How Can You Find Your MCC Code?

Paying through credit cards for shopping has become very common today. Most businesses have this payment option and the customers also find it convenient. If you have a business and you want to have credit card payment as an option, you need to apply for the four-digit merchant category code.

How does it work?

This special code identifies the types of goods or services you are providing. So, when a customer makes a purchase, for example, buys milk from a store, the item can be categorized to prepare an itemized statement later on. MCC code also lets the customer get a reward for purchasing certain goods or services from a shop.

Knowing the MCC code can help you in many ways. It will track your purchases and give you rewards, which will eventually save you money. Reading a complete guide to merchant category codes can help you understand these codes more clearly and you can make most use of them.

How can you find the MCC code?

Before going shopping, you must look into the MCC code of the shop you are planning to visit. The IRS provides a complete list of the various MCC codes. The credit card companies also provide their list of codes. So, if you have a VISA card, for example, you can check out the VISA supplier location to find the MCC code. The same store can have multiple MCCs and you can have a look at them too. That way you will know which MCC code represents which item. For MasterCard and American Express cardholders, there is a Quick Reference Booklet where you will find the merchant category codes.

Even after knowing the MCC codes of your favorite business or shop, you can still end up getting no reward for your purchase. This might be because you crossed the reward limit or your application is done by a third party which is deemed to be inappropriate. You can talk to your credit card company to clear up things. This will allow you to use the reward point system to your advantage.

If you can find the MCC for your preferred business, you will be able to shop by making strategic decisions. You will save a lot of money in the long run and utilize your funds in better ways. Shopping can be more enjoyable by learning about the MCC codes of various businesses.