My I phone doesn't allow me to update my billing information. call somebody tell me what I doing wrong.

My I phone 4S doesn't allow me to update my billing information. When I entered the new information he keep the old one. After I finished entered the data I press DONE and  I still have the old data.
Does not accept my new credit card information. Can somebody tell me what I doing wrong and how to fix it.
Thanks for your assistance.
papasam 1969

Did you follow these instructions:
http://support.apple.com/kb/ht1918

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