I just applied for Reserve but didn't get my bonus yet. Thinking of downgrading that card to a freedom and applying for a Preferred, but actually really want the Reserve before 9/30 to liquidate some points.
1. Any difference in whether I cancel or downgrade the existing Reserve card? If my last app was within 90 days, will that hurt me?
2. If I use the $300 travel credit on Reserve and either cancel or downgrade, when I switch a different card to Reserve later in the year, will it show that I already used the credit?
3. Which card should be flipped back to Reserve - the Reserve that was switched to Freedom, or the Sapphire Preferred that got a bonus?
4. Are there issues in upgrading a card in general, like did I have to have the card for at least 12 months first?
Thanks, all!