How do credit card co's keep track of reward categories?

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
10 posts
noobcredit
Green Member
Green Member
 
Posts: 4
Joined: Sun Jun 16, 2013 1:44 am
Location: us

How do credit card co's keep track of reward categories?

Postby noobcredit » Sun Jun 16, 2013 1:48 am

As you know, credit cards have different % of cashback on purchases. For example, 1% on anything, 2% on groceries and 3% on gas.

I was wondering, how do they track the % or if it's even tracked correctly. Lets say I go to walmart, and I buy groceries (fruits, food, etc) and at the same time I buy a laptop. Do they separate the items for the cashback, do they include everything in a category?

And even then, how do we know it's correct, and if it isn't the correct cashback, we do we do?


paparoach429
Centurion Member
Centurion Member
 
Posts: 331
Joined: Tue Sep 11, 2012 12:21 am
Location: chicago

Postby paparoach429 » Sun Jun 16, 2013 2:59 pm

I believe its how the whole store is classified.. For example gas stations, you can buy whatever in the gas station and still get the 3% for what is believed to be gas..

flan
Centurion Member
Centurion Member
 
Posts: 389
Joined: Tue Apr 09, 2013 10:16 pm
Location: chicago

Postby flan » Sun Jun 16, 2013 3:14 pm

paparoach429 wrote:I believe its how the whole store is classified.. For example gas stations, you can buy whatever in the gas station and still get the 3% for what is believed to be gas..


When I ran a gas station, the authorization request we sent included a product codes. So if you bought $50 in gasoline, $30 in food, and $40 in cigarettes, it wouldn't just be a request for a $120 auth, it would be $50 for the PC for fuel, $30 for general merchandise, and $40 for tobacco. We got charged different rates for different product codes for different cards (and some cards, like corporate fuel cards, couldn't be used for general merchandise). I don't know how much of that data made it to the major credit card issuers, or even if they'd really care. It sure made reading the credit card settlement report a pain, though....

(Also amusing: one of the fleets that we did work for had mastercards issued to their cars. the name would be "2013 Toyota Camry XYZ FUEL ONLY" and the signature box read "VALID WITHOUT SIGNATURE", where XYZ was the last few digits of the VIN.)

RewardHop
Centurion Member
Centurion Member
 
Posts: 307
Joined: Wed Jan 02, 2013 3:43 pm
Location: USA

Postby RewardHop » Sun Jun 16, 2013 4:18 pm

Heres a list of merchant codes:
http://www.dm.usda.gov/procurement/card/card_x/mcc.pdf

For Walmart, it depends on if its a "Supercenter" or just a regular Walmart what its classified as.

Visa has a merchant lookup tool to figure out what a merchant is classfieid as:
Visa USA | Corporate & Government | Visa Supplier Locator
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

noobcredit
Green Member
Green Member
 
Posts: 4
Joined: Sun Jun 16, 2013 1:44 am
Location: us

Postby noobcredit » Sun Jun 16, 2013 6:35 pm

So now that we got it down that there is a "code" for every product. How do we check if it got taken care of correctly? Do you guys even check it or just assume you got it? and if it was wrong, how do you dispute it?

User avatar
Calipso
Centurion Member
Centurion Member
 
Posts: 195
Joined: Mon Oct 29, 2012 2:50 pm
Location: Boston

Postby Calipso » Thu Jun 20, 2013 9:36 pm

It's really not hard at all. It's actually quite easy.

Q3 for Discover and Chase Freedom = gas. This quarter Discover is useless to me and I use Chase Freedom in Q2 for restaurants.

My memory is pretty solid so I don't see the issue. All my other cards have their own catagories. BCE = grocery shopping.
My Limits:
NFCU NavCheck: $15,000/NFCU Platinum: $11,500/NFCU nRewards: $8,000
Chase Freedom: $6,500/Chase Slate: $6,000/CSP: $5,000/Marriott Rewards Primier: $5,000/United MileagePlus Explorer: $5,000/Southwest Primier: $3,000
Citi Hilton HHonors: $9,700/Citi Simplicity: $8,200/Citi Forward: $5,500
AMEX Blue Cash Everyday: $8,000/SPG AMEX: $5,000/AMEX Everyday: $5,000/AMEX Delta Skymiles Platinum: $3,400
Discover IT: $7,700
Barclay's NFL Extra Points (Carolina Panthers): $5,000
DCU Platinum: $3,000
RTN FCU CC: $2,000
CCCU Platinum Rewards Visa: $2,000

Current total limit: $129,500

takeshi
Centurion Member
Centurion Member
 
Posts: 1741
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Fri Jun 21, 2013 1:30 pm

noobcredit wrote:So now that we got it down that there is a "code" for every product.

We don't have that down. flan mentioned that there are codes on the retailer's end. That doesn't mean that's what ever card company uses. Most cards classify at the store level

RewardHop
Centurion Member
Centurion Member
 
Posts: 307
Joined: Wed Jan 02, 2013 3:43 pm
Location: USA

Postby RewardHop » Sun Jun 23, 2013 4:32 pm

noobcredit wrote:So now that we got it down that there is a "code" for every product. How do we check if it got taken care of correctly? Do you guys even check it or just assume you got it? and if it was wrong, how do you dispute it?


The code is per merchant/retailer, not per product.
[size=60]

Amex BCE: 3% grocery, 2% gas

Bank of America Better Balance Rewards MC: $25/quarter bonus

Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities

Capital One Quicksilver Visa Signature: 1.5% everything

Chase Freedom Visa Signature: 5% rotating

Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com

Discover It: 5% rotating

SallieMae MC: 5% Groceries, Gas, Amazon

US Bank Cash+ Visa Signature: 5% electronic stores, restaurants

Sock Drawered: Chase Sapphire, Chase Amazon[/size]

Alaskadragonfly
 
Posts: 1
Joined: Sun May 26, 2013 9:47 am
Location: Land of the Midnight Sun

Postby Alaskadragonfly » Wed Jul 03, 2013 2:16 am

I just got the BCP, and it says in the brochure that supercenters and price clubs don't count toward grocery store purchases, that gas bought from supercenters, grocery stores, and price clubs doesn't count toward the gas category.

I was very sad about this.

rockyrock
Centurion Member
Centurion Member
 
Posts: 895
Joined: Thu Mar 21, 2013 6:06 am
Location: Ventura, CA

Postby rockyrock » Fri Jul 05, 2013 4:39 am

Alaskadragonfly wrote:I just got the BCP, and it says in the brochure that supercenters and price clubs don't count toward grocery store purchases, that gas bought from supercenters, grocery stores, and price clubs doesn't count toward the gas category.

I was very sad about this.


Yeah, that's how they get you. You may want to try anyway...
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 3 guests