I have followed the directions:
Log into your account at www.arcgames.com or within the Arc Games client
Click on your account name in the top right hand corner and select "My Account"
Click on "Manage Subscriptions"
Log into the secure billing site with your Account Name and Password
NOTE: You will need to enter the Account Guard one-time Verification code to proceed if you haven't already saved your browser
For information on Account Guard please see this FAQ
Click on "Main Menu"
Click on "Manage Payment Methods"
Find the payment method you wish to remove and click the 'Delete' button
The problem I am having is there is NO "main menu" once I verify my one time - verification code, I do in fact proceed to Account guard, however the only thing I can do in there is remove IP addresses. There is no main menu to click on to continue the rest of the directions.