WINNER!!!
I've just had this same issue.
Difference is that I fixed it... hopefully (at least I can log in again now)
Well, this is the Station update's fault. I'd advise everyone who pays with a card to go look at their account payments before the date is up, otherwise you'll be screwed.
The updated interface nicely still listed the card that I use to pay for mxo. Kinda...
When I clicked to pay for the subscription to get it going again, I got that error, could not complete payment.
So I looked at my card details specifically and there wasn't anything there!!! Just the name of the card (SWITCH: ****9385 - not the actual numbers, not that it matters mind...) and none of the actual details for my card.
Equally, that interface (although looks nice) isn't geared to people in other countries, we don't have Provinces, states or anything like that in the UK guys, way to stay ahead of the game, to call a required information field something we don't even have.
Anyway, after trying various moving around of my address, it's all gone through fine and I can use my account again.
Equally annoying with this is that I couldn't use the chat support as all I get coming up every time is the email confirmation, which I've accepted and done already (again this night).
So yeah, not only was my account buggered but I couldn't even get help with it there and (oh yeah!) and I couldn't post on the boards because you're made into a "new recruit" when your account expires and can't post.
So well done SOE for your 5 star service there. The word that comes to mind is crap.