This is from the Alliance of Confessing Evangelicals
"Of course, the thrust of this "ransom" or "
classic theory" of the atonement is to emphasize that the cross of Christ more than just a satisfaction of the penalty of sin; it is a mighty victory over the power of sin, death, and the devil--something that many of us confessional Protestants could emphasize a bit more. That is to say, the cross is just as much about our sanctification as it is about our justification."
(The Alliance is a coalition of pastors, scholars, and churchmen who hold the historic creeds and confessions of the Reformed faith and who proclaim biblical doctrine in order to foster a Reformed awakening in today's Church.)
I am not sure about all of the other many "classic views" of Atonement
@davidtaylorjr was referencing and cannot explain why the term was overly familiar to him while unknown to you.