I apologize if this has been previously covered, I tried searching but it is admittedly a bit challenging to find clear data points given how much these policies seem to have changed.

I had a paid first class flight booked, I canceled and received a trip credit immediately.

I canceled that trip within 24 hours, and now have a pending flight credit that says "refund requested" and that I will receive a response within 7 business days.

Should I expect this to take a full 7 days? Is this normal, or is something wrong?

Thanks in advance!