How do I change my credit card information for iCloud?

This document explains how to add a payment method to your Apple ID on a Mac, Apple mobile devices, or PC. Click here --> Add a payment method to your Apple ID - Apple Support

To find out how to remove a payment method, and what to do if you can't remove your last payment method or use no payment method with your Apple ID, read this article --> Remove a payment method from your Apple ID - Apple Support

- Ongoing subscriptions and Family Sharing organizers must always have a payment method present. To edit the cards used for those you may need to first add the new card and make it the primary payment method before removing the old card (see: If you need to change or update your Apple ID payment method - Apple Support ).

I can confirm what Limnos is saying about using Family Sharing. If you are the organizer, you will have to add the new card before you can remove the old card. I just had to do this myself.

How do I set up my credit card

Read Limnos reply which is directly above my reply.