Yes, you will need to have a credit card on file, same as it is now.
No, you will not need to buy anything extra to stay a VIP player, just keep your subscription active.
Let me never fall into the vulgar mistake of dreaming that I am persecuted whenever I am contradicted.
~Ralph Waldo Emerson
"I was just the one with the most unsolicited sombrero." - Traegus
As far as we know, you do not need to have a card on file to be a VIP. You are a VIP during any month in which your subscription is paid, whether by credit card, time card, PayPal or whatever.
If your subscription lapses, you become a Premium account player.
It really is that simple.
The wisdom of Shadowe: Ghostraptor: The Shadowe is wise ...; FFM: Shadowe is no longer wise.
; Techbot_Alpha: Also, what Shadowe said. It seems he is still somewhat wise 
; Bull Throttle: Shadowe was unwise in this instance...; Rock_Powerfist: in this instance Shadowe is wise.; Techbot_Alpha: Shadowe is very wise *nods*; Zortel: *Quotable line about Shadowe being wise goes here.* Thank you Shadowe.
Do I need to have a credit card on file to be a VIP player? If I renew every billing cycle or every other will I have to purchase something extra to be a Vip player?