Question 1

What is a statement credit?

Accepted Answer

A statement credit is a certain amount of money your credit card issuer applies to your account. It appears on your statement as a negative number, like a credit card payment.

Question 2

How to use a statement credit?

Accepted Answer

After you return an item or refute a charge, your credit card issuer should automatically add a statement credit to your account. If you're redeeming cash from rewards credit cards, you may have to take some additional steps on your credit card company website or mobile app. To take advantage of your statement credit, you could simply continue using your card as you usually would, the credit should bring down your statement balance. Check your credit card statements for any available credit; this way you don't spend more than you have. If a statement credit is larger than your debt, you might have a negative balance. In that case, you could request the amount from your credit card issuer as a check, money order, or direct deposit.

What is a Statement Credit?

Key Takeaways

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