Credit Card Offers CommBank Smart Awards Offers & Discussion

So I did this in Nov, and only just got the bonus points applied last week, 6 months later. And I didn't do very well, only reached the $3k spend in 2 months so 30k bonus points.
I'm looking to get the Ultimate Awards card, with the 15k QFF points/month for 4 months intro offer, but I have a question about the offer terms:



I currently have a commbank Gold card - which is not an Award card, is discontinued and has no features so I'm happy to cancel.
So the question is how long after cancelling do I need to wait before applying? I don't really understand the logic of needing to cancel rather than switch...
 

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