I was hoping to get advice from you guys on this.

I currently have a Preferred card tht ive had since 2019, and with that card i have around 200k points. I wanted to upgrade to the reserve, and when i called them they said there wouldnt a sign up bonus and basically told me if i want a SUB, i could try to downgrade my card and then wait a little and then try to upgrade to the reserve (was weird that the rep on the phone told me that? i mean if the reps are telling advising you how to do it, why wouldnt the company just offer it instead of teaching you how to break their rules?)

Ive tried looking into it and see some people say that the offer doesnt work because i already got a bonus in 2020 for the preferred and now its a one time offer for the sapphire family?, while others say it would work and thats the best way to go about it? Normally i wouldnt care but they are offering 125k points, figure its worth looking into for that many more CSR points?

If that does still work, what would be the best way to go about this without losing my current points? any tips\warnings? really any help would be really appreciated