Wise Bread Reloaded: President Obama's Credit Card Declined at Pricey Restaurant (and How You Can Avoid the Same Fate)

By Lars Peterson. Last updated 18 October 2014. 0 comments

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This week the President revealed that even the leader of the free world is not immune to credit card identity fraud.

"I went to a restaurant up in New York when I was — during the U.N. General Assembly, and my credit card was rejected," the President said during an executive order signing ceremony at the Consumer Financial Protection Bureau. "It turned out I guess I don't use it enough. They were — they thought there was some fraud going on. Fortunately, Michelle had hers."

The President usually pays with cash and doesn't often carry a credit card, which is a good budgeting trick, even for someone who earns a $400,000 per year salary.

The executive order instructs government agencies to beef up identity fraud protections on government issued credit cards. The protections will include the new "Chip and PIN" security technologies that most card issuers and big retailers will move to in the next few years.

Of course, regular readers of Wise Bread are familiar with Chip and PIN — and a whole host of other ways to protect themselves from identity theft, along with lots of advice about maintaining good credit card hygiene. Here's a sampling in this weekend's Reloaded.

This Is How Chip and PIN Defends Against Identity Theft

Emily Guy Birken explains the technology behind Chip and PIN, what it will protect you against — and what it won't while she ask Will New Chip-and-PIN Credit Cards Stop Identity Theft?

Uh Oh — Where's My Card?

If you've ever had that sinking feeling when you realize your credit card has been lost, you probably wish you knew the 10 Things You Should Do Immediately After Losing Your Wallet. And if you don't know that feeling yet, keep Paul Michael's list handy!

Should You Hire an Identity Theft Protection Service?

Peace of mind is valuable, but the service can be expensive. Wise Bread contributor GE Miller shows you How to Do What Identity Theft Protection Companies Do… for FREE.

What Do They Do With Stolen Plastic, Anyway?

Big time credit card fraudsters buy and sell identities for all sorts of nefarious schemes, but as Carrie Kirby explains, the smaller operators — the ones who get nabbed — are the authors of these 8 Weirdest Cases of Credit Card Theft.

New Ways to Pay With Plastic

Plastic is pretty convenient (when used responsibly) and Mark Jackson shows how much more convenient it can be with these 6 Pieces of Credit Card Tech That Will Blow Your Mind.

Additional photo credit: Taber Andrew Bain
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