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 consolidated balance sheet:


	Year Ended December 31,
(in millions)	2023		2024		2025
Beginning balance	$	18	$	15	$	14
Provision for credit losses	22		21		28
Write-offs	(25)		(23)		(30)
Recoveries	—		1		4
Ending Balance	$	15	$	14	$	16

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 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 consolidated balance sheet.

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


	Year Ended December 31,
(in millions)	2023		2024		2025
Beginning balance	$	—	$	32	$	40
Opening balance from acquisition of Robinhood Credit	23		—		—
Provision for credit losses	19		40		27
Payments to Coastal Bank	(11)		(34)		(28)
Recoveries	1		2		2
Ending balance	$	32	$	40	$	41


	Year Ended December 31,
(in millions)	2023		2024		2025
Beginning balance	$	—	$	1	$	11
Provision for credit losses	2		15		59
Write-offs	(1)		(5)		(17)
Recoveries	—		—		3
Ending balance	$	1	$	11	$	56

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 and $9 million as of December 31, 2024 and 2025 were not included in the tables below.


(in millions, except for percentages)	December 31, 2024
				Aging of receivables
	Current			<90 Days			≥ 90 days			Total Past due receivables			Total Receivables
On-balance sheet	$	186		$	2		$	1		$	3		$	189
Off-balance sheet	177			15			10			25			202
Total credit card loans	$	363		$	17		$	11		$	28		$	391
% of Total loans	93		%	4		%	3		%	7		%	100		%


(in millions, except for percentages)	December 31, 2025
				Aging of receivables
	Current			<90 Days			≥ 90 days			Total Past due receivables			Total Receivables
On-balance sheet	$	814		$	18		$	8		$	26		$	840
Off-balance sheet	177			15			8			23			200
Total credit card loans	$	991		$	33		$	16		$	49		$	1,040
% of Total loans	95		%	3		%	2		%	5		%	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 2025. We present our receivables by FICO scores.