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I received a solicitation yesterday, from Jefferson Capital, to apply for an Emblem Card. :smileyconfused:
I thought, "Why on earth would a collection agency issue credit?! That's insane!!", then I jumped in to do some research.
All I see are posts here and on Reddit where people were issued a card in accordance with some payoff agreement, so I went through all of my papework with JC and I can find no agreement because I paid my two collection accounts in full, so...
...Is this a thing now? They are in cahoots with a bank and they're just like, "Good job on adulting, here's a new card to help you." ??
Does no one else think this is weird?
Are there maybe some benefits to this I'm glossing over?
I'm sorry, I just cannot wrap my head around this, they can issue and collect and no one thinks this might be an ethically gray area?
They don't issue the card. I believe it's Bank of Missouri.
they typically give you a credit limit equal to what you paid off to Jefferson Capital
Looks like Amex Optima approach
@Red1Blue wrote:Looks like Amex Optima approach
Is that a good or bad thing?
@Anonymous wrote:
@Red1Blue wrote:Looks like Amex Optima approach
Is that a good or bad thing?
I dont know. Looks like both are similar. With Amex we need to pay the CO amount in full and they will give Optima with 1/3 CO amount. Jefferson Capital is similare with some differences. The Emblem credit card is an unsecured credit card offered by Jefferson Capital Solutions as a part of their fresh start program. ... When your debt goes intro collection the agency offers you to pay off a part of your debt and the issues you an Emblem card with the remaining debt as a balance owed on the credit card.
Frankly I would not want to have a credit card that is owned by a JDB, I would run in the opposite direction.
@gdale6 wrote:Frankly I would not want to have a credit card that is owned by a JDB, I would run in the opposite direction.
As long as that was freaking someone else out with me. Lol!