Valued Member
Posts: 39
Registered: ‎05-27-2009

Long term effects of a charge off

Hi everyone,


I don't post too often, but hate when people ask questions and never follow up so I thought I would. I had 2 charge offs on my credit and could never really get my equifax past 624. Even if I moved my utilization down to ideal ranges, it never really helped. For whatever reason BofA removed their CO from my equifax credit a few months ago but it still didnt help. Recently I checked my creditkarma which indicated that the other account had fallen off. I checked today and while I still had one CO on my TU  (i never bothered paying for the TU from here before so I couldnt tell you the score was historically and I'm not sure why CK doesnt show it ), my EQ was finally clear. That one CO, all the way up to the date it was removed held me back by over one hundred points. Right now my utilization is not ideal like it was (around 40%) but for those who are curious the amount that was C/O'd was around 10k. I didnt really think it was holding me back that much. I figured i might get 690. I was pretty surprised when it showed my EQ as 744. My TU is now 672 and that other CO should be falling off anytime now but I probably wont update that since its not a model used very much anymore. Hope this helps those who have the same problem in the future.

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007

Re: Long term effects of a charge off


Valued Contributor
Posts: 1,216
Registered: ‎05-10-2012

Re: Long term effects of a charge off

The CO was unpaid I'm assuming? What is your total credit limit on revolving accounts?  It looks like that may have been affecting your UTIL as well

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600

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