It’s not uncommon for credit card customers to be notified that their cards have been declined during the course of a purchase. In many cases, customers panic and worry that their cards have been cancelled. However, in most cases, card issuers have put a temporary hold on the accounts. There are several different reasons this might occur.
The public affairs director for Chase Card Services, Steve O’Halloran, suggests fraud concerns are one of the biggest reasons consumer credit accounts are put on hold. If this is the case, you simply contact the issuer, prove your identity, and wait to charge until you’ve been issued a new card.
One other potential problem is that your credit line may have been decreased. This has been the case for many since the economic downturn began. To reactivate your card, you must pay down your overall balance.
One final problem you may have is that your card could have expired. If that’s the case, just contact your creditor and request another card.
It’s important to note that a suspension will be noted on your credit report, but it is not factored into your overall score. If you do find yourself with a declined card, just contact the credit card company to discover the real problem before you jump to any rash conclusions.