How to Deal with a Declined Credit Card
There are many instances when people’s credit card purchases did not go through as expected. This is due to a number of reasons. As much as you shall attend to those transactions through other options, it is good to know what led to the declination. Here are some of the main reasons why.
You may have run out of credit. This happens to be the most common excuse. Anytime you try to make a purchase that goes beyond the set credit limit, you can expect it to be declined. There is also the fact that you may have stopped making the expected monthly payments. A credit card will remain active as long as you make the necessary payments. There is a minimum amount expected each month under which the card is automatically declined.
The account may have also been flagged. This is done so that you are aware you need to contact them for further details. The most common reason for a flag is to stop fraudulent activities on your account. Your account may have conducted some purchases that were uncharacteristic of you. An example is using the card from a location that is odd, such as on another continent. They shall, therefore, flag the account to keep you safe, so that any malicious activities are stopped. It is possible the account may have been closed. Card issuers reserve the right to close such accounts without notice or express reason. They tend to do so on accounts that remain unused for long periods. You shall discover more about it when you read more on credit card processing.
You could also be using an expired card. You need to first confirm that the card has not expired when it gets declined. You need to then go pick the new card to keep using this service. Another overlooked reason could be that the card is on hold. You may have checked into a hotel, or rented a car with the card to put it on hold. You will be back to using it once you complete your stay, or take back the car.
If you find your card has been declined, you have several options at your disposal. You can use another card to pay and worry about the embarrassment later. You need to find out from the issuer what could have been the cause. The card usually has a number you can call with. When you know which of these reasons was the cause, you can do something about it. You then need to be more cautious so that it does not repeat in future. A bit of financial discipline is a good place to start. This site shall allow you to learn more about how to manage dents and other financial scenarios.