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toolman1990

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Credit Card Charge off effect?
I have had 10 Credit Cards that were charged off due to financial difficulties. I have paid off all of my credit card in debt in full on October of 2014. I know those charge offs will be on my credit report for 7 1/2 years. Does a charge off have less effect on your credit score the older the charge off is? I have applied for a Capital One Secure Credit card which I was approved for to try to rebuild my credit score.

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Negative marks do lose their punch as they age. Maybe get one more Secured card in six months or so.

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