Company: ATLCL
Filing Date: 2025-03-10
Form Type: CORRESP
Source: 0001437749-25-006744
Chunk: 12

Company: Atlanticus Holdings Corp
Filing Date: 2025-03-10
Form: CORRESP
Chunk 12
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     |     |                  |
| Fees and related income on consumer accounts                                                                       |     | $ | 100 |     |   |     |     |                  |
| Total Revenue                                                                                                      |     | $ | 102 |     |   |     |     |                  |
| Changes in fair value of loans                                                                                     |     | $ |   7 |     |   |     |     |                  |
| Net margin                                                                                                         |     | $ | 109 |     |   |     |     |                  |
| Balance Sheet at period end                                                                                        |     |   |     |     |   |     |     |                  |
| Loans at fair value                                                                                                |     | $ | 144 |     |   |     |     |                  |

As is shown in the above example, the consumer may have several transactions that impact the account during the month and the month end balance is then assessed for fair valued based on the aggregate fair value of the corresponding pool. As mentioned above, while the amounts used in the example above are purely illustrative, our credit card receivables, in the aggregate, are valued in excess of the gross balance of the receivable and, as such, do not incur a negative fair value upon acquisition.

Confidential Treatment Requested by Atlanticus Holdings Corporation
AHC - 008

In future filings, we will modify our disclosure to include the following within our discussion of Management’s Discussion and Analysis of Financial Condition and Results of Operations – Overview:

General Purpose Credit Cards

We work closely with our bank partners to assist them in creating general purpose credit card offers. These offers have varying lines of credit ranging from $350 to $3,000, annual percentage rates (“APRs”) ranging from 19.99% to 36%, annual fees ranging from $0 to $175 and monthly maintenance fees ranging from $0 to $15. Working collaboratively with our bank partners, each offer our bank partners extend to a consumer is tailored based on the consumer’s individual risk profile. These offers include finance and fee structures designed to provide us with an adequate return on invested capital upon acquisition of any associated receivable. As a result, at the time an offer is extended to a consumer, the offer reflects market value and, when combined with other pooled receivables that have similar characteristics, would result in earnings associated with any upfront fees (such as annual or monthly maintenance fees) on the date of acquisition, net of any fair value assessment that may value the receivables at less than the gross