About how many points does a charged off credit card take of a FICO score?

Answer 1

About how many points are taken off a FICO score for a charge-off.

There is no way to say.

How long was the account opened before it went delinquent, what was the loss amount, the charge off ratio to the original balance or high credit, the type of account, length of delinquent period, it this related to a secured or unsecured agreement, are some of the factors which affect scores/points.

Finally, the FICO (and other scorers like Beacon) are only the first scorers. Most banks and creditors have a backside score system as well.

That means if the charge-off is with HFC, FICO might take off 50 points, Citibank another 25, but HFC (who absolutely doesn't want you ever again), 300.

Simply put, there is no easy answer.



However, a recent charge off will be costly.

Answer 2

Anyone who give you a number, or even a range, does not understand how FICO scores are calculated. I can tell you it won't change by more than 500 points. FICO scores range from 350 to 850. Nothing can change the score by more the 500.

Answer 3

It depends on hundreds of other factors.

Mainly amount of good credit you have to counteract it the negative credit.


Read this article, i found it fascinating:
http://www.expert-credit-advice.com/credit_score.htm


Shows you how FICO scores are calculated.......