Payment declined but flight booked - Should I call them up and advise them?

I recently booked a classic awards flight business to Europe. The charge for Taxes was about 1100 but I received a mail saying the payment was declined however I am confirmed on qantas and emirates. Should I call them up and advise them ?

I’m not sure why you are even asking.  Despite the confirmation any airline reserves the right to cancel a booking if payment has not been cleared. If you don’t clear this up with the airline you could lose your booking.

I assumed so just saying