Credit-back

The action or process of returning funds, points, or value to a customer's account or ledger, often as a result of a returned purchase, a billing error, a promotional offer, or a refund. This typically involves decreasing the amount owed by the customer or increasing the amount of funds available to them. The term is commonly used in retail, finance, and online services and can refer to both the mechanism itself and the resulting credit or refund received by the customer.

Credit-back meaning with examples

• After returning the damaged appliance, I expected a credit-back to my credit card. The store confirmed they initiated the process, so I'll see the funds reflected in my statement within a few days, reducing my outstanding balance. This credit-back was a welcomed solution to the faulty product issue.
• The airline issued a credit-back for the cancelled flight. I can use it for future travel. While not an immediate refund, it provides flexibility for booking a different itinerary. Receiving this credit-back helps mitigate the inconvenience caused by the disruption and allows me to reschedule my trip.
• Due to an incorrect charge, I requested a credit-back from my mobile carrier. After verifying my account, they promptly processed the credit, and I was notified of the adjustment to my next bill. The accurate credit-back ensured fair billing, preserving my confidence in their service.
• As part of the loyalty program, a credit-back was applied to my account for every purchase made during the promotional period. This credit-back, accumulating over time, offers significant savings. This reward incentivizes repeat purchases and creates a more beneficial customer experience.
• Upon finding a duplicate charge, I immediately contacted my bank for a credit-back. They investigated the claim, reversed the transaction, and restored the funds to my account promptly. Getting the quick credit-back was an effortless process, proving the bank's effective consumer protections.