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There are many questions you can ask when you follow up with business credit references, for example: How long has Company A had an open account with you? What is their credit limit with you? How many times have they been late? How late? Is there a seasonal pattern to their payment behaviors?
A credit reference helps detail a person's credit history. Credit reports are examples. In some cases, credit references can also be statements or letters. The most common types of credit references are credit reports, asset documents and character references.
Anyone who has provided the applicant credit or had a financial relationship can serve as a credit reference. Applicant's credit card company, local bank, investment firm, past landlord, or a local business that offered a payment plan are examples.
A credit reference is a document, person or company that can provide information about whether you typically have paid your bills on time. You're most likely to be asked for a credit reference when you are trying to rent a home, get utilities connected or borrow money.