When I try to change my payment info like my CC# the error message tells me that my payment info doesn't match my banks records which is not true. I simply need to update my CC info because I lost my old card and had to get a new one. itunes is not allowing itself to take my money and you are losing it as a consequence.
For info we are fellow users here on these user-to-user forums, you're not talking to iTunes Support nor Apple.
You have exactly the same layout (spacing and format) on your iTunes account as the card is registered to ? And have you tried just logging into your account (not when trying to download anything), selecting 'none' to remove the existing card, exiting the screen, and then entering the new card from scratch ?
I have done all of that and it continues to tell me to enter a US credit card (which it is) and a matching billing address (which it is).
I have managed to delete my old CC from my account but it will not let me add my new CC#. Instead it says the bank's records don't match.
If the format and spacing match exactly, and it was issued by a US bank, then from iTunes Store: My credit card's security code or zip code does not match my bank's records - Apple Support :
If the issue persists, contact your credit card company and verify that they and any company they use to process credit card authorizations have the correct information on file.
And you could try contacting iTunes Support : http://www.apple.com/support/itunes/contact/
Why can't I edit my payment information on itunes?
