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A slight clarification to the above.
Doing what is described above will allow you to use your $50 (or whatever it is) credit in the Connect Store, but you won't be able to spend any more; doing so requires a credit card whose billing address has to be in the US.
If you do want to spend more in the Connect Store, the only way to do so is to use Connect Gift Certificates. There are people in this forum, such as "Leaping Gnome", who very kindly offer to buy these for people outside the US in return for PayPal payment. Send him a PM if you're interested.
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