Hello everyone I have subscription for one month which I don’t plat to renew can someone please tell me what will happen if I have a character level 60-65 and go back to preferred status. Thank you for the help

Hello everyone Yesterday I redeemed a retail swtor key to my account and gave me 500 cartel coins and one month of subscription also I received an email telling me that I have the preferred status and my question is I don’t plan to buy subscription and when this subscription is finished i will have preferred status or f2p. Thank you in advance and sorry about my English is not my first language.