Hi Dev,
Thanks for reaching out to Microsoft Q&A.
You can change the name, billing address, or expiration date for an existing credit or debit card. However, you can't change the card number. If the account number has changed, replace it with a different payment method, and then delete the old one.
When you replace an existing payment method, you can add a new one, or use a payment method that’s already in your account. You can replace the payment method in the Microsoft 365 admin center. However, the steps to replace a payment method depend on the type of billing account that you have. Find out what type of billing account you have.
- Replace the payment method for a billing profile (MCA billing account types only)
- Replace the payment method for a single subscription (MOSA billing account types only)
- Replace a single payment method for all subscriptions (MOSA billing account types only)
Reference document- https://learn.microsoft.com/en-us/microsoft-365/commerce/billing-and-payments/manage-payment-methods?view=o365-worldwide&source=recommendations#replace-a-payment-method
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