MoneyWellth calculates your overall credit utilization by dividing your total credit balances by your total available credit limits across all connected credit accounts.
Example:
If your connected credit cards have:
- Total balances of $3,000
- Total credit limits of $10,000
- Your credit utilization would be 30%.
MoneyWellth also displays utilization percentages for individual credit accounts, allowing you to identify which accounts contribute most to your overall utilization.