What is Charge-Off?

When a credit card issuer writes off your debt as a loss after prolonged non-payment (typically 180 days).

When a credit card issuer writes off your debt as a loss after prolonged non-payment (typically 180 days). The debt is still owed and may be sold to a collection agency. A charge-off is one of the most damaging marks on a credit report, remaining for 7 years.

Closely related concepts include Credit Report. Each of these helps clarify different aspects of the same topic.

Charge-Off is a account management concept. It typically appears in the context of balance management, payments, and card lifecycle.