How to update account payment information

Click here, follow the instructions, and see the Learn More section.

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See this article for information about updating payment methods on various platforms (iPhone, Mac, etc.): If you need to change or update your Apple Account payment method - Apple Support

Also note:

1) ”If you change your address, the credit or debit card information that you use with your Apple Account might be automatically updated by your financial institution, and you don't need to take action.” (More about that here Protecting against fraudulent Apple.com c… - Apple Community )

2) “If there's an issue [such as you having a subscription or being a Family Sharing Organizer], add a new card first, then remove the old card."