What is a statement credit and how can you take advantage of it?

Credit card users often encounter statement credits on their bills, which are becoming more common as card issuers offer them to attract new customers or in cases of returned purchases. Statement credits appear as negative transactions in green on online accounts to decrease balances. These credits can appear on accounts from the next day to several weeks later. Common ways to receive statement credits include returns of purchased items, credit card shopping perks that offer cash back at merchants, and credits towards Global Entry or TSA PreCheck application fees. Some cards also offer annual statement credits for eligible travel expenses.