It's a common misconception that the monthly cost of those phones are reduced. However, that is technically not the case. The device cost shown on the website was calcuated after bill credit. The monthly cost of the phone remains the same but customers are getting a credit on their bill to offset the cost of the phone.
The bill credit is applied to the account and does not directly affect the actual monthly financing cost. In your case, the original monthly financing fee of $16.67 and bill credit of $14.67 calculates to $2 per month. However, the monthly financing fee does not actually change.
So the monthly financing for the phone will be $16.67 per month. On your bill, there would also be a credit of $14.67. That's why they stated your bill includes that credit.
Hope this helps 😀