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First, we heard that the former chair of the Federal Reserve couldn’t get a mortgage. Then we learned that one of the most powerful economic figures in the world makes less money than at least 113 of her underlings.
Now we find out that President of the United States had his credit card declined.
At an event at the Consumer Financial Protection Bureau today, President Obama said a New York restaurant rejected his card last month. But it wasn’t because he maxed out his credit (or so he says).
“I guess I don’t use it enough, so they thought there was some fraud going on,” Obama said. “I was trying to explain to the waitress, no, I really think that I’ve been paying my bills.”
The President made his remarks while signing an executive order to improve security features on government credit cards. “Even I’m affected by this,” Obama joked.
Luckily, Michelle picked up the tab.
Read on for more help with common credit woes:
- How do I fix a suspicious charge on my credit or debit card?
- What should I do if I have been a victim of a data breach?
- Should I pay for credit monitoring?
- How can I dispute errors in my credit report?
- The one thing you should do to protect yourself from identity theft
- Money’s Best Credit Cards