Why was my payment declined for my AppleCare+ coverage?

I received a notice that my debit card failed process my insurance payment. I checked to see whether my bank has an issue - it would show as declined and a declined payment doesn't show. This is the same card I have made previous payments with.

I have tried to simply add the debit card again but a message indicates that the card is already on file.

[Re-Titled by Moderator]