This might indicate that we weren't able to charge your credit card, or it may also indicate that you are trying to stream the movie outside of the U.S. Note that for content security and licensing reasons, a credit card is required to create an account. It is to make sure the content is secure and not shared. It can also be used in case future purchases or movie rentals are desired. Think of it like creating an iTunes account for user identification and future in-app purchases.
If you are within the U.S. and you get the "Please Wait" error, please double check your card number, expiration date, CVV number and billing zip code you entered at the time of your account creation. You can edit these under Account.