A charge-off is an internal bookeeping measure taken by a creditor, and once done, its done. If they choose to report it to a CRA, the subsequent payment or non-payment of the debt that was charged-off does not alter that fact, and thus does not result in deletion of the reporting.
The significance of a creditor having reported a CO is that it places of record in the consumer's file their observation/opinion, at that point in time, that the consumer is not going to pay the debt. That opinion of the consumer is never favorable when read by other potential creditors, and totally apart from its scoring implications, can be damaging in a future evaluation.
However, if the consumer does, in fact, pay the debt, that mitigates the reported CO. It shows that the prior creditor's perception that the consumer was going to stiff the debt does not, in fact, represent that the consumer does not pay their debt. Rather, it shows that the consumer honors their payment of obligated debt, but was rather most likely going thru temporary hard times, and they have now been overcome, and the debt in fact paid, regardless of whether for the full amount, or for less.
Thus, in my opinion, the answer to the question is yes, as to your credit rating as a whole, and not simply your FICO score.
Also, the same argument that eventual payment of the debt represents a showing contrary to what is stated by a charge-off (i.e., that the consumer is not expected to pay their debt), would be basis I would for requesting a creditor to delete an earlier reporting of a charge-off, thus making your credit report more representative of your intent to pay all obligated debt.
Additionally, if the debt remains unpaid, even though excluded from your credit report, it may still become known to others, and the fact that it remains unpaid simply reinforces the prior creditor perception that you are one who stiffs obligated debt. That can live with you forever.
