Etcd21

Hey there-- I've read thru most of this thread but am still not sure I'm clear on my best move here, specifically in regards to the above question/reply about earning the CSP signing bonus.

My situation:

I have had the Fairmont card for 3 years and have not applied for any Chase cards since. Only other Chase card I have is the Hyatt Visa (have had for longer).

My S/O has the CSP card and could refer me to get a referral bonus for him and then I could get the 50K points currently being offered as signing bonus.

Would it be best for me to apply for the CSP card now (using his referral link) or is there a reason to wait? Then (assuming I get approved), what happens with the "replacement" card (Fairmont--> Sapphire Preferred) I'm supposed to be receiving from Chase after August 15th (per the letter they sent)? Will they forego sending me that card if I'm approved via my application or will I need to cancel that card? I see from the quote above the recommendation to "PC the Fairmont CSP to a Freedom"-- I believe this means to ask them to downgrade the card they send me automatically, but I would prefer to avoid having another card if possible.

Its all a bit confusing and I just want to make sure I'm doing the right thing in terms of trying to secure the 50k signing bonus and also be mindful of how much my credit score would be dinged in the process of all this.

Truly appreciate any feedback, pls forgive me if this has already been addressed/ answered...I still cant seem to come to a conclusion after reading thru the thread and browsing thru the blogs.

Thank you!

etcd21