I put a snipe on the above item that was higher than the winning bid but I didn't win, please explain.

Hello,
We researched what occurred when we placed your snipe. It appears that eBay is prompting you to update your credit card with them (not with us - we don't need it). If you log into eBay and fix that, we can bid for you.
Please let us know if we can help further, and thanks for taking the time to write in.