As long
as the merchant category code is classified as dining or travel, you should earn double points, but of course, exceptions do apply.
Card companies use what are known
as merchant category codes (MCC) to classify transactions from different retailers.
Every merchant has what is known
as a Merchant Category Code, or MCC, that roughly describes the line of business the company is in.
Not exact matches
The so - called
merchant category code (or MCC) now in effect treats Visa purchases on Coinbase
as cash advances, which come with high fees from banks of
as much 10 %.
After working
as a director and senior
merchant at Victoria's Secret, Michelle Cordeiro Grant wanted to create a new experience and point of view in the lingerie
category, one that delivers simple, quality products and reflects the healthy, confident, and beautiful women wearing them.
You earn 5 % cash back on up to $ 1,500 spent each quarter at select
merchant categories such
as gas stations, grocery stores and drug stores.
Visa ® USA determines which transactions are classified
as gas purchases paid at the pump and supermarket purchases based on
Merchant Category Codes.
This allows
merchants unite CCBill's best - in - class Payments -
as - a-Service solution with SkaDate, a premium partner and fellow 2017 iDate Award finalist in the
category of Best Dating Software Providers.
On the other hand, more specialized
merchants such
as charter flights, private jet operators, camps, and timeshares will fall into the all other
category.
Past
categories have included such common
merchants as gas stations, restaurants, home improvement stores and Amazon.com, so there's a good chance of earning bonus cash back on spending you were going to do anyway.
Some of the best values in the vice sphere are in the «
merchant of death»
category, and the next stock is one that I covered in «Five Smart Money Dividend Stocks»
as a stock owned by Magic Formula guru Joel Greenblatt: defense and aerospace firm Northrop Grumman Corporation ($ NOC).
You'll not only be earning cash back on all of your purchases, but rotating quarterly
categories earn 5 percent cash back at specific
merchants, such
as restaurants, grocery stores, gas stations and warehouse clubs.
Avid gamers will like that GameStop is classified
as a «Video Amusement Game Supplies»
merchant, meaning purchases there fall under the 2x point
category as well.
«In addition to the 1 % cash back, you will also earn 2 % cash back for each $ 1.00 of eligible Net Purchases made at retail establishments that classify their
merchant location for Visa
as a gas station, grocery store or fast food restaurant, on the first $ 600 in spending in these
categories each billing cycle.»
The specific
categories change a bit from year to year, but they always include popular
merchants, such
as restaurants, gas stations, wholesale clubs, grocery stores and more.
HP is one of the select
merchants for computer hardware, software, and cloud computing purchases that can earn 3X points per dollar if you designate it
as your 3X bonus
category.
Most credit cards, including the one we discussed above, will give consumers extra rewards on one or two
merchant categories --- such
as dining, or travel.
«Qualifying Purchases of Gas» are Qualifying Purchases of gasoline at businesses that are included in a
merchant category identified
as primarily selling automobile gasoline to consumers (such
as Shell and Exxon stations).
As with most other credit cards, Citi will be adding bonuses to transactions whose
merchants are coded under the bonus
categories.
This is not
as easy
as it sounds because most
merchant account providers will not allow credit repair — because they consider it to be «high risk,» which they lump in the same
category as vapor cigarettes and tech support services.
In recent years, those
categories have included such common
merchants as gas stations, restaurants and Amazon.com.
Purchases made at
merchants classified by Visa's «
Merchant Category Code» (MCC)
as: (i) «service stations» (MCC 5541) or «automated fuel dispensers» (MCC5542) are «Gas Purchases»; (ii) «grocery stores» (MCC 5411) are «Grocery Purchases»; and (iii) «drug stores & pharmacies» (MCC 5912) are «Drug Store Purchases» («Eligible MCCs»).
They list the following
Merchant Category Codes
as qualifying: 3000, 3001, 3057, 3058, 3063, 3066, 3132, 3174, 3196 or 3256.
Barclaycard and Upromise do not determine and are not responsible for whether
merchants correctly identify themselves and bill transactions
as being made at locations in a particular
category.
The cat food
category is one of the most contested pet care segments at the retail level, with mass
merchants and grocery stores constantly challenging pet stores for position
as the go - to source for feline nutrition products.
Of course, the fact that US Bank advertises Kiva
as one eligible
merchant that's eligible for the «Charity»
category bonus right now doesn't mean they will do so forever, or even that «Charity» will return
as a bonus
category next quarter, since these
categories are regularly changed and reshuffled.
Just how do you know what qualifies
as a
merchant in a bonus
category?
Merchant category codes are four - digit numbers denoting a business type, such
as a gas station or grocery store.
HP is one of the select
merchants for computer hardware, software, and cloud computing purchases that can earn 3X points per dollar if you designate it
as your 3X bonus
category.
Although most gas stations, restaurants, department, toy and game stores will use
merchant category codes selected for this offer, it is possible that some have designated a
merchant category code that is not classified
as such and therefore any purchases made will not qualify for the promotion.
The «Walmart»
category does not include
merchants operating within or on Walmart premises such
as merchants that sell fast food, beauty services, and gas stations that are not Walmart branded.
Even if the
merchant's business seems to be in one of these two
categories, if it is not coded
as such you won't earn the points (and no amount of negotiating will get them to you).
In addition, if you purchase or pay for your internet, cable and satellite television, phone or related services in a
merchant's store that is not classified by the
merchant in the applicable services
category, the purchase or payment will not qualify; for example, phone bill payments in a
merchant's store that is classified
as a telephone equipment store.
The NHL card earns 1.0 percent back on every purchase
as well
as an extra 5.0 percent on rotating
merchant categories each quarter throughout the year.
Merchants qualifying for the accelerated earn rate: The accelerated earn rate applies to purchases made at American Express merchants in the Gas, Grocery, Dining and Entertainment categories, classified in the American Express network as: Gas Service Stations (with or without Ancillary Services and with Merchant Code: 5541) and Automated Fuel Dispensers (Merchant Code: 5542); Grocery Stores and Supermarkets (Merchant Code: 5411); Eating Places and Restaurants (Merchant Code: 5812); Drinking Places (Alcoholic Beverages) including Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques (Merchant Code: 5813); Fast Food Restaurants (Merchant Code: 5814); Entertainment including Motion Picture Theaters (Merchant Code: 7832), Theatrical Producers (except Motion Pictures) and Ticket Agencies (Merchant Code: 7922), Bands, Orchestras and Miscellaneous Entertainers - Not Elsewhere Classified (Merchant Cod
Merchants qualifying for the accelerated earn rate: The accelerated earn rate applies to purchases made at American Express
merchants in the Gas, Grocery, Dining and Entertainment categories, classified in the American Express network as: Gas Service Stations (with or without Ancillary Services and with Merchant Code: 5541) and Automated Fuel Dispensers (Merchant Code: 5542); Grocery Stores and Supermarkets (Merchant Code: 5411); Eating Places and Restaurants (Merchant Code: 5812); Drinking Places (Alcoholic Beverages) including Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques (Merchant Code: 5813); Fast Food Restaurants (Merchant Code: 5814); Entertainment including Motion Picture Theaters (Merchant Code: 7832), Theatrical Producers (except Motion Pictures) and Ticket Agencies (Merchant Code: 7922), Bands, Orchestras and Miscellaneous Entertainers - Not Elsewhere Classified (Merchant Cod
merchants in the Gas, Grocery, Dining and Entertainment
categories, classified in the American Express network
as: Gas Service Stations (with or without Ancillary Services and with
Merchant Code: 5541) and Automated Fuel Dispensers (
Merchant Code: 5542); Grocery Stores and Supermarkets (
Merchant Code: 5411); Eating Places and Restaurants (
Merchant Code: 5812); Drinking Places (Alcoholic Beverages) including Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques (
Merchant Code: 5813); Fast Food Restaurants (
Merchant Code: 5814); Entertainment including Motion Picture Theaters (
Merchant Code: 7832), Theatrical Producers (except Motion Pictures) and Ticket Agencies (
Merchant Code: 7922), Bands, Orchestras and Miscellaneous Entertainers - Not Elsewhere Classified (
Merchant Code: 7929).
The Accelerated Earn Rate for the Scotiabank Passport Visa Infinite Account applies to the first $ 50,000 in purchases charged to that Account annually at
merchants qualifying for the Accelerated Earn Rate (under the
categories of grocery stores and dining, entertainment and daily transit purchases
as more particularly described above), with the annual period calculated on a 12 - month basis.
See the
Merchant Categories below for further details on what qualifies in these categories based on the applicable merchant code as classified under the Visa credit card n
Merchant Categories below for further details on what qualifies in these categories based on the applicable merchant code as classified under the Visa credit card
Categories below for further details on what qualifies in these
categories based on the applicable merchant code as classified under the Visa credit card
categories based on the applicable
merchant code as classified under the Visa credit card n
merchant code
as classified under the Visa credit card network).
This card is substantially the same
as the personal version but earns 2X on select business
categories including telecommunications, car rental
merchants and gas stations.
Discover offers a credit card cash that pays 5 percent bonus for everyday purchases at select
merchants in popular
categories such
as gasoline stations, grocery stores and drugstores, online shopping, bookstores and music.
The specific
categories change a bit from year to year, but they always include popular
merchants, such
as restaurants, gas stations, wholesale clubs, grocery stores and more.
Purchases at
merchants where these
categories are not their primary business such
as general merchandise retailers do not qualify.
Often, it is obvious when a particular
merchant qualifies
as a bonus
category.
Unlike a loyalty credit card, such
as Rogers» or AT&T's, this benefit applies to any purchases of those services —
as long
as it rings up under the
merchant code Chase uses for that
category.
The Ink Bold Business Card offers a 5X bonus for «
merchants that classify their
merchant location for Visa / MasterCard in any of the following
categories: wireless / telecommunicatioins services (excluding equipment such
as phones and fax machines), cable and satellite television and radio services...» so you want to make sure you're getting the full benefit of this 4X bonus
as soon
as possible after receiving and activating your card.
This technique, known
as «manufactured spending,» can help you meet the sign - up bonus spending requirements on a new card and earn more points on everyday spending by shifting spending to particular
merchants that qualify for
category bonuses.
Earning points is more complex, often with bonuses for spending at certain kinds of
merchants (known
as «
category bonuses»).
Furthermore, smaller retailers may not accept Amex (the
merchant fees that businesses pay are higher for American Express cards than for Mastercard and Visa), and the variable cash - back rates and capped
categories aren't
as simple
as the rewards for our top pick, which will earn nearly
as much cash for most households.
Past
categories have included such common
merchants as gas stations, restaurants, home improvement stores and Amazon.com, so there's a good chance of earning bonus cash back on spending you were going to do anyway.
Grocery Store Purchases are purchases made at
merchants classified by Mastercard's «
Merchant Category Code»
as «grocery stores and supermarkets» (MCC 5411).
In February, digital exchange Coinbase warned customers that, due to changes to the
Merchant Category Code (MCC), credit card companies, such
as Visa, can charge additional «cash advance» fees on crypto purchases.