Axis Capital Business Funding Review in jakarta - Reasons Why Your Credit Card Is Declined

Nicolette Teo 9 years ago 0
You may be confident in stepping out of your house and going grocery shopping with no cash in hand only to find out that all of your cards are rejected. Sometimes, there is just a glitch in the system or your card may just have a little scratch in its magnetic stripe. In other times, you discover your account has been frozen.

You may start wondering why and how it is being frozen. Your provider may have a practical reason to freeze your account. Axis Capital Business Funding, a credit loan source for small business owners in the United States identifies some of the primary reasons why your card may be frozen:

1. Fraud Alerts

Credit card issuers can trace fraudulent patterns and recognize dubious transactions through its detection formulas. In most cases, these systems work well at preventing unauthorized purchases, and your account will be frozen when a potentially fraudulent transaction is detected. This is one of the protection protocols of issuers to prevent their clients from possible scams. To prevent false fraud alerts that may freeze your card in the midst of process resulting to lumps of embarrassment, you should contact your credit card issuer before making large transactions.

2. Default

If you haven’t paid your loans or if you are spending more than your limit, it is just default that your issuer freezes your account to prevent you from further digging of your grave. The duration of the freeze may depend on both the card issuer and the customer. It’s unlikely that your account will be frozen immediately after missing a single payment, but it’s a pretty safe bet that your card will stop working after missing two. If you ever miss a payment for any reason, contact your card issuer as soon as possible to explain the situation, and to arrange to make up the payment as quickly as you can. Once your account is in good standing, you should be able to use your card again. Keep in mind that missing payments on your credit cards not only risks a freeze, it also damages your credit.

3. If You Cancel the Primary Cardholder’s Account

There was an instance when one cardholder has her ex-boyfriend as primary holder. When they broke up, her ex went to Jakarta, Indonesia while she enjoys the credit card with high limit only to find out that he had closed the account. Now she is faced with the debts alone and the remaining balance on her death bed.

Most card issuers will still display the account in the user’s online profile for several months, if only so that customers can track the status of their remaining balance and payments.