This probably just makes him seem like an ‘average American’, someone that folks can relate to. But it does call into question his financial savvy. There may not be a connection between how a person handles their own finances and how they handle the finances of a state or the nation, but it does provide some pause.
Walker incurred one credit-card debt with Barclays in 2014, according to the financial disclosure form, and owed between $10,000 and $15,000 at a 27.24 percent interest rate as of July 2015.
…One of Walker’s credit-card debts, to Bank of America, dates back to 2011, his first year as governor, according to the disclosure form. Walker currently owes between $10,000 and $15,000 on that one, with an interest rate of 11.99 percent.
He does appear to be paying off debt, perhaps that is how he used his $45,000 book advance, since he had more than $50,000 in debt on the Bank of America card last year and “$5,000 to $50,000” on a Sears MasterCard that doesn’t show up on his federal disclosure forms.
His credit card debit likely hurts his credit score (high utilization ratio). Nonetheless, he has a $140,000 income and appears to be paying down that debt. One imagines he could get a card that offers 0% balance transfer (and even $0 in balance transfer fees).
We don’t know which Bank of America or Barclays cards he has. At least he’s savvy enough that he doesn’t have the worst credit card ever.
For someone that doesn’t pay their cards off in full each month the most important issue is the fees that cards will charge. Generally it makes sense to forego rewards. Which is a shame because it appears as though he has significant credit card spend on which he could be earning rewards, points that could give him and his family a nice trip to relax after his campaign for the Republican nomination for President.
On the other hand, while I’d prefer to see someone more shrewd with personal finances, perhaps on net this cuts in his favor since it demonstrates he’s the rare politician who appears not to have used his office for personal enrichment.
And unlike Donald Trump, he hasn’t filed for bankruptcy four times so he’s trying to make his creditors whole. Once he goes on the speaking circuit and boosts his income he should be able to turn his focus to more shrewdly earning credit card rewards.