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Supplier asking for credit card details

by John2810
8 replies
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Hi,

I have a supplier asking for my credit card details.

I know we have OTP verifications via our phones nowadays, but I'm still apprehensive. May I know how anyone has managed this?

Should I be concerned? Why do suppliers need that credit card information for?

Please advise,
Thanks!
#card #credit #details #supplier
  • Profile picture of the author alksense
    What are the payment terms? If you will be prepaying for orders (paying for orders as you place them with the supplier) this is probably the reason.

    They most likely need it so that they can charge you for your orders... is this a drop shipper? It's very common for them to keep your credit card info on file so that they can charge you and ship orders quickly as you are placing them.
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    • Profile picture of the author John2810
      Thanks Anton.

      I stated I wanted to pre-pay.

      Just for verification, pre-pay is full payment immediately for the order and can be done via wired transfer or by charging to my credit card.

      Credit terms is payment by the end of the month or something like that?
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      • Profile picture of the author alksense
        Pre-pay typically means that you place the order with your supplier (after you receive it on your website) and then you pay them prior to them shipping the order out.

        Some suppliers take credit cards, some take PayPal, some take eChecks and some accept bank wires. I always prefer to pay via CC because I like to travel and I'm able to build up tons of rewards by using my business credit card.

        Applying for terms means the supplier will ship all of your orders and then invoice you. Every supplier has different terms but for example they can be net 15 or net 30, meaning you would could pay 15 days or 30 days after being invoiced.

        I almost always prepay because it's easier to get approved for accounts this way and because I love the travel rewards
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        • Profile picture of the author John2810
          AWESOME! Thanks!

          Looking forward to lots of miles on my card
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          • Profile picture of the author Paycheck Rebel
            You should always be wary to whom you give your credit card.
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  • Profile picture of the author dmanscoop
    It's not unusual for suppliers to ask for details if purchasing stock, sometimes a deposit, usually the whole amount.
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    • Profile picture of the author lindasdd
      Giving card details to a supplier should not worry you. If for some reason you are worried, just make sure you are giving them an actual credit card rather than a debit/VISA card since the credit card isn't linked to your bank account.
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      • Profile picture of the author Audarah
        Its normal. I have a supplier who required me to actually copy the front and back of my card and upload it to their site. Afterall, when I place an order with them- I am going to be using that card and they are going to be using that card info anyway. Long story short, the supplier is going to get or have that info anyway. Just watch your account and make sure everything is kosher. I run my bank account through quicken and watch every penny that goes in and out.
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