MCC 3001 represents transactions conducted with AMERICAN AIRLINES.
High Risk
This MCC is considered high-risk for chargebacks and disputes due to the nature of airline transactions, which can involve large sums of money, frequent cancellations, and potential disagreements over service quality or schedule adherence. Customers may dispute charges if the airline service fails to meet expectations or contractual obligations. However, this MCC is not typically blocked by card issuers.
Interchange Fee
The typical interchange fee for transactions under MCC 3001 can range from 1.5% to 3.0%, depending on the card type and network.
Cashback Rewards
Cashback rewards may vary by card issuer, typically ranging from 1% to 5% for travel and airline categories, depending on individual card programs.
Rules and Restrictions
There are no special rules or restrictions that payment processors impose for transactions under MCC 3001.
Tax Reporting
The IRS may require tax reporting based on the nature of the purchase. This will depend on individual and business tax regulations and circumstances.