BOA charge off from 2010, should I pay it?

celticslegends · ‎08-21-2014

This is my only credit card baddie on my report at this time. I have had some great personal success in the credit department this month and want to take care of the negatives that are left on my CR. It is from 2010 and it is $280. It's all late fees and BOA will not settle with me. If I pay this in full will it help my situation, or hurt me? What are the chances they will agree to delete the TL if I pay in full?

Any advice on this would be much appreciated. Thanks!

Whitneyy · ‎08-21-2014

Is it still being updated monthly? If not, paying it will cause it to update and look new in the eyes of FICO and possibly bring your score down.

GOAL - 700 FICO across the board!

celticslegends · ‎08-21-2014

@Whitneyy wrote:
Is it still being updated monthly? If not, paying it will cause it to update and look new in the eyes of FICO and possibly bring your score down.

Yes, they are still updating it fresh each month. I just pulled my CR for August and it was updated in July.

Anonymous · ‎08-21-2014

I'm in the same situation but not with Captial One and mine was from 2008/2009.

celticslegends · ‎08-21-2014

@Anonymous wrote:
I'm in the same situation but not with Captial One and mine was from 2008/2009.

I've decided to call BOA in the morning and just take care of it. The amount is large enough that it is hurting my utilization and I believe it will look better to other lenders who I apply to for credit in the future.