Util % Calculation...

[22_broke_and_in_debt]

I'm trying to calculate what my debt to available credit % is. I'm just wondering if I should include an installment loan I have as part of it.

I know that the balance of the loan is included in my debt to income ratio, but I'm not sure how it factors in as far as util.

The original amount was for $8,796, and it's now down to $6,754. Not sure how I should factor that in.

Thanks!

~Still broke, and still in debt, and almost 23...

[llecs]

Per your FICO score, installment is treated seperately from CCs and installment utilization counts much, much lower than CCs. IMO, it is such a small part that I recently paid my installment util. from about 30% to less than 10% and there was no change in score.

Take each CC and divide the balance into the CL. Be sure to include any CC COs if factored in. To cheat, you can look on page 2 or 3 of your FICO report and possibly see the util there too.