How do you find out your utilization?

[Anonymous]

I can't seem to figure it out!

[Anonymous]

Balance divided by CL.

For overall util..........add all your balances divide by sum of all your CL's.

[MidnightVoice]

In simple terms, it is the total amount of revolving credit debt reported to the CRA as a percentage of the total credit limits of those credit cards.

Example

Two cards at a CL of $5,000, total available credit is $10,000

Reported to the CRA - one at $1,000 owing, one at $2,000 owing

Utilization is ($1,000 + $2,000 out of $10,000) or 30%

[Anonymous]

What would be a good over all util?

[MidnightVoice]

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RUSTY101 wrote:

What would be a good over all util?

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For highest FICO score - less than 10%

[llecs]

You can also find it on page 2 or 3 of EQ and TU's FICO report, usually.