If you've ever wondered how the banking/credit cards system works, here's an overview so you can learn how to game it to your benefit!

How exactly do the credit card companies / banks know whether you've fulfilled the transaction criteria, and how do they know how much to give you back? 

6% cashback on dining, 5% for retail shopping, and 3% for groceries! Credit your salary and make 3 bill transactions to get bonus 2% interest!

Here's how:

Credit card transactions, and the corresponding rewards, are determined by MCC codes The transactions on your bank account would be judged by its relevant transaction codes. Hacking Credit Cards: MCC Codes

A Merchant Category Code (MCC) is a four-digit number used to classify businesses - those accepting retail financial transactions via credit cards - by the type of goods or services it provides.

In Singapore, for instance, here are some common MCC codes:


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