Credit utilization calculator

Credit utilization is your balance divided by your limit. Enter both to see your ratio and how much you would need to pay down to reach a lower level.

By Promissory.ca Editorial Team Reviewed against official Canadian sources Last updated: 2026-09-16

Current balance ($)

Credit limit ($)

Credit utilization

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How this calculator works

Divide your current balance by your credit limit.
Multiply by 100 to express the result as a percentage.
Subtract your balance from the target balance to find how much you need to pay down.

Formula: Utilization = balance ÷ credit limit × 100

Frequently asked questions

What is a good credit utilization ratio?

Many advisers suggest keeping utilization below 30% of your limit, and lower still if you are rebuilding credit. Lenders set their own thresholds, so treat 30% as a guideline rather than a rule.

Does utilization affect my credit score?

Utilization is commonly reported as a factor in credit scoring models. Lower utilization generally supports a stronger score, though the exact weighting is not published by the bureaus.

Should I close a card I do not use?

Closing a card reduces your total available credit, which can raise your overall utilization. Consider keeping it open with a small recurring charge you pay in full.

Sources

Financial Consumer Agency of Canada — Financial Consumer Agency of Canada

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