My account balance was deleted and now I can't purchase anything from the iTunes Store

I redeemed a $100 gift card about a month ago, used barely any of it and now the balance has been deleted from my account. I added another $40 in gift cards today and still cannot purchase anything from the iTunes Store. A red message pops us telling me to contact iTunes Support. How can I:
1) Recover my account balance?
2) Make a purchase?

Try logging out of your account on the iPad by tapping on your id in Settings > Store (Settings > iTunes  & App Stores on iOS 6) and then log back in and see if it then works.

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