Reasons why your credit card may be declined

Reasons why your credit card may be declined

Holding
up the checkout line because of a declined credit card may feel embarrassing,
but it’s actually a common experience. Even if you may have enough funds, there
are various reasons why your card may be getting declined. Let’s explore some
of these scenarios to have a better understanding of how your credit card works
before hitting that checkout line.

If
you don’t have enough funds or exceed your set credit limit, your transactions
may register as declined. Often, people find themselves in this situation when
they are unaware of their credit card balance or how much they’ve spent. Before
you use your credit card, check your current balance on your issuer’s mobile
website or app so you can budget before you buy.

Fraud
might be suspected if you spend outside of your normal habits, causing a
cancellation of your card. Contact your credit card
company and any other appropriate parties immediately if you’re suspicious of
fraud. They can help you close your compromised account and take the
appropriate steps regarding the suspicious transactions. Your credit card
company will issue a new account number. This will help your legitimate
purchases to process and stop actual fraudulent transactions.

If
your credit card is expired, you may receive the declined message. Avoid your
card expiring by watching for a replacement card in the mail before your
expiration date. Your First PREMIER® Bank credit card is issued seven to ten
days before your old card expires.

Your
credit card issuer may choose to suspend or cancel your card if you miss
payments. Try to catch up on late payments to prevent suspension as well as
late charges and damage to your credit. To avoid missed payments, create a
monthly budget and setup account reminders. Knowing your limit and spending
within your means will help you avoid missed payments and denied transactions.

Stay on top of your credit balance with complete access to your credit card online any time and utilize payment reminder so you avoid late or missed payments.

This information is presented for educational purposes only. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

The post Reasons why your credit card may be declined appeared first on Premier Perspectives.

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