Credit Utilization Calculator
Calculate your credit utilization ratio to understand how your credit card balances affect your credit score. Learn optimal utilization strategies for better financial health.
Step 1: Credit Card Balances
Understanding Credit Utilization
Credit utilization is the percentage of your available credit that you’re currently using. It’s a key factor in your credit score, with experts recommending keeping it below 30%.
Step 2: Calculation Parameters
Impact on Credit Score
Credit utilization accounts for approximately 30% of your FICO score. Lower utilization rates generally lead to higher credit scores, with optimal rates below 10%.
Credit Utilization Results
Your Credit Utilization Ratio
Utilization Scenario Comparison
| Utilization Level | Balance Amount | Utilization % | Credit Score Impact |
|---|
Credit Score Impact Breakdown
Credit Utilization Formula
Utilization % = (Total Balance / Total Credit Limit) × 100
To calculate your credit utilization ratio: Divide your total credit card balances by your total credit limits, then multiply by 100 to get the percentage.
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