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Acquired Card Receivables
 9 Months Ended
Mar. 31, 2026
Acquired Card Receivables [Abstract]  
Acquired Card Receivables ACQUIRED CARD RECEIVABLES
As of March 31, 2026, approximately $490.8 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 and nine months ended March 31, 2026 and 2025.
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 March 31, 2026 totaled $69.1 million. The Company recognized an immaterial amount of expected credit losses on the card receivables that have not cleared yet as of March 31, 2026.
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):
March 31,
2026		June 30,
2025
Current and less than 30 days past due$819,528 $686,070 
30 ~ 59 days past due5,343 6,173 
60 ~ 89 days past due6,023 5,312 
90 ~ 119 days past due5,165 2,562 
Over 119 days past due1,566 11 
Total$837,625 $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
March 31,		Nine Months Ended
March 31,
2026202520262025
Balance, beginning$19,542 $20,768 $15,020 $20,883 
Provision for expected credit losses12,774 9,299 44,626 34,530 
Charge-off amounts(16,942)(12,173)(49,788)(41,186)
Recoveries collected2,892 2,089 8,408 5,756 
Balance, ending$18,266 $19,983 $18,266 $19,983 
Card receivables acquired from the Issuing Banks were $6.6 billion and $19.4 billion during the three and nine months ended March 31, 2026, respectively, and $5.3 billion and $15.7 billion during the three and nine months ended March 31, 2025, respectively. The provision for expected credit losses related to acquired card receivables increased during the three and nine months ended March 31, 2026 compared to the same prior year period due to portfolio growth, an increase in delinquencies and a release of $5.7 million of the allowance for expected credit losses during the prior year periods due to refinements to the credit loss methodology. The charge-offs related to acquired card receivables increased during the three and nine months ended March 31, 2026 compared to the same prior year period primarily due to portfolio growth.