With credit lines being restricted and creditors become more conservative with authorizing purchases, the decline rate on credit card transactions appears to be rising. This is based on opinion as since approval/decline statistics are non-public information, however it does appear to be the case.
This is effecting the top cardholders also. Take multiplatinum Rapper Fabolous whose cards were declined one after another while enjoying a night out. Reportedly card after card was declined, up until the fifth credit card failed, when a member of his entourage attempted a diversion by starting a fight.
Fabolous Feeling Credit Crunch, Cards Declined During Night Out? | BallerStatus.com | NEWS
American Express who was previously known for never declining any reasonable transaction, has been known to be declining transactions frequently now.