Billing Payment Failed

[SharleneEllapp]

Hi

My billing payment failed on on of my credit cards. I added a new card and re tried the payment and it failed the 2nd time. 

I received an email saying it will be tried again tomorrow. 

1. Why did it fail when I read tried today on a card with funds. 

2. Will my store be frozen if the payment fails for the 3rd time. 

Thanks 

Sharlene