Credit Utilization Calculator
Enter the balance and credit limit for up to three cards. Balances of $3,300.00 on $10,000.00 of limits give an overall utilization of 33%.
How the credit utilization calculator works
Credit utilization is the share of your available revolving credit that you are using: balances divided by limits. Scoring models consider it, and lower is generally better. A figure under 30 percent is a commonly cited guideline, not a rule, and no single number guarantees a score.
The formulas
Example: Balances of $3,300.00 on limits of $10,000.00 give a utilization of 33%. Card 1 alone is at 48%. To reach a 30 percent target you would pay down $300.00.
Notes and limits
- Scoring models differ and use balances reported on the statement date.
- Paying before the statement closes can lower the reported balance.
- Closing a card lowers your total limit and can raise utilization.
Figures are estimates for planning and are not financial advice. Check your own agreement or statement for exact terms.
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Frequently asked questions
How do I calculate credit utilization?
Divide your total card balances by your total credit limits. The default is 33%.
What is a good credit utilization?
Lower is generally better. Under 30 percent is a commonly cited guideline, but no number guarantees a score.
Does each card matter or only the total?
Models often consider both overall and per-card utilization.
When is the balance reported?
Usually on the statement closing date, not the payment due date.
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