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Utilization question loc vs cc

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Regular Contributor

Utilization question loc vs cc

I only have 2 revolving accounts, my cc and loc

 

Would I calculate my overall util as 

 

cc owe 323 limit is 3500

loc owe 1985 limit is 2500

 

is this the correct way to caluclate this

6000/ 2308 so that leaves me utli at 38% OR

should it be calculated separately

 

323/3500 9%

1985/2500 79% ouch

 

Thanks

 

 

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Moderator

Re: Utilization question loc vs cc


@nate79416 wrote:

I only have 2 revolving accounts, my cc and loc

 

Would I calculate my overall util as 

 

cc owe 323 limit is 3500

loc owe 1985 limit is 2500

 

is this the correct way to caluclate this

6000/ 2308 so that leaves me utli at 38% OR

should it be calculated separately

 

323/3500 9%

1985/2500 79% ouch

 

Thanks

 

 


Your overall utilization is the 38% .  The other two are  the utilization percentages for those particular accounts.  Both overall and individual utilization can affect your credit score.

Message 2 of 3
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Regular Contributor

Re: Utilization question loc vs cc

ok so the 79% is hurting my scores 

Message 3 of 3
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