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Before creating CloudFront, you must open a case with AWS Support under "Account and billing". I have experienced the same error in the past, but I was able to resolve it by contacting AWS Support. Inquiries under "Account and billing" can be made free of charge. https://docs.aws.amazon.com/awssupport/latest/user/case-management.html
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I have seen this when the payment method has not been verified. Such as go to the payment section in billing and make sure you have verified the credit card.
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