After 17 trillion it’s about time.
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In what must have been an awkward moment for everyone involved, President Barack Obama said his credit card was declined at a New York City restaurant last month.
“My credit card was rejected. It turned out I guess I don’t use it enough,” Mr. Obama said while signing an executive order to help Americans guard against identity theft. “They thought there was some fraud going on. Fortunately, Michelle had hers.”
Mr. Obama’s anecdote came as the White House announced plans to start distributing federal benefits, such as Social Security payments, via debit cards that contain a computer chip. The chip-based cards won’t prevent data breaches but will make it more difficult for thieves to create counterfeit cards from stolen data.
Mr. Obama said his card was declined while he was stepping out to eat during the U.N. General Assembly meetings in New York last month.