When I do bookmark cards I make the bookmark first - smaller than my 1/4 page standard card, then I usually end up using a craft blade to cut slits in the base card (only through the top layer) for at least 2 of my bookmark corners. Some corner punches are great for this too, but you run into the problem of being able to only use those in close proximity to the actual corners of your cardstock.
I try to make my card look just as great after the bookmark has been removed as it is with the bookmark, so there is usually a surprise element under the bookmark (ie: more stamping, or a window box, etc.).
Hope this helps!
Sarah
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