Credit Card Receivables (Tables)

12 Months Ended

Jan. 28, 2012

Credit Card Receivables

Age of Credit Card Receivables

Age of Credit Card Receivables		January 28, 2012					January 29, 2011


(millions)		Amount			Percent of Receivables		Amount			Percent of Receivables

Current		$	5,791		91.1	%	$	6,132		89.6	%
1-29 days past due			260		4.1			292		4.3
30-59 days past due			97		1.5			131		1.9
60-89 days past due			62		1.0			79		1.1
90+ days past due			147		2.3			209		3.1

Period-end gross credit card receivables		$	6,357		100	%	$	6,843		100	%

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts (millions)		2011			2010			2009



Allowance at beginning of period		$	690		$	1,016		$	1,010
Bad debt expense			154			528			1,185
Write-offs (a)			(572	)		(1,007	)		(1,287	)
Recoveries (a)			158			153			108

Allowance at end of period		$	430		$	690		$	1,016

(a): Write-offs include the principal amount of losses (excluding accrued and unpaid finance charges), and recoveries include current period principal collections on previously written-off balances. These amounts combined represent net write-offs.

Receivables Credit Quality

Receivables Credit Quality (millions)		January 28, 2012			January 29, 2011



Nondelinquent accounts (Current and 1-29 days past due)
FICO score of 700 or above		$	2,882		$	2,819
FICO score of 600 to 699			2,463			2,737
FICO score below 600			706			868

Total nondelinquent accounts			6,051			6,424
Delinquent accounts (30+ days past due)			306			419

Period-end gross credit card receivables		$	6,357		$	6,843

Troubled Debt Restructurings

Troubled Debt Restructurings (millions)		2011			2010			2009



Average receivables		$	330		$	445		$	526
Finance charges			20			30			39

Troubled Debt Restructurings Defaulted During the Period

Troubled Debt Restructurings Defaulted During the Period (a) (dollars in millions, contracts in thousands)		2011			2010			2009



Number of contracts			13			28			59
Amount defaulted (b)		$	37		$	96		$	199

(a): Includes loans modified within the twelve months prior to each respective period end.
(b): Represents account balance at the time of default. We define default as not paying the full fixed payment amount for two consecutive billing cycles.

Information of Securitized Borrowings

Securitized Borrowings		January 28, 2012						January 29, 2011


(millions)		Debt Balance			Collateral			Debt Balance			Collateral

2008 Series (a)		$	—		$	—		$	2,954		$	3,061
2006/2007 Series			1,000			1,266			1,000			1,266

Total		$	1,000		$	1,266		$	3,954		$	4,327

(a): The debt balance for the 2008 Series is net of a 7% discount from JPMC. The unamortized portion of this discount was $107 million as of January 29, 2011.