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Credit card account for mystery shopping only

November 22, 2014 07:14PM
So, I'm new at mystery shopping. I've done 5 shops total in the past three weeks. I'm getting a lot of assignments coming in and they are much faster than the payment. I am wondering, do any of you use a credit card specifically for your mystery shopping expenses? I imagine it helping build my credit and it will allow me to do some of the big ticket stuff I might not have the cash for up-front.

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November 22, 2014 07:24PM
With the delay between assignments and reimbursements a credit card can help if you are concerned about cash flow. Just keep in mind interest charges if you cannot pay the balance in full each month. I definitely prefer using the credit card for purchase/returns or travel. If you have a card offering cash back or some other perks, all the better.

A good policy when new is to be cautious about how much money you are advancing for shops. If the outlay is either small or for something you absolutely would have purchased anyway it's good. So gas and groceries are reasonable while expensive fine dining and upscale hotels are not prudent.

Equal rights for others does not mean fewer rights for you. It's not pie.
"I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag." -Molly Ivins
Never try to teach a pig to sing. It's a waste of your time and it really annoys the pig.
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November 22, 2014 07:31PM
Thank you for your advice! I don't know any mystery shoppers in person, as I stumbled across my new hobby and extra income rather accidentally. It's nice to hear from someone who is experienced.

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November 22, 2014 07:38PM
This was a great place for you to stumble intowinking smiley There are dozens, maybe hundreds of experienced shoppers who are more than willing to offer advice. Take some time to read the first 10 to 12 threads in this New Mystery Shoppers section. They provide a great overview of everything from growing your business to software and equipment to taxes.

Equal rights for others does not mean fewer rights for you. It's not pie.
"I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag." -Molly Ivins
Never try to teach a pig to sing. It's a waste of your time and it really annoys the pig.
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November 23, 2014 09:34PM
Welcome to the forum. This really is a great place for shoppers to learn and share.

As for your question, there are lots of shoppers who put their business expenses on one credit card. It's easier to keep those separate from your other finances for tax time.

Yes, the wise use of any credit card will help you build your credit. Realize the income & reimbursement may not come in as quickly as the payments are due. Check each company's payment schedule to see when they promise payment. Check the forum to see how well each company delivers on their promise. Don't worry too much, most do it as promised.

Have fun with it. smiling smiley

Happily shopping Rhode Island and nearby Massachusetts and Connecticut
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November 23, 2014 09:57PM
Jay, you don't make enough money mystery shopping to be able to afford the interest charged on a credit card. Therefore, it's best to limit any charges to the card to an amount you know you can pay off in thirty days. Over time, you'll be able to build up your shopping fund. Whatever is in your shopping fund is what you can afford to charge that month. The shopping fund has to be enough money to pay off the credit card before interest accrues to make the system work. Otherwise, you're paying out interest from 13 to 29% on your charges.

Mary Davis Nowell. Based close to Fort Worth. Shopping Interstate 20 east and west, Interstate 35 north and south.
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November 24, 2014 02:09PM
I have a mystery shopping only credit card because I do a lot of gas station audits for one particular brand that requires pay at pump and it is easier than keeping track of a ton of debit receipts. It also gives me a little time to get cash flow in to pay vs if I used debit.
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November 28, 2014 11:26PM
Thank you for all the advice everyone.

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February 18, 2015 02:17AM
Sandra.... you might want to edit that post and remove your email address. This is not a place to advertise for jobs. Any spammer could find your email address here and send you phony job offers.

Time to build a bigger bridge.
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April 08, 2015 03:49AM
At some point, I do plan to have a card with decent terms as a "pay in full monthly" card just for MS. That is, if I'm still doing enough MS to justify it at that point, which may or not be the case (I'm now doing merchandising again).
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April 09, 2015 07:06AM
If you pay in full monthly it doesn't matter much what the terms are. Get one that gives rewards points.

Time to build a bigger bridge.
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