Sometimes you get that error code but the currency still goes through. Double check at commerce.microsoft.com
You could also try redeeming the codes on the console itself and then post the 8 digit error code you get for further assistance.
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Here is the error code: 80122727
Ok, I've researched the code online and it seems as though the code you received may be expired. Please contact phone support for further assistance and confirmation of this.
If you live in North America dial 1-800-469-9269