As seiler says; You plan is more than likely still going through the approval process. The time needed for approval can vary greatly, from a few minutes to a few days. A lot depends on whether or not the DreamHost fraud detection system tags your application for further checks.
When you log-in to the panel, is there anything displayed on the left side of the page like "This account is currently pending approval."?
Save [color=#CC0000]$50[/color] on DreamHost hosting using promo code [color=#CC0000]SAVEMONEY[/color] ( Click for promo code details )