Senator McCain's Wife has over $200,000 in Credit Card Debt at 0% Interest
Republican Presidential Candidate John McCain's wife Cindy, has at least $200,000.00 in credit card debt with American Express. Somehow she was able to negotiate a zero percent interest rate. The amount owed on her credit cards could be as high as $500,000.00. This information has been disclosed by the McCains only recently.
The disclosures reveal that Cindy McCain has two credit cards with American Express at zero percent interest with balances ranging between $100,000.00 and $250,000.00. Accordingly, Ms. McCain owes a minimum of $200,000.00 and a maximum of $500,000.00. Make no mistake, Ms. McCain is a wealthy woman. She is a successful investor and a savvy business woman. She also inherited a substantial sum from her father when he passed.
As a side note, American Express has also issued a credit card to a dependent child of the McCains with a zero percent interest rate. I checked the American Express Web Site, and I was unable to find any applications for a zero percent interest credit card. The balance owed by the dependent is between $15,000.00 and $50,000.00 according to the disclosure.
More interestingly to the writer is that the Republican Candidate for President of the United States disclosed that John McCain has a joint credit card with his wife Cindy that was issued by Chase. The balance on this credit card account is between $10,001.00 and $15,000.00 with a 25.99% interest rate. Assuming that everything is on the up and up, why would the McCain's carry a balance on a credit card with Chase and pay 25.99% interest. This seems like a very high interest rate for someone with good credit. Unless they are paying the balance off each and every month, I don't want this guy making financial decision for me.
There may be a very good explanations for the questions posed above, and I, quite frankly, would like to hear it.
This post is submitted by Carmen Dellutri, Esq. Board Certified Consumer Bankruptcy Attorney. Mr. Dellutri is the founder of The Dellutri Law Group, P.A., and he sits on the Board of the American Board of Certification. Mr. Dellutri is also one of the founding members of www.bankruptcylawnetwork.com, www.mortgagelawnetwork.com, www.debtlawnetwork.com and www.creditlawnetwork.com.
