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Worth it to pay off, "charged off" AMEX?

privacyadvocate69
Established Member

Re: Worth it to pay off, "charged off" AMEX?


@RotaryP7 wrote:

What's the benefit in paying off these accounts? That I can maybe reapply for AMEX in the future?


If nothing else, it is the morally correct thing to do - esp. when one has the means to do so. 

Message 11 of 13
RotaryP7
Valued Member

Re: Worth it to pay off, "charged off" AMEX?


@privacyadvocate69 wrote:

@RotaryP7 wrote:

What's the benefit in paying off these accounts? That I can maybe reapply for AMEX in the future?


If nothing else, it is the morally correct thing to do - esp. when one has the means to do so. 


I agree. However, I’ve seen people on here tell others that if it’s charged off. There isn’t a point in paying off the debt since the creditor has canceled because of nonpayment. That your credit will stay the same paying it off or not. Which is why I asked. I can pay it off now, back then I had financial troubles, which caused the charged off in the first place.

 

Chase Freedom Unlimited $1K | Chase Freedom Flex $500 | Capital One Quicksilver $3.3K | Capital One SavorOne $1K | Discover IT $9K | AMEX BCE $1K | Apple Card $1.5K | AMEX ED $1K
Current FICO 8: EQ: 691 TU: 692 EX: 691
Message 12 of 13
dudedudedude
Established Member

Re: Worth it to pay off, "charged off" AMEX?

 

I recently paid my Amex charge off. I gained 40pts. The account is 1 of 2 charge offs remaining on my report. 

Message 13 of 13
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