Anyone have any familiarity with the $50 travel credit you receive with the Sapphire Preferred? I already made a booking through Chase Travel and received the $50 credit. I need to change the hotel/cancel the reservation now.

Does anyone have any idea if the following will happen?

1. Can I call and modify the reservation to a different hotel?
2. Will chase take the $50 statement credit back if I do cancel? If so, will I have the ability to receive the $50 credit again with another booking?
3. Will they do nothing upon cancelling? I will still have the credit and just make the booking elsewhere. (This seems like the case with the Sapphire Reserve credit?)

Thanks in advance. I'm not finding any info out there about the Sapphire Preferred (It's all for the Reserve)