If you don't want your FICO credit score to go down don't settle on your credit card. When you settle you are not fulfilling your obligation to repay the full amount of debt you are responsible for. Settling on an account will definitely have a negative consequence on your FICO credit score. There is a slim chance around this though. If you have always had fantastic credit credit in the past, have been laid off from your job, or had a medical catastrophe(like triple bypass heart surgery or cancer), and the debt wasn't huge- you may be able to convince the credit card company to not report the settlement, but be prepared to provide documentation for your case.
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