That will work in your phone, provided it's formatted as FAT32 (Which it probably is). If you put it in your phone and it doesn't recognize it, try going to settings>storage and see if it will let you format it in the phone. Be careful, though, /sdcard is your internal storage. Do not format that.
BTW, adding an SD card isn't going to fix your storage issue unless you have a lot of media to move to the SD card. And, depending on the version of Android you've got, you may not be able to store apps on the SD card.