Originally Posted by
biggestbopper
IMHO, downgrading is a mistake.
Cancel old card, wait a bit, get new card with big sign-up bonus. Go on trip in F.

Downgrading does not prevent you from getting a new card. Plus it keeps your credit line with Citi so if you have problems getting another card then if you call reconsideration you can offer to use the credit line from the downgraded card.