Yes. “Monthly” and “Yearly” subscriptions are billed in one payment at the time of purchase, and automatically renew at the end of the initial term at the rate secured at the time of purchase, until you decide to cancel. Subscription automatically renews and your account will be charged unless auto-renew is turned off at least 24 hours before the end of the current period.
If you purchased your Simple Habit subscription via iTunes, your credit card will be charged through your iTunes account. You can turn off auto-renewal at any time from your iTunes account settings.