Originally Posted by
mc1973
Be careful when you cancel the card, if you cancel before using the voucher you'll lose it, if you cancel after booking with the voucher the only issue would be if you cancel your booking there is a grey area apparently as to where the voucher then goes. Easiest way is to downgrade to the blue card but i would suspect (maybe im reading too much between the lines) what you plan in doing is churning the cards every 6 months or so to get the bonuses which you wont get if you hold the blue card.
Avios for spend has been covered already
This is not correct. If you cancel the card provided the 241 is already in your BAEC account it will not be taken back. Amex CS may tell you differently but this is not true.
You will however need to pay for any 241 flight with an Amex card (all other options are greyed out) - so either you or your wife will need to have some kind of active Amex going.
In a worst case scenario you could find that you do not get approved for a new card after cancelling your first and would need to rely on your wife maintaining her card an active card to pay. Therefore a downgrade to blue from PP may be something worth considering.