Math, asked by 2201102, 1 year ago

suppose you have two credit cards. The first has a balance of $415 and a credit limit of $1,000. The second has a balance of $215 and a credit limit of $750. What is your overall credit utilization?

Answers

Answered by somi173
0

Overall Credit = 1000 + 750 = 1750

Overall Balance = 415 + 215 = 630

Overall Usage = 1750 - 630 = 1120

Overall %age Usage = (1120/1750) × 100

                                   = 64 %




Answered by santy2
0

Credit utilization formula is given by :


Credit utilization = (Total balances on all credit cards) / (Total credit limits on all credit cards)


Total credit balances = 415 + 215 = $ 630


Total credit limit = 1000 + 750 = 1750


Credit utilization = 630/1750 = 0.36


As a percentage :


0.36 × 100 = 36%


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