“Nicolas Cage is a perfect example of massive overspending,” says Dara Duguay, financial literacy consultant and president of Duguay & Associates. Despite earning $40 million between June of 2008 and 2009, Cage’s spending led to $14 million in tax debt and foreclosures on four of his homes. Therefore, his chances of getting a new credit card, well are slim.
Nasdaq.com mentions that foreclosures, bankruptcies and tax liens are red flags that will lower your credit score. Also, it is advised to live within your means. Other celebrities mentioned who probably won’t get a credit cards these days:
* Wesley Snipes, actor who refused to file tax returns
* Maria Gabriela Perez, Beverly Hills salon owner arrested in 2010 for allegedly fraudulently using several of her famous clients’ credit cards.