Email from iCloud

As it doesn't address you by name it may well be a scam, though usually they provide a (fraudulent) link to 'verify' your account. This one tells you to go yourself to Settings, which is safe enough, so it's difficult to see what the point would be. The links at the bottom might be fake.

In any case, never follow links in unexpected emails. You should assume it may well be true, but check your payment method directly. You could also contact Support and ask them to confirm whether or not there is a problem. iTunes Store - Contact Us - Official Apple Support

See this article https://support.apple.com/en-us/HT201679

Also consult apple support https://support.apple.com/en-us/HT201232