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I am unable to update my credit card information. I have tried to follow the steps given but what the inforamtion given does not work. This is very frustrating, because this isn't the first time that this has happened.
Please make sure your card meets all the requirements to purchase Spotify Premium.
Also you should take a look at this support site, follow the troubleshooting there, and try a different payment method as a last resource.
Have a nice day!