Unable to make purchases "credit card has expired"

I am unable to make purchases using my Apple TV. I receive an error message that says "your credit card has expired. Go the the iTunes store on your computer and update your Billing info."
However my account is up to date. My credit card expiration date is years in the future. I make purchases all the time through iTunes store (music, apps, etc..)
Any thoughts?

I have the same problem. My info is updated. I can purchase music from my apple tv, and from iTunes. I can also purchase movies from the iTunes store and transfer them to apple TV, but unable to purchase directly from apple tv.
One fix in the short term is to purchase a movie from the iTunes store and then transfer it to the apple tv. It's a longer process, but gets the job done.

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