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Understanding liability structures

When choosing a business credit card it's important to consider which liability structure is best for you and your business. We offer both personal liability and joint and several liability across our four cards.

Personal liability

With a business credit card with personal liability, the business owner is personally responsible for all transactions on the credit card account. It’s ideal for small businesses (including sole traders and partnerships) where the business owner takes personal responsibility for the balance owing on the credit card account.

Our Altitude Business Platinum and Altitude Business Gold cards offer personal liability.

Joint and several liability

With a business credit card with joint and several liability, the principal is jointly and severally liable for all transactions to the credit card account. It’s ideal for small to medium enterprises and partnerships where the business owners or directors jointly take responsibility for the balance owing on the credit card facility.

Our BusinessChoice Rewards Platinum and BusinessChoice Everyday cards offer joint and several liability.