RIP-OFF ALERT: Entrepreneurs are being cautioned to avoid signing up for or using small business credit cards. These types of cards will lock you into extra liability in spite of the Credit Card Holder Bill of Rights that goes into effect February 2010.

The initial liability comes because the small business is the signatory and has responsibility in the event of default. Yet there's a second level of liability to the individual that's specific to small business cards. The lender can do what's called "piercing the corporate veil." In plain English, that means if your business can't pay the bill, the bank comes after you.

The Credit Card Holder Bill of Rights does not offer any protections on this specific issue for entrepreneurs and small business owners.

You can expect to see a flurry of offers trying to lock you into a small business card instead of a personal card over the next several months. But you want the personal card instead.

Remember, you should be using a personal card for business expenses and simply paying the bill from your business account.

The Wall Street Journal reports that Chase is launching no less than four new small business cards to ensnare entrepreneurs. They'll tell you that you're being offered these cards because of your personal success and business acumen. But don't be fooled. Accept the compliment and shred the offer.