Billing Issues-App Store-iPhone 4

Although all my of information has been entered correctly, the App Store on my iPhone continues to reject my card number (VISA), as it supposedly doesnt match my banks (BofA) information. However, this cant be on account of my bank account shows a pending transaction from itunes!
Clearly itunes is capable of accessing my bank account, just as it had done without trouble for the first few weeks of using my iPhone. Is it true that the App Store (USA) only accepts credit cards?
If so, how cant be? I refuse to use a credit card, there must be another way.
Does anyone know how to help?
macbook Mac OS X (10.5.8) I dont really like it that much.