Question

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?

Answer 1

Thank you for asking this question. Here is your answer:

First of all we will solve this:

415 + 215 / 1000 + 750

= 36%

36% is the final answer for this question.

The credit utilization is the limit about how much cards are used.

It is what tells us about the card limits for the credit card balances.

If there is any confusion please leave a comment below.