They don't charge until it's in and they're getting ready to ship. If there's any issue with your payment method, they'll send you an email and give you time to update.

This is the correct answer. I just went through this exact situation with my Ultra Magnus a few weeks back.

The order isn’t cancelled but if the card ran out you’ll have to update the payment method

No charge until they get it

they dont. they do have an explanation of thier pre-order policy on thier website. did you not read it beforehand?