Nobody responded so I guess nobody else had the problem
After 3 days on the phone with Netflix who kept telling me that the Postal Code I entered didn't match the Postal Code for my card and with Mastercard who kept telling me that Netflix was at fault, I finally got the problem solved.
A bright bulb at Mastercard finally admitted that they had the postal code entered as XNXNXN - all jammed together. They corrected it to XNX NXN with a space and when I called Netflix to unsuspend my account, it finally worked.
There are a couple of things wrong with this whole ordeal.
Who was the idiot who lumbered us with a difficult to type postal code. In the internet age, there are many ways to enter the postal code. Some sites deal with it in code, but others like Netflix expect it to be in the proper format.
I talked to several agents at my bank, mastercard and netflix and a few of them told me this is not an isolated problem with credit cards.
Anyway its working now and with luck will continue to work.