What are Category Boosts?
Category Boosts are increased reward rates earned for shopping with your Fold Card at certain types of stores, aka categories, during a certain period of time. These boosted categories will be rotated throughout the year.
Which categories are currently boosted?
Category Boosts will cycle throughout the year. Find these in the app on the Offers page.
How do Category Boosts work?
You earn eligible Category Boosts automatically. Here's how they work:
Step 1: Use Your Fold Card
Make a purchase using your Fold Card at a merchant that falls under one of the current Category Boosts.
Step 2: Stack Rewards
Your Category Boost earns you a boosted reward rate of up to 1.5%.
What are MCCs?
MCCs, or Merchant Category Codes, are four-digit numbers assigned to businesses by debit/credit card companies, like Visa. These codes categorize the business based on the type of goods or services it provides. MCCs help identify transactions on your credit card statement and also affect the "interchange fees" that companies like Visa charge merchants to use their network. The interchange fees impact the revenue that we (Fold) earn, which in turn influences the rewards that we can pass along back to you for each type of transaction.
How do MCCs affect my rewards?
Visa only provides additional interchange on specific Merchant Category Codes. That means, Fold is only able to pay out additional rewards when the merchant uses one of those MCCs to process their payment.
By grouping MCCs into categories, we make it easier to know which types of codes may be boosted, instead of list listing each one individually. So, the category your transaction falls into can affect the rewards you receive from us.
MCC 6012 and how that impacts PayPal bill pay
Due to changes made by Visa, all transactions with MCC 6012 earn a flat 0.5% flat rate. This includes bill pay with your Fold Card to pay your mortgage, credit card payments, and other bills.
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