Definition
Credit issued by a retailer that allows you to make purchases without using cash or a traditional credit card, often given as a refund or promotion.
What to consider
- Check the expiration and terms before using it.
- Consider it as a bonus rather than extra cash.
- Use it when it aligns with purchases you were already planning.
Real world scenarios
- Gina returns a dress for store credit, planning to use it during the upcoming sale to stretch her dollars further.
- After a holiday exchange, Neil shops for something else using the store credit received, simplifying the return process.
- Comparing store credit to a cash refund, Julie decides store credit is fine if she’ll likely shop there again soon.
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