The Authorized Buyer portion of one of the above statements is not all true.

If you are an "Authorized Buyer " under the Federal law you have no legal obligation to pay back any amount you charge on a credit card.

BUT if you are added as a secondary account holder then you are liable if the company goes belly up.

Example for a personal account: You are married (in any state beside WI) you have a credit card and you add your S.O. as an authorized buyer. They can charge what ever their heart wants and you will be stuck with the bill and they can't be held liable unless you have a signed contract with them but no matter what the bank can not go after them you would have to sue that person.

However if they are added as a secondary account holder they are equally as liable for the balance as you are.

The same principal is true with all credit cards personal or business. If you are an Authorized buyer you are free and clear from any liability as you have not signed any contract saying you are liable. But just make sure your company does not state " Authorized buyer or user " but then stick a co-applicant form in front of you.

(Of course, this post is not intended to provide legal advice to the OP or anyone else. ) thanks Ron in LA for the quote