So I'm trying to lay out a strategy for the Exec and the Prestige.

Right now, I have the AA Platinum, which I got approved for in January with a CL of $2000. My idea is to get the Exec and meet the spend fast. Then, I'll apply for the Prestige when the AF on the Exec comes due, and cancel the Exec with the reason that I find the Prestige more attractive. Furthermore, I want to apply for the Prestige so I can get the airline credit for 2015, 2016 and 2017 while still having the option to cancel before paying the annual fee for the second year. Before I embark on this, I have a few questions:

1) I assume I will be able to obtain the three airline credits if I apply for the Prestige in early December. Is this correct?
2) When is the earliest I can apply for the Exec to carry this out? That is, how long do I have to cancel the Exec after applying to avoid the annual fee?
3) If I apply for the Exec now and the deadline for refunding the AF is before I apply for the Prestige in December, would Citi prorate the AF for the Prestige based on the fee for the canceled Exec?
4) Would Citi transfer a credit line from the Exec to the Prestige?

Thanks so much for your help