Is this Chase card worth paying off?

Questions › Is this Chase card worth paying off?

asked 4 years ago

I’ve been rebuilding my credit for the last few years, and over the last 6 or so months, really buckling down on utilization and CLI’s. I’ve gone from 68% utilization to ~10% but there is still one looming error that haunts me; a Chase Freedom closed, but not in collections accoring to my report.

My current accounts are as follows (from oldest to newest):

** Chase Freedom – 1600/1200

Last Reported – Jan 16, 2017

Opened Date – Jul 29, 2010

Closed Date – Mar 19, 2013

Date of Last Payment – Mar 04, 2014

Payment Status – Collection/Charge-Off

Amount Past Due – $ 1,623

Charged off as bad debt – Canceled by credit grantor

My other cards are all in good standing, and as follows:

RC Willey – 0/1200

Syncrony – 0/700

Quicksilver – 0/5800 (just upgraded from QS-ONE this week)

Syncrony – 1100/3500 (0%)

Visa w/CU – 500/5000 (will be paid off on Tuesday)

Discover – 900/2300 (will be paid off on Tuesday)

Amex BCE – 0/1000

Amex BCE – 0/8500 (auth user)

**As I understand it, if this Chase is not paid by the time the Statute of Limitations kick in and it becomes uncollectable, my relatinship with Chase will have been ruined (if it’s not already) and I will be denied an account with them in the future. Now, part of me is fine with that, because I’ve never had a worse banking experience, but it seems they hold a lot in the credit world. So my question is at this point, would you ride it out, or accept and pay the debt – by putting the charge on another card (both AMEX and DISC are 0% for 7 more months) – and paying it off? It’s due to fall of March 2019 according to a TransUnion rep.

My biggest goals are buying a house and new car in the next 2 years. My current FICO score for this month is TU is 681 and EXP 661 (according to Discover and Amex respectively). 750 is the goal.

What say ye?

Thanks for any advice!

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