Change payment method

Re: "I've added a new payment method.

How do i delete the old one and change to the new one on existing subscriptions"

If you have more than one payment method:

you can control which method is tried first, by dragging it to the top of the list.

(If you have an Apple ID Balance amount, that always remains at the top of the list)

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How to delete an Apple ID payment method:

Remove a payment method from your Apple ID - Apple Support