for those who applied early in the life of the card (first year or two, yes, there was a credit upon approval, and then calendar year. But changed as there was enough gaming - apply late in the year, pay AF, receive credit, receive new credit in new year, cancel before 2nd AF posts. Because of this, they changed the credit based on application date, and calendar year (well, new credit after close of last cycle of the calendar year) for those under the old system. Now changing…I suspect to spread out more credits over the year.