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Delinquencies
Delinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when
contractual payments on the loan become 30 days past due.
The following table presents the amounts and delinquency rates of key loan products that are 30 and 90 days or
more delinquent, loan receivables that are not accruing interest, regardless of delinquency and restructured loans
(dollars in millions):
Calendar Years Ended
December 31, Fiscal Years Ended November 30, One Month
Ended
December 31,
2012
2014 2013 2012 2011 2010
$ % $ % $ % $ % $ % $ %
Loans 30 days delinquent or
more:
Credit card loans................ $ 971 1.73% $ 912 1.72% $ 925 1.86% $1,117 2.38% $1,831 4.02% $ 917 1.79%
Personal loans.................... $ 40 0.79% $ 29 0.70% $ 25 0.76% $ 22 0.87% $ 29 1.57% $ 26 0.77%
Private student loans
(excluding PCI(1))............... $ 87 1.80% $ 66 1.66% $ 32 1.07% $ 13 0.63% $ 5 0.50% $ 37 1.22%
Loans 90 days delinquent or
more:
Credit card loans................ $ 480 0.85% $ 447 0.84% $ 451 0.91% $ 560 1.19% $ 958 2.11% $ 460 0.90%
Personal loans.................... $ 11 0.22% $ 8 0.21% $ 8 0.23% $ 7 0.28% $ 11 0.57% $ 8 0.23%
Private student loans
(excluding PCI(1))............... $ 25 0.52% $ 18 0.46% $ 8 0.27% $ 3 0.14% $ 1 0.14% $ 9 0.29%
Loans not accruing interest ...... $ 183 0.28% $ 200 0.33% $ 198 0.35% $ 207 0.40% $ 326 0.67% $ 192 0.33%
Restructured loans:
Credit card loans(2) ............. $1,037 1.85% $1,123 2.11% $1,332 2.68% $1,217 2.59% $ 305 0.67% $1,309 2.56%
Personal loans(3) ................. $ 55 1.10% $ 31 0.74% $ 21 0.64% $ 8 0.29% $ — —% $ 21 0.65%
Private student loans
(excluding PCI(1))(4) ............ $ 38 0.78% $ 28 0.71% $ 15 0.50% $ 5 0.26% $ — —% $ 16 0.53%
(1) Excludes PCI loans which are accounted for on a pooled basis. Since a pool is accounted for as a single asset with a single composite interest rate and aggregate
expectation of cash flows, the past-due status of a pool, or that of the individual loans within a pool, is not meaningful. Because we are recognizing interest income
on a pool of loans, it is all considered to be performing.
(2) Restructured loans include $44 million, $43 million, $54 million, $56 million, $38 million and $35 million at December 31, 2014, 2013 and 2012 and
November 30, 2012, 2011 and 2010, respectively, that are also included in loans over 90 days delinquent or more.
(3) Restructured loans include $3 million, $2 million, $2 million and $1 million at December 31, 2014, 2013 and 2012 and November 30, 2012 respectively, that are
also included in loans over 90 days delinquent or more.
(4) Restructured loans include $5 million, $3 million, $2 million and $2 million at December 31, 2014, 2013 and 2012 and November 30, 2012 respectively, that are
also included in loans over 90 days delinquent or more.
Credit card receivables 30-day and 90-day delinquency rates at December 31, 2014 were relatively flat as
compared to December 31, 2013. The 30-day delinquency rate for personal loans increased slightly for the same
period due to seasoning of the loan portfolio, while the 90-day delinquency rate remained relatively flat. The 30-day
and 90-day delinquency rates for private student loan balances at December 31, 2014 increased compared to the
prior year as a result of continued seasoning of the student loan portfolio.
Both credit card and personal loan receivables 30-day and 90-day delinquency rates at December 31, 2013
decreased slightly as compared to December 31, 2012 due to continuing favorable economic factors. The delinquency
rates for private student loan balances at December 31, 2013 increased as compared to December 31, 2012 due to
the seasoning of our loan portfolio as more loans have entered repayment.
The restructured credit card loan balance decreased at both December 31, 2014 as compared to December 31,
2013 and at December 31, 2013 as compared December 31, 2012 due to continued improvement in customer credit
performance. The restructured personal and private student loan balances increased at both December 31, 2014 as