Does the 10-referral cap stay monthly if I switch to annual billing?

I’m currently on monthly Pro and hit the 10 referral rewards cap ($250) within a single month. I’m considering switching to annual billing for the 20% discount, but the FAQ states “Paid accounts reset on their billing cycle” Which on an annual plan would presumably mean my billing cycle becomes 1 year instead of 1 month.

Can someone confirm: if I switch to annual, does my referral cap reset every month (matching the calendar month, regardless of billing cycle), or would it reset only once per year (matching the new annual billing cycle)?

This is a meaningful difference for me ($250/mo vs $250/yr in potential referral credits), so I want to confirm before switching plans.

The 10-referral reward cap resets monthly, and switching to annual billing does not turn it into a once-a-year cap. The cycle here refers to the same cycle as your monthly usage limit, not your billing cycle!

Thanks for the quick confirmation, Colin! That clears it up, switching to annual then.