Hello Jasmine Boby
Thanks for your question
This error happens when you need a new payment method or have updated the payment method recently. Or you have added a spending limit.
Looks like you need to add a credit card to your subscription to deploy that VM you want to.
See similar issue: https://learn.microsoft.com/en-us/answers/questions/1305434/how-to-solve-this-subscription-spending-limit-issu
You can mark it 'Accept Answer' and 'Upvote' if this helped you
Regards,
Abiola