Partner credits (billing profile redemption): Cost Analysis shows $0 everywhere

You are seeing the credit balance decrease, while both subscription- and billing-scope Cost Analysis remain at zero, so the credit is active but the usage reporting path is not exposing the underlying charges. Azure credits and Cost Management are separate: credits do not appear as negative costs in Cost Analysis. For an MCA credit resource, first open Cost Management + Billing, select the billing profile, then review Credits > Transactions; that view should show the consumed amount. For resource-level detail, set Cost Analysis to the subscription scope, remove filters, choose Actual cost, and group by Resource. Also request a Cost Details export for the same UTC dates. Allow up to 48 hours and 8–24 hours for later MCA usage. If Transactions show consumption but the Cost Details file is empty after that window, open a billing support case with the billing-profile, credit-resource, and subscription IDs.