Credits terms

A credit is the unit ProjectX bills in. You hold a balance of credits in your account currency, and everything you run draws that balance down at the published hourly rate for the resource. A credit is a prepayment towards use of the service — it is not money, not a security, and not a deposit held on your behalf.

Credits come two ways: purchased, which you top up when it suits you, and promotional, which ProjectX grants — the bonus on a first deposit, for instance. The two are governed differently where it matters, and this document says where.

Credits pay for the service and are redeemed only against it. A purchased balance is not exchanged back into cash, except where a right to a refund cannot lawfully be excluded — a consumer-law cooling-off right, say, which this document does not purport to remove. Promotional credits carry no cash value at all and are never refundable.

Promotional credits are non-transferable: they are redeemable only by the account they were granted to, and cannot be moved, sold or assigned to another. A promotional grant may carry an expiry, stated when it is granted, after which the unredeemed balance lapses.

A purchased balance does not expire while the account is open. Where the platform permits a transfer of a purchased balance between accounts under the same ownership, that transfer is subject to approval and is recorded — the same transfer rules the product applies, not a looser promise made here.

Where an account holds both, promotional credits are drawn down before purchased ones, so a promotional balance is used while it is valid rather than left to lapse beside a balance that does not expire. On closure of the account, promotional credits are forfeited and any purchased balance is handled under the terms of service.