|
Credit Card Receivables (Tables)
|
3 Months Ended |
|
Apr. 30, 2011
|
| Credit Card Receivables. |
|
| Age of Credit Card Receivables |
|
|
Age of Credit Card Receivables |
|
April 30, 2011 |
|
January 29, 2011 |
|
May 1, 2010 |
|
|
|
|
|
|
Percent of |
|
|
|
Percent of |
|
|
|
Percent of |
|
|
(dollars in millions) |
|
Amount |
|
Receivables |
|
Amount |
|
Receivables |
|
Amount |
|
Receivables |
|
|
Current |
|
$ |
5,749 |
|
91.5% |
|
$ |
6,132 |
|
89.6 |
% |
$ |
6,425 |
|
88.5% |
|
|
1-29 days past due |
|
227 |
|
3.6 |
|
292 |
|
4.3 |
|
283 |
|
3.9 |
|
|
30-59 days past due |
|
100 |
|
1.6 |
|
131 |
|
1.9 |
|
166 |
|
2.3 |
|
|
60-89 days past due |
|
59 |
|
0.9 |
|
79 |
|
1.1 |
|
107 |
|
1.5 |
|
|
90+ days past due |
|
151 |
|
2.4 |
|
209 |
|
3.1 |
|
279 |
|
3.8 |
|
|
Period-end gross credit card receivables |
|
$ |
6,286 |
|
100% |
|
$ |
6,843 |
|
100 |
% |
$ |
7,260 |
|
100% |
| |
|
| Allowance for Doubtful Accounts |
|
|
Allowance for Doubtful Accounts |
|
|
|
|
|
|
|
|
(millions) |
|
April 30, 2011 |
|
January 29, 2011 |
|
May 1, 2010 |
|
|
Allowance at beginning of period |
|
$ 690 |
|
$ 1,016 |
|
$ 1,016 |
|
|
Bad debt expense |
|
12 |
|
528 |
|
197 |
|
|
Write-offs(a) |
|
(184 |
) |
(1,007 |
) |
(318 |
) |
|
Recoveries(a) |
|
47 |
|
153 |
|
35 |
|
|
Allowance at end of period |
|
$ 565 |
|
$ 690 |
|
$ 930 |
|
(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) |
|
April 30, 2011 |
|
January 29, 2011 |
|
May 1, 2010 |
|
|
Nondelinquent accounts (Current and 1 – 29 days past due) |
|
|
|
|
|
|
|
|
FICO score of 700 or above |
|
$ 2,771 |
|
$ 2,819 |
|
$ 2,812 |
|
|
FICO score of 600 to 699 |
|
2,503 |
|
2,737 |
|
2,861 |
|
|
FICO score below 600 |
|
702 |
|
868 |
|
1,034 |
|
|
Total nondelinquent accounts |
|
5,976 |
|
6,424 |
|
6,707 |
|
|
Delinquent accounts (30+ days past due) |
|
310 |
|
419 |
|
553 |
|
|
Period-end gross credit card receivables |
|
$ 6,286 |
|
$ 6,843 |
|
$ 7,260 |
| |
|
| Information of securitized borrowings |
|
|
Securitized Borrowings |
|
April 30, 2011 |
|
January 29, 2011 |
|
May 1, 2010 |
|
|
|
|
Debt |
|
|
|
Debt |
|
|
|
Debt |
|
|
|
|
(millions) |
|
Balance |
|
Collateral |
|
Balance |
|
Collateral |
|
Balance |
|
Collateral |
|
|
2008 Series(a) |
|
$ |
2,965 |
|
$ |
3,061 |
|
$ |
2,954 |
|
$ |
3,061 |
|
$ |
3,219 |
|
$ |
3,372 |
|
|
2006/2007 Series |
|
1,000 |
|
1,266 |
|
1,000 |
|
1,266 |
|
1,000 |
|
1,266 |
|
|
Total |
|
$ |
3,965 |
|
$ |
4,327 |
|
$ |
3,954 |
|
$ |
4,327 |
|
$ |
4,219 |
|
$ |
4,638 |
|
(a) The debt balance for the 2008 Series is net of a 7% discount from JPMC. The unamortized portion of this discount was $96 million, $107 million and $153 million as of April 30, 2011, January 29, 2011, and May 1, 2010, respectively. |
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