regarding payment issue

I have received the following message today.

although I have not changed my credit card details. but it says to update my card details. could you please check this issue? coz my card is new and it will expire in 2024.

On 2021/01/26, we attempted to charge you for your 50 GB iCloud storage plan, but there is a problem with your payment information. Your account will be downgraded to the free 5 GB storage plan if we cannot successfully renew your subscription.