Credit Utilization worksheet

1. Overall credit utilization: 11.67%

1. Add up the balances on every card

   $\mathrm{\$1,100.00}+\mathrm{\$475.00}$$=\mathrm{\$1,575.00}$

2. Add up the credit limits on every card

   $\mathrm{\$10,000.00}+\mathrm{\$3,500.00}$$=\mathrm{\$13,500.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,575.00}}{\mathrm{\$13,500.00}}\times 100$$=\mathrm{11.67\%}$

4. Find the most you could owe and stay at 20% of your total limit

   $\frac{20}{100}\times \mathrm{\$13,500.00}$$=\mathrm{\$2,700.00}$

5. Good news: you already owe no more than that, so nothing needs paying down

   $\mathrm{\$0.00}$$=\mathrm{\$0.00}$

6. Card 2 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$475.00}}{\mathrm{\$3,500.00}}\times 100$$=\mathrm{13.57\%}$

2. Overall credit utilization: 23.05%

1. Add up the balances on every card

   $\mathrm{\$950.00}+\mathrm{\$410.00}$$=\mathrm{\$1,360.00}$

2. Add up the credit limits on every card

   $\mathrm{\$2,500.00}+\mathrm{\$3,400.00}$$=\mathrm{\$5,900.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,360.00}}{\mathrm{\$5,900.00}}\times 100$$=\mathrm{23.05\%}$

4. Find the most you could owe and stay at 10% of your total limit

   $\frac{10}{100}\times \mathrm{\$5,900.00}$$=\mathrm{\$590.00}$

5. Subtract that from what you owe now to see how much to pay down

   $\mathrm{\$1,360.00}-\mathrm{\$590.00}$$=\mathrm{\$770.00}$

6. Card 1 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$950.00}}{\mathrm{\$2,500.00}}\times 100$$=\mathrm{38\%}$

3. Overall credit utilization: 25.71%

1. Add up the balances on every card

   $\mathrm{\$1,425.00}+\mathrm{\$580.00}$$=\mathrm{\$2,005.00}$

2. Add up the credit limits on every card

   $\mathrm{\$5,000.00}+\mathrm{\$2,800.00}$$=\mathrm{\$7,800.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$2,005.00}}{\mathrm{\$7,800.00}}\times 100$$=\mathrm{25.71\%}$

4. Find the most you could owe and stay at 10% of your total limit

   $\frac{10}{100}\times \mathrm{\$7,800.00}$$=\mathrm{\$780.00}$

5. Subtract that from what you owe now to see how much to pay down

   $\mathrm{\$2,005.00}-\mathrm{\$780.00}$$=\mathrm{\$1,225.00}$

6. Card 1 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$1,425.00}}{\mathrm{\$5,000.00}}\times 100$$=\mathrm{28.5\%}$

4. Overall credit utilization: 25.95%

1. Add up the balances on every card

   $\mathrm{\$1,175.00}+\mathrm{\$460.00}$$=\mathrm{\$1,635.00}$

2. Add up the credit limits on every card

   $\mathrm{\$2,500.00}+\mathrm{\$3,800.00}$$=\mathrm{\$6,300.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,635.00}}{\mathrm{\$6,300.00}}\times 100$$=\mathrm{25.95\%}$

4. Find the most you could owe and stay at 30% of your total limit

   $\frac{30}{100}\times \mathrm{\$6,300.00}$$=\mathrm{\$1,890.00}$

5. Good news: you already owe no more than that, so nothing needs paying down

   $\mathrm{\$0.00}$$=\mathrm{\$0.00}$

6. Card 1 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$1,175.00}}{\mathrm{\$2,500.00}}\times 100$$=\mathrm{47\%}$

5. Overall credit utilization: 16.6%

1. Add up the balances on every card

   $\mathrm{\$1,800.00}+\mathrm{\$400.00}$$=\mathrm{\$2,200.00}$

2. Add up the credit limits on every card

   $\mathrm{\$10,000.00}+\mathrm{\$3,250.00}$$=\mathrm{\$13,250.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$2,200.00}}{\mathrm{\$13,250.00}}\times 100$$=\mathrm{16.6\%}$

4. Find the most you could owe and stay at 30% of your total limit

   $\frac{30}{100}\times \mathrm{\$13,250.00}$$=\mathrm{\$3,975.00}$

5. Good news: you already owe no more than that, so nothing needs paying down

   $\mathrm{\$0.00}$$=\mathrm{\$0.00}$

6. Card 1 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$1,800.00}}{\mathrm{\$10,000.00}}\times 100$$=\mathrm{18\%}$

6. Overall credit utilization: 12.85%

1. Add up the balances on every card

   $\mathrm{\$1,350.00}+\mathrm{\$320.00}$$=\mathrm{\$1,670.00}$

2. Add up the credit limits on every card

   $\mathrm{\$10,000.00}+\mathrm{\$3,000.00}$$=\mathrm{\$13,000.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,670.00}}{\mathrm{\$13,000.00}}\times 100$$=\mathrm{12.85\%}$

4. Find the most you could owe and stay at 10% of your total limit

   $\frac{10}{100}\times \mathrm{\$13,000.00}$$=\mathrm{\$1,300.00}$

5. Subtract that from what you owe now to see how much to pay down

   $\mathrm{\$1,670.00}-\mathrm{\$1,300.00}$$=\mathrm{\$370.00}$

6. Card 1 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$1,350.00}}{\mathrm{\$10,000.00}}\times 100$$=\mathrm{13.5\%}$

7. Overall credit utilization: 36%

1. Add up the balances on every card

   $\mathrm{\$1,400.00}+\mathrm{\$400.00}$$=\mathrm{\$1,800.00}$

2. Add up the credit limits on every card

   $\mathrm{\$2,500.00}+\mathrm{\$2,500.00}$$=\mathrm{\$5,000.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,800.00}}{\mathrm{\$5,000.00}}\times 100$$=\mathrm{36\%}$

4. Find the most you could owe and stay at 10% of your total limit

   $\frac{10}{100}\times \mathrm{\$5,000.00}$$=\mathrm{\$500.00}$

5. Subtract that from what you owe now to see how much to pay down

   $\mathrm{\$1,800.00}-\mathrm{\$500.00}$$=\mathrm{\$1,300.00}$

6. Card 1 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$1,400.00}}{\mathrm{\$2,500.00}}\times 100$$=\mathrm{56\%}$

8. Overall credit utilization: 17.71%

1. Add up the balances on every card

   $\mathrm{\$1,250.00}+\mathrm{\$450.00}$$=\mathrm{\$1,700.00}$

2. Add up the credit limits on every card

   $\mathrm{\$5,000.00}+\mathrm{\$4,600.00}$$=\mathrm{\$9,600.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,700.00}}{\mathrm{\$9,600.00}}\times 100$$=\mathrm{17.71\%}$

4. Find the most you could owe and stay at 10% of your total limit

   $\frac{10}{100}\times \mathrm{\$9,600.00}$$=\mathrm{\$960.00}$

5. Subtract that from what you owe now to see how much to pay down

   $\mathrm{\$1,700.00}-\mathrm{\$960.00}$$=\mathrm{\$740.00}$

6. Card 1 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$1,250.00}}{\mathrm{\$5,000.00}}\times 100$$=\mathrm{25\%}$

9. Overall credit utilization: 11.9%

1. Add up the balances on every card

   $\mathrm{\$1,100.00}+\mathrm{\$400.00}$$=\mathrm{\$1,500.00}$

2. Add up the credit limits on every card

   $\mathrm{\$10,000.00}+\mathrm{\$2,600.00}$$=\mathrm{\$12,600.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,500.00}}{\mathrm{\$12,600.00}}\times 100$$=\mathrm{11.9\%}$

4. Find the most you could owe and stay at 20% of your total limit

   $\frac{20}{100}\times \mathrm{\$12,600.00}$$=\mathrm{\$2,520.00}$

5. Good news: you already owe no more than that, so nothing needs paying down

   $\mathrm{\$0.00}$$=\mathrm{\$0.00}$

6. Card 2 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$400.00}}{\mathrm{\$2,600.00}}\times 100$$=\mathrm{15.38\%}$

10. Overall credit utilization: 15%

1. Add up the balances on every card

   $\mathrm{\$1,300.00}+\mathrm{\$560.00}$$=\mathrm{\$1,860.00}$

2. Add up the credit limits on every card

   $\mathrm{\$10,000.00}+\mathrm{\$2,400.00}$$=\mathrm{\$12,400.00}$

3. Divide what you owe by your total limit to see what share of your credit you're using

   $\frac{\mathrm{\$1,860.00}}{\mathrm{\$12,400.00}}\times 100$$=\mathrm{15\%}$

4. Find the most you could owe and stay at 30% of your total limit

   $\frac{30}{100}\times \mathrm{\$12,400.00}$$=\mathrm{\$3,720.00}$

5. Good news: you already owe no more than that, so nothing needs paying down

   $\mathrm{\$0.00}$$=\mathrm{\$0.00}$

6. Card 2 uses the biggest share of its own limit, which reports can show too

   $\frac{\mathrm{\$560.00}}{\mathrm{\$2,400.00}}\times 100$$=\mathrm{23.33\%}$