Sorry if these questions were answered already but this is a very long thread so here goes:
I have a Sapphire Preferred Visa. It sounds like people here churn these pretty regularly (for the purpose of getting more points and avoiding annual fee) by switching it to a MC and then reapplying for the Visa (which requires closing the MC to get approved). My question is, does this affect the 7% bonus points? When discussing where to do spending Dan is always mentioning things like 2.14% on dining with SP but if you are constantly churning them, wouldn't you lose out on that bonus or will it post anyway even if the card is closed?
My other question is how to go about churning this.
There seems to be a number of ways to do this.
1) Wait until the Annual Fee hits and then ask to downgrade to Freedom and then reapply for SP a few months later.
2) Close the card (move the CL to Freedom) and then reapply a few months later.
3) SM to switch SP Visa to SP WMC and then reapply for the Visa.
Which of these 3 options is preferable and how long should the wait time be before reapplying?