Originally Posted by Traveller 935

I downgraded to the free card after receiving the voucher on the premium card.

My Spending Target jumped to 20k and the amount spent reset to 0. A new target date was set for 12 months from the point of downgrade. So it's just as if you'd sign-up for the free card from scratch in that regards - no spending done on the premium card is taken into account for the new target.