US President Barack Obama insisted that he really has been paying his bills, after his credit card was turned down at a posh New York restaurant. First Lady Michelle was forced to pick up the tab following the hiccup.

Obama revealed the slip-up as he was signing a new anti-fraud order into law on Friday at the Consumers Financial Protection Bureau. The law will make chip and pin technology compulsory on all federal government credit and debit cards, the Huffington Post reported.

"It turned out I guess I dont use it enough, so they thought there was some fraud going on. I was trying to explain to the waitress, No really, I think that Ive, uh, been paying my bills. So even Im affected by this", he quipped.

The restaurant incident was not the first time that Obama has experienced rejection. In August, the president was turned down by at least three exclusive New York golf clubs while visiting the area to attend an aides wedding.