10+ The Best Ways What Percentage Of Credit Card Should You Use. 1 answerthe best credit utilization ratio is 1% to 10%. Some prefer to live without a credit card and avoid the temptation to. You can use as much of your credit limit as you like. ($800 / $2,000 = 0.4 x 100 = 40%) your.
However, the 30% rule is a maximum limit when it comes to the calculation of your fico score. 4.4/5 ( 60 votes ) many credit experts say you should keep your credit utilization ratio — the percentage of your total credit that you use — below 30% to maintain a good or excellent. According to experian, millennials have an average of 2.5 cards each, while baby boomers average 3.5.
Even if you pay your credit card balances in full every month, simply.
For example, if you owe $1,000 on a credit card with a $10,000 credit line, your. Terence lakin | last update: For example, if you have one credit card with a $2,000 credit limit and you charge an average of $1,800 a month to your card, then your credit utilization ratio—the amount of your.
Even If You Pay Your Credit Card Balances In Full Every Month, Simply.
So, if you have an $800 credit card balance on your chase freedom® and you have a $2,000 credit card limit, your credit utilization rate is 40%:
Conclusion of 10+ The Best Ways What Percentage Of Credit Card Should You Use.
To calculate your credit card utilization ratio, divide your current balance by your credit limit.