What is a credit?
One credit equates to approximately 10 hours of time on task. For example, if a subject is 6 credits it will take you approximately 60 hours to complete, including research and writing of assignments. On average students should study between 8-10 hours per week. This would make a 6 credit subject 6 weeks long.
A credit is a refund issued by you, the merchant, to a customer due to a return, data entry error or cancellation of a sale. You should perform a credit when a customer returns product or cancels a sale and requests a refund on the amount of the return. Note: You are not required to issue a credit. Even if you return policy is not to issue credits, your customer has the right to seek reimbursement through chargeback procedures. If your business incurs excessive chargebacks, you may be required to pay additional fees and in extreme cases, have your right to accept Visa or MasterCard revoked. Thus, a refund to one dissatisfied customer may be better that a potential chargeback.
