5521
Car and Truck Dealers (Used Only)
MCC 5521 covers transactions related to dealerships that sell used cars and trucks.
Interchange Fee
Interchange fees for MCC 5521 transactions may range from 1.25% to 3% depending on the card network and whether the purchase is made in-person or online.
Cashback Rewards
Typically, cashback rewards for used car purchases are limited. Some premium credit cards may offer bonuses for automotive-related purchases but are often capped.
Rules and Restrictions
There are no specific rules or restrictions imposed by payment processors for MCC 5521 transactions.
Tax Reporting
The IRS does not impose special tax reporting requirements on transactions under MCC 5521, although state and local taxes, including registration fees, typically apply to used vehicle purchases.