Apple does not decline the credit card, that is done by your financial institution. Log into your iTunes account from your computer and verify all the information there, including the account number, expiration date, CSV code, etc. Make sure the address you have listed in the account matches exactly with what your credit card has on file for your card as well.
I'm not familiar with the kik app, but I'm guessing this error is because you cannot update it? Once you have verified all of your account info, you may have to sign out of the iTunes store on the phone and then log back in again. If it still errors out, you will have to call your bank/financial institution to determine the problem.