How do I change my credit card information since the card you are currently using has been cancelled due to fraud
How do I change my credit card information since the credit card you are currently using has been cancelled due to fraud.
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See this for the instructions on how to edit your payment information.
Change, add, or remove Apple ID payment methods - Apple Support
As a side note, I had two cards canceled in the last two years due to fraud and what I did was to add the new card before trying to delete the old card and that worked for me.