STORE CREDIT Meaning and
Definition
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Store credit refers to a form of currency or credit provided by a retailer to a customer, typically in cases where the customer returns a product and receives credit towards future purchases instead of a refund in cash. It is a type of virtual currency that can only be used within the specific retail store or chain that issued it.
When a customer returns an item to the store, rather than returning the original form of payment, such as cash or credit card refund, the store may offer store credit instead. The value of this credit typically equals the amount of the returned item's purchase price. Store credit is usually issued in the form of a gift card, voucher, or an electronic credit to the customer's account.
The main characteristic of store credit is that it can only be utilized within the same store or chain of stores that provided it. It cannot be redeemed for cash, transferred to another retailer, or used to pay off the original form of payment. It acts as a virtual currency that can only be spent in the issuing retailer's store or website. Store credit is often subject to an expiration date, after which it becomes invalid and cannot be utilized anymore.
Overall, store credit allows customers to make future purchases without using their own money, providing them with the opportunity to exchange unwanted items for something else they desire within the same retail establishment.
Common Misspellings for STORE CREDIT
- atore credit
- ztore credit
- xtore credit
- dtore credit
- etore credit
- wtore credit
- srore credit
- sfore credit
- sgore credit
- syore credit
- s6ore credit
- s5ore credit
- stire credit
- stkre credit
- stlre credit
- stpre credit
- st0re credit
- st9re credit
- stoee credit
- stode credit
Etymology of STORE CREDIT
The etymology of the word "store credit" is derived from two separate origins.
1. Store: The word "store" comes from the Middle English word "stour" which originally meant 'provisions, supplies'. It has roots in the Old French word "estor" meaning 'materials, provisions'. Eventually, it evolved to refer to a place where goods are kept and sold, which is the modern definition of a store.
2. Credit: The word "credit" originates from the Latin word "creditum" which means 'loan, trust, or thing entrusted'. In Latin, "creditum" is the past participle of the verb "credere" which means 'to believe, trust, entrust'. Over time, it came to represent the concept of trust in financial transactions, particularly when someone borrows money with the expectation of repaying it later.
