I'm seeing the exact same thing. It's been a week. I opened a ticket, no response yet.

Clicking the Update Card button allows me to 'view' my account, i then click payment options, I see my cards, they're all current, but there's no button to check and tell the developer account to use an updated card. I see my cards, that's it, nothing else to do to update my developer account and i constantly get that update card button. I've emailed via the web form, they responded once, telling me to do what i've already been doing, the 2nd submission i'm still awaiting a response.