I am not able to update my purchases. How do I fix this?

It tells me that my billing account information has a problem from the previous purchase. The last thing I bought was an in-app purchase and I don't want to make a new Apple ID as I am very aware that I would have to buy my purchases all over again. I have tried changing my credit card info and I wanted to know how can I reset it or probably change this error?
Help!
X

It sounds like there is an issue with the Mac itself.
Use the verify disk A5 in troubleshooting.
http://pondini.org/TM/Troubleshooting.html
Even if you cannot connect by ethernet, at current location.. you can simply disconnect the TC from the network and bring it to the Mac and plug it in by ethernet. The TC can be reset if you haven't got a suitable current setup (save previous setup before you change it) and run just as backup device.. do the backup and then return it to the network.
If this is just a standard incremental backup.. then something has broken. The issue is not the TC pe se but failure in hardware somewhere.

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