30 for the changes in Foreign Currency Translation Adjustments presented above: Tax expense (benefit) Three Months Ended Nine Months Ended (Millions) 2019 2018 2019 2018 Net translation on investments in foreign operations $ (1) $ 6 $ 2 $ (25) Net hedges of investments in foreign operations 15 (1) 9 18 Total tax impact $ 14 $ 5 $ 11 $ (7)

Basis of Presentation (Details

Basis of Presentation (Details Textuals)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ratio of combined earnings and fixed earnings to fixed charges required to maintain availability of credit line	1.25

Card Member Receivables and C_3

Card Member Receivables and Card Member Loans (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Accounts receivable segment information
Less: Reserve for losses	$ 168	$ 167	$ 183	$ 145
Card Member receivables, net	24,787	24,429
Deferred discount revenue on card member receivable	70	68
Card Member Receivables [Member]
Accounts receivable segment information
Card Member receivables	24,955	24,596
Less: Reserve for losses	168	167
Card Member receivables, net	24,787	24,429
Global Consumer Services Group [Member] | Card Member Receivables [Member]
Accounts receivable segment information
Card Member receivables	8,785	8,485
Global Commercial Services [Member] | Card Member Receivables [Member]
Accounts receivable segment information
Card Member receivables	$ 16,170	$ 16,111

Card Member Receivables and C_4

Card Member Receivables and Card Member Loans (Details 1) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Reserve for losses	$ 8	$ 5	$ 5	$ 5
Card Member Loans, net	634	636
Global Consumer Services Group [Member] | Card Member Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Card Member loans	642	641
Less: Reserve for losses	8	5
Card Member Loans, net	$ 634	$ 636

Card Member Receivables and C_5

Card Member Receivables and Card Member Loans (Details 2) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Card Member Receivables [Member]
Financing receivable recorded investment aging
Card Member receivables total aging	$ 24,955	$ 24,596
Global Consumer Services Group [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Current	8,702	8,432
Card Member receivables total aging	8,785	8,485
Global Consumer Services Group [Member] | Card Member Loans [Member]
Financing receivable recorded investment aging
Current	636	636
Card Member loans total aging	642	641
Global Consumer Services Group [Member] | 30-59 Days Past Due [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Period past due	29	17
Global Consumer Services Group [Member] | 30-59 Days Past Due [Member] | Card Member Loans [Member]
Financing receivable recorded investment aging
Period past due	2	2
Global Consumer Services Group [Member] | 60-89 Days Past Due [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Period past due	15	12
Global Consumer Services Group [Member] | 60-89 Days Past Due [Member] | Card Member Loans [Member]
Financing receivable recorded investment aging
Period past due	1	1
Global Consumer Services Group [Member] | 90+ Days Past Due [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Period past due	39	24
Global Consumer Services Group [Member] | 90+ Days Past Due [Member] | Card Member Loans [Member]
Financing receivable recorded investment aging
Period past due	3	2
Global Small Business Services [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Current	1,926	1,787
Card Member receivables total aging	1,949	1,805
Global Small Business Services [Member] | 30-59 Days Past Due [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Period past due	10	7
Global Small Business Services [Member] | 60-89 Days Past Due [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Period past due	4	4
Global Small Business Services [Member] | 90+ Days Past Due [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Period past due	9	7
Global Corporate Payments [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Card Member receivables total aging	14,221	14,306
Global Corporate Payments [Member] | 90+ Days Past Due [Member] | Card Member Receivables [Member]
Financing receivable recorded investment aging
Period past due	$ 94	$ 103

Card Member Receivables and C_6

Card Member Receivables and Card Member Loans (Details 3)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Global Consumer Services Group [Member] | Card Member Receivables [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	1.04%	1.24%
Global Consumer Services Group [Member] | Card Member Receivables [Member] | 30 Days Past Due as a % of Total [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	0.94%	0.62%
Global Consumer Services Group [Member] | Card Member Loans [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	1.44%	0.93%
Global Consumer Services Group [Member] | Card Member Loans [Member] | 30 Days Past Due as a % of Total [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	0.93%	0.68%
Global Small Business Services [Member] | Card Member Receivables [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	1.31%	1.51%
Global Small Business Services [Member] | Card Member Receivables [Member] | 30 Days Past Due as a % of Total [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	1.18%	0.86%
Global Corporate Payments [Member] | Card Member Receivables [Member] | Net Loss Ratio as a % of Charge Volume [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	0.06%	0.07%
Global Corporate Payments [Member] | Card Member Receivables [Member] | 90 Days Past Billing as a % of Receivables [Member]
Credit Quality Indicator for Loans and Receivables
Credit Quality Indicators	0.66%	0.78%

Reserves for Losses (Details)

Reserves for Losses (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Card Members Receivable Reserve [Roll Forward]
Balance, January 1	$ 167	$ 145
Provisions	160	186
Other credits	13	51
Net write-offs	(166)	(173)
Other debits	(6)	(26)
Balance, September 30	$ 168	$ 183

Reserves for Losses Textuals (D

Reserves for Losses Textuals (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Reserves for Losses [Abstract]
Participation interests in Card Member receivables purchased from affiliates	$ 2,700	$ 9,700
Allowance for Card Member receivables, recoveries of bad debts	94	84
Participation interests in Card Member receivables sold	$ 1,100	$ 4,500

Reserves for Losses (Details 2)

Reserves for Losses (Details 2) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Balance, January 1	$ 5	$ 5
Provisions	10	4
Net write-offs	(7)	(4)
Balance, September 30	$ 8	$ 5

Reserves for Losses Textuals _2

Reserves for Losses Textuals (Details 2) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Reserves for Losses [Abstract]
Recoveries	$ 1	$ 1

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	$ 127	$ 277
Total fair value of derivative liabilities	80	16
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset and liability netting	(43)	(11)
Total derivative assets, net	84	266
Other Assets [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	65	57
Other Assets [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] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	65	57
Other Assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	62	220
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative asset and liability netting	(43)	(11)
Total derivative liabilities, net	37	5
Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	2	10
Other Liabilities [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	0	0
Other Liabilities [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	2	10
Other Liabilities [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	$ 78	$ 6

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Details 1) - Interest Expense [Member] - Interest Rate Contracts [Member] - Fair Value Hedging [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Fixed-rate long-term debt	$ (22)	$ (4)	$ (177)	$ 123
Derivatives designated as hedging instruments	26	2	183	(113)
Total	$ 4	$ (2)	$ 6	$ 10

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Details Textuals) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Derivative [Line Items]
Derivative asset not offset	$ 0		$ 0		$ 0
Derivative liabilities not offset	0		0		0
Margin on interest rate swaps	41,000,000		41,000,000		55,000,000
Cumulative amount of fair value hedging adjustment	6,000,000		6,000,000		184,000,000
Net increase (reduction) in interest expense on long term debt and other	21,000,000	$ 23,000,000	81,000,000	$ 46,000,000
Other Expense [Member]
Derivative [Line Items]
Gain (loss) in changes in fair value of derivatives not designated as hedges	20,000,000	10,000,000	69,000,000	40,000,000
Fair Value Hedging [Member]
Derivative [Line Items]
Notional amount of long-term debt	8,800,000,000		8,800,000,000		13,800,000,000
Net Investment Hedges [Member]
Derivative [Line Items]
Notional amounts of derivatives	3,000,000,000		3,000,000,000		2,900,000,000
Reported Value Measurement [Member]
Derivative [Line Items]
Notional amount of long-term debt	8,700,000,000		8,700,000,000		$ 13,500,000,000
Accumulated Other Comprehensive Loss [Member]
Derivative [Line Items]
Gain (loss) on net investment hedges, net of taxes	$ 50,000,000	$ (3,000,000)	$ 29,000,000	$ 59,000,000

Fair Values (Details)

Fair Values (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Derivatives, gross	$ 127	$ 277
Liabilities
Derivatives, gross	80	16
Level 2 [Member]
Assets
Derivatives, gross	127	277
Total assets	127	277
Liabilities
Derivatives, gross	80	16
Total liabilities	$ 80	$ 16

Fair Values (Details 2)

Fair Values (Details 2) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	$ 33	$ 102	$ 200	$ 196
Financial assets carried at other than fair value
Card Member loans, net	634	636
Loans to affiliates and other	9,222	14,136
Financial liabilities carried at other than fair value
Long-term debt	13,448	20,447
Long-term debt to affiliates	10,053	7,523
Carrying Value [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	0	100
Other financial assets	25,200	24,900
Financial assets carried at other than fair value
Card Member loans, net	600	600
Loans to affiliates and other	9,200	14,100
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	8,200	9,000
Financial liabilities carried at other than fair value
Long-term debt	13,400	20,400
Long-term debt to affiliates	10,100	7,500
Estimate of Fair Value Measurement [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	0	100
Other financial assets	25,200	24,900
Financial assets carried at other than fair value
Card Member loans, net	600	600
Loans to affiliates and other	9,300	14,100
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	8,200	9,000
Financial liabilities carried at other than fair value
Long-term debt	13,700	20,500
Long-term debt to affiliates	10,300	7,300
Estimate of Fair Value Measurement [Member] | Level 1 [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	0	100
Other financial assets	100	100
Financial assets carried at other than fair value
Card Member loans, net	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
Long-term debt	0	0
Long-term debt to affiliates	0	0
Estimate of Fair Value Measurement [Member] | Level 2 [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	0	0
Other financial assets	25,100	24,800
Financial assets carried at other than fair value
Card Member loans, net	0	0
Loans to affiliates and other	2,600	7,400
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	8,200	9,000
Financial liabilities carried at other than fair value
Long-term debt	13,700	20,500
Long-term debt to affiliates	10,300	7,300
Estimate of Fair Value Measurement [Member] | Level 3 [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	0	0
Other financial assets	0	0
Financial assets carried at other than fair value
Card Member loans, net	600	600
Loans to affiliates and other	6,700	6,700
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	0	0
Financial liabilities carried at other than fair value
Long-term debt	0	0
Long-term debt to affiliates	$ 0	$ 0

Fair Values (Details Textuals)

Fair Values (Details Textuals) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value for impairment	$ 0	$ 0

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ (1,060)
Balance as of end of period	$ (1,099)		(1,099)
Tax impact for the changes in each component of accumulated other comprehensive (loss) income
Foreign currency translation adjustments	(1)	$ 6	2	$ (25)
Net investment hedges	15	(1)	9	18
Total tax impact	14	5	11	(7)
Foreign Currency Translation Adjustment Gains (Losses) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,075)	(1,009)	(1,060)	(998)
Net translation losses of investments in foreign operations	(74)	(13)	(68)	(86)
Net gains (losses) related to hedges of investments in foreign operations	50	(3)	29	59
Net change in accumulated other comprehensive loss	(24)	(16)	(39)	(27)
Balance as of end of period	$ (1,099)	$ (1,025)	$ (1,099)	$ (1,025)

Changes in Accumulated Other _4

Changes in Accumulated Other Comprehensive Income Textuals (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Income and Expenses [Abstract]
Amount of gain (loss) reclassified from accumulated other comprehensive income	$ 0	$ 0	$ 0	$ 0

Income Taxes (Details Textuals)

Income Taxes (Details Textuals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Examination [Line Items]
Actual tax rates	16.00%	(1.90%)	14.50%	(5.80%)
U.S. Tax Act discrete tax (benefit) charge				$ 24
Reduction in effective tax rate				7.80%
Internal Revenue Service (IRS) [Member]
Income Tax Examination [Line Items]
Open tax years by major tax jurisdiction			2016
Earliest Year [Member] | Internal Revenue Service (IRS) [Member]
Income Tax Examination [Line Items]
Tax Audit Settlement Years					2008
Latest Year [Member] | Internal Revenue Service (IRS) [Member]
Income Tax Examination [Line Items]
Tax Audit Settlement Years					2014