Ya, but the iTunes account that you use is where the credit card info comes from, I'd check that on your computer, you have to have a valid account on that to download.
I had the same problem. The fix was to log into iTunes and go into my account information. I had entered my address and typed in "TX" for my state instead of using the pulldown which then changed it to "TX - Texas". I saved the info and tried again to rent a movie and it worked.