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Bottom of the NinthHi George,
Miscut is both a qualifier a card can receive where a numerical grade can be assigned as well as a rejection code. Your card fits the 2nd description.
MC (miscut) Type of qualifier. A card that has little or no border, or even portions of another card. Cards with a factory miscut, such as a diamond cut, or when another card's image is on the original card will be designated MC.
N-8 Miscut - This term is used when the factory cut is an abnormal cut. The grading fees are returned. You will be given a voucher good for another submission for the same type of service.
Hope this helps.
Greg