Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
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At O1ne Mortgage, we prioritize educating our clients about consumer credit and finance. This article aims to provide an objective view to help you make informed decisions regarding credit card statement credits. For any mortgage-related needs, feel free to call us at 213-732-3074.
A credit card statement credit is a refund or reward credited to your credit card account, reducing the amount you owe. It typically appears as a negative number on your statement, under “payments and other credits.” This credit can result from a merchandise return, cash back rewards, or other incentives.
There are several scenarios where you might receive a statement credit:
When you return merchandise, many merchants issue a statement credit to the credit card used for the purchase. The receipt will indicate this refund.
If you redeem cash back rewards or convert points into a statement credit, it will appear on your monthly statement, reducing your balance.
Using specific credit card offers for travel, food, or streaming services can earn you a rebate, which appears as a statement credit.
New cardholders who meet spending thresholds within the first few months may receive a welcome bonus in the form of a statement credit.
If the price of a purchased item drops shortly after buying it, you may receive a refund for the difference as a statement credit, provided your card offers price protection or the merchant offers price-matching.
If you dispute a charge, you may receive a temporary credit while the investigation is ongoing. If the dispute is resolved in your favor, the credit becomes permanent.
A statement credit functions similarly to a payment, reducing the amount you owe on your credit card. By strategically using rewards credit cards and taking advantage of welcome bonuses and special offers, you can maximize your financial benefits.
For any mortgage-related inquiries, O1ne Mortgage is here to assist you. Call us at 213-732-3074 to speak with our experts today.
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