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Settle credit card balane for lesser amount without credit hit?
Here's the high-level - I have a credit card through a major retail chain that has a balance of $10,000 on it. I have had this card since 2006 with a credit limit of $12,500 and have carried some sort of balance on it since I have had it. About 5 years ago I made a couple of large purchases on the card with 3 years 0%. Long story short, about 2 years ago I missed a payment and interest was increased to the 20ish percentile and I was also hit with deferred interest which brought the card up to around it's current balance. Outside of the one missed payment I have never had another 'mark' on the account. For two years, I have been making payments ~$350 per month which is about $30 over the minimum. As I started to dig into the history I became outraged when I finally realized how much interest I was paying and the balance of the card for the past year had only decreased by $1800 when I had paid over $4000! Basically it's put me in a position where I need to take action quickly. This is the only balance that I currently carry with the exception of my car note. I am a 745 on Credit Karma and this card is the source of 2 drainers - higher credit card utilization and near limit on credit card.

Over the life of the account, the bank has made well over $5,000 off of me in interest alone. Is there a way to negotiate a lower payoff amount on a current account WITHOUT an impact to my credit score? I know it's a long shot, but my thinking was the bank knows I want to pay them. They have also made a ton off of me. I have the money to pay the balance in full (barely) but it would drain most of my savings. I want to negotiate like a $6-7k payoff on the current balance...

Is something like this possible? Any advice is genuinely appreciated!

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