ITunes Store notice
My credit card information is not being accepted in iTunes Store.
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See here: If your payment method is declined in the App Store or iTunes Store - Apple Support
Make sure the credit card is issues in the country for the store your Apple ID is set to. i.e If your Apple ID region is set to the U.S, it will only accept U.S payment methods with U.S billing addresses.
If all is correct contact your bank or credit card issuing company to verify its not blocking the iTunes Store authorization hold.
See here: About payment card authorization holds from the App Store or iTunes Store - Apple Support