We trust credit cards so much that we do not bother to check whether we are carrying any cash even when are going for shopping or dinner.

Mr and Mrs Sharma after celebrating their 10th anniversary at a 5-star restaurant, a waiter came with a shocking statement that the credit card transaction has failed and requesting to give another card or make cash payment. Luckily, Mrs Sharma was carrying another credit card which saved both of them from facing embarrassment.

Here are 5 reasons why your Credit Card transaction can fail:

1) Credit Limit

Most of the time credit cards are shared between couples, friends and siblings this may be to earn extra points or earn cash back. In such cases, there are chances of exceeding the credit limit. If one of them has spent the entire balance, the other might not know. This is particularly the case when add on cards are used.

It is better to keep a track of what is spent in a month using your credit card.

2) Incorrect PIN

If you have used the incorrect PIN after swiping the card, the transaction will be declined. It may so happen when the card is not being used for months together there maybe some confusion of PIN with other card PINs

3) Outdated card

When you fail to notice that your credit card has expired one and when you hand over the same card, the transaction will be failed for an obvious reason. Banks usually send the new credit card ahead of expiry. Do not fail to activate it.

4) Protection and Safety

If your card is damaged and your CVV number is not in good condition, the electronic machine will fail to read the information of your card.

5) Connectivity

The transaction can be declined due to server issues or computer lines are down. The vendor's machine may also have some reading issues. Check with your merchant in case of the decline in the transactions.

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