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How do credit card companies know what type of business I'm paying for?
How do credit card companies make profit?How do credit card balances relate to getting a Mortgage?How do credit card companies track your purchase categories?How will using a credit card for daily expenses instead of my debit card affect me?Credit Card with rewards pointsTo prevent credit score decreases, what are the optimal frequency and number of credit card applications in Canada?non-existant credit history. What are the best practices for credit scores?How to properly use a credit cardHow do I make payments, or how should I make payments, on a credit card?
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Credits cards have many different ways of offering you points on types of goods or services you pay for. How do they know if I'm buying, say, food or gas?
There are so many different different businesses around; how would a credit card company know to not award me food points when paying for laundry at a laundry mat?
credit-card tracking points
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
add a comment
|
Credits cards have many different ways of offering you points on types of goods or services you pay for. How do they know if I'm buying, say, food or gas?
There are so many different different businesses around; how would a credit card company know to not award me food points when paying for laundry at a laundry mat?
credit-card tracking points
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
3
There is a bunch of info that the merchant sends along with the card number and price when they submit the transaction. Depending on the card and the merchant, it can be very detailed.
– zeta-band
Jun 13 at 19:19
add a comment
|
Credits cards have many different ways of offering you points on types of goods or services you pay for. How do they know if I'm buying, say, food or gas?
There are so many different different businesses around; how would a credit card company know to not award me food points when paying for laundry at a laundry mat?
credit-card tracking points
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
Credits cards have many different ways of offering you points on types of goods or services you pay for. How do they know if I'm buying, say, food or gas?
There are so many different different businesses around; how would a credit card company know to not award me food points when paying for laundry at a laundry mat?
credit-card tracking points
credit-card tracking points
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
edited Jun 14 at 16:46
Conor Patrick
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
asked Jun 13 at 4:12
Conor PatrickConor Patrick
2372 silver badges7 bronze badges
2372 silver badges7 bronze badges
3
There is a bunch of info that the merchant sends along with the card number and price when they submit the transaction. Depending on the card and the merchant, it can be very detailed.
– zeta-band
Jun 13 at 19:19
add a comment
|
3
There is a bunch of info that the merchant sends along with the card number and price when they submit the transaction. Depending on the card and the merchant, it can be very detailed.
– zeta-band
Jun 13 at 19:19
3
3
There is a bunch of info that the merchant sends along with the card number and price when they submit the transaction. Depending on the card and the merchant, it can be very detailed.
– zeta-band
Jun 13 at 19:19
There is a bunch of info that the merchant sends along with the card number and price when they submit the transaction. Depending on the card and the merchant, it can be very detailed.
– zeta-band
Jun 13 at 19:19
add a comment
|
2 Answers
2
active
oldest
votes
They Do this using the Merchant Category Code. See https://en.wikipedia.org/wiki/Merchant_category_code.
This is assigned to the merchant when they sign up with the bank that is going to handle their payments.
And this code will be part of the meta-data that gets associated with the transaction that you do.
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
7
Current Visa documentation, just for reference.
– Bobson
Jun 13 at 13:16
2
So if you're wondering whether a store is eligible for a promotion, you can try asking your card issuer what MCCs are included, then ask the the store what their MCC is. I wouldn't imagine most clerks know what their MCC is, though.
– Acccumulation
Jun 13 at 20:54
1
It's a fascinating and oddly arbitrary list, based on the link in the wiki page. Some categories seem to have multiple entries for some reason, and a lot of well known companies have their own exclusive MCC, but also quite a few I've never heard of.
– Crazymoomin
Jun 14 at 10:56
1
@Crazymoomin There is even an entry for the long defunct national airline of my country. :D
– Nobody
Jun 16 at 7:46
add a comment
|
They don't (through this route at least) know what you're buying, just where. So if you go to your gas station and buy food and no fuel it will display just the same as if you bought fuel. I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries ("Grocery Stores, Supermarkets") but the petrol station*
on the same site is "Service Stations (with or without Ancillary Products)".
Companies sometimes try to use this field to enforce expense policies (like "no alcohol on expenses", "fuel only to be bought on the fuel card in the car, not your company credit card") but this causes problems for legitimate purchases (like buying sandwiches at a petrol station - the card is meant to buy food when travelling, but it looks like you bought fuel) without preventing illegitimate purchases (buy a cheap meal and an expensive bottle of wine in a supermarket). It's mainly useful for you to work out where a transaction you forgot about took place
* UK terminology
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
I would say that buying sandwiches on a fuel card isn't a legitimate purchase. A fuel card is probably only going to be valid at outside, automated pumps (Automated Fuel Dispensers), and not for any use inside.
– Bobson
Jun 13 at 13:16
1
@Bobson you can't, you can only buy fuel on such a card. I'll try to clarify in the answer, but I meant using the card meant for subsistence as intended, but because food isn't the retailer's main business it looks wrong.
– Chris H
Jun 13 at 13:21
9
Some retailers do tell the card provider exactly what you’re buying; this is level 3 card transaction data.
– Stephen Kitt
Jun 13 at 14:08
2
Oh, OK, I didn’t get that restriction from the question ;-). (I get credit card statements with purchase summaries corresponding to L3 data, incidentally.)
– Stephen Kitt
Jun 13 at 14:36
2
"I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries" I think the one consistent thing is, it's not consistent. Some bigger retailers (i.e. Target) will use a different MCC for the POS in the electronics department or the in-store pharmacy vs the front registers, others don't. The inconsistency is really frustrating if you're trying to model this data in bulk.
– dwizum
Jun 14 at 17:04
|
show 2 more comments
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2 Answers
2
active
oldest
votes
2 Answers
2
active
oldest
votes
active
oldest
votes
active
oldest
votes
They Do this using the Merchant Category Code. See https://en.wikipedia.org/wiki/Merchant_category_code.
This is assigned to the merchant when they sign up with the bank that is going to handle their payments.
And this code will be part of the meta-data that gets associated with the transaction that you do.
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
7
Current Visa documentation, just for reference.
– Bobson
Jun 13 at 13:16
2
So if you're wondering whether a store is eligible for a promotion, you can try asking your card issuer what MCCs are included, then ask the the store what their MCC is. I wouldn't imagine most clerks know what their MCC is, though.
– Acccumulation
Jun 13 at 20:54
1
It's a fascinating and oddly arbitrary list, based on the link in the wiki page. Some categories seem to have multiple entries for some reason, and a lot of well known companies have their own exclusive MCC, but also quite a few I've never heard of.
– Crazymoomin
Jun 14 at 10:56
1
@Crazymoomin There is even an entry for the long defunct national airline of my country. :D
– Nobody
Jun 16 at 7:46
add a comment
|
They Do this using the Merchant Category Code. See https://en.wikipedia.org/wiki/Merchant_category_code.
This is assigned to the merchant when they sign up with the bank that is going to handle their payments.
And this code will be part of the meta-data that gets associated with the transaction that you do.
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
7
Current Visa documentation, just for reference.
– Bobson
Jun 13 at 13:16
2
So if you're wondering whether a store is eligible for a promotion, you can try asking your card issuer what MCCs are included, then ask the the store what their MCC is. I wouldn't imagine most clerks know what their MCC is, though.
– Acccumulation
Jun 13 at 20:54
1
It's a fascinating and oddly arbitrary list, based on the link in the wiki page. Some categories seem to have multiple entries for some reason, and a lot of well known companies have their own exclusive MCC, but also quite a few I've never heard of.
– Crazymoomin
Jun 14 at 10:56
1
@Crazymoomin There is even an entry for the long defunct national airline of my country. :D
– Nobody
Jun 16 at 7:46
add a comment
|
They Do this using the Merchant Category Code. See https://en.wikipedia.org/wiki/Merchant_category_code.
This is assigned to the merchant when they sign up with the bank that is going to handle their payments.
And this code will be part of the meta-data that gets associated with the transaction that you do.
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
They Do this using the Merchant Category Code. See https://en.wikipedia.org/wiki/Merchant_category_code.
This is assigned to the merchant when they sign up with the bank that is going to handle their payments.
And this code will be part of the meta-data that gets associated with the transaction that you do.
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
answered Jun 13 at 6:50
Yogesh_DYogesh_D
6263 silver badges3 bronze badges
6263 silver badges3 bronze badges
7
Current Visa documentation, just for reference.
– Bobson
Jun 13 at 13:16
2
So if you're wondering whether a store is eligible for a promotion, you can try asking your card issuer what MCCs are included, then ask the the store what their MCC is. I wouldn't imagine most clerks know what their MCC is, though.
– Acccumulation
Jun 13 at 20:54
1
It's a fascinating and oddly arbitrary list, based on the link in the wiki page. Some categories seem to have multiple entries for some reason, and a lot of well known companies have their own exclusive MCC, but also quite a few I've never heard of.
– Crazymoomin
Jun 14 at 10:56
1
@Crazymoomin There is even an entry for the long defunct national airline of my country. :D
– Nobody
Jun 16 at 7:46
add a comment
|
7
Current Visa documentation, just for reference.
– Bobson
Jun 13 at 13:16
2
So if you're wondering whether a store is eligible for a promotion, you can try asking your card issuer what MCCs are included, then ask the the store what their MCC is. I wouldn't imagine most clerks know what their MCC is, though.
– Acccumulation
Jun 13 at 20:54
1
It's a fascinating and oddly arbitrary list, based on the link in the wiki page. Some categories seem to have multiple entries for some reason, and a lot of well known companies have their own exclusive MCC, but also quite a few I've never heard of.
– Crazymoomin
Jun 14 at 10:56
1
@Crazymoomin There is even an entry for the long defunct national airline of my country. :D
– Nobody
Jun 16 at 7:46
7
7
Current Visa documentation, just for reference.
– Bobson
Jun 13 at 13:16
Current Visa documentation, just for reference.
– Bobson
Jun 13 at 13:16
2
2
So if you're wondering whether a store is eligible for a promotion, you can try asking your card issuer what MCCs are included, then ask the the store what their MCC is. I wouldn't imagine most clerks know what their MCC is, though.
– Acccumulation
Jun 13 at 20:54
So if you're wondering whether a store is eligible for a promotion, you can try asking your card issuer what MCCs are included, then ask the the store what their MCC is. I wouldn't imagine most clerks know what their MCC is, though.
– Acccumulation
Jun 13 at 20:54
1
1
It's a fascinating and oddly arbitrary list, based on the link in the wiki page. Some categories seem to have multiple entries for some reason, and a lot of well known companies have their own exclusive MCC, but also quite a few I've never heard of.
– Crazymoomin
Jun 14 at 10:56
It's a fascinating and oddly arbitrary list, based on the link in the wiki page. Some categories seem to have multiple entries for some reason, and a lot of well known companies have their own exclusive MCC, but also quite a few I've never heard of.
– Crazymoomin
Jun 14 at 10:56
1
1
@Crazymoomin There is even an entry for the long defunct national airline of my country. :D
– Nobody
Jun 16 at 7:46
@Crazymoomin There is even an entry for the long defunct national airline of my country. :D
– Nobody
Jun 16 at 7:46
add a comment
|
They don't (through this route at least) know what you're buying, just where. So if you go to your gas station and buy food and no fuel it will display just the same as if you bought fuel. I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries ("Grocery Stores, Supermarkets") but the petrol station*
on the same site is "Service Stations (with or without Ancillary Products)".
Companies sometimes try to use this field to enforce expense policies (like "no alcohol on expenses", "fuel only to be bought on the fuel card in the car, not your company credit card") but this causes problems for legitimate purchases (like buying sandwiches at a petrol station - the card is meant to buy food when travelling, but it looks like you bought fuel) without preventing illegitimate purchases (buy a cheap meal and an expensive bottle of wine in a supermarket). It's mainly useful for you to work out where a transaction you forgot about took place
* UK terminology
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
I would say that buying sandwiches on a fuel card isn't a legitimate purchase. A fuel card is probably only going to be valid at outside, automated pumps (Automated Fuel Dispensers), and not for any use inside.
– Bobson
Jun 13 at 13:16
1
@Bobson you can't, you can only buy fuel on such a card. I'll try to clarify in the answer, but I meant using the card meant for subsistence as intended, but because food isn't the retailer's main business it looks wrong.
– Chris H
Jun 13 at 13:21
9
Some retailers do tell the card provider exactly what you’re buying; this is level 3 card transaction data.
– Stephen Kitt
Jun 13 at 14:08
2
Oh, OK, I didn’t get that restriction from the question ;-). (I get credit card statements with purchase summaries corresponding to L3 data, incidentally.)
– Stephen Kitt
Jun 13 at 14:36
2
"I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries" I think the one consistent thing is, it's not consistent. Some bigger retailers (i.e. Target) will use a different MCC for the POS in the electronics department or the in-store pharmacy vs the front registers, others don't. The inconsistency is really frustrating if you're trying to model this data in bulk.
– dwizum
Jun 14 at 17:04
|
show 2 more comments
They don't (through this route at least) know what you're buying, just where. So if you go to your gas station and buy food and no fuel it will display just the same as if you bought fuel. I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries ("Grocery Stores, Supermarkets") but the petrol station*
on the same site is "Service Stations (with or without Ancillary Products)".
Companies sometimes try to use this field to enforce expense policies (like "no alcohol on expenses", "fuel only to be bought on the fuel card in the car, not your company credit card") but this causes problems for legitimate purchases (like buying sandwiches at a petrol station - the card is meant to buy food when travelling, but it looks like you bought fuel) without preventing illegitimate purchases (buy a cheap meal and an expensive bottle of wine in a supermarket). It's mainly useful for you to work out where a transaction you forgot about took place
* UK terminology
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
I would say that buying sandwiches on a fuel card isn't a legitimate purchase. A fuel card is probably only going to be valid at outside, automated pumps (Automated Fuel Dispensers), and not for any use inside.
– Bobson
Jun 13 at 13:16
1
@Bobson you can't, you can only buy fuel on such a card. I'll try to clarify in the answer, but I meant using the card meant for subsistence as intended, but because food isn't the retailer's main business it looks wrong.
– Chris H
Jun 13 at 13:21
9
Some retailers do tell the card provider exactly what you’re buying; this is level 3 card transaction data.
– Stephen Kitt
Jun 13 at 14:08
2
Oh, OK, I didn’t get that restriction from the question ;-). (I get credit card statements with purchase summaries corresponding to L3 data, incidentally.)
– Stephen Kitt
Jun 13 at 14:36
2
"I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries" I think the one consistent thing is, it's not consistent. Some bigger retailers (i.e. Target) will use a different MCC for the POS in the electronics department or the in-store pharmacy vs the front registers, others don't. The inconsistency is really frustrating if you're trying to model this data in bulk.
– dwizum
Jun 14 at 17:04
|
show 2 more comments
They don't (through this route at least) know what you're buying, just where. So if you go to your gas station and buy food and no fuel it will display just the same as if you bought fuel. I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries ("Grocery Stores, Supermarkets") but the petrol station*
on the same site is "Service Stations (with or without Ancillary Products)".
Companies sometimes try to use this field to enforce expense policies (like "no alcohol on expenses", "fuel only to be bought on the fuel card in the car, not your company credit card") but this causes problems for legitimate purchases (like buying sandwiches at a petrol station - the card is meant to buy food when travelling, but it looks like you bought fuel) without preventing illegitimate purchases (buy a cheap meal and an expensive bottle of wine in a supermarket). It's mainly useful for you to work out where a transaction you forgot about took place
* UK terminology
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
They don't (through this route at least) know what you're buying, just where. So if you go to your gas station and buy food and no fuel it will display just the same as if you bought fuel. I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries ("Grocery Stores, Supermarkets") but the petrol station*
on the same site is "Service Stations (with or without Ancillary Products)".
Companies sometimes try to use this field to enforce expense policies (like "no alcohol on expenses", "fuel only to be bought on the fuel card in the car, not your company credit card") but this causes problems for legitimate purchases (like buying sandwiches at a petrol station - the card is meant to buy food when travelling, but it looks like you bought fuel) without preventing illegitimate purchases (buy a cheap meal and an expensive bottle of wine in a supermarket). It's mainly useful for you to work out where a transaction you forgot about took place
* UK terminology
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
edited Jun 13 at 13:22
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
answered Jun 13 at 12:36
Chris HChris H
1,3286 silver badges13 bronze badges
1,3286 silver badges13 bronze badges
I would say that buying sandwiches on a fuel card isn't a legitimate purchase. A fuel card is probably only going to be valid at outside, automated pumps (Automated Fuel Dispensers), and not for any use inside.
– Bobson
Jun 13 at 13:16
1
@Bobson you can't, you can only buy fuel on such a card. I'll try to clarify in the answer, but I meant using the card meant for subsistence as intended, but because food isn't the retailer's main business it looks wrong.
– Chris H
Jun 13 at 13:21
9
Some retailers do tell the card provider exactly what you’re buying; this is level 3 card transaction data.
– Stephen Kitt
Jun 13 at 14:08
2
Oh, OK, I didn’t get that restriction from the question ;-). (I get credit card statements with purchase summaries corresponding to L3 data, incidentally.)
– Stephen Kitt
Jun 13 at 14:36
2
"I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries" I think the one consistent thing is, it's not consistent. Some bigger retailers (i.e. Target) will use a different MCC for the POS in the electronics department or the in-store pharmacy vs the front registers, others don't. The inconsistency is really frustrating if you're trying to model this data in bulk.
– dwizum
Jun 14 at 17:04
|
show 2 more comments
I would say that buying sandwiches on a fuel card isn't a legitimate purchase. A fuel card is probably only going to be valid at outside, automated pumps (Automated Fuel Dispensers), and not for any use inside.
– Bobson
Jun 13 at 13:16
1
@Bobson you can't, you can only buy fuel on such a card. I'll try to clarify in the answer, but I meant using the card meant for subsistence as intended, but because food isn't the retailer's main business it looks wrong.
– Chris H
Jun 13 at 13:21
9
Some retailers do tell the card provider exactly what you’re buying; this is level 3 card transaction data.
– Stephen Kitt
Jun 13 at 14:08
2
Oh, OK, I didn’t get that restriction from the question ;-). (I get credit card statements with purchase summaries corresponding to L3 data, incidentally.)
– Stephen Kitt
Jun 13 at 14:36
2
"I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries" I think the one consistent thing is, it's not consistent. Some bigger retailers (i.e. Target) will use a different MCC for the POS in the electronics department or the in-store pharmacy vs the front registers, others don't. The inconsistency is really frustrating if you're trying to model this data in bulk.
– dwizum
Jun 14 at 17:04
I would say that buying sandwiches on a fuel card isn't a legitimate purchase. A fuel card is probably only going to be valid at outside, automated pumps (Automated Fuel Dispensers), and not for any use inside.
– Bobson
Jun 13 at 13:16
I would say that buying sandwiches on a fuel card isn't a legitimate purchase. A fuel card is probably only going to be valid at outside, automated pumps (Automated Fuel Dispensers), and not for any use inside.
– Bobson
Jun 13 at 13:16
1
1
@Bobson you can't, you can only buy fuel on such a card. I'll try to clarify in the answer, but I meant using the card meant for subsistence as intended, but because food isn't the retailer's main business it looks wrong.
– Chris H
Jun 13 at 13:21
@Bobson you can't, you can only buy fuel on such a card. I'll try to clarify in the answer, but I meant using the card meant for subsistence as intended, but because food isn't the retailer's main business it looks wrong.
– Chris H
Jun 13 at 13:21
9
9
Some retailers do tell the card provider exactly what you’re buying; this is level 3 card transaction data.
– Stephen Kitt
Jun 13 at 14:08
Some retailers do tell the card provider exactly what you’re buying; this is level 3 card transaction data.
– Stephen Kitt
Jun 13 at 14:08
2
2
Oh, OK, I didn’t get that restriction from the question ;-). (I get credit card statements with purchase summaries corresponding to L3 data, incidentally.)
– Stephen Kitt
Jun 13 at 14:36
Oh, OK, I didn’t get that restriction from the question ;-). (I get credit card statements with purchase summaries corresponding to L3 data, incidentally.)
– Stephen Kitt
Jun 13 at 14:36
2
2
"I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries" I think the one consistent thing is, it's not consistent. Some bigger retailers (i.e. Target) will use a different MCC for the POS in the electronics department or the in-store pharmacy vs the front registers, others don't. The inconsistency is really frustrating if you're trying to model this data in bulk.
– dwizum
Jun 14 at 17:04
"I've just checked one of my cards, and the instore cafe at the supermarket shows up exactly the same as buying groceries" I think the one consistent thing is, it's not consistent. Some bigger retailers (i.e. Target) will use a different MCC for the POS in the electronics department or the in-store pharmacy vs the front registers, others don't. The inconsistency is really frustrating if you're trying to model this data in bulk.
– dwizum
Jun 14 at 17:04
|
show 2 more comments
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There is a bunch of info that the merchant sends along with the card number and price when they submit the transaction. Depending on the card and the merchant, it can be very detailed.
– zeta-band
Jun 13 at 19:19