When i spoke with one of the chaps from Accounts and Billing on Saturday, he informed me that after a certain number of Failed transaction attempts (Which this error is classified as for some reason) the account is blocked from processing any more for 24 hours. This is why he provided me with 24 hour sub in the hope that it would resolve itself. It didn't, obviously, but people should know that if you try more then a handful of times all transactions on your account will be blocked for 24 hours.
Whatever they have done to cause the first batch of failures is on them, and the resulting issues are on them. Nothing we have done should be taken into consideration because it's a BioWare f*ckup, and they should have fixed it by now.