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Charge Off questions

New Visitor

Charge Off questions

Hello all, new to forum.

Trying to improve my credit score from past mistakes as my financial situation is improving.


I downloaded two of my three credit reports from While looking at them I noticed that a couple of capitol one accounts have past charge offs.  However I have two new credit cards from capital one that are current and good. 


These past accounts began 2015 and 2016.


My question is, are these old accounts hurting my credit score?  How much? I'm guessing yes but I don't know how much.  They both say they are due to be removed from my credit report on 9/23.


Would it be better to try to pay for delete or at this point is it not worth it? 


Any and all help will be greatly appreciated as I have very limited credit knowledge. 

Message 1 of 5
Community Leader
Super Contributor

Re: Charge Off questions

Yes they are hurting you, but nobody can tell you how much. There is no fixed number of points; everyone's credit file is different. And OCs don't do PFD, so your only options are to wait them out and not pay or pay to get it over with then try to get a GW removal later. If it's been updating monthly, paying them will help improve scores some, but again we wouldn't be able to say exactly how much.

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Message 2 of 5
Frequent Contributor

Re: Charge Off questions

I had two Cap 1 charge off on my reports last year. I paid them in full June 2019. They were due to fall off, ironically, 9/23. 

About 3 months after I PIF, I called and spoke to a supervisor and they deleted both accounts for me out of goodwill. I would say your chances are pretty good, but you gotta pay them back first. 

Message 3 of 5
Established Contributor

Re: Charge Off questions

Any chance you could post a screenshot of what your cap1 chargeoff accounts look like on your reports? (redacting any personal info and account numbers, of course).


That would help us figure out if (and how badly) the accounts are hurting your scores, and how best to go about resolving it.

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Message 4 of 5
Valued Contributor

Re: Charge Off questions

As others have said paying it off may or may not help the score. Not paying it off Capital One could sell your account to a factoring company ( a type of collection agency) and the newly reported collection account will hurt your credit score. Capital One could also assign your account to a collection agency again new collection account will hurt your score.  If the balance on account is exceeding your credit limit that is hurting the score to some degree and how those balances are affecting your total credit utilization may be impacting the score as well. If you have the money to pay them off or can arrange a payment plan with Capital One I would suggest you do so. If it were me I would not be that concerned over the impact on the score in the short run. Keep in mind 3 years those accounts will fall off the report. I would have thought Capital One would have made you pay those accounts before they issued a new credit card.

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Message 5 of 5
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