I read the AA policy on the Trip Credit and Flight Credit - it seems the Trip Credit is Book before the date of expiration, but can travel in the future (for as much as the system allows to book, i.e. 10 months ahead?

Flight credit on the other hand must be travel before the date of expiration.

Is the above understanding correct?

I am trying to figure out if we make an unnecessary trip to use up the $697 Trip Credit shown in my husband's account that expires on January 9 2023, or wait till Dec to book something in Spring 2023. Can we still book a fully refundable then later cancel it when a real need for a trip happens?