Well the good news is, if your new updated card has the same number as your old expired card, there's no need to update it. It will work fine with a new expiration date. The same thing with the 3 digit security code.
If the new card has a different number then you can go to manage card settings
, where you can add new cards, delete any old cards and select which card you want to be your primary card which is where your payments are deposited to.