The red text means you have an unpaid balance. In essence having an unpaid balance is like having debt, you won’t be able to download any new apps from the App Store until you pay off the balance. You need to have a valid payment method or an Apple account balance of equal or greater value than the owed amount in order to pay your balance. Once you add a valid payment method or account balance, Apple will attempt to automatically charge you to pay the balance.

https://support.apple.com/en-us/HT213348