What is Emblem Credit Card?

[corymcd88]

What kind of credit card is this?

[webhopper]

Looks like it is a mastercard of some sort... the website looks terrible. 

[crunching_numbers]

Looks like it is a company that buys your debt, then issues you a CC with the debt owed on it. They initiate the contact. There are fees. Unusual site. Unusual program.

[webhopper]

Seems like it may be a legit offer based on what I'm reading, they make you start paying off your debt, then they issue you a mastercard with the remaining debt as a balance owed on the CC. Then you can use the CC after the debt has been paid... its a bit fishy, I wouldn't really trust a debt collector with a CC

[Scope27]

I was offered this program last year and was sceptic about it. I called requested written verification on it and decided to give it a go. I paid my debt of 215 and was issued the card a few weeks later for 200 bucks. It doesn't grow or anything but it was something I needed to begin rebuilding my credit history. After 6 months of slight useage and paying it in full my score jumped from a 515 to a 580. This card has no annual fees or monthly fees. It's a no grow rebuilder imo. I then app'd for a Bank of America secured card and was initially denied. On recon the credit analysist reviewed my useage on this card and approved me after seeing how hard I worked within that period to pay all my owed debts and worked to establish more credit. Honestly without this card my score wouldnt be 135 points higher now and I wouldn't have had the boost I needed to be able to secure a mortgage loan and several other unsecured cards. If you are in the same position as I was then give it a go. But request details in writing first and give them a call. The rep I spoke with was kind and answered all my questions. That card is now sock drawered and it does report on all three bureaus and there's no hard pull for it.

[webhopper]

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@Scope27 wrote:
I was offered this program last year and was sceptic about it. I called requested written verification on it and decided to give it a go. I paid my debt of 215 and was issued the card a few weeks later for 200 bucks. It doesn't grow or anything but it was something I needed to begin rebuilding my credit history. After 6 months of slight useage and paying it in full my score jumped from a 515 to a 580. This card has no annual fees or monthly fees. It's a no grow rebuilder imo. I then app'd for a Bank of America secured card and was initially denied. On recon the credit analysist reviewed my useage on this card and approved me after seeing how hard I worked within that period to pay all my owed debts and worked to establish more credit. Honestly without this card my score wouldnt be 135 points higher now and I wouldn't have had the boost I needed to be able to secure a mortgage loan and several other unsecured cards. If you are in the same position as I was then give it a go. But request details in writing first and give them a call. The rep I spoke with was kind and answered all my questions. That card is now sock drawered and it does report on all three bureaus and there's no hard pull for it.

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Glad to hear that someone had a good experience with it... If there are no annual fees that would be good for someone who is rebuilding... Also, did they remove the original collection from your CR?

[720ismygoal]

I been having this card since August of 2011. i paid off my debt and now i habe a $325 limit. i havent received any CLI's since and i've been using the card to its maximum and PIF every month. i call customer service and they told me that they review the accounts after one year, so we will see what the outcome will be in August. they did delete the colletions of my report and now this card reports to all three credit beuraes. hope that helps.

[webhopper]

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@720ismygoal wrote:

I been having this card since August of 2011. i paid off my debt and now i habe a $325 limit. i havent received any CLI's since and i've been using the card to its maximum and PIF every month. i call customer service and they told me that they review the accounts after one year, so we will see what the outcome will be in August. they did delete the colletions of my report and now this card reports to all three credit beuraes. hope that helps.

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This feature could be valuable if it's standard practice...

[Scope27]

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@webhopper wrote:

Glad to hear that someone had a good experience with it... If there are no annual fees that would be good for someone who is rebuilding... Also, did they remove the original collection from your CR?

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I never had them report a collection so IDK if they had but as soon as they aquired my debt I enrolled in the program.  As another poster mentioned they removed the collection so I guess you do have to ask.  First Premier did change my status from charge-off to payment after charge-off once I paid it down.  But that came from a dispute because they were still reporting a balance once I paid Jefferson Capital (which enrolled me in the emblem program).