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Use this calculator to figure your balance-to-limit ratio or what percentage of your available credit card debt you are actually using. A low balance-to-limit ratio indicates you use your available credit wisely, which is important to lenders and plays a significant part in credit risk scores. In general, it is better to leave credit card accounts open if you have zero balances than it is to close them, especially if there is no negative activity associated with the account. That's because for each zero balance credit card account you close, your balance-to-limit ratio goes up, and it suddenly looks like you may be overusing your credit. Unused credit results in a lower balance-to-limit ratio.

Input Fields:
Title A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Credit Card Issuers The credit card issuer - Visa/MasterCard might be enough, or the name of the issuing bank. This field is just to help you identify which card this is.
Balances Your current outstanding balance on this credit card.
Limits Your credit limit for this credit card.

Output Fields:
Ratios 'Balance' / 'Limit' gives the percentage or ratio of how much of the limit is used for this card.
Totals Add the 'Balances' and 'Limits' down the columns. Calculate 'Total Balance' / 'Total Limit' to give the total percentage or ratio of how much of the total limit of all your credit cards is used.

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All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Credit Card calculators are intended only to provide comparisons that may assist you with making decisions regarding how to handle your credit. All credit card obligations need to paid each month by their individual due dates. Check all statements from credit card issuers carefully to make sure you pay at least the minimum stated on each. If you have serious credit card debt problems, please seek the advice of a qualified professional who is fully aware of your individual circumstances.
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Updated 04 Jul 2007