Credit references?

[Shpigford]

I'm looking into buying wholesale from various companies for product and one of them asks for "Atleast TWO credit references"...what exactly might they be talking about?

[pdxi]

I'm looking into buying wholesale from various companies for product and one of them asks for "Atleast TWO credit references"...what exactly might they be talking about?

Give one of them a call and ask for a couple of examples. Usually, though, this means that they want to know of another vendor that you have a credit agreement with.

Or, you can tell them that you're going to pay in cash, and that you will not keep an outstanding balance with them.

[petertdavis]

It should be someone with whom you've had business releations. Not limited to vendors, but if you have a strong relationship with any vendor that would be great. A company you have an established relationship with and that someone there will recognize you by name is the best bet. Your bank? (particularly if you've had a business-related loan) How about your hosting company? Any consultants you hire regularly?

[Shpigford]

It should be someone with whom you've had business releations. Not limited to vendors, but if you have a strong relationship with any vendor that would be great. A company you have an established relationship with and that someone there will recognize you by name is the best bet. Your bank? (particularly if you've had a business-related loan) How about your hosting company? Any consultants you hire regularly?

Well the thing is I don't use credit with anyone. I only pay for stuff I've got the cash for...I wouldn't even want to do credit. Hmmm.

[petertdavis]

You're missing the point. It's not about whether anyone has extended you a line, it's more about the relationship. If you've never had a business line of credit before, you'd be obligated to tell them that if they request that info, but as far as references go you should use someone who can attest to your being a stable person with whom to do business. If you've been extended a line of credit by them, and never used it, all the better.