Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
The rewards credit cards with the best benefits also typically carry the highest annual fees. Thankfully, the welcome bonuses and valuable perks you receive with these cards can justify the cost of owning them.
You can also squeeze a bit more value out of your first year of card ownership, depending on a card's benefits. Luxury cards such as the American Express Platinum Card® and the Chase Sapphire Reserve® (see rates and fees) both feature certain benefits that reset in the new year or at intervals throughout the year — not based on when you opened the card.
That means you may be able to get extra value from these benefits by applying for the card now and using them before they reset in January.
How calendar-year credit card benefits work
When a statement credit or other card perk is tied to the cardmember year, it resets on the date you were approved for the card. The annual travel credit on the Sapphire Reserve works this way: If you're approved in March, the credit resets the following March on your next card anniversary date.
But when a benefit is tied to the calendar year, you can use it from Jan. 1 to Dec. 31 every year. Certain benefits follow similar guidelines but are issued quarterly or semiannually.
This means you can potentially use these perks more than once in your first cardmember year. For example, if you're approved for a card in December, you could use its calendar-year benefits by the end of the month and have access to the same benefits again on Jan. 1. This allows you to use perks twice before your second annual fee is due on your first card anniversary.
Keep in mind, the charges need to post to your account by the end of the year. If you make an eligible purchase on Dec. 31, there's a chance the charge will appear on your account statement with a Jan. 1 transaction date (or later). In that case, you wouldn't qualify for the previous year's credit, so be sure to give yourself a buffer to be safe.
Credit cards you can double dip in the first year
The following credit cards offer benefits that reset on a calendar-year or semiannual schedule. If you're interested in applying and getting the most out of your new card's perks, keep these cards (and the timing of your application) in mind:
American Express Platinum Card®
The American Express Platinum Card® is loaded with benefits, and many of them are tied to the calendar year rather than when you open your account.
The card's annual perks, based on the calendar year, include:
- $200 airline fee credit: Receive up to $200 in statement credits annually for incidentals, such as checked bags, in-flight refreshments and other fees after you select an eligible airline (qualifying airlines are subject to change). (See terms and conditions for more details; enrollment required.)
- $300 Equinox Credit: Get up to $300 back annually for eligible Equinox membership fees when you pay with your Platinum Card (enrollment required).
- $200 Oura Ring credit: Receive up to $200 in statement credits when you purchase an Oura Ring at Ouraring.com (enrollment required).
- $219 CLEAR+ Credit: Get up to $219 in statement credits for CLEAR+ when you pay with your Amex Platinum card (excluding any applicable taxes and fees; subject to auto-renewal).
Depending on when you open your account, you could pay for two years of CLEAR+ or get reimbursed for $400 in lounge day passes with your selected airline (assuming the airline sells day passes) in your first year of card membership.
However, not all of these credits are as practical. According to the Amex Platinum's terms, the Oura Ring credit doesn't apply to Oura membership fees, chargers, gift cards or other add-ons. It also doesn't cover the full price of a new Oura Ring. That said, Oura Ring purchases are eligible for FSA reimbursement, so this credit is a great way to use expiring FSA funds.
The Amex Platinum also has statement credits you can earn quarterly or semiannually, such as:
- $600 hotel credit: Get up to $300 in statement credits semiannually on prepaid Fine Hotels and Resorts or The Hotel Collection bookings. (The Hotel Collection requires a two-night minimum stay; certain room categories are not eligible for upgrade.)
- $400 Resy credit: Receive up to $100 in statement credits every quarter for eligible Resy purchases (enrollment required).
- $300 lululemon credit: Enjoy up to $75 in statement credits every quarter for eligible purchases at U.S. lululemon stores or lululemon.com (excludes outlet stores; enrollment required).
You can't fully double dip on these credits, but their quarterly or semiannual reset schedules can still help you squeeze a bit more value from your card in the first year.
The American Express Platinum Card® is a premium card loaded with annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and more. (Enrollment required for select benefits mentioned)
- Access to 1,550+ airport lounges, including Priority Pass™ lounges (enrollment required) and Amex Centurion lounges
- Statement credit offers worth up to twice what the annual fee costs
- Elite status perks for hotels and rental cars (Enrollment required for select benefits mentioned)
- High annual fee
- Many statement credit offers are complicated and are earned in increments or limited to specific purchases
- Not as rewarding for purchases as other lower-fee travel cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 175,000 Membership Rewards® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Get more for your travels with 5X Membership Rewards® points on all flights and prepaid hotel bookings through American Express Travel®, including Fine Hotels + Resorts® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel® on up to $500,000 on these purchases per calendar year.
- With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection, over $850 of annual value, with access to Centurion Lounges, 10 Delta Sky Club visits (subject to visit limitations) when flying on an eligible Delta flight, Priority Pass™ membership (enrollment required), and other select partner lounges. *As of 01/2026
- $200 Uber Cash + $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
- $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.
- $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection* bookings through American Express Travel® using the Platinum Card®. *The Hotel Collection requires a minimum two-night stay.
- $400 Resy Credit + Platinum Nights™ by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card® to pay for eligible purchases with Resy, including dining purchases at over 10,000 qualifying U.S. Resy restaurants. Enrollment required. As a Platinum Card® Member you have special access to reservations on select nights at participating sought after Resy restaurants in select cities through Platinum Nights™ by Resy. Simply add your Platinum Card® to your Resy profile to book your reservation.
- $219 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $219 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- Start your vacation sooner and keep it going longer. When you book Fine Hotels + Resorts® through American Express Travel®, enjoy noon check-in, when available, and guaranteed 4PM late check-out.
- $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That's up to $300 in statement credits each calendar year. Enrollment required.
- $155 Walmart+ Credit: Get up to a $12.95* statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Platinum Card®. *Up to $12.95 plus applicable taxes on one membership fee.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- $895 annual fee.
- Terms Apply.
- See Rates & Fees
Balance transfer fee
N/A
Foreign transaction fee
None
Citi Strata Elite Card
The Citi Strata Elite℠ Card has two annual statement credits worth up to $500 each year that are tied to the calendar year:
- Up to $300 in annual hotel credits: Every calendar year, receive $300 off prepaid hotel stays of two or more nights booked through Citi Travel.
- Up to $200 in annual Splurge Credits℠: Choose up to two eligible brands to receive a combined reimbursement of up to $200 per calendar year. Brands include American Airlines (with exclusions), Best Buy, Live Nation (with exclusions), 1stDibs and Future Personal Training.
With the hotel credits, you can book reservations past the benefit expiration date — so your 2025 hotel credit can be used to book a stay in 2026. However, there's some risk in trying to double-dip this specific perk during your first cardmember year: If you cancel the reservation on or after Jan. 1, 2026, you'll forfeit the credit.
The Strata Elite also includes a semi-annual credit of up to $100 for the Blacklane chauffeur service, doled out between January and June and again between July and December. If you use the service frequently, you could receive up to $300 in credits from this perk before your first card anniversary.
The Citi Strata Elite℠ Card offers luxury travel benefits and heightened rewards on travel and restaurant purchases — while still earning 1.5X points on all other purchases.
- Exceptional rewards rate on travel booked through cititravel.com
- Earns flexible points that transfer to popular airline and hotel partners, like American Airlines
- Features roughly $1,500 in value through statement credits, airport lounge access and more
- High $595 annual fee
- $75 annual fee for each authorized user
- Limited rewards categories
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 75,000 bonus Points after spending $6,000 in the first 3 months of account opening.
- Earn 12 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on cititravel.com and 6 Points per $1 spent on Air Travel booked on cititravel.com
- Earn 6 Points per $1 spent at Restaurants including Restaurant Delivery Services on CitiNights℠ purchases, every Friday and Saturday from 6 PM to 6 AM ET. Earn 3 Points per $1 spent any other time
- Earn 1.5 Points per $1 spent on All Other Purchases
- Up to $300 Annual Hotel Benefit: Each calendar year, enjoy up to $300 off a hotel stay of two nights or more when booked through cititravel.com.
- No Foreign Transaction Fees
Balance transfer fee
Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Chase Sapphire Reserve
The Chase Sapphire Reserve has several valuable credits that can be earned semiannually. You can receive:
- Up to $500 in credits for The EditSM hotel stays: You can earn up to $250 in statement credits from Jan. 1 to June 30 and up to $250 in additional statement credits from July 1 to Dec. 31. The credits only apply to prepaid stays of at least two nights.
- Up to $300 StubHub and viagogo credits: Earn up to $150 from Jan. 1 to June 30 and up to $150 from July 1 to Dec. 31 for StubHub or viagogo purchases.
- Up to $300 in annual dining credit: You can earn statement credits for purchases with the Sapphire Reserve Exclusive Tables program. You'll receive up to $150 from Jan. 1 to June 30 and up to $150 from July 1 to Dec. 31.
If you don't live in or near a bigger city with eligible restaurants, it may be difficult to use the dining credit. However, you can purchase tickets through StubHub or viagogo for future events and prepay for future stays at The EditSM hotels, making these credits easier to turn into additional value.
Also, starting Jan. 1, 2026, the $500 Edit credit will change: It will no longer be a semiannual benefit. Instead, you'll be able to earn up to $250 in credits for your first two eligible bookings per year. This gives you more flexibility in how and when you can use this perk.
The Chase Sapphire Reserve® is a standout premium credit card with luxury perks including, hotel credits, complimentary hotel elite status, travel credits, dining credits, rideshare and delivery benefits and much more.
- Access Priority Pass lounges, including unlimited access to Chase Sapphire Lounge® by The Club locations.
- Up to $300 in annual travel credit each account anniversary year
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Top-tier travel and shopping protections
- High annual fee
- Requires a high credit score
- Complicated list of benefits
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
- Get $3,000 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase TravelSM, including The EditSM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority PassTM Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $288 annually.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card story is based on rigorous reporting by our team of expert writers and editors. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Read more
For rates and fees of the American Express Platinum Card®, click here.
