My husband and I are currently planning a RTW trip and would like to earn enough miles/points to fly (almost for free). To efficiently earn points without paying too many annual fees, we are trying to figure out the best way to cycle through credit card signups without losing miles. We both already have the Chase Sapphire Preferred cards and United Mileage Plus Explorer Cards, but we want to earn the sign up bonuses again. Is the following process allowed? If so, how much time do you recommend between each step? Thanks for your advice!

1) Wife transfers Chase points from wife's account to husband's Chase account.

2) Wife cancels Chase Sapphire preferred credit card.

3) Wife reapplies for Chase Sapphire Preferred Card and meets minimum spend to receive the sign up bonus again.

4) After 3 months, Husband transfers entire Chase account balance to wife's new Chase account.

5) Husband cancels Chase Sapphire preferred credit card.

5) Husband reapplies for Chase Sapphire Preferred Card and meets minimum spend to receive the sign up bonus again.

7) Wife transfers Chase points from wife's account to husband's new Chase account.

8) Cancels wife's Chase Sapphire preferred credit card to avoid having two annual fees.