Perhaps one of the most embarrassing things a Michigan shopper can experience is having a credit card declined at the checkout. He or she may become flustered, ask the cashier to run the card a second time and finally realize the card cannot be used for this purchase. This may mean the customer will rummage through pockets or purse looking for money or another credit card to use, but more often, it means the customer will leave the purchases behind and exit the store in humiliation.
However, what are the next steps? A declined credit card can mean serious issues with one’s finances, and it is not wise to simply go home and try not to think about the embarrassing incident in the checkout line. In fact, even if the consumer is well aware that the declined card means he or she is over the limit, it is a good idea to examine the account as quickly as possible. For many, this means accessing the card’s online account to see if there may be fraudulent purchases. If this is the case, the consumer should report it and cancel the card at once.
In many cases, however, the decline of the credit card is the result of the consumer being over the spending limit. This may be a fix as simple as organizing one’s finances and creating a payment plan. On the other hand, if declined purchases are becoming a more frequent pattern, it may be time to investigate a more long-term and complete process of debt relief.
Being over the limit on a credit card means paying extra fees in addition to what may be an outrageously high interest rate. It may feel to the consumer as if no payment is enough to get out of the hole. By speaking with a knowledgeable attorney, Michigan consumers may find answers to their debt relief questions and a course of action, such as bankruptcy, that may provide hope for a brighter financial future.