The “triple dip” only works if you open a credit card at the end of the year.
Many travel credit cards offer benefits that are renewed annually from the date you opened your account. For example, the Chase Sapphire Preferred gives cardholders a $50 statement credit for hotel bookings during the first 365 days they hold the card. If the cardholder keeps the card for another year, they receive another $50 credit on the anniversary of the date they first opened the card.
However, some premium travel credit cards offer benefits each calendar year. These benefits renew on January 1st of each year, regardless of when the cardholder opened their card. For these cards, timing your application just right can pay off.
Many premium credit cards have hefty annual fees that can reach a jaw-dropping $895. That number puts these cards out of reach for many travelers. As a result, they may miss out on the substantial travel benefits these cards offer, including comprehensive travel insurance and elite hotel status. However, if a savvy traveler opens one of these cards at the right time, they may be able to “triple dip” and use some of the card’s annual benefits three times. This move can bring the annual fee down to a reasonable level or eliminate it entirely.
The annual benefits offered by premium travel cards vary. For example, American Express Platinum cards offer a $200 airline fee credit each calendar year and hundreds of dollars in hotel credits that renew on January 1st. The Citi Strata Elite has an annual $200 “splurge credit” for purchases at several companies, including Best Buy, American Airlines, and Live Nation, as well as a $300 annual hotel credit per calendar year. The Chase Sapphire Reserve offers a generous StubHub credit that resets on January 1st.
If you open a travel credit card in mid-December 2025, you may be able to use these calendar-year credits in 2025, 2026, and in early 2027 before the card’s annual fee hits. This timing is important because once the annual fee posts, cardholders can decide whether to keep the card or close it. Even if cardholders choose to cancel the credit card and not pay the annual fee again, they are still entitled to use the card’s benefits as long as their account remains active. There is a narrow window each year to take advantage of the triple dip, but it is possible if you time your application correctly.
Before you attempt the triple dip, be sure to read the fine print and make sure you will use the card’s benefits.
