Good day to you cornishkerry1,
Depending on the status of your old iPhone, and whether you’re able to unlock it and remove the cards, the steps under section, ‘If your device is lost or stolen’ may help. However, as noted, you may need to call your card issuer to remove cards from Apple Pay - Change or remove the payment cards that you use with Apple Pay
Here are some reasons you may not be able to remove a payment method from your Apple ID - If you can't remove a payment method from your Apple ID
You may also be able to use the company’s app to remove and re-add passes, rewards cards, event tickets, etc - Remove passes from Apple Wallet
Thanks.