Can anyone explain to me what this is doing to my score? It's the only one that is reporting as a charge off and not a collection. So I need to know if I should take care of it before things that are listed as actual collections.
That 153% utilization is factoring into your overall utilization -- so in addition to being dinged for the derogatory charge-off status, you are also losing points for over-max util. Paying it will bring that balance down to $0, reducing both individual and overall util -- depening on the total limit of your other open, revolving accounts, this could yield a bit of score boost if it lowers your util enough to cross a threshold.
Also -- it looks like this account went delinquent in Aug. 2015 --- so it won't fall off til Aug. 2022 -- that's a while. If they sell the debt - you could end up with yet another collection tradeline added in addition to this charge-off. If they keep the debt, then they can update the tradeline with a new 'failure to pay' notation whenever they want -- which will make the charge-off look 'newer' to FICO and hurt your scores again. If you pay it, the account will update with a $0 balance and no further updates will occur - allowing the derog to age and hurt a little less over time (though it will continue to hurt until it falls off).
If you can afford to pay it in full or settle it... then I suggest you do so asap. The other collections will stll be there after you settle this account and by taking care of this one first, you'll prevent a new collection from popping up or future negative updating of the account - and improve your utilization which could potentially help your scores a bit
