It is a pain when you have to make a transaction and realize that your credit card is blocked by your bank. Nothing is more frustrating than having your request declined if you are highly reliant on borrowing. Such desperate occasions call for desperate measures so that you can finally catch a breath of relief.
A card blocked by a bank can look like two of the following:
- A temporary freeze on your card, preventing you from making transactions
- Holding a certain amount of your credit limit to cover the cost of services not yielded yet
Reasons for Why Your Card Declined
If you have ever had a card payment declined, you might have asked this yourself. Suddenly, your screen might have flashed a credit card-blocked message, causing a stir of panic. Here are a few reasons why that could have happened, owing to which you can get your card operational again:
1. Any Activity that Might Have Raised Suspicions
In case of any activity through your card that raises suspicions with the card provider, the card gets blocked. There are many reasons why your company assumed your activity was malicious. For instance, you made a major purchase, while your history did not hint at any such transactions. Hence, your credit card was blocked by the company.
2. Delay in Footing the Bills
Another reason for the bank blocking your card can be a delay in footing the bills. Usually, one missed payment does not lead to a blocked card. But if irregular payments are your regular pattern, your card might decline more often. In order to avoid such delays, you can always set reminders on your phone and save yourself the pain.
3. Card limit Reached
On lending you a credit card, your bank will tell you the maximum credit limit that you can use. The card freezes automatically as soon as it hits that threshold. It is one of the most common reasons why banks refuse transactions to many people. So, you might want to see if you were at the brink of your credit limit when your payment was unsuccessful.
4. The Card had hit its Expiry Date
One of the straightforward logics behind a credit card company blocking your card is its expiration date. Mostly, the card providers send an automated alert before the card is about to pass its expiry date. If your card has declined, chances are that you missed it.
5. You Used it While Travelling
Spotting card activity from a different country or city can lead the issuer to freeze it. Usually, such actions are an attempt on the company’s part to ensure that there has been no theft or threat.
How to Unblock a Credit Card?
A card block is not always avoidable and might happen to you at some point. So, do not panic when it happens because there is always something you can do about it. You can identify the reason on your own or contact the issuer by calling them at the number listed on the back of the card.
- The first thing is identity verification for the issuer to ensure the card is safe and not exposed to malicious activity.
- Inform your credit card company about the location where the card declined. It might help unblock your card, especially if you tried using it outside your residential area.
- If payments are the reason your transaction was unsuccessful, clear the dues as soon as possible. It is preferable to stay 60 or 70 percent behind your card limit to avoid this hassle.
- Clarify your dues regularly because back-to-back inconsistent payment of the bills can lead to a permanent block. For that, you might have to go through an annoying process of account verification all over again.
How to Unblock a Debit Card?
The process of having your blocked debit card is the same as that of a credit card. You will have to contact the issuer and inquire about the reason why you cannot get your transactions through. They will walk you through identity verification in case of suspected scam activity. Several issuers offer identity verification services online, which is going to help you if your service provider also has it.
In case the reason for failed payments is your card’s expiry date, renew to resume purchasing.
If you are on the road, let your credit card company know about your location. It might assure them that the card is with the owner, and they will unfreeze it.
How Long Will My Card Take to Unblock?
It can take a few hours to fifteen days until your card’s activity resumes. The time depends on the card company and the issue at hand.
You can try negotiating the credit limit with your credit card company if the transaction is unavoidable. Otherwise, we would suggest you complete your purchase using another card and wait for this one to unlock.
How to Unblock Your Bank Account?
Banks hold the right to close your account at any point without notifying you in advance.
If worse comes to worst and you lose complete access to your bank account, you will have to visit the bank for account verification. Before that, you can call their representative and have them look into the matter. Nowadays, almost every bank has an online portal that helps if the issue is not that big.
How to Unblock a Scotiabank Card?
Open your account setting in the app, tap My Account, then credit card account, and Manage. You will find an option to unlock and even lock the card. If the issue remains unresolved, talk to a representative or visit your closest branch.
Summing Up
You might be careful enough with your account and think they will never block your credit or debit card. But sometimes, one tends to miss the slightest details that can lead credit card companies to block it.
Since it is very common for them to do this, you don’t need to fret and rather prepare for it. So, it only makes sense to know what to do in case your card declines for no apparent reason.