What is my Utilization of Credit?

[Anonymous]

I writing in hopes that someone will be able to tell me what my utilization is. I have a target visa card with a 3200 credit line I have used 2458 of that. I have a bealls card with a 600 dollar limit I have a balance of 4 dollars on it. Then I have a Macys card with a credit line of 200 with a zero balance. What is my UTIL?

[Anonymous]

you are at around 76%.  You should be under 9%.

The Target card is almost maxed out.

[Anonymous]

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@Anonymous wrote:

you are at around 76%.  You should be under 9%.

The Target card is almost maxed out.

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So for FICO score purposes utilization is solely based on your maximum util card? Because the OP Target card is at 76% util but total util of all cards would be around 62%. Which one factors in?

[haulingthescoreup]

Total util is the main driver, but if some cards are nearly maxed, this can bite you, too.

Calculating your total util:

2458 + 4 + 0 = 2462
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3200 + 600 + 200 = 4000

2462 / 4000 = 61.55% util, so yes, 62% total util.

Of course, 62% is still much too high. I'm assuming that the $4 balance on the Bealls slipped in --aim for having only one card (out of three) reporting a balance. hth