What is a statement credit?

A statement credit is a type of credit that is applied directly to a customer’s credit card statement. This credit reduces the amount owed on the credit card statement and can be used to pay off the balance. In Indiana, statement credits can be issued in response to a customer complaint about a product or service, as a reward for using a credit card, or as a promotional incentive to encourage customers to use their credit cards. For example, a statement credit may be offered as an incentive to make a purchase with a certain credit card or to pay off the balance of a certain credit card. Statement credits can be issued in the form of cash, a gift card, or other forms of value. Statement credits may also be used to reduce the cost of a product or service, such as a discounted purchase or free shipping. Statement credits can help a consumer reduce their debt over time, as they can use the credit to pay for items they would have otherwise had to pay in full.

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What is a statement credit?

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