newbie needs help with wells fargo secure card charge off

[Anonymous]

So i have a secure card from wells fargo from 2013 it was a $300 card.....

its a charge off on my cr for $450.....

i called wf to pay it  off and the rep said that if i pay it in full they will NOT remove it from my file just notate that it is paid

even if we settled which i did not know that was a option to settle for less that they still would not mark it  off just as a settled account

here is my questions....

1 is it better to pay in full or settle for less when it comes to affecting my score???.......

also its killing my utilization since its 450 reporting each month and my total cards to date are like 1600......

someone please explain the difference in this case for me.......i applied for a Barclay's and they told me this would have to be off my report

i just got approved for a qs1 and a platinum unsecured cap 1 both with 500cl

much better then my 1st premiere and credit1 cards i had with 300 &450 cl.....

[gdale6]

Settled or paid in full are the same to Fico as long as the account is marked and the balance is showing 0. As far as human eyes looking at your CR a PIF is always preferrable to a settled account. Just keep in mind if this account hasnt been updating on a monthly basis you probably will have a Fico score drop when it updates to a paid status. If its updating monthly now then the faster you take care of it the faster it can stop updating and begin to age in the eyes of Fico. You can begin GW letter campaign after its updated to paid asking for forgiveness and removal of the TL. Good luck