Hello all. I've been working to build my credit following a lot of advice found here. Last month I settled my one collection account for PFD and now the only remaining derogatory mark is a charge off for USAA. On my report it says:
balance: $22
Status date: Mar 2017
Account status: closed
payment status: charge off
balance updated: Aug 13 2021
amount past due: $22
I have read that I will not have the same luck resolving this as I did with my collection in getting a PFD. Obviously I can pay the $22 dollars (and honestly bewildered by its presence in general on my report, but that's another story). But what I am confused about is:
- will paying it somehow start the time period for dropping off of my credit report over?
- will paying it reduce my credit score?
- is there some reason why I shouldn't try to pay it?
- if you have some kind of magic for getting it off all together please share! 
My scores seem topped out at
Fico 8 Experian 692
fico 8 transunion 691
Fico 8 equifax 687
I assume the scores are still lower due to all (but the derog) of my credit being new, and recent inquiries that only time can help, right? Is there anything else that I could do proactively?
thank you!!!
@Anonymous wrote:Hello all. I've been working to build my credit following a lot of advice found here. Last month I settled my one collection account for PFD and now the only remaining derogatory mark is a charge off for USAA. On my report it says:
balance: $22
Status date: Mar 2017
Account status: closed
payment status: charge off
balance updated: Aug 13 2021
amount past due: $22
I have read that I will not have the same luck resolving this as I did with my collection in getting a PFD. Obviously I can pay the $22 dollars (and honestly bewildered by its presence in general on my report, but that's another story). But what I am confused about is:
- will paying it somehow start the time period for dropping off of my credit report over?
- will paying it reduce my credit score?
- is there some reason why I shouldn't try to pay it?
- if you have some kind of magic for getting it off all together please share!
My scores seem topped out at
Fico 8 Experian 692
fico 8 transunion 691
Fico 8 equifax 687
I assume the scores are still lower due to all (but the derog) of my credit being new, and recent inquiries that only time can help, right? Is there anything else that I could do proactively?
thank you!!!
The answer to all 3 questions is: no
Pay the $22 so that the negative information can "age"