Scott Walker Struggles with Credit Card Debt
Presidential candidate and Governor Scott Walker may be like a lot of other Americans who struggle with debt.
According to his financial disclosure form released Monday, Walker has a Barclaycard credit card with an incredibly high interest rate of 27.24%. He has had the card since 2014 and has owed between $10,000 and $15,000 on it.
The report shows he has a second credit card with debt between $10,000 and $15,000 from Bank of America with an interest rate of 11.99%.
In addition to the credit cards, Walker has taken out student loans of more than $100,000 for his two college-aged sons.
Walker campaign spokeswoman AshLee Strong issued a statement that read “As a public servant, the governor gave back hundreds of thousands of his salary to the taxpayers, and he is a regular American with two kids in college and a small amount of credit card debt.”
John Oldshue, founder of LowCards.com, gave this explanation on the very high interest rate on the Barclaycard credit card: “The average credit card interest rate is just under 15%, so if someone is paying 27%, it typically means they may have had an average credit score when they applied for the card or incurred some type of penalty for a late payment along the way.”