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Fine print, Living with credit

Hillary racks up credit card debt but pays off balance

Emily Crone

Last month, we poked fun at John McCain for carrying some hefty credit card debt at a high interest rate. Barack Obama had no major credit card debt to report, but recently released documents show that Hillary Clinton does. While the amount she has charged isn’t small, she still does the responsible thing: She does not carry a balance.

U.S. senators are required annually to disclose any financial liabilities larger than $10,000. While the McCains had nine credit cards with that amount of activity to report, the Clintons have just one — a card issued by Citi with a reasonable APR of 15.24 percent.

Hillary-disclosure.jpgThe disclosure forms do not require senators to indicate an exact amount of debt; they must check off a box indicating the monetary range it falls under. For the year of 2007, Clinton’s card is in the $15,001 – $50,000 category, but there is no indication of the exact amount.  Clinton’s form notes, however, that the monthly balance on the card is paid off. The McCains can’t say the same, as one of their cards, issued by Chase, has the rate of 25.99 percent. That rate is usually reserved for those who have misbehaved with credit.

Interestingly, Clinton’s disclosure forms also reveal the long list of paid speeches her husband, Bill Clinton, gave during 2007. He gave 54 speeches that year, everywhere from Athens, Greece, to Grand Prairie, Texas, and was paid no less than $100,000 for each one. He was paid to speak to Lehman Brothers, KCBS Radio, General Electric, Boys and Girls Club of Los Angeles and the North American Association of Food Equipment Managers, among others. The highest-paid speech (for AEG London) netted Clinton $425,000.

That’s not to mention the stocks, book revenues and other investments the Clintons have. So what exactly did they need to put on that credit card? Any guesses?

See related: Plastic politicking: Donating to campaigns by credit card; Presidential candidates have bad credit; 3 presidential candidates, 2 credit card reform plans.

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  • Martha

    Finally, some looking @ Clinton’s disclosure forms. The Yucaipa stuff is really good.
    Funny tho didn’t both Clinton & McCain vote for the bankruptcy bill that favored the credit card industry. I guess when you have millions stasHed in the Caymans you don’t worry about these things.