To better understand how your individual utilization rate is calculated, let’s run through an example: If you spend $500 on a credit card with a $5,000 credit limit, that equals a 10 percent ...

First off, what is the credit utilization rate? Credit utilization rate refers to the percentage of balance you use against your available balance. For example, let’s say you take out a credit ...

Select asked representatives of two credit bureaus, Equifax and TransUnion, for the data they had on average credit utilization rates. According to an Equifax spokesperson, the average credit ...

In the world of credit scoring, credit utilization is one of the most important factors. In fact, this factor is second only to payment history in importance to your FICO score (weighing in at 30 ...