MCC 7996 pertains to transactions involving amusement parks, circuses, carnivals, and related entertainment activities.
Interchange Fee
Typical interchange fees for MCC 7996 range between 1.5% and 3%, depending on card type and issuing bank policies for entertainment and amusement-related expenses.
Cashback Rewards
Transactions under MCC 7996 may qualify for cashback rewards on some cards, especially those that include entertainment spending as a reward category. However, many standard cards may not offer cashback benefits for these purchases.
Rules and Restrictions
There are no special rules or restrictions imposed by payment processors specifically for transactions under MCC 7996. However, card issuers may impose their own conditions for spending at entertainment venues.
Tax Reporting
The IRS may require reporting for transactions related to certain events under MCC 7996 if the expenses involve taxable winnings or earnings at applicable venues.