If you discard your current credit card and have got a new one, you need to change the details of credit card associated with iTunes & Apple ID. If you have switched to another credit card, you need to follow one of the two methods listed below to make necessary edits in your iPhone/iPad or on iTunes using Mac/PC.
Both methods are quite easy. Let's get into the details of how you can change credit card associated with iTunes using iPhone/iPad.
How to Change Apple ID Payment Method on iPhone, iPad, and iTunes
Step #1. Launch Settings app on your iPhone/iPad → Scroll down and tap on iTunes & App Stores.
Step #2. Tap on your Apple ID.
A menu will appear with three options: View Apple ID, Sign Out, and iForgot.
Step #3. Tap on View Apple ID.
System may prompt you to enter your Apple ID password. Once you enter the password, you will be landed on Account Settings screen.
Step #4. Tap on Payment Information.
On this screen, you can make necessary changes or remove the payment method. To remove payment method, tap on None. Note that if you are using Family Sharing, you won't be able to see Payment Information as it is visible only to the family organizer, who can update or change necessary payment information. Moreover, in many cases, iTunes Store may take some time to authorize the change in payment method; this is just to verify the updated account information.
You can use your Mac or Windows PC to change credit card associated with iTunes/Apple ID.
Step #1. Launch iTunes on your Mac/Windows PC → Click on Sign-In → Enter your Apple ID and Password → Click on your Name.
A drop-down menu will appear.
Step #2. Click on Account Info option.
You will be asked to enter your Apple ID and Password.
Once you enter the details, you will be landed on Account Information page. Below your Apple ID, you will see Payment Information.
Step #6. Click on Edit button next to your credit card number.
Now you can change or remove necessary information; here also, you can click on None to remove payment method.
Step #7. Click on Done.
iTunes may take some time to authorize the change in payment method; this is just to verify the updated account information.