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McCains report more than $100,000 in credit card debt
The Hill ^

Posted on 06/13/2008 10:54:15 AM PDT by Sub-Driver

McCains report more than $100,000 in credit card debt By Kevin Bogardus and Manu Raju Posted: 06/13/08 10:20 AM [ET] Sen. John McCain (R-Ariz.) and his wife reported more than $100,000 of credit card liabilities, according to financial disclosure documents released Friday.

The presidential candidate and his wife Cindy reported piling up debt on a charge card between $10,000 and $15,000. His wife’s solo charge card has between $100,000 and $250,000 in debt to American Express.

Another charge card with American Express, this one for a “dependent child,” is carrying debt in the range of $15,000 and $50,000.

Cindy McCain reported a wealth of assets, including properties in Arizona and one she sold in La Jolla, Calif. for more than $1 million in profit.

In addition to his Senate salary, McCain received an annual pension from the U.S. Navy that is worth more than $58,000.

(Excerpt) Read more at thehill.com ...


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: 2008; credit; debt; mccain
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To: Sub-Driver

These are figures required for FEC filings. I’d venture those were ‘debts’ at the time of the filing. It isn’t to say they are debts that haven’t been or won’t be paid.


81 posted on 06/13/2008 11:50:09 AM PDT by EDINVA (Proud American for 23,062 days.... and counting!)
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To: Pravious

As I said, I thank them for paying interest on this amount. Obviously, it doesn’t put a dent in their assets and, for the rest of us, it is another way for the rich to contribute to the economy. It’s all good!

As for why people who can pay put charges on credit cards? Because it’s convenient and easy and creates an automatic record of their expenditures; they can also, for example, put a “staff member” on an account, who can then do certain shopping/tasks for them and pay it, but with accountability because there is a record of who/what/when/how much that comes to the major account holder.


82 posted on 06/13/2008 11:50:32 AM PDT by fightinJAG (RUSH: McCain was in the Hanoi Hilton longer than we've been in Iraq, and never gave up.)
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To: Holicheese

Good point!


83 posted on 06/13/2008 11:51:17 AM PDT by fightinJAG (RUSH: McCain was in the Hanoi Hilton longer than we've been in Iraq, and never gave up.)
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To: Rebelbase

Yep. Apparently Britney Spears, for example, used to go and plunk down a CC to buy a $100,000+ Mercedes or whatever on a regular basis. I remember one news story where Spears’ car was towed for some reason and within a few hours she had simply bought a new one.


84 posted on 06/13/2008 11:53:15 AM PDT by fightinJAG (RUSH: McCain was in the Hanoi Hilton longer than we've been in Iraq, and never gave up.)
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To: Sub-Driver

$100,000.00? Mere pocket change for the McCains.


85 posted on 06/13/2008 11:55:38 AM PDT by Paperdoll ( on the cutting edge)
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To: KarlInOhio

Another thing is the perks that AMEX gives now.

With $100,000+ credit line, which may be monthly spending for the business, you can do a lot with the rewards points.

My wife and I use an AMEX for our business expenses and get week long vacations at some of the top hotels in the world, all from points.

Read this for options with AMEX.
http://flyertalk.com/forum/forumdisplay.php?f=410


86 posted on 06/13/2008 11:56:57 AM PDT by Gvl_M3 (Sometimes, you have to stand up for yourself, even if it doesn't look "Compassionate.")
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To: fightinJAG

Its nice at the end of the year getting the statement for the business card and everything is in a neat row and catagory.
Lets see, $500 office supplies, $1000 Beer, $5000 new hockey equipment...


87 posted on 06/13/2008 11:57:27 AM PDT by Holicheese (Hillary deserves the CMoH for her time in Tuzla!)
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To: Swordfished

Wasn’t he running his campaign off his credit card for a while? Could be something to do with screwy election rules, like why Hillary didn’t end her campaign, just suspended it.


88 posted on 06/13/2008 11:58:51 AM PDT by antiRepublicrat
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To: goldstategop

>His wife does. I guess John married well.<

I think most Johns do. I married two of them. :o)


89 posted on 06/13/2008 12:03:52 PM PDT by Paperdoll ( on the cutting edge)
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To: Sub-Driver
Just another Obama newsletter called the The Hill running another of its series of McCain hit pieces . There real busy there peddling Obama press releases as news.Did you catch the other tired hit piece which declare a huge scandal that the Repubs like Chuck Hagel and Ron Paul and Congress Davis ( NC - the anti war nut) did not support Mccain !
90 posted on 06/13/2008 12:15:35 PM PDT by ncalburt
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To: Sub-Driver

So what? Think of all the membership rewards points she’s racking up!

As long as they pay their bills on time, it’s their business.


91 posted on 06/13/2008 12:16:57 PM PDT by Not A Snowbird (Some people are like slinkys, the idea of them tumbling down a flight of stairs makes you smile.)
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To: Sub-Driver

Without knowing how the McCain’s run their finances, I would assume that this is their way of using someone else’s money for free for 30 days. They can use that 100-200k during the month to invest and collect interest for themselves, then pay their credit debts before they start paying interest on them.


92 posted on 06/13/2008 12:17:16 PM PDT by Skenderbej
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To: Holicheese

Exactly!

I do like having the CC company keep most of my records for me.


93 posted on 06/13/2008 12:20:27 PM PDT by fightinJAG (RUSH: McCain was in the Hanoi Hilton longer than we've been in Iraq, and never gave up.)
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To: NeoCaveman

My bad!

When does football season start again?


94 posted on 06/13/2008 12:21:28 PM PDT by fightinJAG (RUSH: McCain was in the Hanoi Hilton longer than we've been in Iraq, and never gave up.)
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To: fightinJAG

I was wrong. Cindy is related to Bud, not Coors.

Anyway. She’s rich and not only in suds.


95 posted on 06/13/2008 12:22:21 PM PDT by fightinJAG (RUSH: McCain was in the Hanoi Hilton longer than we've been in Iraq, and never gave up.)
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To: Sub-Driver

Not enough info. Are they paying credit-card interest on this $100,000? Or are they paying off the balance before credit charges accrue? If the latter, they’re just getting free use of the money for 30 days.


96 posted on 06/13/2008 12:22:24 PM PDT by ozzymandus
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To: Holicheese

P.S. The CC company also calls me if they think someone may be ripping me off. I’d think that’d be an even more valuable service if I were rich and had cards that I authorized the nanny, the driver and so on to use for various purposes related to being on my staff.


97 posted on 06/13/2008 12:25:07 PM PDT by fightinJAG (RUSH: McCain was in the Hanoi Hilton longer than we've been in Iraq, and never gave up.)
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To: Paperdoll
I think most Johns do. I married two of them. :o)

You married your johns?

98 posted on 06/13/2008 12:28:05 PM PDT by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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To: ozzymandus

As I read the article, it said that they had 100,000 in liabilities. No actual outstanding debt. It may be they have cards that equal the amount of credit of available funds to them. It is hard to know which is which.

I know that when I apply for anything, they always ask for all of my available credit limits are.


99 posted on 06/13/2008 12:35:05 PM PDT by JBCiejka
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To: Minn

:) Very funny!


100 posted on 06/13/2008 1:06:47 PM PDT by Paperdoll ( on the cutting edge)
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