I have been watching this, and the other two related threads on this subject, for several days since I got locked out of my iTunes account after attempting to download a free App from a replacement iPhone 4.
I am not satisfied with the support response I am getting from Apple and based on the postings on the subject, neither are many other people.
The fact that the number of combined views of the three threads exceeds 40,000 indicates that this is a very widespread issue.
I have started a thread in the Macworld 'Playlists' forum (there is no iTunes forum)
http://forums.macworld.com/index.php?/topic/130478-itunes-erroneously-declining- payments/ in the hope that the issue may be picked up by the influential Macworld editorial staff and given greater visibility.
It would clearly help the cause if others added their comments to the thread to reinforce the point....