Team Foundation Service: user account permission and authorization

I am working with online Team Foundation Service and got the message below while trying to connect. The "sign in" window was not giving me the possibility to update the credentials..

TF31003: Either you have not entered the necessary credentials or your user account does not have permission to connect to the Team Foundation Server at https://xyz.visualstudio.com/. Ask your server administrator to add the appropriate permissions to your account

I used Visual Studio 2012 running on Windows 8

 

Another possible message is:

TF205020: Could not connect to server ‘xyz.visualstudio.com\DefaultCollection’

or

TF30063: You are not authorized to access xyz.visualstudio.com

 

Solution:
Clearing all the cookies in IE resolved the issue for me. (Internetoptions -> General -> Delete...)