Can I upgrade iCloud storage using iTunes cards for payment?

I have chosen not to use my credit card in conjunction with my AppleID, so I purchase all of my apps and media using iTunes cards.  Can I pay for upgraded iCloud storage using iTunes credits?  I would prefer to pay one year at a time using those credits, but if it needs to be monthly, that would be fine as well.  I just want to use the iTunes cards instead of a credit card for the payment.

Thank you.  So to clarify, if I put a credit card on file for this AppleID, but I have plenty of iTunes credit to cover the monthly cost, then the monthly fee will be pulled from iTunes credits instead of my credit card.  Is that correct? 
It sounds like the credit card is required in order to provide a backup payment option if the iTunes credits are all used up.  Is that also correct?
You're awesome!! Thanks for the help.

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