The proportion of balances to credit limits on your Revolving/charge accounts is 57%. The average proportion of balances to credit limits on revolving/charge accounts carried by U.S. consumers is around 34%. How do I calculate this? I am trying to figure out how much to pay off so I can get this % a bit lower. Thanks, Sandie
Take your outstanding balance and divide by the Cl> (OB/CL)x100 = %utilization If you have mutltiple cards take the sum of OB divided by sum of cl (times 100 to convert to percentage).
Sandie, First of all, the average consumer only uses 22.1% of available credit. To calculate, just add up the total of your credit limits and divide that by the amount of cc debt. Ex. $10000 cl and $2500 in cc debt and your utilization is 25%
Actually, it looks like my % is higher than EQ is reporting. If I am doing this correctly, I am coming up with 66%. Total CC limit: 11,450.00 Total CC used: 7,654.00
