Many purchases fall fairly clearly into particular merchant categories like restaurants or streaming services. That said, it’s a good idea to check your statements to see the rewards you’ve actually earned on a given purchase. This can help you learn how your card categorizes spending, especia...
CREDIT CARD PRODUCT WITH DYNAMIC INTEREST RATE BASED ON BALANCE/SPENDING IN MERCHANT CATEGORIESA method includes establishing a credit account, setting a first interest rate and setting a second interest rate. The first interest rate is applicable to a first category of transactions charged to the ...
Merchants are assigned a merchant category code (MCC) based on the type of products or services they primarily sell. We group similar MCCs into grocery store, wholesale club, and choice categories to help you earn cash back on purchases made at specific merchants. ...
Networks facilitate payment transactions between you and a merchant, charging an “interchange” fee for the service. Issuers are the banks that set the terms and make decisions about your credit card account. Credit card categories Credit card companies are divided into two main categories: networks...
And for the Bank of America® Customized Cash Rewards credit card card, the issuer says: "The Gas category includes purchases in a wide variety of merchant categories including: Automated Fuel Dispensers Fuel Dealers for Coal, Fuel Oil Liquefied Petroleum and Wood Marinas and Marine Service ...
Credit card associations also use merchant category codes to further break down their interchange fees according to business categories (i.e., restaurants, gas stations, general merchandise, etc.). It’s a good idea to familiarize yourself with the underlying interchange fees associated with your bu...
A merchant category code (MCC) is a 4 digit number used to classify businesses by the type of goods and services they offer. The MCC is the main
The Best Card for Your Everyday Spends & Big Purchases Earn 5X CashPoints on EMI spends at merchant locations Earn 1 CashPoint per every Rs.150 on other spends ( Excluding fuel, Wallets loads ) Earn 10X CashPoints on your favourite merchants ( Big Basket, BookMyshow, OYO, Swiggy & Uber ...
Discover it® Student Cash Back:You get bonus cash back after activation in merchant categories that rotate quarterly, up to the quarterly maximum. All other purchases earn unlimited 1% cash back. The card also offers an introductory 0% APR period on purchases to new cardholders. After the ...
2 If the item was bought with a debit card, then the charge cannot be reversed unless the merchant is willing to do so. What’s more, debit card theft victims do not get their refund until an investigation has been completed.3 The credit cardholder, on the other hand, is not ...