Knowing your MCCs to Maximize CC Rewards

It’s good to know about MCCs or merchant category codes in order to maximize rewards from credit cards.

Payment brands such as Mastercard, Visa, and Diners Club use merchant category codes in order to classify a business. Banks then use this classification to analyze whether a transaction should be specially handled. For example, a transaction may be classified as cash advance (or quasi-cash transactions) and would thus incur interest. Another transaction may be declined due to restrictions set by your card issuer. For points or miles hoarders like me, the most important function of the MCC is for the implementation of a credit card’s feature or promo.

For example, BDO’s Diners Club Premiere features double miles on dining transactions. Merchant category codes that fall under this would be 5812 (Eating Places and Restaurants), 5813 (Bars, Cocktail Lounges, Discotheques, Nightclubs and Taverns–Drinking Places (Alcoholic Beverages), and 5814 (Fast Food Restaurants). 

Another example of a credit card with built-in points multiplier is Citibank’s Prestige credit card. Unlike Diners Club however, Prestige doesn’t include MCC 5814 or “Fast Food Restaurants” in their multiplier. However, aside from dining transactions, Prestige also has multipliers for shopping transactions. Purchases made under shopping boutiques and department stores will earn 5 times the usual points. This brings the conversion to around PHP 18.00 per mile which is great! Do note however, that grocery stores and supermarkets which fall under MCC 5411 doesn’t seem to be included. Looking at the list of MCCs above, there’s definitely a lot of things to consider. 

Unfortunately, there is one major challenge when it comes to Merchant Category Codes: we are simply unable to find out what the MCC for a specific store is. This is especially problematic for some stores. For example Healthy Options. Which category would they fall in? Specialty store, grocery, or some other category? I’ve tried checking the charge slip but there doesn’t seem to be any indication of the MCC. I’m also not sure if one can find the MCC on a POS. Right now, our best bet would be to do trial and error…

I wonder if we can ask the banks to release a list of specific merchants together with the MCCs they are registered in? This would definitely help a lot in maximizing rewards!