What is the liability on my business credit cards?

Answer by  patti (29325)

Your liability depends on how your business is set up. The disposition of the business's debt depends on how you are incorporated and who is involved. If you are have not incorporated and simply have accounts in the name of the business, you are likely responsible.

Answer by  Gus18 (8)

If you are an individual using a business credit card for record keeping purposes, you are personally and fully liable for the repayment of any charges incurred by use the credit card. Organizing the business as a limited partnership (LLC) or corporation would separate the business liability from your personal liability.

Answer by  Platypus (180)

The liability is the same as the business association. If you have an LLC the liability is limited, if a partnership it's unlimited.

Answer by  salsafoodie (3146)

Depending on what you are looking to do with your credit cards, if you do not pay back the credit card then you can have a problem with the cards.

Answer by  hahagal (983)

There is some liability if you decide to close the business, you will have a problem getting the credit cards again at a later time.