@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I know this was a question on here on how this was coded with Visa...wasn't sure if it was answered. I use my PNC Visa Debit at our Costco gas station and it definitely codes as gas on my account.
To get the full % benefits of your Visa rewards card, the Visa MCC for the merchant has to be 5542, which Costco gas stations are not. The MCC does not show up on your receipts, you have to ask the merchant what theirs is, and that is what I did in an email to Costco. Even if your receipts indicate a "gas purchase", if the Visa MCC for the merchant is not 5542, you will not get your full % of rewards, only 1%. The 5542 MCC(automated fuel dispensers) is what Visa uses to indicate the purchase was made at the pump of a stand alone gas station.
So the Costco gas stations are coding as 5541 ( Service Stations ( with or without ancillary services) ) or are they coding as groceries or general merchandise for others?
My purchases are automatically bucketed when I view my Visa (debit) purchases online and in-store Costco purchases for me code as Groceries and Costco gas purchases code as Gas.
Sorry if I sound confused...LOL...I am. Just want to make sure I understand the best way to maximize benefits at the Costco pumps!!!
I may have been too general in my earlier comment in regard to the MCC has to be 5542 to get your Visa full % rewards. This is what Penfed told me in regard to my Penfed Visa Platinim Cash Rewards which gives 5% cash back for "gas purchases made at the pump". Costco did not give me their MCC in their email. They only said I would not receive the 5% when using my Penfed card which requires the MCC of 5542. From this, I have to assume their MCC is something other than 5542. I assume every Visa card may have different rules setup by the financial institution that issues it. I would suggest everyone talk with the financial institution issuing their particular Visa card to determine the rules for receiving the full rewards from their card. On the Penfed website in regard to their Visa Platinum Cash Rewards card, the statement "5% cash back for gas purchases made at the pump" had a ** after it. The notes that the ** referenced were as follows:
Rewards are available only for new purchases made with the card: cash advances, checks drawn from the account, and balance transfers are excluded and do not earn credit toward rewards. Certain restrictions may apply. Visa® USA determines which transactions are classified as gas purchases paid at the pump and supermarket purchases based on Merchant Category Codes. Military commissaries are supermarkets. Fuel purchases for airplanes and boats receive 1 point per dollar spent. Your card account must be open and in good standing to earn rewards.
Penfed told me Visa looked for MCC 5542(automated fuel dispensers) as an indication of a gas purchase paid at the pump. This MCC 5542 is a Penfed requirement. Other Visa rewards cards may have different requirements. I think the best thing to do is just wait for April 1,2016, buy gas with your Visa card, and check your bill, as to what rewards you received. I seriously doubt Costco would let other reward cards give a higher % cash back than their CITI co-branded Visa will give.
