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This issue has been resolved by Envato Market Help Team.
Here is the response from Envato just in case any user encounters this problem in the future:
I've re-enabled your account, so you should be good to go. However, there was an issue charging your credit card internally, so you will need to use Paypal to complete your purchase.
You will still be able to use your credit card to pay directly through PayPal (even if you do not have an account) by following these steps:
– On the Checkout page, select PayPal as your payment option
– Click “Checkout with PayPal”
– You’ll be directed to the login page where you just need to select “Pay With Credit or Debit Card”
Use this screenshot as a guide: http://envato.d.pr/EwL6/3wXSdqlB