I applied a code for both the Heretic and The Visionary and still have not received the emblems within a month. It says "Claim this emblem from your in game Destiny 2 Emblem Collection once your code has been applied," although I've already applied the code.
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Go to your Safe and at collections youll have a tab where they are shown
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After you applied the code on Bungie.net, did you logout of the game then get back in?