Vendor wants too much information

4 replies
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I am lining up a few vendors, but one is causing me concern: he wants my mortgage holder, SS#, bank number, etc. It is a reputable company, but is this common?
#information #vendor
  • Profile picture of the author timpears
    WTF. I think I would tell him he is crazy. That is none of his business. What does that have to do with the business you want to conduct?
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    Tim Pears

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  • Profile picture of the author lastreporter
    Many vendors require an extensive credit application. This is not unusual. It is more prevalent among manufacturers of products that are in demand. They pick and choose whom they want to deal with.

    If you don't want to supply the info, forget the vendor.

    I've had some vendors require this sort of info even though I wanted to pay via a credit card.

    I think many of them use it as a hurdle to eliminate the small, unestablished players.

    They want to know whom their dealing with.
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  • Profile picture of the author ronrule
    Sounds like it's a credit app - if they are giving you terms, you might be able to just tell them you want a cash account and pay on demand.
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    Ron Rule
    http://ronrule.com

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  • Profile picture of the author cldnails
    I'm with ronrule, as a vendor we ask these types of questions on credit apps, but not to open normal accounts. No info, other than an address, is required if you plan on paying with a credit card or cash up front.
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