I finally figured out how to bypass this error and successfully submit my app. Here is what you have to do if you already have armv7 included under build settings > valid architectures:
- Run the app on your phone with the usb cord pugged into the computer.
- Once the app has successfully played on your phone, unplug your phone.
- Now go to product > archive > validate
- Once you have done this, click submit to app store and your app should submit just fine.
Hope this helps!!