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Acquired Card Receivables
 3 Months Ended
Sep. 30, 2025
Acquired Card Receivables [Abstract]  
Acquired Card Receivables ACQUIRED CARD RECEIVABLES
As of September 30, 2025, approximately $475.3 million of the acquired card receivables balance served as collateral for the Company’s borrowings from the Revolving Credit Facilities (as defined below, see Note 7).
The Company incurred losses related to card transactions disputed by spending businesses. The amounts were not material during the three months ended September 30, 2025 and 2024.
The acquired card receivables balances do not include purchases of participation interests in card receivables from the Company's card issuing partner banks (Issuing Banks) that have not cleared at the end of the reporting period. Purchases of participation interests in card receivables that have not cleared as of September 30, 2025 totaled $91.8 million. The Company recognized an immaterial amount of expected credit losses on the card receivables that have not cleared yet as of September 30, 2025.
Credit Quality Information
The Company regularly reviews collection experience, delinquencies, and net charge-offs in determining allowance for expected credit losses related to acquired card receivables. Historical collections rates have shown that days past due is the primary indicator of the likelihood of loss. The Company uses the delinquency trends or past due status of the acquired card receivables as the credit quality indicator. Acquired card receivables are considered past due if full payment is not received on the bill date or within a grace period, which is generally limited to five days. Below is a summary of the acquired card receivables by class (i.e., past due status) as of the dates presented (in thousands):
September 30,
2025		June 30,
2025
Current and less than 30 days past due$739,963 $686,070 
30 ~ 59 days past due5,837 6,173 
60 ~ 89 days past due4,647 5,312 
90 ~ 119 days past due3,522 2,562 
Over 119 days past due13 11 
Total$753,982 $700,128 
Allowance for Expected Credit Losses
Below is a summary of the changes in allowance for expected credit losses (in thousands):
Three Months Ended
September 30,
20252024
Balance, beginning$15,020 $20,883 
Provision for expected credit losses12,194 15,171 
Charge-off amounts(14,648)(13,028)
Recoveries collected2,651 1,842 
Balance, ending$15,217 $24,868 
Card receivables acquired from the Issuing Banks were $6.2 billion and $5.2 billion during the three months ended September 30, 2025 and 2024, respectively. The provision for expected credit losses related to acquired card receivables decreased during the three months ended September 30, 2025 compared to the same prior year periods due to improvements in delinquency performance, which was offset by portfolio growth. The charge-off amounts related to acquired card receivables increased during the three months ended September 30, 2025 compared to the same prior year period due to portfolio growth.