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ALLOWANCE FOR CREDIT LOSSES
 9 Months Ended
Sep. 30, 2025
Credit Loss [Abstract]  
ALLOWANCE FOR CREDIT LOSSES
NOTE 6: ALLOWANCE FOR CREDIT LOSSES
Allowance for Credit Losses - Brokerage Related
The following table summarizes the brokerage related allowance for credit losses, which is primarily related to fraudulent activities, included in receivables from users, net on the unaudited condensed consolidated balance sheet:
Three Months Ended
September 30,		Nine Months Ended
 September 30,
(in millions)2024202520242025
Beginning balance$15 $20 $15 $14 
Provision for credit losses6 3 16 23 
Write-offs(6)(5)(16)(21)
Recoveries— — — 2 
Ending Balance$15 $18 $15 $18 
Allowance for Credit Losses - Credit Card Related
We have two types of allowance for credit losses related to credit cards: i) an allowance related to off-balance sheet credit card receivables, shown as part of accounts payable and accrued expenses on the unaudited condensed consolidated balance sheet, and ii) an allowance related to purchased credit card receivables and interest receivable from customers, included in receivables from users, net on the unaudited condensed consolidated balance sheet.

The following table summarizes the allowance related to off-balance sheet credit card receivables:

Three Months Ended
September 30,		Nine Months Ended
 September 30,
(in millions)
2024202520242025
Beginning balance$34 $40 $32 $40 
Provision for credit losses11 8 30 22 
Payments to Coastal Bank(8)(7)(26)(22)
Recoveries1 — 2 1 
Ending balance$38 $41 $38 $41 

The following table summarizes the allowance related to purchased credit card receivables and interest receivables from customers:

Three Months Ended
September 30,		Nine Months Ended
 September 30,
(in millions)
2024202520242025
Beginning balance$3 $24 $1 $11 
Provision for credit losses6 15 11 33 
Write-offs
(1)(5)(4)(10)
Recoveries— 2 $— $2 
Ending balance$8 $36 $8 $36 
The following tables present the aging analysis of our credit card receivables for the periods presented and the delinquency aging includes all past due principal on loans. Accrued interest receivable
of $3 million as of December 31, 2024, and $7 million as of September 30, 2025, were not included in the tables below.
(in millions, except for percentages)
December 31, 2024
Aging of receivables
Current<90 Days≥ 90 daysTotal Past due receivablesTotal Receivables
On-balance sheet
$186$2$1$3$189
Off-balance sheet
177151025202
Total credit card loans $363$17$11$28$391
% of Total loans93 %4 %3 %7 %100 %
(in millions, except for percentages)
September 30, 2025
Aging of receivables
Current<90 Days≥ 90 daysTotal Past due receivablesTotal Receivables
On-balance sheet
$517$14$4$18$535
Off-balance sheet
18415823207
Total credit card loans $701$29$12$41$742
% of Total loans94 %4 %2 %6 %100 %
The risk in our credit card receivables portfolio correlates to broad economic trends as well as customers’ financial condition. The key indicator we monitor when assessing the credit quality and risk is customers’ credit scores as they measure the creditworthiness of customers. We use a national third-party provider to update FICO credit scores on a monthly basis. The updated scores are incorporated into a series of credit management reports, which are utilized to monitor risk. The table below presents our credit card receivables by our credit quality indicator, FICO score, including both on-balance sheet and off-balance sheet amounts, as of December 31, 2024 and September 30, 2025. Our receivables by FICO scores:
December 31,September 30,
(in millions, except FICO scores)
2024
% of Total loans
2025
% of Total loans
Below 640$64 16 %$109 15 %
640-690100 26 %190 26 %
Greater than 690227 58 %443 59 %
Total credit card loans $391 100 %$742 100 %