Credit utilization is the percentage of your available credit that you are currently using. It is calculated by comparing your credit account balances to your total available credit limits.
For example, if you have a total credit limit of $10,000 across your credit cards and a total balance of $2,500, your credit utilization is 25%.
At MoneyWellth, we recommend keeping your credit utilization below 30% whenever possible. Staying below this threshold will support healthy credit habits and is one of the key ways to help maintain a strong credit score.
MoneyWellth's Credit Utilization feature helps you monitor your utilization across all connected credit accounts and identify when it approaches or exceeds recommended levels.