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Card assetback rules and exclusions
Asset cashback, or assetback, applies to eligible purchases only. Certain transaction types and merchant categories are excluded, mainly cash-like transactions. This article explains which purchases do not earn assetback.
Asset cashback, or assetback, applies to eligible purchases only. Certain transaction types and merchant categories are excluded, mainly cash-like transactions. This article explains which purchases do not earn assetback.
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Which transactions don't earn assetback?
Assetback does not apply to cash-like transactions, meaning transactions that involve withdrawing or moving money rather than buying goods or services. These include:<br><br>ATM withdrawals, cash advances, P2P transfers (sending money to another person), currency exchange, tax and government payments, gift cards and prepaid cards, and gambling.
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Which merchant categories are excluded?
Some purchases are excluded based on the merchant's category. Each merchant has a merchant category code (MCC), a standard code assigned by its bank to describe its business. Purchases under the following MCCs do not earn assetback:<br><br>6011: ATM and cash withdrawals<br>6012: Investment and financial services<br>6211: Brokers, dealers, and financial products<br>6513: Real estate and rent<br>6532: Card-to-card transfers and account funding<br>7995: Gambling, betting, and casinos<br><br>This list is not exhaustive. Eligibility depends on the merchant's category code at the time of the transaction.
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Do PayPal purchases earn assetback?
It depends on the transaction type. Payments to merchants through PayPal, such as online shopping, usually earn assetback. Transfers to another person (P2P transfers) do not.
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Do gift card purchases earn assetback?
No. Gift cards, prepaid cards, and stored-value cards are treated as cash equivalents and do not earn any assetback, regardless of where they are purchased.
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Why didn't my purchase earn assetback?
Common reasons include:<br><br>• The transaction type is excluded (for example, a cash withdrawal or transfer).<br>• The merchant falls under a restricted category.<br>• You have reached your monthly eligible spending cap.<br><br>You can review the details in your asset cashback history in the app.
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Do refunds affect my assetback?
Yes. If a purchase is refunded or reversed, the assetback earned on that purchase is also reversed. This applies only to the affected purchase and does not affect your other assetback rewards.
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My assetback rewards looks wrong. What can I do?
If you believe a purchase should have earned assetback but did not, contact customer support in the app with the transaction details. We will review your case and respond within 3–5 business days.
