American Express Credit 10-K 25 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 25, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	1-6908
Entity Registrant Name	AMERICAN EXPRESS CREDIT CORP
Entity Central Index Key	0000004969
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
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
Title of 12(b) Security	0.625 percent Senior Notes, due November 22, 2021
Trading Symbol	AXP/21
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		1,504,938

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Discount revenue earned from purchased Card Member receivables and Card Member loans	$ 584	$ 1,204	$ 1,017
Interest income from affiliates and other	166	332	383
Finance revenue	80	79	61
Total revenues	830	1,615	1,461
Expenses
Provisions for credit losses	242	230	249
Interest expense	201	521	626
Interest expense to affiliates	75	433	225
Other, net	(10)	(81)	(55)
Total expenses	508	1,103	1,045
Pretax income	322	512	416
Income tax provision	121	94	29
Net income (loss)	$ 201	$ 418	$ 387

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 201	$ 418	$ 387
Other comprehensive loss:
Foreign currency translation adjustments, net of tax	(12)	(27)	(62)
Other comprehensive loss:	(12)	(27)	(62)
Comprehensive income	$ 189	$ 391	$ 325

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 601	$ 149
Loans to affiliates and other	10,890	10,345
Due from affiliates	6	652
Other assets	244	129
Total assets	24,308	37,357
Liabilities
Short-term debt	0	3,216
Short-term debt to affiliates	8,569	6,225
Long-term debt	7,037	13,469
Long-term debt with affiliates	822	9,292
Total debt	16,428	32,202
Due to affiliates	4,344	2,133
Accrued interest and other liabilities	641	435
Total liabilities	21,413	34,770
Shareholder's Equity
Common stock	0	0
Additional paid-in-capital	161	161
Retained earnings	3,833	3,513
Accumulated other comprehensive loss:
Foreign currency translation adjustments, net of tax	(1,099)	(1,087)
Total accumulated other comprehensive loss	(1,099)	(1,087)
Total shareholder's equity	2,895	2,587
Total liabilities and shareholder's equity	24,308	37,357
Card Member Receivables [Member]
Assets
Financing receivables, net	12,087	25,395
Card Member Loans [Member]
Assets
Financing receivables, net	$ 480	$ 687

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Shareholder's Equity
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized (in shares)	3,000,000	3,000,000
Common stock, issued (in shares)	1,500,000	1,500,000
Common stock, outstanding (in shares)	1,500,000	1,500,000
Accumulated other comprehensive loss:
Foreign currency translation adjustments, tax	$ 5	$ 25
Card Member Receivables [Member]
Assets
Financing receivables, reserves for credit losses	70	162
Card Member Loans [Member]
Assets
Financing receivables, reserves for credit losses	$ 20	$ 10

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income		$ 201	$ 418	$ 387
Adjustments to reconcile net income to net cash provided by operating activities:
Provisions for credit losses		242	230	249
Amortization of underwriting expense		13	19	25
Deferred taxes		(143)	13	(35)
Changes in operating assets and liabilities:
Interest, taxes and other amounts due to/from affiliates		(54)	(247)	(90)
Other operating assets and liabilities		340	344	405
Net cash provided by operating activities		599	777	941
Cash Flows from Investing Activities
Net decrease (increase) in Card Member receivables and Card Member loans	[1]	8,086	(1,226)	(4,984)
Net increase in loans to affiliates and other	[1],[2]	(68)	(1,128)	(67)
Net increase (decrease) in due to/from affiliates		2,729	(924)	978
Net cash provided by (used in) investing activities		10,747	(3,278)	(4,073)
Cash Flows from Financing Activities
Net (decrease) increase in short-term debt		(3,216)	2,390	(482)
Net increase (decrease) in short-term debt to affiliates		2,345	327	(97)
Proceeds from long-term debt		20	18	25
Principal payments of long-term debt		(6,620)	(7,170)	(3,672)
Proceeds from long-term debt to affiliates		8,030	33,559	11,812
Principal payments of long-term debt to affiliates	[1],[2]	(11,456)	(26,674)	(4,546)
Net cash (used in) provided by financing activities		(10,897)	2,450	3,040
Effect of foreign currency exchange rates on cash and cash equivalents		3	5	(9)
Net increase (decrease) in cash and cash equivalents		452	(46)	(101)
Cash and cash equivalents at beginning of period		149	195	296
Cash and cash equivalents at end of period		$ 601	$ 149	$ 195
[1]	Primarily driven by removal of U.S. Consumer and Small Business Card Member receivables from the American Express Issuance Trust II (the Charge Trust) and replacement of the same with U.S. Corporate Card Member receivables by American Express Travel Related Services Company, Inc. (TRS) during the three months ended March 31, 2020. To effect this change, on January 7, 2020, Credco sold $5.2 billion of U.S. Corporate Card Member receivables to TRS. Settlement of this transaction was undertaken through borrowings from American Express Company.
[2]	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 second quarter of 2019.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions		Jan. 07, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-cash Investing activities
Sales of U.S Corporate Card Member receivables to TRS	[1]		$ 5,493	$ 0	$ 0
Lending to American Express Company	[1]		(416)	0	0
Termination of intercompany loan agreement with American Express Limited and American Express International, Inc.	[2]		0	5,109	0
Non-cash Financing activities
Settlement of borrowings with American Express Company			822	9,292	7,523
Cash and cash equivalents per Consolidated Balance Sheets			601	149	195
Restricted cash included in Cash and cash equivalents	[3]		120	116	93
Total Cash and cash equivalents excluding restricted cash	[4]		481	33	102
Global Corporate Payments [Member] | Card Member Receivables [Member]
Non-cash Investing activities
Sales of U.S Corporate Card Member receivables to TRS		$ 5,200
Settlement of Borrowings with American Express Company [Member]
Non-cash Financing activities
Settlement of borrowings with American Express Company	[1],[2]		$ (5,077)	$ (5,109)	$ 0
[1]	Primarily driven by removal of U.S. Consumer and Small Business Card Member receivables from the American Express Issuance Trust II (the Charge Trust) and replacement of the same with U.S. Corporate Card Member receivables by American Express Travel Related Services Company, Inc. (TRS) during the three months ended March 31, 2020. To effect this change, on January 7, 2020, Credco sold $5.2 billion of U.S. Corporate Card Member receivables to TRS. Settlement of this transaction was undertaken through borrowings from American Express Company.
[2]	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 second quarter of 2019.
[3]	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.
[4]	Primarily represents deposits with American Express National Bank (AENB). Refer to Note 1 for additional information.

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]		Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance at Dec. 31, 2017	$ 1,871			$ 0	$ 161	$ (998)	$ 2,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	387						387
Other comprehensive loss	(62)					(62)
Ending balance at Dec. 31, 2018	2,196			0	161	(1,060)	3,095
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	418						418
Other comprehensive loss	(27)					(27)
Ending balance at Dec. 31, 2019	2,587	$ 119	[1]	0	161	(1,087)	3,513	$ 119	[1]
Ending balance at Jan. 01, 2020								119
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of new accounting guidance, tax		21
Beginning balance at Dec. 31, 2019	$ 2,587	119	[1]	0	161	(1,087)	3,513	$ 119	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Net income	$ 201						201
Other comprehensive loss	(12)					(12)
Ending balance at Dec. 31, 2020	$ 2,895			$ 0	$ 161	$ (1,099)	$ 3,833
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of new accounting guidance		$ 140
[1]	Represents $140 million, net of tax of $21 million, related to the impact as of January 1, 2020, of adopting the new accounting guidance for the recognition of credit losses on certain financial instruments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company American Express Credit Corporation (Credco) is a wholly owned subsidiary of 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 executes material transactions with its affiliates. The agreements between Credco and its affiliates provide that the parties intend that the transactions thereunder be conducted on an arm’s-length basis and the price at which receivables are sold to Credco be at fair value. Credco maintains its fixed charge coverage ratio (FCCR) at a minimum of 1.25. The FCCR 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 FCCR, whilst complying with the parties’ intention for these transactions to occur on an arm’s-length basis. Should it be required, TRS would provide Credco with financial support in the form of capital contributions with respect to maintenance of its 1.25 minimum FCCR as required in its committed bank credit facility. The revenue earned by Credco from purchasing Card Member receivables and Card Member loans at a discount is reported as Discount revenue earned from purchased Card Member receivables and Card Member loans on the Consolidated Statements of Income. Principles of Consolidation The Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Significant intercompany transactions are eliminated. Credco consolidates entities in which Credco holds a “controlling financial interest.” For voting interest entities, Credco is considered to hold a controlling financial interest when it is able to exercise control over the investees’ operating and financial decisions. Foreign Currency Monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars based upon exchange rates prevailing at the end of the reporting period; non-monetary assets and liabilities are translated at the historic exchange rate at the date of the transaction; revenues and expenses are translated at the average month-end exchange rates during the year. Resulting translation adjustments, along with any related qualifying hedge and tax effects, are included in accumulated other comprehensive income (loss) (AOCI), a component of shareholder’s equity. Translation adjustments, including qualifying hedge and tax effects, are reclassified to earnings upon the sale or substantial liquidation of investments in foreign operations. Gains and losses related to transactions in a currency other than the functional currency are reported net in Other, net expenses, in Credco’s Consolidated Statements of Income. Amounts Based on Estimates and Assumptions Accounting estimates are an integral part of the Consolidated Financial Statements. These estimates are based, in part, on Credco’s management assumptions concerning future events. Among the more significant assumptions are those that relate to reserves for Card Member credit losses on receivables and loans and income taxes. These accounting estimates reflect the best judgment of Credco’s management, but actual results could differ. Discount Revenue Earned from Purchased Card Member Receivables and Card Member Loans Credco earns discount revenue from purchasing Card Member receivables and Card Member loans at a discount to par value. The discount is deferred and recognized as revenue over the period that the receivables and loans are estimated to be outstanding or funded. Estimates are based on the historical average life of Card Member receivables and Card Member loans. Interest Income from Affiliates Interest income from affiliates is earned on interest-bearing loans made by Credco to affiliates. Interest income is accrued primarily using the average daily balance method on loans and is recognized based on the outstanding loan principal amount and interest rates specified in the agreements until the outstanding loan balance is paid. Finance Revenue Finance revenue is assessed using the average daily balance method for Card Member loans and is recognized based upon the loan principal amount outstanding in accordance with the terms of the applicable account agreement until the outstanding balance is paid or written off. Interest Expense Interest expense includes interest incurred primarily to fund Card Member receivables and Card Member loans, general corporate purposes and liquidity needs, and is recognized as incurred. Cash and Cash Equivalents Cash and cash equivalents include cash and amounts due from banks, interest-bearing bank balances including restricted cash, and other highly liquid investments with original maturities of 90 days or less. Interest-bearing restricted cash primarily 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. Other Significant Accounting Policies The following table identifies Credco’s other significant accounting policies, along with the related Note and page number where the Note can be found. Significant Accounting Policy Note Note Title Page Card Member Receivables and Card Member Loans Note 2 Card Member Receivables and Card Member Loans 41 Reserves for Credit Losses Note 3 Reserves for Credit Losses 44 Derivative Financial Instruments and Hedging Activities Note 6 Derivatives and Hedging Activities 47 Fair Value Measurements Note 7 Fair Values 50 Income Taxes Note 10 Income Taxes 57 CLASSIFICATION OF VARIOUS ITEMS Certain reclassifications of prior period amounts have been made to conform to the current period presentation, including reclassification of restricted cash from Other assets to Cash and cash equivalents on the Consolidated Balance Sheets. RECENTLY ISSUED AND ADOPTED ACCOUNTING STANDARDS In March 2020, the Financial Accounting Standards Board issued new accounting guidance related to the effects of reference rate reform on financial reporting. The guidance, effective for reporting periods through December 31, 2022, provides accounting relief for contract modifications that replace an interest rate impacted by reference rate reform (e.g., LIBOR) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. Credco adopted the guidance as of March 31, 2020, with no material impact on Credco’s financial position, results of operations and cash flows. There were no significant changes to Credco’s accounting policies, business processes or internal controls as a result of adopting the new guidance. Effective January 1, 2020, Credco adopted the new credit reserving methodology, applicable to certain financial instruments, known as the Current Expected Credit Loss (CECL) methodology under a modified retrospective transition. 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. Upon implementation, Card Member receivable reserves decreased by $147 million and Card Member loan reserves increased by $7 million, along with the associated current and deferred tax impact of $21 million, and cumulative effect adjustment to the opening balance of retained earnings, net of tax, of $119 million. There were no material changes to Credco’s business processes or internal controls as a result of adopting the new guidance. Refer to Note 3 for additional information on how Credco’s management estimates reserves for credit losses in accordance with the CECL methodology. Other Information Effective February 1, 2020, TRS removed U.S. Consumer and Small Business Card Member receivables from the Charge Trust and substantially replaced them with U.S. Corporate Card Member receivables in two phases. On February 1, 2020 and April 20, 2020, TRS transferred $5.2 billion and $1.7 billion, respectively, of U.S. Corporate Card Member receivables to the Charge Trust. Since Credco maintains participation interests in the Charge Trust, these transactions resulted in Credco (i) no longer having a $7.2 billion interest in U.S. Consumer and Small Business Card Member receivables and (ii) having an interest in the U.S. Corporate Card Member receivables in the Charge Trust. The settlement of $7.2 billion related to the U.S. Consumer and Small Business portfolio was used to repay borrowings from American Express Company leading to a reduction in Long-term debt to affiliates of $7.2 billion . In the month of June 2020, Credco restructured a number of its intercompany loan arrangements to further enhance funding flexibility and effectiveness. Credco borrowed $7.1 billion from TRS to repay borrowings from AE Exposure Management Limited of $4.7 billion. The excess of $2.2 billion was deposited with AENB, which was reported as part of Cash and cash equivalents as of June 30, 2020. During the second half of the year, amounts were withdrawn from AENB to meet business funding requirements resulting in $0.5 billion in deposits remaining with AENB.

Card Member Receivables and Car

Card Member Receivables and Card Member Loans	12 Months Ended
	Dec. 31, 2020
Receivables [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. Reserves for reporting periods beginning on or after January 1, 2020 are presented using the CECL methodology, while comparative information continues to be reported in accordance with the incurred loss methodology in effect for prior periods. Card Member Receivables Card Member receivables represent amounts due on American Express charge card products. For American Express, the Card Member receivables are recorded at the time a Card Member enters into a point-of-sale transaction with a merchant. Each charge card transaction is authorized based on its likely economics, a Card Member’s most recent credit information and spend patterns. Charge Card Members generally must pay the full amount billed each month. Credco records these Card Member receivables at the time they are purchased from TRS and certain of its subsidiaries that issue the card (card issuers). Card Member receivable balances are presented on the Consolidated Balance Sheets, net of reserves for credit losses (refer to Note 3). Card Member receivables also include participation interests purchased from an affiliate. Participation interests in Card Member receivables represent undivided interests in the cash flows of the non-interest-earning Card Member receivables. In conjunction with TRS’ securitization program, Credco, through its wholly owned subsidiary, Credco Receivables Corporation (CRC), purchases participation interests from American Express Receivables Financing Corporation VIII LLC (RFC VIII), a wholly owned subsidiary of TRS that receives undivided, pro rata interests in Card Member receivables transferred to the Charge Trust, by TRS. The Charge Trust is a special purpose entity that is consolidated by TRS. Card Member receivables as of December 31, 2020 and 2019 consisted of: (Millions) 2020 2019 Global Consumer Services Group (a)(b) $ 2,157 $ 9,847 Global Commercial Services (b) 10,000 15,710 Card Member receivables (c) 12,157 25,557 Less: Reserve for credit losses 70 162 Card Member receivables, net (d) $ 12,087 $ 25,395 (a) Comprised of International Consumer Services as of December 31, 2020, and U.S. and International Consumer Services as of December 31, 2019. (b) During the three months ended March 31, 2020, $7.2 billion of U.S. Consumer and Small Business Card Member receivables were transferred out of the Charge Trust resulting in a reduction of the same amount in Credco’s participation interest in such receivables. Refer to Note 1 for additional information. (c) Net of deferred discount revenue totaling $19 million and $75 million as of December 31, 2020, and 2019, respectively. (d) Card Member receivables modified in a troubled debt restructuring (TDR) program were immaterial. Card Member Loans Card Member loans represent revolving amounts due on American Express cards. For American Express lending card products, these Card Member loans are recorded at the time a Card Member enters into a point-of-sale transaction with a merchant, as well as amounts due from charge Card Members who utilize the Pay Over Time features on their account and elect to revolve a portion of the outstanding balance by entering into a revolving payment arrangement with American Express. These loans have a range of terms such as credit limits, interest rates, fees and payment structures, which can be revised over time based on new information about Card Members and in accordance with applicable regulations and the respective product’s terms and conditions. Card Members holding revolving loans are typically required to make monthly payments based on pre-established amounts and the amounts that Card Members choose to revolve are subject to finance charges. Credco records these Card Member loans at the time they are purchased from TRS and certain of its subsidiaries that issue the card (card issuers). Card Member loans are presented on the Consolidated Balance Sheets, net of reserves for credit losses (refer to Note 3), and include principal and any related accrued interest and fees. American Express’ policy generally is to cease accruing interest on a Card Member loan at the time the account is written off, and establish reserves for interest that will not be collected. Card Member loans as of December 31, 2020, and 2019 consisted of: (Millions) 2020 2019 Global Consumer Services Group (a) $ 500 $ 697 Less: Reserve for credit losses 20 10 Card Member loans, net (b) $ 480 $ 687 (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 December 31, 2020, and 2019: 2020 (Millions) Current 30-59 60-89 90+ Days Total Card Member Receivables: Global Consumer Services Group $ 2,139 $ 5 $ 4 $ 9 $ 2,157 Global Commercial Services Global Small Business Services 1,047 3 2 5 1,057 Global Corporate Payments (a) (b) (b) (b) 32 8,943 Card Member Loans: Global Consumer Services Group $ 493 $ 2 $ 1 $ 4 $ 500 2019 (Millions) Current 30-59 60-89 90+ Days Total Card Member Receivables: Global Consumer Services Group $ 9,766 $ 29 $ 16 $ 36 $ 9,847 Global Commercial Services Global Small Business Services 1,996 10 5 9 2,020 Global Corporate Payments (a) (b) (b) (b) 105 13,690 Card Member Loans: Global Consumer Services Group $ 689 $ 3 $ 2 $ 3 $ 697 (a) Global Corporate Payments (GCP) reflects global, large and middle market corporate accounts. 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 years ended December 31: 2020 2019 Net (a) 30+ Days Net (a) 30+ Days Card Member Receivables: Global Consumer Services Group 1.51 % 0.83 % 1.10 % 0.82 % Global Small Business Services 1.84 % 0.95 % 1.39 % 1.19 % Global Corporate Payments 1.25 % (b) (c) (b) Card Member Loans: Global Consumer Services Group 2.81 % 1.40 % 1.53 % 1.15 % (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 receivable or Card Member loan balances in each of the periods indicated. (b) For GCP Card Member receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ Days Past Billing as a % of total is 0.36% and 0.77% for the year ended December 31, 2020, and 2019, respectively. (c) Net loss ratio was the credit quality indicator for GCP Card Member receivables for prior periods, and 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. The net loss ratio for the year ended December 31, 2019 was 0.06%. Refer to Note 3 for additional indicators, including external environmental qualitative factors, American Express considers in its evaluation process for reserves for credit losses.

Reserves for Credit Losses

Reserves for Credit Losses	12 Months Ended
	Dec. 31, 2020
Reserves for Losses [Abstract]
Reserves for Credit Losses	Reserves for Credit Losses American Express has in place an enterprise-wide credit risk management process and manages the overall credit risk exposure associated with the Card Member receivables and Card Member loans, including those purchased by Credco. Reserves for credit losses represent Credco’s best estimate of the expected credit losses in Credco’s outstanding portfolio of Card Member receivables and Card Member loans, as of the balance sheet date. The CECL methodology, which became effective January 1, 2020, requires Credco’s management to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period (R&S Period), which is approximately three years, beyond the balance sheet date. American Express makes various judgments combined with historical loss experience to determine a reserve rate that is applied to the outstanding loan or receivable balance to produce a reserve for expected credit losses. American Express uses a combination of statistically-based models that incorporate current and future economic conditions throughout the R&S Period. The process of estimating expected credit losses is based on several key models: Probability of Default (PD), Exposure at Default (EAD), and future recoveries for each month of the R&S Period. Beyond the R&S Period, American Express estimates expected credit losses by immediately reverting to long-term average loss rates. • PD models are used to estimate the likelihood an account will be written-off. • EAD models are used to estimate the balance of an account at the time of write-off. This includes balances less expected repayments based on historical payment and revolve behavior, which vary by customer. Due to the nature of revolving loan portfolios, the EAD models are complex and involve assumptions regarding the relationship between future spend and payment behaviors. • Recovery models are used to estimate amounts that are expected to be received from Card Members after default occurs, typically as a result of collection efforts. Future recoveries are estimated taking into consideration the time of default, time elapsed since default and macroeconomic conditions. American Express also estimates the likelihood and magnitude of recovery of previously written off accounts considering how long ago the account was written off and future economic conditions. American Express models are developed using historical loss experience covering the economic cycle and consider the impact of account characteristics on expected losses. Future economic conditions that are incorporated over the R&S Period include multiple macroeconomic scenarios provided to American Express by an independent third party. American Express reviews these economic scenarios and applies judgment to weight them in order to reflect the uncertainty surrounding these scenarios. These macroeconomic scenarios contain certain variables, including unemployment rates and real Gross Domestic Product (GDP), that are significant to American Express’ models. American Express also evaluates whether to include qualitative reserves to cover losses that are expected but, in its assessment, may not be adequately represented in the quantitative methods or the economic assumptions. American Express considers whether to adjust the quantitative reserves (higher or lower) to address possible limitations within the models or factors not included within the models, such as external conditions, emerging portfolio trends, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due accounts, or American Express’ risk actions. Lifetime losses for most of Card Member receivables and Card Member loans are evaluated at an appropriate level of granularity, including assessment on a pooled basis where financial assets share similar risk characteristics, such as past spend and remittance behaviors, credit bureau scores where available, delinquency status, tenure of balance outstanding, amongst others. Credit losses on accrued interest are measured and presented as part of Reserves for credit losses on the Consolidated Balance Sheets and within the Provisions for credit losses in the Consolidated Statements of Income, rather than reversing interest income. Card Member receivable and Card Member loan balances are written off when American Express considers amounts to be uncollectible, which is generally determined by the number of days past due and is typically no later than 180 days past due for pay in full or revolving loans. Card Member receivables and Card Member loans in bankruptcy or owed by deceased individuals are generally written off upon notification. Results for reporting periods beginning on or after January 1, 2020 are presented using the CECL methodology while comparative information continues to be reported in accordance with the incurred loss methodology in effect for prior years. Reserves for credit losses under the incurred loss methodology were primarily based upon statistical and analytical models that analyzed portfolio performance and reflected American Express’ judgments regarding the quantitative components of the reserve. The models considered several factors, including delinquency-based loss migration rates, loss emergence periods and average losses and recoveries over an appropriate historical period. Similar to the CECL methodology, American Express considered whether to adjust the quantitative reserves for certain external and internal qualitative factors, which may increase or decrease the reserves for credit losses. Changes in Card Member Receivables Reserve for Credit Losses Card Member receivables reserve for credit losses increased for the year ended December 31, 2020, primarily driven by deterioration of the global macroeconomic outlook, including unemployment and GDP, partially offset by a decline in outstanding balances. The following table presents changes in the Card Member receivables reserve for credit losses for the years ended December 31: (Millions) 2020 2019 2018 Balance, January 1 (a) $ 15 $ 167 $ 145 Provisions (b) 224 216 243 Net write-offs (c) (177) (229) (238) Other adjustments (d) 8 8 17 Balance, December 31 $ 70 $ 162 $ 167 (a) For the year ended December 31, 2020, beginning balance includes a decrease of $147 million as of January 1, 2020, related to the adoption of the CECL methodology. (b) Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (c) Net of recoveries of $82 million, $125 million, and $119 million for the years ended December 31, 2020, 2019 and 2018, respectively. (d) For the year ended December 31, 2020, primarily includes reserve adjustments related to the removal of U.S. Consumer and Small Business Card Member receivables of $7.2 billion from the Charge Trust. For the years ended December 31, 2019 and 2018, primarily includes reserve balances related to new groups of, and participation interests in, Card Member receivables purchased from affiliates, totaling $2.7 billion and $9.8 billion, respectively, and participation interests in Card Member receivables sold to an affiliate totaling $1.1 billion and $6.2 billion, respectively. For all the years presented, also includes foreign currency translation adjustments. Changes in Card Member Loans Reserve for Credit Losses Card Member loans reserve for credit losses increased for the year ended December 31, 2020, primarily driven by deterioration of the global macroeconomic outlook, including unemployment and GDP, partially offset by a decline in outstanding balances. The following table presents changes in the Card Member loans reserve for credit losses for the years ended December 31: (Millions) 2020 2019 2018 Balance, January 1 (a) $ 17 $ 5 $ 5 Provisions (b) 18 14 6 Net write-offs (c) (15) (9) (6) Balance, December 31 $ 20 $ 10 $ 5 (a) For the year ended December 31, 2020, beginning balance includes an increase of $7 million as of January 1, 2020, related to the adoption of the CECL methodology. (b) Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (c) Net of recoveries of $2.0 million, $1.6 million, and $1.8 million for the year ended December 31, 2020, 2019 and 2018, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt Short-Term Debt Credco’s short-term debt outstanding (excluding short-term debt to affiliates), defined as borrowings with original contractual maturity dates of less than one year, as of December 31 was as follows: 2020 2019 (Millions, except percentages) Outstanding Year-End Stated Interest Rate on Debt (a) Outstanding Year-End Stated Interest Rate on Debt (a) Commercial paper (b) $ — — % $ 3,001 1.94 % Other short-term borrowings (c) — — 215 1.58 Total $ — — % $ 3,216 1.91 % (a) For floating-rate issuances, the stated interest rates are weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2019. (b) Average commercial paper outstanding was $628 million and $299 million in 2020 and 2019, respectively. (c) Represents interest-bearing book overdrafts with banks . Long-Term Debt Credco’s long-term debt outstanding (excluding long-term debt to affiliates), defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as follows: 2020 2019 Outstanding Balance (a) Year-End Interest Rate on Debt (b) Year-End Interest Rate with Swaps (b)(c) Outstanding Balance (a) Year-End Interest Rate on Debt (b) Year-End Interest Rate with Swaps (b)(c) (Millions, except Fixed Rate Senior Notes 2021-2027 $ 6,746 2.38 % 1.67 % $ 11,839 2.40 % 2.53 % Floating Rate Senior Notes 2021-2022 300 0.93 — 1,650 2.64 — Unamortized Underwriting Fees (9) (20) Total Long-Term Debt $ 7,037 2.32 % $ 13,469 2.43 % (a) The outstanding balances include (i) unamortized discount, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. Refer to Note 6 for more details on Credco’s treatment of fair value hedges. (b) For floating-rate issuances, the stated interest rate on debt is weighted based on outstanding principal balances and interest rates in effect as of December 31, 2020, and 2019. (c) Interest rates with swaps are only presented when swaps are in place to hedge the underlying debt. The interest rates with swaps are weighted based on the outstanding principal balances and the interest rates on the floating leg of the swaps in effect as of December 31, 2020, and 2019. Aggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31, 2020 were as follows: (Millions) 2021 $ 2,975 2022 2,050 2023 — 2024 — 2025 — Thereafter 2,000 Total 7,025 Unamortized Underwriting Fees (9) Unamortized Discount (19) Impacts due to Fair Value Hedge Accounting 40 Total Long-Term Debt $ 7,037 Credco maintained a committed syndicated bank credit facility of $3.5 billion as of December 31, 2020, and 2019, all of which was undrawn as of the respective dates. Credco paid $2.5 million and $4.9 million in fees to maintain these lines for the years ended December 31, 2020, and 2019, respectively. The availability of this facility is subject to Credco’s compliance with certain covenants that require maintenance of a 1.25 minimum FCCR. FCCR is the ratio of earnings available for fixed charges (interest expenses including interest expense to affiliates) to fixed charges for the applicable period . During the fourth quarter of 2020, Credco and its bank lenders agreed to amend the credit agreement to revise the definition of FCCR to include certain capital contributions to additional paid-in capital from TRS. As of December 31, 2020, and onwards, earnings available for fixed charges are defined as net income before fixed charges and income tax provision plus certain capital contributions, if any, made by TRS to Credco. The FCCR for Credco was 2.17 for the year ended December 31, 2020. As of December 31, 2020, and 2019, Credco was not in violation of any of these covenants. For the quarter ended December 31, 2020, Credco did not require any capital contributions from TRS for the maintenance of its minimum FCCR. The committed facility does not contain material adverse change clauses that would preclude borrowing under the credit facility. Additionally, the facility may not be terminated should there be a change in Credco’s credit ratings. Credco paid total interest, primarily related to short- and long-term debt, and corresponding interest rate swaps of $0.2 billion, $0.5 billion, and $0.6 billion for the years ended December 31, 2020, 2019 and 2018, respectively.

Restrictions as to Dividends an

Restrictions as to Dividends and Limitations on Indebtedness	12 Months Ended
	Dec. 31, 2020
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract]
Restrictions as to Dividends and Limitations on Indebtedness	Restrictions as to Dividends and Limitations on IndebtednessThe debt instruments issued by Credco impose the requirement that Credco maintain a minimum consolidated net worth of $50 million, which limits the amount of dividends Credco can pay to its parent. There are no limitations on the amount of debt that can be issued by Credco, provided it maintains the minimum FCCR of 1.25.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging ActivitiesCredco 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 market risk management. Credco does not transact in derivatives for trading purposes. Market risk is the risk to earnings or asset and liability values resulting from movements in market prices. Credco’s market risk exposures include: • Interest rate risk in its funding activities; and • Foreign exchange risk arising from earnings, funding, transactions and investments in currencies other than the U.S. dollar. American Express centrally monitors market risks using market risk limits and escalation triggers as defined in its Asset/Liability Management Policy. Interest rate risk primarily arises through the funding of Card Member receivables and fixed-rate loans with variable-rate borrowings, as well as through the risk to net interest margin from changes in the relationship between benchmark rates such as Prime, London interbank offered rate (LIBOR) and the overnight indexed swap rate. Interest rate exposure within charge card and fixed-rate lending products is managed by varying the proportion of total funding provided by short-term and variable-rate debt compared to fixed-rate debt. In addition, interest rate swaps are used from time to time to economically convert fixed-rate debt obligations to variable-rate obligations or to convert variable-rate debt obligations to fixed-rate obligations. Credco may change the mix between variable-rate and fixed-rate funding based on changes in business volumes and mix, among other factors. Foreign exchange risk is generated by funding foreign currency Card Member receivables and loans with U.S. dollars, foreign currency balance sheet exposures, foreign subsidiary equity and foreign currency earnings in entities outside the United States. Credco’s foreign exchange risk is managed primarily by entering into agreements to buy and sell currencies on a spot basis or by hedging this market exposure to the extent it is economical, through various means, including the use of derivatives such as foreign exchange forwards. Exposures from foreign subsidiary equity in Credco’s entities outside the United States are hedged through the use of foreign exchange forwards executed either by Credco or TRS. Derivatives may give rise to counterparty credit risk, which is the risk that a derivative counterparty will default on, or otherwise be unable to perform pursuant to an uncollateralized derivative exposure. This risk is managed by considering the current exposure, which is the replacement cost of contracts on the measurement date, as well as estimating the maximum potential future exposure of the contracts over the next 12 months, considering such factors as the volatility of the underlying or reference index. To mitigate derivative credit risk, counterparties are required to be pre-approved by American Express and rated as investment grade, and counterparty risk exposures are centrally monitored. A majority of Credco’s derivative assets and liabilities as of December 31, 2020, and 2019 are subject to master netting agreements with its derivative counterparties. Accordingly, where appropriate, Credco has elected to present derivative assets and liabilities with the same counterparty on a net basis in the Consolidated Balance Sheets. To further mitigate counterparty credit risk, Credco’s interest rate swaps are cleared through a central clearinghouse and are collateralized to the full amount of the fair value of the contracts. In relation to Credco’s credit risk, certain of Credco’s bilateral derivative agreements include provisions that allow Credco’s counterparties to terminate the agreement in the event of a downgrade of Credco’s debt credit rating below investment grade and settle the outstanding net liability position. As of December 31, 2020, these derivatives were not in a material net liability position and Credco had no material risk exposure to any individual derivative counterparty . Based on Credco’s assessment of the credit risk of its derivative counterparties and its own credit risk as of December 31, 2020, and 2019, no credit risk adjustment to the derivative portfolio was required. Credco’s derivatives are carried at fair value on the Consolidated Balance Sheets. The accounting for changes in fair value depends on the instruments’ intended use and the resulting hedge designation, if any, as discussed below. Refer to Note 7 for a description of Credco’s methodology for determining the fair value of derivatives. The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of December 31: Other Assets Other Liabilities (Millions) 2020 2019 2020 2019 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a)(b) $ — $ — $ — $ — Net investment hedges - Foreign exchange contracts 1 12 195 44 Total derivatives designated as hedging instruments 1 12 195 44 Derivatives not designated as hedging instruments: Foreign exchange contracts 48 31 89 182 Total derivatives, gross 49 43 284 226 Derivative asset and derivative liability netting (c) (15) (27) (15) (27) Total derivatives, net $ 34 $ 16 $ 269 $ 199 (a) For Credco’s centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. (b) Credco posted $12 million and $20 million as of December 31, 2020, and 2019, 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. (c) Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparties under an enforceable master netting arrangement. Derivative Financial Instruments that Qualify for Hedge Accounting Derivatives executed for hedge accounting purposes are documented and designated as such when Credco enters into the contracts. In accordance with its risk management policies, Credco structures its hedges with terms similar to those of the item being hedged. Credco formally assesses, at inception of the hedge accounting relationship and on a quarterly basis, whether derivatives designated as hedges are highly effective in offsetting the fair value or cash flows of the hedged items. These assessments usually are made through the application of a regression analysis method. If it is determined that a derivative is not highly effective as a hedge, Credco will discontinue the application of hedge accounting. Fair Value Hedges A fair value hedge involves a derivative designated to hedge Credco’s exposure to future changes in the fair value of an asset or a liability, or an identified portion thereof that is attributable to a particular risk. Interest Rate Contracts 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 $3.5 billion and $8.8 billion of its fixed-rate debt obligations designated in fair value hedging relationships as of December 31, 2020, and 2019, respectively. Gains or losses on the fair value hedging instrument principally offset the losses or gains on the hedged item attributable to the hedged risk. The changes in the fair value of the derivative and the changes in the hedged item may not fully offset due to differences between a debt obligation’s interest rate and the benchmark rate, primarily due to credit spreads at inception of the hedging relationship that are not reflected in the fair value of the interest rate swap. Furthermore, the difference may be caused by changes in 1-month LIBOR, 3-month LIBOR and the overnight indexed swap rate, as spreads between these rates impact the fair value of the interest rate swap without an exact offsetting impact to the fair value of the hedged debt. 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 fixed-rate long-term debt for the years ended December 31: Gains (losses) (Millions) 2020 2019 2018 Fixed-rate long-term debt $ (42) $ (181) $ 29 Derivatives designated as hedging instruments 45 184 (13) Total $ 3 $ 3 $ 16 The carrying values of the hedged liabilities, recorded within Long-term debt on the Consolidated Balance Sheets, were $3.5 billion and $8.7 billion as of December 31, 2020, and 2019, respectively, including the cumulative amount of fair value hedging adjustments of $40 million and $(2) million for the respective periods. Credco recognized a net decrease of $39 million for the year ended December 31, 2020, and net increases of $90 million and $75 million in Interest expense on Long-term debt for the years ended December 31, 2019 and 2018, respectively, primarily related to the net settlements including interest accruals on Credco’s interest rate derivatives designated as fair value hedges. Net Investment Hedges A net investment hedge is used to hedge future changes in currency exposure of a net investment in a foreign operation. Credco primarily designates foreign currency derivatives, typically foreign exchange forwards, and on occasion foreign currency denominated debt, as hedges of net investments in certain foreign operations. These instruments reduce exposure to changes in currency exchange rates on Credco’s investments in non-U.S. subsidiaries. Credco had notional amounts of approximately $2.9 billion and $3.0 billion of foreign currency derivatives designated as net investment hedges as of December 31, 2020, and 2019, respectively. The gain or loss on net investment hedges, net of taxes, recorded in AOCI as part of the cumulative translation adjustment were losses of $131 million and $44 million for the years ended December 31, 2020, and 2019, respectively, and a gain of $127 million for the year ended December 31, 2018. Derivatives Not Designated as Hedges Credco has derivatives that act as economic hedges, but are not designated as such for hedge accounting purposes. Foreign currency transactions from time to time may be partially or fully economically hedged through foreign currency contracts, primarily foreign exchange forwards. These hedges generally mature within one year. Foreign currency contracts involve the purchase and sale of designated currencies at an agreed-upon rate for settlement on a specified date. 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 a net gains of $15 million, $87 million and $59 million for the years ended December 31, 2020, 2019 and 2018, respectively, which are recognized in Other, net expenses in the Consolidated Statements of Income.

Fair Values

Fair Values	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Values	Fair Values Fair value is defined as the price that would be required to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the principal or, in the absence of a principal, most advantageous market for the specific asset or liability. GAAP provides for a three-level hierarchy of inputs to valuation techniques used to measure fair value, defined as follows: • Level 1 – Inputs that are quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity can access. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including: – Quoted prices for similar assets or liabilities in active markets; – Quoted prices for identical or similar assets or liabilities in markets that are not active; – Inputs other than quoted prices that are observable for the asset or liability; and – Inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3 – Inputs that are unobservable and reflect Credco’s own estimates about the estimates market participants would use in pricing the asset or liability based on the best information available in the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows). Credco did not measure any financial instruments presented on the Consolidated Balance Sheets at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2020, and 2019, although the disclosed fair value of certain assets that are not carried at fair value, as presented later in this Note, are classified within Level 3. Credco monitors the market conditions and evaluates the fair value hierarchy levels at least quarterly. For the years ended December 31, 2020, and 2019, there were no Level 3 transfers. 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 described in the preceding paragraphs), as of December 31: (Millions) 2020 2019 Assets: Derivatives, gross (a) $ 49 $ 43 Total assets 49 43 Liabilities: Derivatives, gross (a) 284 226 Total liabilities $ 284 $ 226 (a) Refer to Note 6 for the fair values of derivative assets and liabilities, on a further disaggregated basis. Valuation Techniques Used in the Fair Value Measurement of Financial Assets and Financial Liabilities Carried at Fair Value For the financial assets and liabilities measured at fair value on a recurring basis (categorized in the valuation hierarchy table), Credco applies the following valuation techniques: Derivative Financial Instruments The fair value of Credco’s derivative financial instruments is estimated internally by using third-party pricing models, where the inputs to those models are readily observable from active markets. The pricing models used are consistently applied and reflect the contractual terms of the derivatives as described below. Credco reaffirms its understanding of the valuation techniques at least annually and validates the valuation output on a quarterly basis. Credco’s derivative instruments are classified within Level 2 of the fair value hierarchy. The fair value of Credco’s interest rate swaps is determined based on a discounted cash flow method using the following significant inputs: the contractual terms of the swap such as the notional amount, fixed coupon rate, floating coupon rate and tenor, as well as discount rates consistent with the underlying economic factors of the currency in which the cash flows are denominated. The fair value of foreign exchange forward contracts is determined based on a discounted cash flow method using the following significant inputs: the contractual terms of the forward contracts such as the notional amount, maturity dates and contract rate, as well as relevant foreign currency forward curves, and discount rates consistent with the underlying economic factors of the currency in which the cash flows are denominated. Credit valuation adjustments are necessary when the market parameters, such as a benchmark curve, used to value derivatives are not indicative of Credco’s credit quality or that of its counterparties. Credco considers the counterparty credit risk by applying an observable forecasted default rate to the current exposure. Refer to Note 6 for additional fair value information. Financial Assets and Financial Liabilities Carried at Other Than Fair Value The following table summarizes the estimated fair values of 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 December 31, 2020, and 2019. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of December 31, 2020 and 2019 and require Credco’s judgment. These figures may not be indicative of future fair values, nor can the fair value of Credco be estimated by aggregating the amounts presented. Carrying Corresponding Fair Value Amount 2020 (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) $ 0.6 $ 0.6 $ 0.6 $ — $ — Other financial assets (b) 12.1 12.1 — 12.1 — Financial assets carried at other than fair value Card Member loans, less reserves for credit losses 0.5 0.5 — — 0.5 Loans to affiliates and other 10.9 11.1 — 5.0 6.1 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 12.6 12.6 — 12.6 — Financial liabilities carried at other than fair value Long-term debt 7.0 7.4 — 7.4 — Long-term debt to affiliates $ 0.8 $ 0.8 $ — $ 0.8 $ — Carrying Corresponding Fair Value Amount 2019 (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) $ 0.1 $ 0.1 $ 0.1 $ — $ — Other financial assets (b) 26.2 26.2 — 26.2 — Financial assets carried at other than fair value Card Member loans, less reserves for credit losses 0.7 0.7 — — 0.7 Loans to affiliates and other 10.3 10.4 — 2.8 7.6 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 11.2 11.2 — 11.2 — Financial liabilities carried at other than fair value Long-term debt 13.5 13.7 — 13.7 — Long-term debt to affiliates $ 9.3 $ 9.4 $ — $ 9.4 $ — (a) Amounts reflect interest-bearing deposits and interest-bearing restricted cash. Refer to Note 1 for additional information. (b) Level 2 amounts primarily reflect Card Member receivables. Valuation Techniques Used in the Fair Value Measurement of Financial Assets and Financial Liabilities Carried at Other Than Fair Value For the financial assets and liabilities that are not required to be carried at fair value on a recurring basis (categorized in the valuation hierarchy table), Credco applies the following valuation techniques to measure fair value: Financial Assets For Which Carrying Values Equal Or Approximate Fair Value Financial assets for which carrying values equal or approximate fair value include Cash and cash equivalents, Card Member receivables, due from affiliates, accrued interest and certain other assets. For these assets, the carrying values approximate fair value because they are short term in duration, have no defined maturity or have a market-based interest rate. Financial Assets Carried At Other Than Fair Value Card Member loans, less reserves for credit losses Card Member loans are recorded at historical cost, less reserves for credit losses, on the Consolidated Balance Sheets. In estimating the fair value for Credco’s Card Member loans, Credco uses a discounted cash flow model. Due to the lack of a comparable whole loan sales market for similar loans and the lack of observable pricing inputs thereof, Credco uses various inputs to estimate fair value. Such inputs include projected income, discount rates and forecasted write-offs. The valuation does not include economic value attributable to future receivables generated by the accounts associated with the loans. Loans to affiliates and other Loans to affiliates and other are recorded at historical cost on the Consolidated Balance Sheets. In estimating the fair value for Credco’s loans to affiliates and other, Credco uses discounted cash flow models. For loans to affiliates collateralized by Card Member loans, Credco derives the value of the loans based on the fair value of the underlying collateral used to finance the loans using a discounted cash flow model with inputs as detailed above (Card Member loans), and as such is classified as Level 3. For the remaining loans to affiliates and other, the models use market observable interest rates and adjust those rates for necessary risks. Financial Liabilities For Which Carrying Values Equal Or Approximate Fair Value Financial liabilities for which carrying values equal or approximate fair value include short-term debt, short-term debt to affiliates, due to affiliates, accrued interest and certain other liabilities for which the carrying values approximate fair value because they are short term in duration, have no defined maturity or have a market-based interest rate. Financial Liabilities Carried At Other Than Fair Value Long-term debt Long-term debt, including with affiliates, is recorded at historical issuance cost on the Consolidated Balance Sheets adjusted for (i) unamortized discount and unamortized fees, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. The fair value of Credco’s long-term debt is measured using quoted offer prices when quoted market prices are available. If quoted market prices are not available, the fair value is determined by discounting the future cash flows of each instrument at rates currently observed in publicly-traded debt markets for debt of similar terms and credit risk. For long-term debt, where there are no rates currently observable in publicly-traded debt markets of similar terms and comparable credit risk, Credco uses market interest rates and adjusts those rates for necessary risks, including Credco’s own credit risk. In determining an appropriate spread to reflect Credco’s credit standing, Credco considers credit default swap spreads, bond yields of other long-term debt offered by Credco, and interest rates currently offered to Credco for similar debt instruments of comparable maturities. Nonrecurring Fair Value Measurements During the years ended December 31, 2020, and 2019, Credco did not have any assets that were measured at fair value due to impairment on a nonrecurring basis.

Transactions with Affiliates

Transactions with Affiliates	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Transactions with Affiliates	Transactions with Affiliates As described below, Credco executes material transactions with its affiliates. The agreements between Credco and its affiliates provide that the parties intend that the transactions thereunder be conducted on an arm’s-length basis and the price at which receivables are sold to Credco be at fair value. In 2020, 2019 and 2018, Credco purchased Card Member receivables and loans without recourse from TRS and certain of its subsidiaries totaling approximately $165 billion, $316 billion, and $299 billion, respectively. In 2020, 2019 and 2018, Credco sold Card Member receivables and participating interests to affiliates totaling $12.7 billion, $1.1 billion, and $6.2 billion, respectively. The discount revenue on purchased Card Member receivables and loans totaled $0.6 billion, $1.2 billion, and $1.0 billion for the years ended December 31, 2020, 2019 and 2018, respectively. The receivables agreements require TRS and its subsidiaries to perform servicing, clerical and other services necessary to bill and collect all Card Member receivables and loans owned by Credco. Since settlements under the agreements occur monthly, an amount due from, or payable to, such affiliates may arise at the end of each month. As of December 31, 2020, and 2019, CRC owned approximately $4.2 billion and $8.1 billion, respectively, of participation interests purchased from RFC VIII. Transactions with affiliates as of or for the years ended December 31, were as follows: (Millions, except percentages) 2020 2019 2018 Loans to affiliates and other $ 10,890 $ 10,345 $ 14,136 Average interest rate on loans to affiliates and other 1.52 % 2.89 % 2.79 % Due from affiliates $ 6 $ 652 $ 210 Restricted cash with affiliates 120 116 93 Short-term debt to affiliates 8,569 6,225 5,899 Average interest rate on short-term debt to affiliates 0.62 % 2.33 % 2.09 % Maximum month-end level of short-term debt during the year $ 8,622 $ 7,087 $ 14,216 Long-term debt to affiliates 822 9,292 7,523 Average interest rate on long-term debt to affiliates 1.65 % 3.17 % 2.69 % Maximum month-end level of long-term debt during the year $ 3,276 $ 13,391 $ 8,725 Due to affiliates 4,344 2,133 2,869 Maximum month-end level of loans to affiliates during the year 13,959 14,264 14,136 Interest income from affiliates and other 166 332 383 Interest expense to affiliates 75 433 225 Other, net expense 2 2 2 Interest paid on short-term and long-term debt $ 112 $ 421 $ 198 Credco’s loans to affiliates and other represent interest-bearing borrowings by wholly owned subsidiaries of TRS and the joint ventures that issue American Express cards in certain countries. Revenue earned from loans to affiliates and other is recorded as interest income from affiliates and other in the Consolidated Statements of Income. As of December 31, 2020, and 2019, no amount of loss reserves has been recorded and no loans are 30 days or more past due. The components of loans to affiliates and other as of December 31 were as follows: (Millions) 2020 2019 American Express Services Europe Limited $ 2,881 $ 4,206 American Express Company 2,772 — American Express Australia Limited 1,745 2,052 Amex Global Holdings C.V. 1,430 888 Amex Bank of Canada 857 1,587 American Express Company (Mexico) S.A. de C.V. 540 534 American Express International, Inc., Singapore Branch 303 413 American Express Bank (Mexico) S.A. 257 404 American Express International (NZ), Inc. 56 70 Alpha Card S.C.R.L./C.V.B.A. 25 120 American Express Saudi Arabia (C) JSC 24 71 Total (a) $ 10,890 $ 10,345 (a) As of December 31, 2020, and 2019, approximately $6.4 billion and $8.2 billion, respectively, were collateralized by the underlying Card Member receivables and loans transferred with recourse. Due from/to affiliates relate primarily to timing differences from the purchase of Card Member receivables, net of remittances from TRS and its subsidiaries, as well as from operating activities. As of December 31, 2020, due to affiliates also includes an amount pertaining to tax liability on account of the Tax Cuts and Jobs Act enacted on December 22, 2017 (Tax Act). Refer to Note 10 to the “Consolidated Financial Statements” for additional information. In the month of June 2020, Credco restructured a number of its intercompany loan arrangements to further enhance funding flexibility and effectiveness. Credco borrowed $7.1 billion from TRS to repay borrowings from AE Exposure Management Limited of $4.7 billion. The excess of $2.2 billion was deposited with AENB, which was reported as part of Cash and cash equivalents as of June 30, 2020. During the second half of the year, amounts were withdrawn from AENB to meet business funding requirements resulting in $0.5 billion in deposits remaining with AENB as of December 31, 2020. As of December 31, 2020, and 2019, the amount of interest-bearing restricted cash was $120 million and $116 million, respectively, which 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. It is included under “Cash and cash equivalents” on the Consolidated Balance Sheets. Short-term debt to affiliates consists primarily of interest-bearing master notes payable on demand. Credco does not expect any changes to its short-term funding strategies with affiliates. Components of short-term debt to affiliates as of December 31 were as follows: (Millions) 2020 2019 American Express Travel Related Services Company, Inc. (a) $ 7,073 $ — AE Exposure Management Limited (a) 1,193 5,731 American Express Holdings Netherlands CV 192 192 Accertify Inc. 107 82 American Express Swiss Holdings GmbH 4 1 American Express Europe LLC — 219 Total $ 8,569 $ 6,225 (a) Refer to Note 1 to the “Consolidated Financial Statements” for additional information. Long-term debt to affiliates consists primarily of master note agreements with original contractual maturity dates of one year or greater and are not payable on demand. Components of long-term debt to affiliates as of December 31 were as follows: 2020 2019 Year-End Stated Year-End Stated (Millions, except percentages) American Express Company (a) $ 454 0.91 % $ 8,959 2.85 % Amex Funding Management (Europe) Limited (b) 368 0.28 333 0.28 Total $ 822 0.63 % $ 9,292 2.76 % (a) Amounts payable by November 2023. Refer to Note 1 to the “Consolidated Financial Statements” for additional information. (b) Amounts payable by September 2021. Service Fees to Affiliates Credco’s affiliates do not explicitly charge Credco a servicing fee for the servicing of receivables purchased. Instead Credco receives a lower discount rate on the receivables purchased than would be the case if servicing fees were charged. If a servicing fee had been charged by these affiliates from which Credco purchases receivables, fees to affiliates for servicing receivables would have been approximately $250 million, $328 million, and $305 million for the years ended December 31, 2020, 2019 and 2018, respectively. Correspondingly, discount revenue would have increased by approximately the same amounts in these periods.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Changes in Accumulated Other Comprehensive Loss	Changes in Accumulated Other Comprehensive Loss AOCI is a balance sheet item in the Shareholder’s Equity section on Credco’s Consolidated Balance Sheets. It 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 years ended December 31 were as follows: (Millions), net of tax Foreign Balance as of December 31, 2017 $ (998) Net translation on investments in foreign operations (189) Net hedges of investments in foreign operations 127 Net change in accumulated other comprehensive loss (62) Balances as of December 31, 2018 (1,060) Net translation on investments in foreign operations 17 Net hedges of investments in foreign operations (44) Net change in accumulated other comprehensive loss (27) Balances as of December 31, 2019 (1,087) Net translation on investments in foreign operations 119 Net hedges of investments in foreign operations (131) Net change in accumulated other comprehensive loss (12) Balances as of December 31, 2020 $ (1,099) The following table shows the tax impact for the three years ended December 31 for the changes in Foreign Currency Translation Adjustments presented above: Tax expense (benefit) (Millions) 2020 2019 2018 Net translation on investments in foreign operations $ 21 $ 5 $ (23) Net hedges of investments in foreign operations (41) (14) 40 Total tax impact $ (20) $ (9) $ 17 No amounts were reclassified out of AOCI into the Consolidated Statements of Income associated with the sale or liquidation of a business, net of taxes for the years ended December 31, 2020, 2019 and 2018.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	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 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 components of income tax expense for the years ended December 31 included in Credco’s Consolidated Statements of Income were as follows: (Millions) 2020 2019 2018 Current income tax expense (benefit): U.S. federal $ 69 $ 45 $ (14) U.S. state and local 13 13 (6) Non-U.S. 182 23 84 Total current income tax expense 264 81 64 Deferred income tax expense (benefit): U.S. federal (135) 11 (28) U.S. state and local (4) — 1 Non-U.S. (4) 2 (8) Total deferred income tax expense (benefit) (143) 13 (35) Total income tax expense $ 121 $ 94 $ 29 A reconciliation of the U.S. federal statutory rate of 21 percent as of December 31, 2020, 2019 and 2018, to Credco’s actual income tax rate on continuing operations was as follows: 2020 2019 2018 U.S. statutory federal income tax rate 21.0 % 21.0 % 21.0 % Increase (decrease) in taxes resulting from: State and local income taxes, net of federal benefit 2.5 0.8 (0.4) Non-U.S. subsidiaries earnings (a) 14.9 (3.7) (8.7) Tax settlements (b) (0.9) — — U.S. Tax Act — — (5.6) Other (c) 0.1 0.3 0.7 Actual tax rate 37.6 % 18.4 % 7.0 % (a) 2020 included discrete tax charges related to the attribution and taxation of income to jurisdictions outside the U.S. (b) Related to the resolution of tax matters in various jurisdictions. (c) Results for all years include the impact of prior year tax returns filed in the current year. Credco records a deferred income tax (benefit) provision when there are differences between assets and liabilities measured for financial reporting and for income tax return purposes. These temporary differences result in taxable or deductible amounts in future years and are measured using the tax rates and laws that will be in effect when such differences are expected to reverse. The significant components of deferred tax assets and liabilities as of December 31 are reflected in the following table: (Millions) 2020 2019 Deferred tax assets: Reserves not yet deducted for tax purposes $ 26 $ 29 State income taxes 10 9 Foreign exchange loss 41 32 Deferred tax attributes (a) 110 15 Other 11 10 Gross deferred tax assets 198 95 Deferred tax liabilities: Investment in foreign subsidiaries (b) 83 74 Gross deferred tax liabilities 83 74 Net deferred tax assets $ 115 $ 21 (a) Deferred foreign tax credits and other related adjustments. (b) Deferred state income and foreign withholding tax consequences of future cash distributions from non-U.S. subsidiaries . Credco is subject to the income tax laws of the United States, its states and municipalities and those of the foreign jurisdictions in which Credco operates. These tax laws are complex, and the manner in which they apply to the taxpayer’s facts is sometimes open to interpretation. Given these inherent complexities, Credco must make judgments in assessing the likelihood that a tax position will be sustained upon examination by the taxing authorities based on the technical merits of the tax position. A tax position is recognized only when, based on Credco’s management judgment regarding the application of income tax laws, it is more likely than not that the tax position will be sustained upon examination. The amount of benefit recognized for financial reporting purposes is based on Credco’s management best judgment of the largest amount of benefit that is more likely than not to be realized on ultimate settlement with the taxing authority given the facts, circumstances and information available at the reporting date. Credco adjusts the level of unrecognized tax benefits when there is new information available to assess the likelihood of the outcome. 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. Credco is currently under examination by the IRS for the 2017 and 2018 tax years. The following table presents changes in unrecognized tax benefits: (Millions) 2020 2019 2018 Balance, January 1 $ 60 $ 53 $ 24 Increases: Current year tax positions 4 5 4 Tax positions related to prior years 37 4 26 Effects of foreign currency translation 1 — — Decreases: Settlements with tax authorities (3) — — Lapse of statute of limitations (1) (2) (1) Balance, December 31 $ 98 $ 60 $ 53 Included in the unrecognized tax benefits of $98 million, $60 million and $53 million for December 31, 2020, 2019 and 2018, respectively, are approximately $15 million, $38 million and $32 million, respectively, that if recognized, would favorably affect the effective tax rate in a future period. Credco believes it is reasonably possible that its unrecognized tax benefits could decrease within the next 12 months by as much as $3 million 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 deductibility of certain expenses or losses and the attribution of taxable income to a particular jurisdiction or jurisdictions. Of the $3 million of unrecognized tax benefits, approximately $2 million relates to amounts that, if recognized, would impact the effective tax rate in a future period. Interest and penalties relating to unrecognized tax benefits are reported in the income tax provision. For the year ended December 31, 2020, 2019 and 2018 Credco recognized a tax charge of $130 million, $3 million, and $20 million, respectively, for interest and penalties. Credco had approximately $170 million and $29 million accrued for the payment of interest and penalties as of December 31, 2020 and 2019, respectively. Current taxes due to American Express or affiliates as of December 31, 2020 and 2019 were $380 million and $431 million, respectively. The amount due to American Express for 2020 includes a $441 million payable related to the one time transition tax on the repatriated earnings and profits of certain foreign subsidiaries under the Tax Act. Payments due by year (Millions) 2021 2022 - 2023 2024 – 2025 2026 and thereafter Total Deemed repatriation tax $ — $ 6 $ 254 $ 181 $ 441

Significant Credit Concentratio

Significant Credit Concentrations	12 Months Ended
	Dec. 31, 2020
Concentration Risk Disclosure [Abstract]
Significant Credit Concentrations	Significant Credit Concentrations Concentrations of credit risk exist when changes in economic, industry or geographic factors similarly affect groups of counterparties whose aggregate credit exposure is material in relation to Credco’s total credit exposure. Credco’s primary credit exposure, Card Member receivables, Card Member loans and loans to affiliates and other, is diversified among its affiliated companies with Card Members that operate in diverse industries, economic sectors and geographic regions. The following table details Credco’s maximum credit exposure of the on-balance sheet assets by category, as of December 31: (Billions) 2020 2019 On-balance sheet: Loans to affiliates and other $ 11 $ 10 Institutions (a) 9 13 Individuals (b) 3 12 Financial Services (c) 1 1 Due from affiliates — 1 Total on-balance sheet $ 24 $ 37 (a) Primarily reflects Card Member receivables from other corporate institutions, which are governed by institutional credit risk management. (b) Primarily reflects Card Member receivables and loans, which are governed by individual credit risk management. (c) Represents banks, broker-dealers, insurance companies and savings and loan associations. As of December 31, 2020, and 2019, Credco’s most significant concentration of credit risk was with Loans to affiliates and Corporate institutions, including Card Member receivables. Credco purchased Card Member receivables and loans from TRS and certain of its subsidiaries. TRS and its subsidiaries generally advance these amounts on an unsecured basis. However, they review each potential customer’s credit application and evaluates the applicant’s financial history and ability and willingness to repay. TRS and its subsidiaries also consider credit performance by customer tenure, industry and geographic location in managing credit exposure. The following table details Credco’s Card Member receivables and loans exposure in the United States and outside the United States as of December 31: (Billions) 2020 2019 United States $ 8 $ 19 Outside the United States 5 7 Total $ 13 $ 26

Geographic Regions

Geographic Regions	12 Months Ended
	Dec. 31, 2020
Geographic Regions Disclosure [Abstract]
Geographic Regions	Geographic Regions Credco is principally engaged in the business of financing Card Member receivables and in providing loans to certain of its affiliates. Credco’s management makes operating decisions and assesses performance based on an ongoing review of these financing activities, which constitute its only operating segment for financial reporting purposes. The following table presents Credco’s revenues and pretax income in different geographic regions based, in part, upon internal allocations, which necessarily involve its management judgment: (Millions) 2020 2019 2018 Revenues United States $ 533 $ 1,133 $ 1,033 Outside the United States 297 482 428 Consolidated $ 830 $ 1,615 $ 1,461 Pretax income United States $ 142 $ 61 $ 28 Outside the United States 180 451 388 Consolidated $ 322 $ 512 $ 416

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Quarterly Financial Data (Unaudited)	Quarterly Financial Data (Unaudited) Quarterly financial information for the years ended December 31, 2020 and 2019 are summarized as follows: (Millions) 2020 2019 Quarters ended 12/31 9/30 6/30 3/31 12/31 9/30 6/30 3/31 Revenues $ 139 $ 76 $ 349 $ 266 $ 377 $ 388 $ 418 $ 432 Pretax income 120 46 114 42 132 131 130 119 Net income $ 71 $ 26 $ 82 $ 22 $ 93 $ 110 $ 112 $ 103

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Significant intercompany transactions are eliminated.
Foreign Currency	Foreign Currency Monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars based upon exchange rates prevailing at the end of the reporting period; non-monetary assets and liabilities are translated at the historic exchange rate at the date of the transaction; revenues and expenses are translated at the average month-end exchange rates during the year. Resulting translation adjustments, along with any related qualifying hedge and tax effects, are included in accumulated other comprehensive income (loss) (AOCI), a component of shareholder’s equity. Translation adjustments, including qualifying hedge and tax effects, are reclassified to earnings upon the sale or substantial liquidation of investments in foreign operations. Gains and losses related to transactions in a currency other than the functional currency are reported net in Other, net expenses, in Credco’s Consolidated Statements of Income.
Amounts Based on Estimates and Assumptions	Amounts Based on Estimates and Assumptions Accounting estimates are an integral part of the Consolidated Financial Statements. These estimates are based, in part, on Credco’s management assumptions concerning future events. Among the more significant assumptions are those that relate to reserves for Card Member credit losses on receivables and loans and income taxes. These accounting estimates reflect the best judgment of Credco’s management, but actual results could differ.
Revenues and Expenses	Discount Revenue Earned from Purchased Card Member Receivables and Card Member Loans Credco earns discount revenue from purchasing Card Member receivables and Card Member loans at a discount to par value. The discount is deferred and recognized as revenue over the period that the receivables and loans are estimated to be outstanding or funded. Estimates are based on the historical average life of Card Member receivables and Card Member loans. Interest Income from Affiliates Interest income from affiliates is earned on interest-bearing loans made by Credco to affiliates. Interest income is accrued primarily using the average daily balance method on loans and is recognized based on the outstanding loan principal amount and interest rates specified in the agreements until the outstanding loan balance is paid. Finance Revenue Finance revenue is assessed using the average daily balance method for Card Member loans and is recognized based upon the loan principal amount outstanding in accordance with the terms of the applicable account agreement until the outstanding balance is paid or written off. Interest Expense Interest expense includes interest incurred primarily to fund Card Member receivables and Card Member loans, general corporate purposes and liquidity needs, and is recognized as incurred.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and amounts due from banks, interest-bearing bank balances including restricted cash, and other highly liquid investments with original maturities of 90 days or less. Interest-bearing restricted cash primarily 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.
Classifications of Various Items	Certain reclassifications of prior period amounts have been made to conform to the current period presentation, including reclassification of restricted cash from Other assets to Cash and cash equivalents on the Consolidated Balance Sheets.
Recently Issued and Adopted Accounting Standards	In March 2020, the Financial Accounting Standards Board issued new accounting guidance related to the effects of reference rate reform on financial reporting. The guidance, effective for reporting periods through December 31, 2022, provides accounting relief for contract modifications that replace an interest rate impacted by reference rate reform (e.g., LIBOR) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections and other contractual arrangements. Credco adopted the guidance as of March 31, 2020, with no material impact on Credco’s financial position, results of operations and cash flows. There were no significant changes to Credco’s accounting policies, business processes or internal controls as a result of adopting the new guidance. Effective January 1, 2020, Credco adopted the new credit reserving methodology, applicable to certain financial instruments, known as the Current Expected Credit Loss (CECL) methodology under a modified retrospective transition. 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. Upon implementation, Card Member receivable reserves decreased by $147 million and Card Member loan reserves increased by $7 million, along with the associated current and deferred tax impact of $21 million, and cumulative effect adjustment to the opening balance of retained earnings, net of tax, of $119 million. There were no material changes to Credco’s business processes or internal controls as a result of adopting the new guidance. Refer to Note 3 for additional information on how Credco’s management estimates reserves for credit losses in accordance with the CECL methodology. Other Information Effective February 1, 2020, TRS removed U.S. Consumer and Small Business Card Member receivables from the Charge Trust and substantially replaced them with U.S. Corporate Card Member receivables in two phases. On February 1, 2020 and April 20, 2020, TRS transferred $5.2 billion and $1.7 billion, respectively, of U.S. Corporate Card Member receivables to the Charge Trust. Since Credco maintains participation interests in the Charge Trust, these transactions resulted in Credco (i) no longer having a $7.2 billion interest in U.S. Consumer and Small Business Card Member receivables and (ii) having an interest in the U.S. Corporate Card Member receivables in the Charge Trust. The settlement of $7.2 billion related to the U.S. Consumer and Small Business portfolio was used to repay borrowings from American Express Company leading to a reduction in Long-term debt to affiliates of $7.2 billion . In the month of June 2020, Credco restructured a number of its intercompany loan arrangements to further enhance funding flexibility and effectiveness. Credco borrowed $7.1 billion from TRS to repay borrowings from AE Exposure Management Limited of $4.7 billion. The excess of $2.2 billion was deposited with AENB, which was reported as part of Cash and cash equivalents as of June 30, 2020. During the second half of the year, amounts were withdrawn from AENB to meet business funding requirements resulting in $0.5 billion in deposits remaining with AENB.
Card Member Receivables and Card Member Loans	Card Member Receivables Card Member receivables represent amounts due on American Express charge card products. For American Express, the Card Member receivables are recorded at the time a Card Member enters into a point-of-sale transaction with a merchant. Each charge card transaction is authorized based on its likely economics, a Card Member’s most recent credit information and spend patterns. Charge Card Members generally must pay the full amount billed each month. Card Member Loans Card Member loans represent revolving amounts due on American Express cards. For American Express lending card products, these Card Member loans are recorded at the time a Card Member enters into a point-of-sale transaction with a merchant, as well as amounts due from charge Card Members who utilize the Pay Over Time features on their account and elect to revolve a portion of the outstanding balance by entering into a revolving payment arrangement with American Express. These loans have a range of terms such as credit limits, interest rates, fees and payment structures, which can be revised over time based on new information about Card Members and in accordance with applicable regulations and the respective product’s terms and conditions. Card Members holding revolving loans are typically required to make monthly payments based on pre-established amounts and the amounts that Card Members choose to revolve are subject to finance charges. Credco records these Card Member loans at the time they are purchased from TRS and certain of its subsidiaries that issue the card (card issuers). Card Member loans are presented on the Consolidated Balance Sheets, net of reserves for credit losses (refer to Note 3), and include principal and any related accrued interest and fees. American Express’ policy generally is to cease accruing interest on a Card Member loan at the time the account is written off, and establish reserves for interest that will not be collected.
Reserves for Credit Losses	American Express has in place an enterprise-wide credit risk management process and manages the overall credit risk exposure associated with the Card Member receivables and Card Member loans, including those purchased by Credco. Reserves for credit losses represent Credco’s best estimate of the expected credit losses in Credco’s outstanding portfolio of Card Member receivables and Card Member loans, as of the balance sheet date. The CECL methodology, which became effective January 1, 2020, requires Credco’s management to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period (R&S Period), which is approximately three years, beyond the balance sheet date. American Express makes various judgments combined with historical loss experience to determine a reserve rate that is applied to the outstanding loan or receivable balance to produce a reserve for expected credit losses. American Express uses a combination of statistically-based models that incorporate current and future economic conditions throughout the R&S Period. The process of estimating expected credit losses is based on several key models: Probability of Default (PD), Exposure at Default (EAD), and future recoveries for each month of the R&S Period. Beyond the R&S Period, American Express estimates expected credit losses by immediately reverting to long-term average loss rates. • PD models are used to estimate the likelihood an account will be written-off. • EAD models are used to estimate the balance of an account at the time of write-off. This includes balances less expected repayments based on historical payment and revolve behavior, which vary by customer. Due to the nature of revolving loan portfolios, the EAD models are complex and involve assumptions regarding the relationship between future spend and payment behaviors. • Recovery models are used to estimate amounts that are expected to be received from Card Members after default occurs, typically as a result of collection efforts. Future recoveries are estimated taking into consideration the time of default, time elapsed since default and macroeconomic conditions. American Express also estimates the likelihood and magnitude of recovery of previously written off accounts considering how long ago the account was written off and future economic conditions. American Express models are developed using historical loss experience covering the economic cycle and consider the impact of account characteristics on expected losses. Future economic conditions that are incorporated over the R&S Period include multiple macroeconomic scenarios provided to American Express by an independent third party. American Express reviews these economic scenarios and applies judgment to weight them in order to reflect the uncertainty surrounding these scenarios. These macroeconomic scenarios contain certain variables, including unemployment rates and real Gross Domestic Product (GDP), that are significant to American Express’ models. American Express also evaluates whether to include qualitative reserves to cover losses that are expected but, in its assessment, may not be adequately represented in the quantitative methods or the economic assumptions. American Express considers whether to adjust the quantitative reserves (higher or lower) to address possible limitations within the models or factors not included within the models, such as external conditions, emerging portfolio trends, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due accounts, or American Express’ risk actions. Lifetime losses for most of Card Member receivables and Card Member loans are evaluated at an appropriate level of granularity, including assessment on a pooled basis where financial assets share similar risk characteristics, such as past spend and remittance behaviors, credit bureau scores where available, delinquency status, tenure of balance outstanding, amongst others. Credit losses on accrued interest are measured and presented as part of Reserves for credit losses on the Consolidated Balance Sheets and within the Provisions for credit losses in the Consolidated Statements of Income, rather than reversing interest income. Card Member receivable and Card Member loan balances are written off when American Express considers amounts to be uncollectible, which is generally determined by the number of days past due and is typically no later than 180 days past due for pay in full or revolving loans. Card Member receivables and Card Member loans in bankruptcy or owed by deceased individuals are generally written off upon notification. Results for reporting periods beginning on or after January 1, 2020 are presented using the CECL methodology while comparative information continues to be reported in accordance with the incurred loss methodology in effect for prior years. Reserves for credit losses under the incurred loss methodology were primarily based upon statistical and analytical models that analyzed portfolio performance and reflected American Express’ judgments regarding the quantitative components of the reserve. The models considered several factors, including delinquency-based loss migration rates, loss emergence periods and average losses and recoveries over an appropriate historical period. Similar to the CECL methodology, American Express considered whether to adjust the quantitative reserves for certain external and internal qualitative factors, which may increase or decrease the reserves for credit losses.
Derivatives Financial Instruments and Hedging Activities	A majority of Credco’s derivative assets and liabilities as of December 31, 2020, and 2019 are subject to master netting agreements with its derivative counterparties. Accordingly, where appropriate, Credco has elected to present derivative assets and liabilities with the same counterparty on a net basis in the Consolidated Balance Sheets.Credco’s derivatives are carried at fair value on the Consolidated Balance Sheets. The accounting for changes in fair value depends on the instruments’ intended use and the resulting hedge designation, if any, as discussed below.Credco formally assesses, at inception of the hedge accounting relationship and on a quarterly basis, whether derivatives designated as hedges are highly effective in offsetting the fair value or cash flows of the hedged items. These assessments usually are made through the application of a regression analysis method. If it is determined that a derivative is not highly effective as a hedge, Credco will discontinue the application of hedge accounting.Gains or losses on the fair value hedging instrument principally offset the losses or gains on the hedged item attributable to the hedged risk.Credco has derivatives that act as economic hedges, but are not designated as such for hedge accounting purposes. Foreign currency transactions from time to time may be partially or fully economically hedged through foreign currency contracts, primarily foreign exchange forwards. These hedges generally mature within one year. Foreign currency contracts involve the purchase and sale of designated currencies at an agreed-upon rate for settlement on a specified date.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.
Fair Value Measurements	Credco monitors the market conditions and evaluates the fair value hierarchy levels at least quarterly.
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 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.Credco records a deferred income tax (benefit) provision when there are differences between assets and liabilities measured for financial reporting and for income tax return purposes. These temporary differences result in taxable or deductible amounts in future years and are measured using the tax rates and laws that will be in effect when such differences are expected to reverse.
Income Tax Uncertainties	The amount of benefit recognized for financial reporting purposes is based on Credco’s management best judgment of the largest amount of benefit that is more likely than not to be realized on ultimate settlement with the taxing authority given the facts, circumstances and information available at the reporting date. Credco adjusts the level of unrecognized tax benefits when there is new information available to assess the likelihood of the outcome.

Card Member Receivables and C_2

Card Member Receivables and Card Member Loans (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Financing receivables detail	Card Member receivables as of December 31, 2020 and 2019 consisted of: (Millions) 2020 2019 Global Consumer Services Group (a)(b) $ 2,157 $ 9,847 Global Commercial Services (b) 10,000 15,710 Card Member receivables (c) 12,157 25,557 Less: Reserve for credit losses 70 162 Card Member receivables, net (d) $ 12,087 $ 25,395 (a) Comprised of International Consumer Services as of December 31, 2020, and U.S. and International Consumer Services as of December 31, 2019. (b) During the three months ended March 31, 2020, $7.2 billion of U.S. Consumer and Small Business Card Member receivables were transferred out of the Charge Trust resulting in a reduction of the same amount in Credco’s participation interest in such receivables. Refer to Note 1 for additional information. (c) Net of deferred discount revenue totaling $19 million and $75 million as of December 31, 2020, and 2019, respectively. (d) Card Member receivables modified in a troubled debt restructuring (TDR) program were immaterial. Card Member loans as of December 31, 2020, and 2019 consisted of: (Millions) 2020 2019 Global Consumer Services Group (a) $ 500 $ 697 Less: Reserve for credit losses 20 10 Card Member loans, net (b) $ 480 $ 687 (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 December 31, 2020, and 2019: 2020 (Millions) Current 30-59 60-89 90+ Days Total Card Member Receivables: Global Consumer Services Group $ 2,139 $ 5 $ 4 $ 9 $ 2,157 Global Commercial Services Global Small Business Services 1,047 3 2 5 1,057 Global Corporate Payments (a) (b) (b) (b) 32 8,943 Card Member Loans: Global Consumer Services Group $ 493 $ 2 $ 1 $ 4 $ 500 2019 (Millions) Current 30-59 60-89 90+ Days Total Card Member Receivables: Global Consumer Services Group $ 9,766 $ 29 $ 16 $ 36 $ 9,847 Global Commercial Services Global Small Business Services 1,996 10 5 9 2,020 Global Corporate Payments (a) (b) (b) (b) 105 13,690 Card Member Loans: Global Consumer Services Group $ 689 $ 3 $ 2 $ 3 $ 697 (a) Global Corporate Payments (GCP) reflects global, large and middle market corporate accounts. 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 receivables and loans	The following tables present the key credit quality indicators as of or for the years ended December 31: 2020 2019 Net (a) 30+ Days Net (a) 30+ Days Card Member Receivables: Global Consumer Services Group 1.51 % 0.83 % 1.10 % 0.82 % Global Small Business Services 1.84 % 0.95 % 1.39 % 1.19 % Global Corporate Payments 1.25 % (b) (c) (b) Card Member Loans: Global Consumer Services Group 2.81 % 1.40 % 1.53 % 1.15 % (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 receivable or Card Member loan balances in each of the periods indicated. (b) For GCP Card Member receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ Days Past Billing as a % of total is 0.36% and 0.77% for the year ended December 31, 2020, and 2019, respectively. (c) Net loss ratio was the credit quality indicator for GCP Card Member receivables for prior periods, and 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. The net loss ratio for the year ended December 31, 2019 was 0.06%.

Reserves for Credit Losses (Tab

Reserves for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2020
Reserves for Losses [Abstract]
Changes in the Financing Receivable Reserve for Credit Losses	The following table presents changes in the Card Member receivables reserve for credit losses for the years ended December 31: (Millions) 2020 2019 2018 Balance, January 1 (a) $ 15 $ 167 $ 145 Provisions (b) 224 216 243 Net write-offs (c) (177) (229) (238) Other adjustments (d) 8 8 17 Balance, December 31 $ 70 $ 162 $ 167 (a) For the year ended December 31, 2020, beginning balance includes a decrease of $147 million as of January 1, 2020, related to the adoption of the CECL methodology. (b) Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (c) Net of recoveries of $82 million, $125 million, and $119 million for the years ended December 31, 2020, 2019 and 2018, respectively. (d) For the year ended December 31, 2020, primarily includes reserve adjustments related to the removal of U.S. Consumer and Small Business Card Member receivables of $7.2 billion from the Charge Trust. For the years ended December 31, 2019 and 2018, primarily includes reserve balances related to new groups of, and participation interests in, Card Member receivables purchased from affiliates, totaling $2.7 billion and $9.8 billion, respectively, and participation interests in Card Member receivables sold to an affiliate totaling $1.1 billion and $6.2 billion, respectively. For all the years presented, also includes foreign currency translation adjustments. The following table presents changes in the Card Member loans reserve for credit losses for the years ended December 31: (Millions) 2020 2019 2018 Balance, January 1 (a) $ 17 $ 5 $ 5 Provisions (b) 18 14 6 Net write-offs (c) (15) (9) (6) Balance, December 31 $ 20 $ 10 $ 5 (a) For the year ended December 31, 2020, beginning balance includes an increase of $7 million as of January 1, 2020, related to the adoption of the CECL methodology. (b) Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (c) Net of recoveries of $2.0 million, $1.6 million, and $1.8 million for the year ended December 31, 2020, 2019 and 2018, respectively.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-term debt	Credco’s short-term debt outstanding (excluding short-term debt to affiliates), defined as borrowings with original contractual maturity dates of less than one year, as of December 31 was as follows: 2020 2019 (Millions, except percentages) Outstanding Year-End Stated Interest Rate on Debt (a) Outstanding Year-End Stated Interest Rate on Debt (a) Commercial paper (b) $ — — % $ 3,001 1.94 % Other short-term borrowings (c) — — 215 1.58 Total $ — — % $ 3,216 1.91 % (a) For floating-rate issuances, the stated interest rates are weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2019. (b) Average commercial paper outstanding was $628 million and $299 million in 2020 and 2019, respectively. (c) Represents interest-bearing book overdrafts with banks .
Long-term debt	Credco’s long-term debt outstanding (excluding long-term debt to affiliates), defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as follows: 2020 2019 Outstanding Balance (a) Year-End Interest Rate on Debt (b) Year-End Interest Rate with Swaps (b)(c) Outstanding Balance (a) Year-End Interest Rate on Debt (b) Year-End Interest Rate with Swaps (b)(c) (Millions, except Fixed Rate Senior Notes 2021-2027 $ 6,746 2.38 % 1.67 % $ 11,839 2.40 % 2.53 % Floating Rate Senior Notes 2021-2022 300 0.93 — 1,650 2.64 — Unamortized Underwriting Fees (9) (20) Total Long-Term Debt $ 7,037 2.32 % $ 13,469 2.43 % (a) The outstanding balances include (i) unamortized discount, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. Refer to Note 6 for more details on Credco’s treatment of fair value hedges. (b) For floating-rate issuances, the stated interest rate on debt is weighted based on outstanding principal balances and interest rates in effect as of December 31, 2020, and 2019. (c) Interest rates with swaps are only presented when swaps are in place to hedge the underlying debt. The interest rates with swaps are weighted based on the outstanding principal balances and the interest rates on the floating leg of the swaps in effect as of December 31, 2020, and 2019.
Aggregate annual maturities on long-term debt obligations	Aggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31, 2020 were as follows: (Millions) 2021 $ 2,975 2022 2,050 2023 — 2024 — 2025 — Thereafter 2,000 Total 7,025 Unamortized Underwriting Fees (9) Unamortized Discount (19) Impacts due to Fair Value Hedge Accounting 40 Total Long-Term Debt $ 7,037

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2020
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 December 31: Other Assets Other Liabilities (Millions) 2020 2019 2020 2019 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a)(b) $ — $ — $ — $ — Net investment hedges - Foreign exchange contracts 1 12 195 44 Total derivatives designated as hedging instruments 1 12 195 44 Derivatives not designated as hedging instruments: Foreign exchange contracts 48 31 89 182 Total derivatives, gross 49 43 284 226 Derivative asset and derivative liability netting (c) (15) (27) (15) (27) Total derivatives, net $ 34 $ 16 $ 269 $ 199 (a) For Credco’s centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. (b) Credco posted $12 million and $20 million as of December 31, 2020, and 2019, 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. (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 fixed-rate long-term debt for the years ended December 31: Gains (losses) (Millions) 2020 2019 2018 Fixed-rate long-term debt $ (42) $ (181) $ 29 Derivatives designated as hedging instruments 45 184 (13) Total $ 3 $ 3 $ 16

Fair Values (Tables)

Fair Values (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [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 described in the preceding paragraphs), as of December 31: (Millions) 2020 2019 Assets: Derivatives, gross (a) $ 49 $ 43 Total assets 49 43 Liabilities: Derivatives, gross (a) 284 226 Total liabilities $ 284 $ 226 (a) Refer to Note 6 for the fair values of derivative assets and liabilities, on a further disaggregated basis.
Summary of Estimated Fair Values of Financial Assets and Liabilities	The following table summarizes the estimated fair values of 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 December 31, 2020, and 2019. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of December 31, 2020 and 2019 and require Credco’s judgment. These figures may not be indicative of future fair values, nor can the fair value of Credco be estimated by aggregating the amounts presented. Carrying Corresponding Fair Value Amount 2020 (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) $ 0.6 $ 0.6 $ 0.6 $ — $ — Other financial assets (b) 12.1 12.1 — 12.1 — Financial assets carried at other than fair value Card Member loans, less reserves for credit losses 0.5 0.5 — — 0.5 Loans to affiliates and other 10.9 11.1 — 5.0 6.1 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 12.6 12.6 — 12.6 — Financial liabilities carried at other than fair value Long-term debt 7.0 7.4 — 7.4 — Long-term debt to affiliates $ 0.8 $ 0.8 $ — $ 0.8 $ — Carrying Corresponding Fair Value Amount 2019 (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) $ 0.1 $ 0.1 $ 0.1 $ — $ — Other financial assets (b) 26.2 26.2 — 26.2 — Financial assets carried at other than fair value Card Member loans, less reserves for credit losses 0.7 0.7 — — 0.7 Loans to affiliates and other 10.3 10.4 — 2.8 7.6 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 11.2 11.2 — 11.2 — Financial liabilities carried at other than fair value Long-term debt 13.5 13.7 — 13.7 — Long-term debt to affiliates $ 9.3 $ 9.4 $ — $ 9.4 $ — (a) Amounts reflect interest-bearing deposits and interest-bearing restricted cash. Refer to Note 1 for additional information. (b) Level 2 amounts primarily reflect Card Member receivables.

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Certain transactions with affiliates	Transactions with affiliates as of or for the years ended December 31, were as follows: (Millions, except percentages) 2020 2019 2018 Loans to affiliates and other $ 10,890 $ 10,345 $ 14,136 Average interest rate on loans to affiliates and other 1.52 % 2.89 % 2.79 % Due from affiliates $ 6 $ 652 $ 210 Restricted cash with affiliates 120 116 93 Short-term debt to affiliates 8,569 6,225 5,899 Average interest rate on short-term debt to affiliates 0.62 % 2.33 % 2.09 % Maximum month-end level of short-term debt during the year $ 8,622 $ 7,087 $ 14,216 Long-term debt to affiliates 822 9,292 7,523 Average interest rate on long-term debt to affiliates 1.65 % 3.17 % 2.69 % Maximum month-end level of long-term debt during the year $ 3,276 $ 13,391 $ 8,725 Due to affiliates 4,344 2,133 2,869 Maximum month-end level of loans to affiliates during the year 13,959 14,264 14,136 Interest income from affiliates and other 166 332 383 Interest expense to affiliates 75 433 225 Other, net expense 2 2 2 Interest paid on short-term and long-term debt $ 112 $ 421 $ 198
Components of loans to affiliates	The components of loans to affiliates and other as of December 31 were as follows: (Millions) 2020 2019 American Express Services Europe Limited $ 2,881 $ 4,206 American Express Company 2,772 — American Express Australia Limited 1,745 2,052 Amex Global Holdings C.V. 1,430 888 Amex Bank of Canada 857 1,587 American Express Company (Mexico) S.A. de C.V. 540 534 American Express International, Inc., Singapore Branch 303 413 American Express Bank (Mexico) S.A. 257 404 American Express International (NZ), Inc. 56 70 Alpha Card S.C.R.L./C.V.B.A. 25 120 American Express Saudi Arabia (C) JSC 24 71 Total (a) $ 10,890 $ 10,345 (a) As of December 31, 2020, and 2019, approximately $6.4 billion and $8.2 billion, respectively, were collateralized by the underlying Card Member receivables and loans transferred with recourse.
Components of short-term debt to affiliates	Components of short-term debt to affiliates as of December 31 were as follows: (Millions) 2020 2019 American Express Travel Related Services Company, Inc. (a) $ 7,073 $ — AE Exposure Management Limited (a) 1,193 5,731 American Express Holdings Netherlands CV 192 192 Accertify Inc. 107 82 American Express Swiss Holdings GmbH 4 1 American Express Europe LLC — 219 Total $ 8,569 $ 6,225 (a) Refer to Note 1 to the “Consolidated Financial Statements” for additional information.
Components of long-term debt to affiliates	Components of long-term debt to affiliates as of December 31 were as follows: 2020 2019 Year-End Stated Year-End Stated (Millions, except percentages) American Express Company (a) $ 454 0.91 % $ 8,959 2.85 % Amex Funding Management (Europe) Limited (b) 368 0.28 333 0.28 Total $ 822 0.63 % $ 9,292 2.76 % (a) Amounts payable by November 2023. Refer to Note 1 to the “Consolidated Financial Statements” for additional information. (b) Amounts payable by September 2021.

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Components of comprehensive loss, net of tax	Changes in Foreign Currency Translation Adjustments for the three years ended December 31 were as follows: (Millions), net of tax Foreign Balance as of December 31, 2017 $ (998) Net translation on investments in foreign operations (189) Net hedges of investments in foreign operations 127 Net change in accumulated other comprehensive loss (62) Balances as of December 31, 2018 (1,060) Net translation on investments in foreign operations 17 Net hedges of investments in foreign operations (44) Net change in accumulated other comprehensive loss (27) Balances as of December 31, 2019 (1,087) Net translation on investments in foreign operations 119 Net hedges of investments in foreign operations (131) Net change in accumulated other comprehensive loss (12) Balances as of December 31, 2020 $ (1,099)
Foreign currency translation adjustments - tax effect	The following table shows the tax impact for the three years ended December 31 for the changes in Foreign Currency Translation Adjustments presented above: Tax expense (benefit) (Millions) 2020 2019 2018 Net translation on investments in foreign operations $ 21 $ 5 $ (23) Net hedges of investments in foreign operations (41) (14) 40 Total tax impact $ (20) $ (9) $ 17

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of income tax expense	The components of income tax expense for the years ended December 31 included in Credco’s Consolidated Statements of Income were as follows: (Millions) 2020 2019 2018 Current income tax expense (benefit): U.S. federal $ 69 $ 45 $ (14) U.S. state and local 13 13 (6) Non-U.S. 182 23 84 Total current income tax expense 264 81 64 Deferred income tax expense (benefit): U.S. federal (135) 11 (28) U.S. state and local (4) — 1 Non-U.S. (4) 2 (8) Total deferred income tax expense (benefit) (143) 13 (35) Total income tax expense $ 121 $ 94 $ 29
Effective income tax rate	A reconciliation of the U.S. federal statutory rate of 21 percent as of December 31, 2020, 2019 and 2018, to Credco’s actual income tax rate on continuing operations was as follows: 2020 2019 2018 U.S. statutory federal income tax rate 21.0 % 21.0 % 21.0 % Increase (decrease) in taxes resulting from: State and local income taxes, net of federal benefit 2.5 0.8 (0.4) Non-U.S. subsidiaries earnings (a) 14.9 (3.7) (8.7) Tax settlements (b) (0.9) — — U.S. Tax Act — — (5.6) Other (c) 0.1 0.3 0.7 Actual tax rate 37.6 % 18.4 % 7.0 % (a) 2020 included discrete tax charges related to the attribution and taxation of income to jurisdictions outside the U.S. (b) Related to the resolution of tax matters in various jurisdictions. (c) Results for all years include the impact of prior year tax returns filed in the current year.
Components of deferred tax assets and liabilities	The significant components of deferred tax assets and liabilities as of December 31 are reflected in the following table: (Millions) 2020 2019 Deferred tax assets: Reserves not yet deducted for tax purposes $ 26 $ 29 State income taxes 10 9 Foreign exchange loss 41 32 Deferred tax attributes (a) 110 15 Other 11 10 Gross deferred tax assets 198 95 Deferred tax liabilities: Investment in foreign subsidiaries (b) 83 74 Gross deferred tax liabilities 83 74 Net deferred tax assets $ 115 $ 21 (a) Deferred foreign tax credits and other related adjustments. (b) Deferred state income and foreign withholding tax consequences of future cash distributions from non-U.S. subsidiaries .
Changes in unrecognized tax benefits	The following table presents changes in unrecognized tax benefits: (Millions) 2020 2019 2018 Balance, January 1 $ 60 $ 53 $ 24 Increases: Current year tax positions 4 5 4 Tax positions related to prior years 37 4 26 Effects of foreign currency translation 1 — — Decreases: Settlements with tax authorities (3) — — Lapse of statute of limitations (1) (2) (1) Balance, December 31 $ 98 $ 60 $ 53
Deemed repatriation tax payments due by year	Payments due by year (Millions) 2021 2022 - 2023 2024 – 2025 2026 and thereafter Total Deemed repatriation tax $ — $ 6 $ 254 $ 181 $ 441

Significant Credit Concentrat_2

Significant Credit Concentrations (Tables)	12 Months Ended
	Dec. 31, 2020
Concentration Risk Disclosure [Abstract]
Maximum Credit Exposure by Category	The following table details Credco’s maximum credit exposure of the on-balance sheet assets by category, as of December 31: (Billions) 2020 2019 On-balance sheet: Loans to affiliates and other $ 11 $ 10 Institutions (a) 9 13 Individuals (b) 3 12 Financial Services (c) 1 1 Due from affiliates — 1 Total on-balance sheet $ 24 $ 37 (a) Primarily reflects Card Member receivables from other corporate institutions, which are governed by institutional credit risk management. (b) Primarily reflects Card Member receivables and loans, which are governed by individual credit risk management. (c) Represents banks, broker-dealers, insurance companies and savings and loan associations.
Financing Receivables and Loans Exposure	The following table details Credco’s Card Member receivables and loans exposure in the United States and outside the United States as of December 31: (Billions) 2020 2019 United States $ 8 $ 19 Outside the United States 5 7 Total $ 13 $ 26

Geographic Regions (Tables)

Geographic Regions (Tables)	12 Months Ended
	Dec. 31, 2020
Geographic Regions Disclosure [Abstract]
Revenue and pretax income in different geographic regions	The following table presents Credco’s revenues and pretax income in different geographic regions based, in part, upon internal allocations, which necessarily involve its management judgment: (Millions) 2020 2019 2018 Revenues United States $ 533 $ 1,133 $ 1,033 Outside the United States 297 482 428 Consolidated $ 830 $ 1,615 $ 1,461 Pretax income United States $ 142 $ 61 $ 28 Outside the United States 180 451 388 Consolidated $ 322 $ 512 $ 416

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Quarterly financial data	Quarterly financial information for the years ended December 31, 2020 and 2019 are summarized as follows: (Millions) 2020 2019 Quarters ended 12/31 9/30 6/30 3/31 12/31 9/30 6/30 3/31 Revenues $ 139 $ 76 $ 349 $ 266 $ 377 $ 388 $ 418 $ 432 Pretax income 120 46 114 42 132 131 130 119 Net income $ 71 $ 26 $ 82 $ 22 $ 93 $ 110 $ 112 $ 103

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Textuals (Details) $ in Millions		Feb. 01, 2020USD ($)	Jan. 01, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Apr. 20, 2020USD ($)	Dec. 31, 2019USD ($)		Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Accounting Policies [Abstract]
Ratio of combined earnings and fixed earnings to fixed charges required to maintain availability of credit line						1.25
Summary Of Significant Accounting Policies [Line Items]
Shareholders' equity						$ (2,895)		$ (2,587)		$ (2,196)	$ (1,871)
Removal of financing receivables (U.S. consumer Card Member receivables)					$ 7,200
Reduction in long term debt to affiliate		$ 7,200
Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Shareholders' equity						(3,833)		(3,513)		(3,095)	(2,708)
Restructuring of Loan Arrangements [Member] | Affiliated Entity [Member]
Summary Of Significant Accounting Policies [Line Items]
Amount borrowed from related party				$ 7,100
Repayment of borrowings from related party				4,700
Excess deposited with AENB				$ 2,200		500
Cumulative Effect, Period of Adoption, Adjustment [Member]
Summary Of Significant Accounting Policies [Line Items]
Current and deferred tax impact			$ 21
Shareholders' equity	[1]							(119)
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Shareholders' equity			(119)					(119)	[1]
Card Member Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Receivable reserves						(20)		(10)		(5)	(5)
Card Member Loans [Member] | Global Consumer Services Group [Member]
Summary Of Significant Accounting Policies [Line Items]
Receivable reserves						(20)		(10)
Card Member Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Summary Of Significant Accounting Policies [Line Items]
Decrease in financing receivable, allowance			(7)
Receivable reserves								(17)
Card Member Receivables [Member]
Summary Of Significant Accounting Policies [Line Items]
Receivable reserves						$ (70)		(162)		$ (167)	$ (145)
Removal of financing receivables (U.S. consumer Card Member receivables)		7,200
Card Member Receivables [Member] | Global Corporate Payments [Member]
Summary Of Significant Accounting Policies [Line Items]
Transfer of financing receivables		5,200					$ 1,700
Card Member Receivables [Member] | Global Consumer Services Group [Member]
Summary Of Significant Accounting Policies [Line Items]
Removal of financing receivables (U.S. consumer Card Member receivables)		$ 7,200
Card Member Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Summary Of Significant Accounting Policies [Line Items]
Decrease in financing receivable, allowance			$ 147
Receivable reserves								$ (15)
[1]	Represents $140 million, net of tax of $21 million, related to the impact as of January 1, 2020, of adopting the new accounting guidance for the recognition of credit losses on certain financial instruments.

Card Member Receivables and C_3

Card Member Receivables and Card Member Loans (Details) - USD ($) $ in Millions	Feb. 01, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable Segment [Abstract]
Reduction of Card member receivables (U.S. consumer Card Member receivables)		$ 7,200
Card Member Receivables [Member]
Financing Receivable Segment [Abstract]
Financing receivables			$ 12,157	$ 25,557
Financing receivables, reserves for credit losses			70	162	$ 167	$ 145
Financing receivables, net			12,087	25,395
Reduction of Card member receivables (U.S. consumer Card Member receivables)	$ 7,200
Net of deferred discount revenues			19	75
Global Consumer Services Group [Member] | Card Member Receivables [Member]
Financing Receivable Segment [Abstract]
Financing receivables			2,157	9,847
Reduction of Card member receivables (U.S. consumer Card Member receivables)	$ 7,200
Global Commercial Services [Member] | Card Member Receivables [Member]
Financing Receivable Segment [Abstract]
Financing receivables			$ 10,000	$ 15,710

Card Member Receivables and C_4

Card Member Receivables and Card Member Loans 1 (Details) - Card Member Loans [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, reserves for credit losses	$ 20	$ 10	$ 5	$ 5
Financing receivables, net	480	687
Global Consumer Services Group [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables	500	697
Financing receivables, reserves for credit losses	20	10
Financing receivables, net	$ 480	$ 687

Card Member Receivables and C_5

Card Member Receivables and Card Member Loans 2 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables gross	$ 12,157	$ 25,557
Global Consumer Services Group [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Current	2,139	9,766
Financing receivables gross	2,157	9,847
Global Consumer Services Group [Member] | Card Member Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Current	493	689
Financing receivables gross	500	697
Global Consumer Services Group [Member] | 30-59 Days Past Due [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	5	29
Global Consumer Services Group [Member] | 30-59 Days Past Due [Member] | Card Member Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	2	3
Global Consumer Services Group [Member] | 60-89 Days Past Due [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	4	16
Global Consumer Services Group [Member] | 60-89 Days Past Due [Member] | Card Member Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	1	2
Global Consumer Services Group [Member] | 90+ Days Past Due [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	9	36
Global Consumer Services Group [Member] | 90+ Days Past Due [Member] | Card Member Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	4	3
Global Small Business Services [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Current	1,047	1,996
Financing receivables gross	1,057	2,020
Global Small Business Services [Member] | 30-59 Days Past Due [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	3	10
Global Small Business Services [Member] | 60-89 Days Past Due [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	2	5
Global Small Business Services [Member] | 90+ Days Past Due [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	5	9
Global Corporate Payments [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Financing receivables gross	8,943	13,690
Global Corporate Payments [Member] | 90+ Days Past Due [Member] | Card Member Receivables [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Period past due	$ 32	$ 105

Card Member Receivables and C_6

Card Member Receivables and Card Member Loans 3 (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Global Consumer Services Group [Member] | Card Member Receivables [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Receivables and Loans
Credit quality indicators	1.51%	1.10%
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	0.83%	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	2.81%	1.53%
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	1.40%	1.15%
Global Small Business Services [Member] | Card Member Receivables [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Receivables and Loans
Credit quality indicators	1.84%	1.39%
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	0.95%	1.19%
Global Corporate Payments [Member] | Card Member Receivables [Member] | Net Write-Off Rate [Member]
Credit Quality Indicator for Receivables and Loans
Credit quality indicators	1.25%
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		0.06%
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	0.36%	0.77%

Reserves for Credit Losses - Ch

Reserves for Credit Losses - Changes in Card Member Receivables Reserve for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 01, 2020	Jan. 01, 2020
Changes in the Card Member receivable reserve for losses
Provisions	$ 242	$ 230	$ 249
Card Member Receivables [Member]
Changes in the Card Member receivable reserve for losses
Balance, January 1	162	167	145
Provisions	224	216	243
Net write-offs	(177)	(229)	(238)
Other adjustments	8	8	17
Balance, December 31	70	162	167
Net of recoveries	82	125	119
Participation interests in financing receivables purchased from affiliates		2,700	9,800
Participation interest in financing receivables sold to affiliates		1,100	$ 6,200
Card Member Receivables [Member] | Global Consumer Services Group [Member]
Changes in the Card Member receivable reserve for losses
Removal of financing receivables				$ 7,200
Card Member Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Changes in the Card Member receivable reserve for losses
Balance, January 1	$ 15
Balance, December 31		$ 15
Decrease in financing receivable, allowance					$ 147

Reserves for Credit Losses - _2

Reserves for Credit Losses - Changes in Card Member Loans Reserve for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Provisions	$ 242	$ 230	$ 249
Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Increase related to adoption of CECL methodology				$ 7
Card Member Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, January 1	10	5	5
Provisions	18	14	6
Net write-offs	(15)	(9)	(6)
Balance, December 31	20	10	5
Net of recoveries	2	1.6	$ 1.8
Card Member Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, January 1	$ 17
Balance, December 31		$ 17

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Outstanding Balance	$ 0	$ 3,216
Average commercial paper outstanding	$ 628	$ 299
Short-term Debt [Member]
Short-term Debt [Line Items]
Year-End Stated Rate on Debt	0.00%	1.91%
Commercial Paper [Member] | Short-term Debt [Member]
Short-term Debt [Line Items]
Outstanding Balance	$ 0	$ 3,001
Year-End Stated Rate on Debt	0.00%	1.94%
Other Short Term Borrowings [Member] | Short-term Debt [Member]
Short-term Debt [Line Items]
Outstanding Balance	$ 0	$ 215
Year-End Stated Rate on Debt	0.00%	1.58%

Debt 1 (Details)

Debt 1 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding Balance	$ 7,037	$ 13,469
Unamortized Underwriting Fees	$ (9)	$ (20)
Long-term Debt [Member]
Debt Instrument [Line Items]
Year-End Stated Rate on Debt	2.32%	2.43%
Fixed Rate Senior Notes Amount [Member]
Debt Instrument [Line Items]
Original Contractual Maturity Dates, Start	2021
Original Contractual Maturity Dates, End	2027
Outstanding Balance	$ 6,746	$ 11,839
Year-End Stated Rate on Debt	2.38%	2.40%
Year End Interest Rate With Swaps	1.67%	2.53%
Floating Rate Senior Notes Amount [Member]
Debt Instrument [Line Items]
Original Contractual Maturity Dates, Start	2021
Original Contractual Maturity Dates, End	2022
Outstanding Balance	$ 300	$ 1,650
Year-End Stated Rate on Debt	0.93%	2.64%
Year End Interest Rate With Swaps	0.00%	0.00%

Debt 2 (Details)

Debt 2 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	$ 2,975
2022	2,050
2023	0
2024	0
2025	0
Thereafter	2,000
Total	7,025
Unamortized Underwriting Fees	(9)	$ (20)
Unamortized Discount	(19)
Impacts due to Fair Value Hedge Accounting	40
Total Long-Term Debt	$ 7,037	$ 13,469

Debt Textuals (Details)

Debt Textuals (Details)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Fees to maintain credit lines	$ 2,500,000	$ 4,900,000
Ratio of combined earnings and fixed earnings to fixed charges required to maintain availability of credit line	1.25
Actual ratio of combined earnings and fixed earnings to fixed charges required to maintain availability of credit line	2.17
Total interest paid on short and long term debt	$ 200,000,000	500,000,000	$ 600,000,000
Long-term Debt [Member]
Debt Instrument [Line Items]
Total bank lines of credit of the company	3,500,000,000	3,500,000,000
Unutilized total credit lines	$ 3,500,000,000	$ 3,500,000,000

Restrictions as to Dividends _2

Restrictions as to Dividends and Limitations on Indebtedness Textual (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract]
Minimum consolidated net worth	$ 50
Ratio of combined earnings and fixed earnings to fixed charges required to maintain availability of credit line	1.25

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets, gross	$ 49	$ 43
Total fair value of derivative liabilities, gross	284	226
Derivative asset and derivative liability netting, other assets	(15)	(27)
Derivative asset and derivative liability netting, other liabilities	(15)	(27)
Total derivatives assets, net	34	16
Total derivatives liabilities, net	269	199
Margin on interest rate swap not netted	12	20
Other Assets [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets, gross	1	12
Other Assets [Member] | Interest Rate Contracts [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets, gross	0	0
Other Assets [Member] | Foreign Exchange Contracts [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets, gross	1	12
Other Assets [Member] | Foreign Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets, gross	48	31
Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities, gross	195	44
Other Liabilities [Member] | Interest Rate Contracts [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities, gross	0	0
Other Liabilities [Member] | Foreign Exchange Contracts [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities, gross	195	44
Other Liabilities [Member] | Foreign Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities, gross	$ 89	$ 182

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities 1 (Details) - Interest Expense [Member] - Interest Rate Contracts [Member] - Fair Value Hedging [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Fixed-rate long-term debt	$ (42)	$ (181)	$ 29
Derivatives designated as hedging instruments	45	184	(13)
Total	$ 3	$ 3	$ 16

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities Textuals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivatives, hedged liabilities	$ 3,500	$ 8,700
Cumulative amount of fair value hedging adjustments	40	(2)
Net (decrease) increase in interest expense on long-term debt	(39)	90	$ 75
Notional amounts of foreign currency derivatives	2,900	3,000
Net gains on derivatives not designated as hedges	15	87	59
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Derivatives, Fair Value [Line Items]
Gain (loss) on net investment hedges, net of taxes	(131)	(44)	$ 127
Fair Value Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivatives, hedged liabilities	$ 3,500	$ 8,800

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets [Abstract]
Derivatives, gross	$ 49	$ 43
Liabilities [Abstract]
Derivatives, gross	284	226
Level 2 [Member]
Assets [Abstract]
Derivatives, gross	49	43
Total assets	49	43
Liabilities [Abstract]
Derivatives, gross	284	226
Total liabilities	$ 284	$ 226

Fair Value 1 (Details)

Fair Value 1 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial assets carried at other than fair value
Loans to affiliates and other	$ 10,890	$ 10,345	$ 14,136
Financial liabilities carried at other than fair value
Long-term debt	7,037	13,469
Long-term debt with affiliates	822	9,292	$ 7,523
Card Member Loans [Member]
Financial assets carried at other than fair value
Card Member loans, less reserves for credit losses	480	687
Carrying Value [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	600	100
Other financial assets	12,100	26,200
Financial assets carried at other than fair value
Loans to affiliates and other	10,900	10,300
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	12,600	11,200
Financial liabilities carried at other than fair value
Long-term debt	7,000	13,500
Long-term debt with affiliates	800	9,300
Carrying Value [Member] | Card Member Loans [Member]
Financial assets carried at other than fair value
Card Member loans, less reserves for credit losses	500	700
Estimate of Fair Value Measurement [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	600	100
Other financial assets	12,100	26,200
Financial assets carried at other than fair value
Loans to affiliates and other	11,100	10,400
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	12,600	11,200
Financial liabilities carried at other than fair value
Long-term debt	7,400	13,700
Long-term debt with affiliates	800	9,400
Estimate of Fair Value Measurement [Member] | Card Member Loans [Member]
Financial assets carried at other than fair value
Card Member loans, less reserves for credit losses	500	700
Estimate of Fair Value Measurement [Member] | Level 1 [Member]
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents per Consolidated Balance Sheets	600	100
Other financial assets	0	0
Financial assets carried at other than fair value
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 with affiliates	0	0
Estimate of Fair Value Measurement [Member] | Level 1 [Member] | Card Member Loans [Member]
Financial assets carried at other than fair value
Card Member loans, less reserves for credit losses	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 per Consolidated Balance Sheets	0	0
Other financial assets	12,100	26,200
Financial assets carried at other than fair value
Loans to affiliates and other	5,000	2,800
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	12,600	11,200
Financial liabilities carried at other than fair value
Long-term debt	7,400	13,700
Long-term debt with affiliates	800	9,400
Estimate of Fair Value Measurement [Member] | Level 2 [Member] | Card Member Loans [Member]
Financial assets carried at other than fair value
Card Member loans, less reserves for credit losses	0	0
Estimate of Fair Value Measurement [Member] | 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
Loans to affiliates and other	6,100	7,600
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 with affiliates	0	0
Estimate of Fair Value Measurement [Member] | Level 3 [Member] | Card Member Loans [Member]
Financial assets carried at other than fair value
Card Member loans, less reserves for credit losses	$ 500	$ 700

Fair Value Textuals (Details)

Fair Value Textuals (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Assets measured at fair value for impairment	$ 0	$ 0

Transactions with Affiliates (D

Transactions with Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Loans to affiliates and other	$ 10,890	$ 10,345	$ 14,136
Average interest rate on loans to affiliates and other	1.52%	2.89%	2.79%
Due from affiliates	$ 6	$ 652	$ 210
Restricted cash with affiliates	120	116	93
Short-term debt to affiliates	$ 8,569	$ 6,225	$ 5,899
Average interest rate on short-term debt to affiliates	0.62%	2.33%	2.09%
Maximum month-end level of short-term borrowings during the year	$ 8,622	$ 7,087	$ 14,216
Long-term debt with affiliates	$ 822	$ 9,292	$ 7,523
Average interest rate long-term debt to affiliates	1.65%	3.17%	2.69%
Maximum month-end level of long-term borrowings during the year	$ 3,276	$ 13,391	$ 8,725
Due to affiliates	4,344	2,133	2,869
Maximum month-end level of loans to affiliates during the year	13,959	14,264	14,136
Interest income from affiliates and other	166	332	383
Interest expense to affiliates	75	433	225
Related Party Transaction [Line Items]
Other, net expense	(10)	(81)	(55)
Interest paid on short-term and long-term debt	112	421	198
Related Party [Member]
Related Party Transaction [Line Items]
Other, net expense	$ 2	$ 2	$ 2

Transactions with Affiliates 1

Transactions with Affiliates 1 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Loans to affiliates and other	$ 10,890	$ 10,345	$ 14,136
Collateralized [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	6,400	8,200
American Express Services Europe Limited [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	2,881	4,206
American Express Company [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	2,772	0
American Express Australia Limited [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	1,745	2,052
Amex Global Holdings CV [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	1,430	888
Amex Bank of Canada [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	857	1,587
American Express Company (Mexico) S.A. de C.V. [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	540	534
American Express International, Inc. - Branch - Singapore [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	303	413
American Express Bank (Mexico) S.A. [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	257	404
American Express International (NZ), Inc. [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	56	70
Alpha Card S.C.R.L./C.V.B.A [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	25	120
American Express Saudi Arabia (C) JSC [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other	$ 24	$ 71

Transactions with Affiliates 2

Transactions with Affiliates 2 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Short-term debt to affiliates	$ 8,569	$ 6,225	$ 5,899
American Express Travel Related Services Company, Inc. [Member]
Related Party Transaction [Line Items]
Short-term debt to affiliates	7,073	0
AE Exposure Management Limited [Member]
Related Party Transaction [Line Items]
Short-term debt to affiliates	1,193	5,731
American Express Holdings Netherlands CV [Member]
Related Party Transaction [Line Items]
Short-term debt to affiliates	192	192
Accertify Inc. [Member]
Related Party Transaction [Line Items]
Short-term debt to affiliates	107	82
American Express Swiss Holdings Gmbh [Member]
Related Party Transaction [Line Items]
Short-term debt to affiliates	4	1
American Express Europe LLC [Member]
Related Party Transaction [Line Items]
Short-term debt to affiliates	$ 0	$ 219

Transactions with Affiliates 3

Transactions with Affiliates 3 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Outstanding Balance	$ 7,037	$ 13,469
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Outstanding Balance	$ 822	$ 9,292
Year-End Stated Rate on Debt	0.63%	2.76%
American Express Company [Member] | Maturity November 2023 [Member] | Affiliated Entity [Member]
Related Party Transaction [Line Items]
Outstanding Balance	$ 454	$ 8,959
Year-End Stated Rate on Debt	0.91%	2.85%
Amex Funding Management (Europe) Limited [Member] | Maturity September 2021 [Member] | Affiliated Entity [Member]
Related Party Transaction [Line Items]
Outstanding Balance	$ 368	$ 333
Year-End Stated Rate on Debt	0.28%	0.28%

Transactions with Affiliates Te

Transactions with Affiliates Textuals (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Card Member receivables and loans purchased without recourse from TRS		$ 165,000,000,000	$ 316,000,000,000	$ 299,000,000,000
Participation interest and card member receivables sold to affiliates		12,700,000,000	1,100,000,000	6,200,000,000
Discount revenue earned from purchased Card Member receivables and Card Member loans		584,000,000	1,204,000,000	1,017,000,000
Participation interests in card member receivables purchased		4,200,000,000	8,100,000,000
Related Party Transaction [Line Items]
Loans to affiliates and other		10,890,000,000	10,345,000,000	14,136,000,000
Restricted cash with affiliates		120,000,000	116,000,000	93,000,000
Uncharged servicing fees to affiliates		250,000,000	328,000,000	$ 305,000,000
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Loss reserves		0	0
Collateralized [Member]
Related Party Transaction [Line Items]
Loans to affiliates and other		6,400,000,000	$ 8,200,000,000
Restructuring of Loan Arrangements [Member] | Affiliated Entity [Member]
Related Party Transaction [Line Items]
Amount borrowed from related party	$ 7,100,000,000
Repayment of borrowings from related party	4,700,000,000
Excess deposited with AENB	$ 2,200,000,000	$ 500,000,000

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss - Foreign Currency Translation Adjustment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes in other comprehensive income
Beginning balance	$ 2,587	$ 2,196	$ 1,871
Net change in accumulated other comprehensive loss	(12)	(27)	(62)
Ending balance	2,895	2,587	2,196
Foreign Currency Translation Adjustment [Member]
Changes in other comprehensive income
Beginning balance	(1,087)	(1,060)	(998)
Net translation on investments in foreign operations	119	17	(189)
Net hedges of investments in foreign operations			127
Net hedges of investments in foreign operations	(131)	(44)	127
Net change in accumulated other comprehensive loss	(12)	(27)	(62)
Ending balance	$ (1,099)	$ (1,087)	$ (1,060)

Changes in Accumulated Other _4

Changes in Accumulated Other Comprehensive Loss - Tax Affect Of Foreign Currency Translation Adjustment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net translation on investments in foreign operations	$ 21	$ 5	$ (23)
Net hedges of investments in foreign operations	(41)	(14)
Net hedges of investments in foreign operations			40
Total tax impact	$ (20)	$ (9)	$ 17

Changes in Accumulated Other _5

Changes in Accumulated Other Comprehensive Loss Textuals (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Loss Income (Textuals) [Abstract]
Amount of gain loss reclassified from accumulated other comprehensive income to income	$ 0	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current income tax expense (benefit):
U.S. federal	$ 69	$ 45	$ (14)
U.S. state and local	13	13	(6)
Non-U.S.	182	23	84
Total current income tax expense	264	81	64
Deferred income tax expense (benefit):
U.S. federal	(135)	11	(28)
U.S. state and local	(4)	0	1
Non-U.S.	(4)	2	(8)
Total deferred income tax expense (benefit)	(143)	13	(35)
Total income tax expense	$ 121	$ 94	$ 29

Income Taxes 1 (Details)

Income Taxes 1 (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective tax rate reconciliation
U.S. statutory federal income tax rate	21.00%	21.00%	21.00%
Increase (decrease) in taxes resulting from:
State and local income taxes, net of federal benefit	2.50%	0.80%	(0.40%)
Non-U.S. subsidiaries earnings	14.90%	(3.70%)	(8.70%)
Tax settlements	(0.90%)	0.00%	0.00%
U.S. Tax Act	0.00%	0.00%	(5.60%)
Other	0.10%	0.30%	0.70%
Actual tax rate	37.60%	18.40%	7.00%

Income Taxes 2 (Details)

Income Taxes 2 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Reserves not yet deducted for tax purposes	$ 26	$ 29
State income taxes	10	9
Foreign exchange loss	41	32
Deferred tax attributes	110	15
Other	11	10
Gross deferred tax assets	198	95
Deferred tax liabilities:
Investment in foreign subsidiaries	83	74
Gross deferred tax liabilities	83	74
Net deferred tax assets	$ 115	$ 21

Income Taxes 3 (Details)

Income Taxes 3 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, January 1	$ 60	$ 53	$ 24
Increases:
Current year tax positions	4	5	4
Tax positions related to prior years	37	4	26
Effects of foreign currency translation	1	0	0
Decreases:
Settlements with tax authorities	(3)	0	0
Lapse of statute of limitations	(1)	(2)	(1)
Balance, December 31	$ 98	$ 60	$ 53

Income Taxes 4 (Details)

Income Taxes 4 (Details) $ in Millions	Dec. 31, 2020USD ($)
Income Tax Disclosure [Abstract]
2021	$ 0
2022 - 2023	6
2024 – 2025	254
2026 and thereafter	181
Total	$ 441

Income Taxes Textuals (Details)

Income Taxes Textuals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
U.S. statutory federal income tax rate	21.00%	21.00%	21.00%
Unrecognized tax benefits	$ 98	$ 60	$ 53	$ 24
Unrecognized tax benefits that effect effective tax rate	15	38	32
Unrecognized tax benefits decrease as a result of potential resolutions of prior years' tax	3
Unrecognized tax benefits income tax penalties and interest expense	130	3	$ 20
Unrecognized tax benefits income tax penalties and interest accrued	170	29
Current federal taxes payable/receivable	380	431
Deemed repatriation tax	441
Income tax paid/refund net	112	$ 359
Twelve Month [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefits that effect effective tax rate	$ 2
Internal Revenue Service (IRS) [Member] | Earliest Year [Member]
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2017
Internal Revenue Service (IRS) [Member] | Latest Year [Member]
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2018

Significant Credit Concentrat_3

Significant Credit Concentrations (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Maximum Credit Exposure by Category
On-balance sheet	$ 24	$ 37
Loans to Affiliates and Other [Member]
Maximum Credit Exposure by Category
On-balance sheet	11	10
Institutions [Member]
Maximum Credit Exposure by Category
On-balance sheet	9	13
Individuals [Member]
Maximum Credit Exposure by Category
On-balance sheet	3	12
Financial Services [Member]
Maximum Credit Exposure by Category
On-balance sheet	1	1
Due from Affiliates [Member]
Maximum Credit Exposure by Category
On-balance sheet	$ 0	$ 1

Significant Credit Concentrat_4

Significant Credit Concentrations 1 (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Maximum Credit Exposure by Category
On-balance sheet	$ 24	$ 37
Card Members Receivables and Loans [Member]
Maximum Credit Exposure by Category
On-balance sheet	13	26
United States [Member] | Card Members Receivables and Loans [Member]
Maximum Credit Exposure by Category
On-balance sheet	8	19
Outside the United States [Member] | Card Members Receivables and Loans [Member]
Maximum Credit Exposure by Category
On-balance sheet	$ 5	$ 7

Geographic Regions (Details)

Geographic Regions (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Revenues and Pretax Income (Loss) by Geographic Location [Line Items]
Revenues	$ 139	$ 76	$ 349	$ 266	$ 377	$ 388	$ 418	$ 432	$ 830	$ 1,615	$ 1,461
Pretax income	$ 120	$ 46	$ 114	$ 42	$ 132	$ 131	$ 130	$ 119	322	512	416
United States [Member]
Segment Revenues and Pretax Income (Loss) by Geographic Location [Line Items]
Revenues									533	1,133	1,033
Pretax income									142	61	28
Outside the United States [Member]
Segment Revenues and Pretax Income (Loss) by Geographic Location [Line Items]
Revenues									297	482	428
Pretax income									$ 180	$ 451	$ 388

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of quarterly financial data
Revenues	$ 139	$ 76	$ 349	$ 266	$ 377	$ 388	$ 418	$ 432	$ 830	$ 1,615	$ 1,461
Pretax income	120	46	114	42	132	131	130	119	322	512	416
Net income	$ 71	$ 26	$ 82	$ 22	$ 93	$ 110	$ 112	$ 103	$ 201	$ 418	$ 387