You are probably fine. As for the email, there is the remote possibility it is phishing.
Scams (e-mail, text messages, and phone calls) are getting very good at closely imitating true Apple communications. Always be cautious. Here are some guidelines:
Identifying legitimate emails from the iTunes Store - http://support.apple.com/HT201679
Recognize and avoid phishing messages, phony support calls, and other scams - https://support.apple.com/HT204759
If you are uncertain about a message and a resource provided in that message, do not click on any links. Try to independently verify the resource by going to a support page on apple.com and use that to contact Apple or to verify the service the message is telling you to use.
This document explains how to 'Change, add, [review,] or remove Apple ID payment methods' on an Apple mobile device, a Mac, or a PC; click here --> https://support.apple.com/HT201266
If there's a problem with payment you'll see a red warning message.