If my monthly payment fails, do my apps stop at once?

With the security breach, we may have to change our credit cards.  If for that reason or any other, a monthly payment fails, do our CC apps stop working at once, or do we get any period of grace to correct the payment?  Does anyone know this? 

Thanks, but I don't quite understand your answer.  This is not about cancelling. 
The question is: if a monthly payment doesn't go through, what happens?
Suppose my credit card payment doesn't work.  For example, my card might have been stopped by the bank for suspected fraud reasons, or the card number changed following a re-issue of the card, or there may have just been a payment error.  Does my Photoshop CC subscription stop immediately?  I might not even know that the payment has failed for a few days, and it might take me a bit longer to find out what has gone wrong, and reset the credit card on my Adobe ID. 
In the mean time, can I still use my Adobe CC applications, even though a monthly payment has not gone through on the due date (for reasons outside my control, perhaps, and maybe even without my knowledge)?

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