Anyway to know the classification of a payment in the eyes of CC ?

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Last Comment 2023-10-16

2023-10-15

Maybe the title is badly worded. You know how CCs will reward lesser cashback for utlility and insurance payments, which makes us use the amazon gift card trick. Well does the CC exactly know if im paying for a new mobile on amazon.in or paying for my electricity on amazon pay if all i see in cc statement is amazon.in in both cases ?

are there codes similar to hsn codes used for GST ? if so, how do i know what category a particular payment will fall under the eyes of CC ?

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https://www.desidime.com/comments/permalink/9633146

GautamgR

2023-10-15

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MCC codes 🤓

https://www.desidime.com/comments/permalink/9634011

Demon_slayer

2023-10-16

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There is no clear way to know MCC codes while making payments. People correlate certain merchant names with the reward points they are getting.

Broadband, electricity, gas, recharges are utility.

Property taxes maybe classified as govt spends.

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https://www.desidime.com/comments/permalink/9633146

GautamgR

2023-10-15

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MCC codes 🤓

https://www.desidime.com/comments/permalink/9633336

rawfiul

2023-10-15

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i looked into MCC codes, it is what i was looking for, but im still unsure how to know the MCC codes and their conditions for my CC and the MCC code a particular payment website falls under.

I have IDFC 1st Wealth CC and they say all online spends is 6X reward points but 1X for utility and insurance and 3X for Rental and Property management.

Is broadband and mobile recharge considered under utility?

is property tax to municipality a utility or property management or none?