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Even President of United States of America has embarrassing moments with credit cards. Barack Obama had one last month. restaurant cashier told him she couldn't accept his credit card. He was having dinner at expensive restaurant in upmarket area of New York. The President told reporters: "I went to restaurant during U.N. General Assembly, and my credit card was rejected….It turned out, I guess, I don't use it enough." He added that cashier thought his card was being used for illegal purposes. He explained that he did not have enough cash to pay for restaurant bill. Luckily, his wife paid bill using her credit card and they could leave the restaurant.

Mr Obama told his credit card story on Friday while he was signing new law to protect consumers from identity theft. In particular, new law tightens controls on credit cards. Obama said: "Even I'm affected by this." Identity theft is growing problem all over world. Officials in USA think that 100 million people have been affected in past year because someone stole their private information online. new law is called "BuySecure". It wants credit card industry to change from cards with magnetic strips to those with microchips and PIN numbers. Magnetic strips are old technology. It is easy for hackers to read them and put information on other cards.