American Express Small Business Card for Ltd Companies got one?

[Rhiannon]

If you have one of these cards, did you know that if your LIMITED business goes into liquidation then you are legally required personally to pay back every penny spent?

There is nothing about this in their literature which accompanies the card but is in the small print on the back of the agreement. So if you know anyone that has one of these cards, please warn them. R.

[Babynick]

Thanks for the warning Rhiannon...
we have amex company cards at my work - day job that is.

(Strange really, as being a retailer, we don't accept amex... but that's another story!)

[Rhiannon]

Babynick, the person liable to pay back the debt is the person that took out the original agreement, not any other card holders. R.