What Is Overall Credit Utilization?
Your overall (aggregate) credit utilization ratio is the percentage of your total available revolving credit that you are currently using across all your credit cards combined. It is one of the most influential factors in your credit score, typically accounting for around 30% of FICO and VantageScore models. Lenders use it as a quick signal of how reliant you are on borrowed money.
How to Use This Calculator
Enter the current statement balance and the credit limit for each of your cards. Leave any unused card rows at zero. The calculator adds up all balances and all limits, then divides the totals to give your aggregate utilization percentage. It also shows your combined available credit.
The Formula Explained
The calculation is simply:
$$\text{Utilization} = \frac{\sum \text{Balances}}{\sum \text{Limits}} \times 100\%$$where
$$\left\{ \begin{aligned} \sum \text{Balances} &= \text{Bal}_1 + \text{Bal}_2 + \text{Bal}_3 + \text{Bal}_4 \\ \sum \text{Limits} &= \text{Lim}_1 + \text{Lim}_2 + \text{Lim}_3 + \text{Lim}_4 \end{aligned} \right.$$Unlike per-card utilization, the aggregate figure pools every card together, so a maxed-out card can be partly offset by others with large unused limits.
Worked Example
Suppose you have three cards: $500 balance on a $2,000 limit, $1,200 on a $5,000 limit, and $0 on a $3,000 limit. Total balances = \(\$1{,}700\); total limits = \(\$10{,}000\). Overall utilization =
$$\frac{1{,}700}{10{,}000} \times 100 = \textbf{17\%}$$which sits comfortably in the healthy range.
FAQ
What utilization is considered good? Keeping overall utilization below 30% is the common guideline, and under 10% is ideal for maximizing your score.
Should I close unused cards? Closing a card removes its limit from the total, which can raise your utilization ratio and lower your score. Often it's better to keep zero-balance cards open.
Does the calculator use statement or current balance? Credit bureaus usually report your statement balance, so use that figure for the most accurate estimate of what lenders see.
