Why do I get an error code 5002 when trying to redeem an iTunes gift card?

I have an iTunes gift card and everytime I enter the redemption code I get an error code 5002.  Sure would like to be able to redeem my card.

This alert is often the result of an issue with verifying your billing.
Quit iTunes.
Open iTunes.
Test the issue.
If it persists, sign in to store.apple.com using your iTunes account
Click on Change account information
Modify or remove your credit card information.
Click Continue.
Test the issue.

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    If it persists, sign in to store.apple.com using your iTunes account
    Click on Change account information
    Modify or remove your credit card information.
    Click Continue.
    Test the issue.

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