The Finance Algorithm

Credit Utilization Calculator

Calculate your credit utilization ratio and its impact on your credit score

Updated October 2026Built and checked by MaverickHow it's calculatedReport an error

Your numbers

Updates as you type
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$10k
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$3k
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$5k
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$5k
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$0
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$0
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30%

The share of your limits you'd like to get down to. 30% is a common rule of thumb.

The button asks our AI to explain these figures in words.

Credit utilization

Overall utilization

50.0%

$7,500 / $15,000

Available credit

$7,500

unused limits

Worst card

90%

Card 2

Paydown to target

$3,000

to hit 30% overall

Used vs available credit

Lenders assessing a loan count your card limits, used or not, so unused limits can cut how much you can borrow.

50.0%utilization
Used50.0%
Available50.0%

Each card has its own ratio

Red cards are above your target. A card near its limit leaves little room for surprises, and interest builds on any balance you don't clear.

  • At or under 30%
  • Over 30%
30%Card 1$3,000 / $10,00090%Card 2$4,500 / $5,000
Australian credit reports don't include card balances. They record each card's limit and whether you paid on time, so paying on time matters most for your score. Paying down the card using most of its limit (Card 2) by $3,000 brings it to your target of 30%.

How it works

Credit utilisation is the share of your card limits you're using. In Australia, credit reports record each card's limit and whether you paid on time, but not the balance, so utilisation isn't on your report. It still matters: a card near its limit leaves no room for emergencies, and lenders count your limits, not balances, when you apply for a loan.

  1. 1Enter each card's credit limit and current balance
  2. 2Add all cards you have
  3. 3See your overall and per-card utilization
  4. 4See how much to pay down to reach your target

The figures today

As of 7 November 2026, the lowest credit card purchase rate is 7.49%, from Unity Bank's Low Rate Visa Credit Card, while the typical best across 51 institutions is 12.49%.

Credit card rates

Worked examples

Multi-Card Utilisation

Card 1: $3,000 of a $10,000 limit. Card 2: $4,500 of $5,000. Card 3: $0 of $8,000. Target: 30%.

Card 1 credit limit
$10,000
Card 1 current balance
$3,000
Card 2 credit limit
$5,000
Card 2 balance
$4,500
Card 3 credit limit
$8,000
Card 3 balance
$0
Target utilization
30%

Overall $7,500 of $23,000 is 32.6%, so $600 more paid off brings it to 30%. Card 2 is at 90% of its limit; paying $3,000 off it brings it to 30%. Lenders assessing a loan count all $23,000 of limits, used or not.

Questions people ask

What's the ideal credit utilization?
There's no official figure. Pick a target that leaves you room for emergencies - the calculator shows how much to pay down to reach it.
Does it help to pay before the due date?
Balances aren't on Australian credit reports, so timing payments for your score doesn't apply. What's recorded is whether you paid at least the minimum by the due date - pay on time every month.
Should I request a higher limit?
Not for your credit report, which doesn't show balances. A higher limit also counts against you when you apply for other credit. Ask for a lower limit if you don't need it.

The terms, in plain English

Credit Utilization
The percentage of your available credit that you're using.
Statement Closing Date
The date your card's statement period ends; purchases after it appear on the next statement.
Credit Limit
The maximum amount you can charge to a credit card.

Official sources

Payoff Calculator

Pay down high balances

Credit Limit Calculator

Should you request an increase?