If a user checks out using Authorize.net CIM and later wants to use updated credit-card information, they have to delete the saved payment profile from their CIM on Authorize.net and then checkout using the new card information. Authorize.net says, based on the conversation on the ticket below, that card information for a user can be updated.
Update Customer Payment Profile
Use this function to update a payment profile for an existing customer profile.
https://developer.authorize.net/api/reference/index.html
TICKET: 028-25E02D03-0B0F