Try putting the SD card into a PC and see if it's recognized. If it isn't, the SD card is bad. If it is recognized, try turning the phone off, putting the SD card in, then starting the phone.
If the card is bad, and it's a SanDisk card, go to
SanDisk microSD Tech Support. There's live help in the upper right corner.
If it's a different manufacturer, contact them and see if they'll replace the card.
If the PC recognized the card but the phone doesn't, the card port in the phone will probably have to be replaced.