Merchant Category Codes (MCCs) are four-digit codes that are assigned to merchants by credit card companies in order to classify them into specific categories. These codes are used to determine which merchants are eligible for certain types of credit card processing and to help credit card companies track spending patterns of cardholders. MCCs are used by credit card networks to classify merchants and identify the types of goods and services they provide. This information is used to determine the interchange fees that merchants pay when they accept credit card payments from customers.
Merchant Category Codes (MCCs) are four-digit codes that are assigned to merchants by credit card companies in order to classify them into specific categories. These codes are used to determine which merchants are eligible for certain types of credit card processing and to help credit card companies track spending patterns of cardholders. MCCs are used by credit card networks to classify merchants and identify the types of goods and services they provide. This information is used to determine the interchange fees that merchants pay when they accept credit card payments from customers.
How MCC Codes Can Boost Credit Card Rewards?
MCC codes can be used to boost credit card rewards in several ways:
- Credit card companies often offer bonus rewards for spending in certain categories, such as dining or travel. By using a credit card with bonus rewards in these categories at merchants that have the corresponding MCC codes, cardholders can earn more rewards.
- Some credit card companies offer rewards programs that allow cardholders to choose the categories in which they earn the most rewards. By choosing categories with merchants that have MCC codes that align with their spending habits, cardholders can earn more rewards.
- Some credit cards offer a higher rewards rate for a limited time on certain categories. By using a credit card with a temporary higher rewards rate at merchants that have the corresponding MCC codes, cardholders can earn more rewards.
- Some credit cards offer a feature called "round-up" rewards, where cardholders earn rewards on every purchase based on the difference between the purchase price and the nearest dollar. By using a credit card with round-up rewards at merchants that have MCC codes that align with their spending habits, cardholders can earn more rewards.
By understanding MCC codes and using them to their advantage, credit cardholders can maximize their rewards and get more value from their credit cards.
How to find a business merchant category code?
There are a few ways to find a business's merchant category code:
- Contact the business directly and ask for their MCC. Many businesses are aware of their MCC and will be able to provide it to you.
- Check the business's credit card processing statement. The MCC should be listed on the statement along with other information about the transaction.
- Check with the credit card company. The credit card company should be able to provide you with the MCC for a specific business.
- Search online. Some websites, such as Credit Card Insider, have lists of MCC codes and the corresponding categories. You may be able to find the MCC for a specific business by searching for the business name or category on one of these websites.
Keep in mind that MCCs can change over time, so it's always a good idea to check with the business or the credit card company to ensure that you have the most up-to-date MCC.
