MCC 5251 pertains to establishments primarily engaged in selling tools, building materials, and related hardware products for various projects.
Interchange Fee
Typical interchange fees for this category range between 1.6% and 3.2%, depending on card types (credit, debit, or corporate) and agreements with card networks.
Cashback Rewards
Cardholders may receive 1% to 5% cashback on purchases under MCC 5251 based on their issuer’s rewards program and promotional offers for hardware and home improvement expenses.
Rules and Restrictions
There are no special rules or restrictions enforced by payment processors for transactions classified under MCC 5251, apart from standard regulatory compliance and transaction approval processes.
Tax Reporting
IRS reporting may be applicable to significant purchases made under MCC 5251, such as for renovations, which can potentially impact tax deductions and liabilities for home improvement-related expenses.