When choosing a business credit card it's important to consider which liability structure is best for you and your business.
Personal liability (for Altitude credit cards only)
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 Mastercard® and Altitude Business Gold Mastercard® cards offer personal liability.
Joint and several liability (for BusinessChoice credit cards only)
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 Mastercard® and BusinessChoice Everyday Mastercard® cards offer joint and several liability.
Business liability (for BusinessChoice credit cards only)
With a BusinessChoice credit card with a Business liability structure, the Business is liable for the payment for all transactions on the facility. It’s ideal for business entities where the owners or other responsible individuals would prefer the business, rather than themselves to be liable for the balance owing on the facility.
Our BusinessChoice Rewards Platinum Mastercard® and BusinessChoice Everyday Mastercard® cards offer the option of a Business Liability structure.
Things you should know
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