Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

Money has partnered with CardRatings.com and ConsumersAdvocate.org, among other companies, for our coverage of credit card products. Money, CardRatings.com, and ConsumersAdvocate.org may receive a commission from card issuers. For example, Money receives a commission from Citi when you apply and are approved for a Citi product through the links on this site.

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

By Kara Brandeisky
October 17, 2014
Saul Loeb—AFP/Getty Images

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:

Read next: Obama Signs Order to Secure Government Credit Cards From Data Breaches

Advertiser Disclosure

Money has partnered with CardRatings.com and ConsumersAdvocate.org, among other companies, for our coverage of credit card products. Money, CardRatings.com, and ConsumersAdvocate.org may receive a commission from card issuers. For example, Money receives a commission from Citi when you apply and are approved for a Citi product through the links on this site.

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

EDIT POST