Intergroup contact scholars have recently called for analyzing the effects of negative intergroup contact. In response to this call, we examined the correlates of positive and negative contact with one of the most stigmatized ethnic minorities, that is, Roma. We conducted a study in Bulgaria considering the point of view of the ethnic Bulgarian majority (n = 516) and of Bulgarian Turks (n = 274), an ethnic minority with higher status compared to Roma. Regression analyses showed that positive contact was associated with reduced prejudice and more support for pro‐Roma policies, while negative contact revealed the opposite pattern. These associations did not differ between ethnic Bulgarians and Bulgarian Turks. Moreover, positive and negative intergroup emotions mediated the relationships between positive and negative contact on the one hand and prejudice and policy support on the other. Our study highlights the importance of emotional processes involved in positive and negative intergroup contact experiences and encourages future research to analyze how absolute versus relative status differences shape the effects of positive and negative contact in complex hierarchical societies.