automatic renewal

Yes. If the subscription has recurring billing turned on, the payment method can be changed before the renewal date.

For a Microsoft subscription with recurring billing:

1. Sign in to Services & subscriptions at https://account.microsoft.com/services.
2. Find the subscription.
3. Select Manage > Change how you pay.
4. If the new card is not listed, select Add a new way to pay and follow the prompts.

Important details:

• If Change how you pay does not appear, recurring billing might be off. In that case, the subscription has already been paid through the end of its current term.
• If the subscription is prepaid, the payment method for that subscription cannot be changed. Payment info can still be updated for buying a new subscription after the prepaid term ends.
• For Microsoft business subscriptions paid by credit or debit card, recurring billing is on by default, and the card on file is charged each billing period until the payment method expires or the subscription is disabled.

If the current card will be closed before spring, updating the payment method in advance is the safest option to avoid any interruption.

References:

• Change your Microsoft subscription payment method and options
• Pay your Microsoft business invoice by using a credit or debit card