Acquired Card Receivables (Tables)

3 Months Ended

Sep. 30, 2023

Acquired Card Receivables [Abstract]

Schedule of Acquired Card Receivables

Acquired card receivables consisted of the following as of the dates presented (in thousands):

	September 30, 2023		June 30, 2023
Gross amount of acquired card receivables	$	571,340	$	474,148
Less: allowance for credit losses	(18,513)		(15,498)
Total	$	552,827	$	458,650

Summary of Acquired Card Receivables by Class

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, 2023		June 30, 2023
Current and less than 30 days past due	$	559,169	$	463,704
30 ~ 59 days past due	5,196		2,507
60 ~ 89 days past due	3,277		4,544
90 ~ 119 days past due	2,883		3,196
Over 119 days past due	815		197
Total	$	571,340	$	474,148

Summary of Change in Allowance for Credit Losses

Below is a summary of the changes in allowance for credit losses presented (in thousands):

	Three Months Ended September 30,
	2023		2022
Balance, beginning	$	15,498	$	5,414
Initial allowance for credit losses on purchased card receivables with credit deterioration	—		10
Provision for expected credit losses	11,975		6,583
Charge-off amounts	(9,791)		(5,033)
Recoveries collected	831		567
Balance, end of period	$	18,513	$	7,541