Simple, just make the card 4" rather than 4 1/4" x 5 1/2". By sacrificing that little quarter of an inch you can cut 3 cards from a 12x12 page. Depending on where you get your paper, that can be an even better value. You'll never notice the difference in your card size.
Another consideration is fold. You will need to fold at least one of your cards so that a 4" x 5 1/2" card is folded at the top rather than the side. Here are two possible ways to get 3 cards from a 12" x 12" sheet.
To use the cutting guides above:
- First cut a 1" strip off of one edge of your 12" x 12" cardstock.
- Then turn the cardstock 90 degrees and cut a 4" x 11" piece.
- The remaining piece can be split either way to create two more cards.
One other option in using the guide on the left is to not cut off the 1" x 12" strip. Cut your 4" wide strips. Score your card at 5 1/2" and use that extra inch as a tearing line or trim a little off and use your scallop punch to create a pretty edge. Just be sure your card doesn't go wider than 5 1/2" or it won't fit in a medium envelope. (Ask me how I learned that!)
I started doing this to use some of my 12"x12" cardstock for cards. Now I often buy paper in 12"x12" so I can have the option to use a paper as a background for a scrapbook page or for cards.