Yes, the Magento 2 Store Credit Extension includes a loyalty program module that allows you to reward loyal customers with store credits.

Read this How to Configure Store Credit Extension in Magento 2 Store? to setup rewards for loyal customers with store credits.

Here are the few more resource to help you get most out of this Magento 2 Store Credit Extension.

• Maximizing revenue with Magento 2 Store Credit Extension
• Raise Loyalty & Returning Visitors with Magento 2 Store Credit Extension
• Store Credit in eCommerce: A Key to Customer Retention