Credit Utilization Calculator

Credit utilisation is the part of your available credit that you are using. A card with a limit of 1,00,000 and a balance of 38,000 is at 38 percent. It matters because scoring models treat a high ratio as a sign of financial strain, and a lower ratio is generally better for a credit score. The calculator gives the ratio for each card and for all of them together, and tells you how much to pay to bring it to a level you choose.

Per card and overall

There are two figures to watch. The overall ratio is total balances divided by total limits; it shows how much of all your credit you use. The per-card ratio shows which individual cards are near their limits. Scoring methods can look at both, and a single maxed-out card can hurt even when the overall figure is low. Write each card on its own line, as name, balance and limit, with commas.

A worked example

The sample has an everyday card with 38,000 owed on a limit of 1,00,000, a travel card with 6,000 on 1,50,000 and a store card with 18,000 on 25,000. Total balances are 62,000 against limits of 2,75,000, so overall utilisation is 22.5% and 2,13,000 of credit is available. The store card stands out at 72.0%, and the everyday card is at 38.0%, while the travel card is only 4.0%. To bring every card to 30% you would pay 8,000 on the everyday card and 10,500 on the store card; to reach 10% overall you would pay 34,500. In the second sample, two cards at 92% and 80% give an overall 88.0% and need 87,000 to reach 30%.

The target

The 30 percent and 10 percent figures are the ones most often mentioned in personal-finance advice. Scoring companies do not publish exact thresholds, and the effect of utilisation differs between models, so treat the numbers as guideposts. The target box sets the percentage for the payment calculation, and the page always shows the 10 percent amount as well, so you can see what an aggressive pay-down would take.

Timing matters

Most issuers report your balance to the credit bureaus on the statement date, not the due date. If you pay a large part of your balance before the statement closes, the reported figure is lower, even if you spend heavily during the month. That is why people with big spending but good habits can still show low utilisation. Check when each of your statements closes.

Edge cases

A card with a limit of zero is rejected. A balance above the limit gives a ratio over 100 percent, which is shown as it is. If your overall ratio is already below the target, the page says there is nothing to pay. Pay-down amounts per card are shown even when the overall ratio is acceptable, so you can fix the worst card first.

Limits

This is not a credit score and does not know how your bureau weighs utilisation. It also does not include other parts of credit scoring, such as payment history and the age of accounts, which usually matter more. Nothing you enter leaves your browser.

Related tools

• Debt Payoff Calculator plans how to clear the balances over time.
• Minimum Due Calculator shows what a card costs if you pay only the minimum.
• DTI Calculator looks at debt as a share of income instead of credit limits.
• Net Worth Calculator puts card balances alongside everything else you owe.