Can anyone tell me what this term "charge-off" means? I'm WAY behind on payments for a credit card and they told me today I am at day 162 of a 180-day period after which they will charge-off my account. What happens after that?

I think it means that they sell of your debt to a debt collection place. I think that this is something you don't want to happen because it will be reported on your credit history as a bad debt. (I don't have a card myself, but family members have them). If I were you and this is just my personal advice- I would call them up see if they will work with you perhaps to make your min payments smaller, also if you get those 0% credit offers for one year look into transferring all your debt from this card to a new one (then pay it off in the one year time-frame). BUT! Don't close the old account because then you lose your credit history if you do.