You've spent months scouring the Internet for the perfect washer and dryer combo to complement your newly renovated laundry room. Finally, you've located what appears to be the perfect match at the right price.
Suddenly the deal is off. Your credit card won't go through, and you have no other immediate form of payment to use before the sale ends.
It's happened to many of us: You go to close the sale or pay for a meal and are told: "This card's been denied. Do you have another form of payment?"
Don't think that this is always a result of sheer financial irresponsibility.
Here are factors that could trigger a credit card rejection, along with tips to remedy the problem.
1. Your card is maxed out
Going over the limit can have negative consequences, both in the form of fees and denials.
And it can also damage your credit because of the utilization factor, which accounts for 30 percent of your FICO score.
2. Fraudulent purchases
Whether suspected or reported, they both prompt freezes. They could also result in the closure of the current account, followed by the issuance of a new card. To get to the bottom of it, promptly contact your credit card issuer to validate the purchases.
3. Authorized user dropped from the account
If you are an authorized user on a credit card account, and the person whose name is on the card revokes your rights or completely pulls the plug, you'll be cut off. You can also lose temporary access if the card has been reported as lost or stolen.
4. Transactions holds
Some transactions, such as lodging, rental car or other travel reservations, could mandate a hold be placed on your account. Assuming you are cutting it close to the limit, your credit card could be rejected at a point of sale until you've paid the final bill and the holds are lifted.
5. Foreign/international transactions
Foreign transactions can raise credit card companies' suspicions about fraudulent purchases. In fact, it doesn't matter if you're in another country or here in the U.S. and making a foreign purchase online.
6. Unusual purchases
If you make a purchase that seems odd based on your prior behavior, it may be flagged by the credit card company.
7. Delinquent accounts
Ignore the balance due long enough and the magic plastic may suddenly lose all of its powers; it just depends on the issuer and your history with the company.
8. You're past the expiration date
If you didn't get a new card in the mail before your card's expiration date, they may not want you as a customer anymore. But don't just ignore it: You could be a victim of mail fraud.
9. Transposed numbers
Sometimes you're asked to provide a ZIP code or the security code on the back of the card to confirm your identity at the point of sale. Mix up any of the digits and a rejection will follow. You can always retry, but enough errors will prompt a lockout until you’ve contacted the card company.
10. A closed account
The credit card company can close your account for all sorts of reasons, and doesn't have to give you advance notice. CreditCards.com said:
Even if you're not in default, an issuer can boot you at any time. The most common reason is that you're not using the account often enough.