Credit utilization is an important component of your credit score. Our credit utilization ratio calculator can tell you whether your credit utilization is helping or hurting your credit. Just plug in details for up to five of your credit lines, including balances and credit limits, and you’ll have your total credit utilization at your fingertips!
You can improve your credit utilization by using less than 30% of your credit limit on all credit cards. Lower is better, as long as the account is active!
Learn more about credit utilization and how to improve it.
How Is Credit Utilization Ratio Calculated?
To calculate your credit utilization ratio use this simple formula: Divide your total debt on revolving credit by your total available credit limit on your revolving accounts.
Total Debt / Total Credit = Credit Utilization Ratio