Figured it out on my own last night. Posting here for anyone who finds this post in the future. I had to redo my credit card. Although the credit card # was already there when I went into the billing info, I had to just re-enter it all again. I'm not sure, but I think the expiration year was missing. In any event, start all the way from the begining with the billing info. Sign in, go into your account management and re-enter the billing information. That's what did it for me. I also had to reset my password for I assume a different issue. My password (which I KNEW was correct), wasn't letting me sign in for whatever reason. So I reset it with a new password, then went on to re-enter my billing info.
So if just re-entering the billing information alone doesn't work, first try resetting the password, log-in to the network, and then enter the billing information all over again. Probably just need to redo billing info, however these were the exact steps that I followed, and it worked. Don't think the resetting password is needed, but mentioning it just in case.
DIDN'T WORK I DID EVERYTHING FROM UPDATING MY ADDRESS TO UPDATING MY CREDIT CARD INFO IAM REALLY GETTING FURIOUS MY MUSIC UNLIMITED NEEDS TO BE RENEWED AND IM TRYING TO GET A DLC THIS IS PISSING ME OFF PLAYSTAION GET IT FIXED NOW !!!!!!!!
I am getting the same thing when trying to add funds to my wallet as well (but with the use of a Sony PSN card). I havent been able to add funds since yesturday either. I find to really annoying that this always seems to happen, true that the issue gets resolved within the day, but really now?
YouTube/KaptinFathead - http://www.youtube.com/user/kaptinfathead?feature=results_main