i called in regards to the offer. the 50,000 points seem pretty solid, but the 10,000 points -- not so much. calendar year refers to Jan 1st - Dec 31st. therefore, if you apply today, and approved next week (Dec 26th) -- then you have about 6 days to accrue the $25,000 needed to earn the 10,000 points. this offer is good til Dec 31st -- so perhaps wait a few more days to apply for the card since the associate told me that it takes 2-4 weeks to get approval. that way, a Jan 2012 approval will give you proper time to accrue $25,000 in purchases. hope this helps.