Opening a new credit card might not be on your radar right now. It’s a busy time of year, and you probably have so much going on. Maybe you’re hanging on by a thread, waiting for winter break. But I need you to take a little brain break from that and think about this — it’s the perfect time to open a new card.

December means extra spending. It also means credit card benefits that may expire soon. But here’s how you can put both of those things to good use. First, that spending could be going toward a big welcome offer on a new credit card. Second, those expiring credits can work in your favor by double- or triple-dipping them over the next 13 months.

Let’s break down what this means and which cards it works best for.

What is Double- or Triple-Dipping?

This term refers to the ability to use one credit card benefit two or three times while only paying a card’s annual fee once. This works with premium cards that have calendar-year credits that reset each January.

Note: many cards also have cardmember-year credits that reset each time you pay your annual fee, not each January.

Here’s how it plays out to double- or triple-dip your credits:

• Open a new card that has some of these calendar-year credits.
• Use the credit before the end of the year.
• The credit will reset in January. Use it again sometime next year.
• The credit will reset again the following January. Use it a third time before your annual fee processes for the second year.
• After you’ve used it, you can cancel or downgrade the card if you don’t want to pay the fee again.

What Cards Are Best for This?

As I mentioned, premium cards are the best for this because they often have big credits worth hundreds of dollars. When used multiple times, these credits easily offset the big annual fees. That’s not even considering the huge welcome offers that also come with opening new cards, which are worth hundreds (if not thousands) of dollars!

Card #1 – Citi Strata Elite℠ Card

Benefits that can be double- or triple-dipped:

• $200 Splurge Credit – Choose from one of five vendors, including Best Buy, American Airlines, Live Nation, 1st Dibs, and Future Personal Training, and earn up to $200 per calendar year on purchases. I plan to buy American Airlines gift cards to trigger my credit. I’ll do this now and then again in January, so I’ll have $400 to put toward flights next year. I’ll do this again in January 2027 before I decide if I want to keep it open for a second year.
• $300 Hotel Credit – Get $300 off a hotel stay of two or more nights when booked through CitiTravel.com.

Other benefits:

• Four American Airlines Admiral’s Club lounge passes per year that can be used when flying American Airlines or its Oneworld partners. Each pass includes one adult and up to three kids.
• Priority Pass membership that includes two guests. This is a great benefit since most other cards have done away with guest lounge access (including my beloved Capital One Venture X Rewards Credit Card. Sad.)
• TSA PreCheck or Global Entry statement credit.

With all of these benefits, plus Admiral’s Club access for our family for two trips, and Priority Pass guest lounge access, this card may end up being a keeper for us!

Card #2 – American Express Platinum Card®

Benefits that can be double- or triple-dipped:

• $600 Hotel Credit – Get up to $300 in statement credits biannually (Jan – June and July – Dec) on Fine Hotels + Resorts® or The Hotel Collection bookings made through American Express Travel®. You don’t have to travel during that six-month window; you just have to make the reservation and prepay.
• $200 Airline Incidental Credit – Select an airline, make qualifying purchases, and receive up to $200 in statement credits per calendar year (enrollment required)
• $100 Saks Fifth Avenue Credit – $50 per period from January to June and from July to December (enrollment required)
• $400 Resy Credit – $100 per calendar quarter (enrollment required)
• $300 Lululemon Credit – $75 per calendar quarter (enrollment required)

Other benefits:

• Lounge access to Centurion Lounges (for the cardholder only), 10 complimentary Delta Sky Club® visits per year when flying on an eligible Delta flight, Priority Pass Select membership (enrollment required, no guests included).
• TSA PreCheck/Global Entry statement credit
• $300 Digital Entertainment Credit – get up to $25 in statement credits each month (enrollment required)
• $209 CLEAR+ statement credit
• $155 Walmart+ Credit when billed monthly

Even with the giant annual fee, this card is an excellent option when timed correctly. There are so many benefits that can be double/triple-dipped.

Card #3 – The Business Platinum Card® from American Express

Benefits that can be double- or triple-dipped:

• Up to $600 Hotel Credit – same as the personal version
• $200 Airline Incidental Credit – same as the personal version
• Up to $150 Dell Credit

Other benefits:

• Lounge access to Centurion Lounges (for the cardholder only), 10 complimentary Delta Sky Club® visits per year when flying on an eligible Delta flight, Priority Pass Select membership (enrollment required, no guests included).
• TSA PreCheck/Global Entry statement credit
• Up to $209 CLEAR+ statement credit
• Up to $360 Indeed credit – $90 per quarter
• Up to $120 cell phone statement credit – $10 per month when you use your card to pay your phone bill

Card #4 – Chase Sapphire Reserve®

Benefits that can be double- or triple-dipped:

• $300 annual statement credit for StubHub or Viagogo purchases: Split into two $150 biannual credits for concert and event tickets (activation required).
• $300 annual dining credit and exclusive OpenTable reservations: Split into two $150 biannual credits automatically applied within the Sapphire Reserve Exclusive Tables program.

Other benefits:

• $300 annual travel credit: This credit applies broadly to any travel purchases.
• $500 annual statement credit for The Edit: Split into two $250 credits for stays at Chase’s curated collection of luxury hotels and resorts.
• $250 annual statement credit for Apple TV+ and Apple Music subscriptions: A one-time activation is required in your Chase account online or through the mobile app.
• $120 in annual statement credits toward Peloton memberships: $10 per month through Dec. 31, 2027.
• $120 in annual Lyft in-app credits: Up to $10 monthly through Sept. 30, 2027.
• Up to $120 credit for Global Entry, TSA PreCheck, or Nexus: Available once every four years.
• Airport lounge access

Related: Are the Chase Sapphire Reserve benefits worth the fee?

Tips and Wrapping Up

Here are a few things to keep in mind with your new card.

First, some benefits require enrollment, so be sure to enroll ASAP once you receive your card. Second, make sure you set a reminder to use the benefits again next year, and then again in January 2027, before your second year’s annual fee processes. You typically have 30 days after the fee shows up in your account to cancel or downgrade your card. Third, don’t forget to use up the smaller credits that come with each card. Those add up in the long run!

As you can see, now is a great time to open one of these cards and get double or triple the normal value of the credits. For me, the Citi Strata Elite was the best choice because of the limited-time offer and the benefits it includes. But one of the other ones may be a better fit for you. Either way, you can’t go wrong with getting the most out of your holiday spending and the extra value that the cards offer.

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