To those of you with the same issue, just log into one of your characters (doesn't matter which one) and the AC will be there.
Bought AC through the MS store, added my paypal account, processed successfully and money taken out of my bank account.
AC is not on my account.
Yes, I made sure to use the same MS account when purchasing that my game account is connected to.
Is there a time delay between purchasing and delivery?
Yes, I've logged out and exited the game many times. Still no AC.