President Barrack Obama faced a dilemma of a different kind last month. His credit card was declined in a New York restaurant.

The incident is told by none other than President himself, CBC News reported. He was speaking at the Consumer Financial Protection Bureau. The event was aimed at announcing a new government plan to tighten the security for debit cards that transfer federal benefits like pension payments to millions of Americans.

President himself narrated the incident while finalizing the new policy to increase security level in financial transactions to reduce the problem of identity theft which is a recurring problem across the nation. Justifying the new policy, President quipped that even he is get affected by this.

That is when he detailed how his credit card was declined last month in full public view when he gave the same to settle a restaurant bill. The waitress returned with the card saying that it is being declined. President even tried to convince her that he is paying his bills on time!

Finally, first lady Michelle Obama fished out another card to save her husband from the embarrassingly hilarious situation. This has probably happened because President is not using his card on a routine basis and bank's policy to check transactions on such obsolete cards got applicable in this case.

The restaurant is run by a former staffer at Blue Hill at Stone Barns, where the first couple enjoyed a meal of burrata with salsa verde and charred bread when this incident happened, as told by CNN.

Mr Obama is famously known for paying money for the food and other things himself when he is out, in contrast to his prestigious position. As per historian Thomas Whalen of Boston University, the White House occupants are provided for everything and don't need money actually. The Secret Service Agents who are with them always keep some cash which they can borrow anytime. Unlike his predecessors, President Barrack Obama is spotted and photographed several times paying for food with cash, as told by BBC.