I want to renew my 200GB for $2.99 for my iCloud storage

Hi, just make sure you have enough credit in your app store. You don’t have to do it manually, it will automatically renew every month- provided you have the balance in your account.

You can only pay monthly and not yearly and the deduction will be automatic and your plan will be renewed on its own. Once renewed apple will email you the receipt.

Hope this helps