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Your credit utilization rate, sometimes called your credit utilization ratio, is the amount of revolving credit you're currently using divided by the total amount of revolving credit you have available. In other words, it's how much you currently owe divided by your credit limit. They can impact up to 30% of a credit score (which makes them among the more influential factors), depending on the scoring model being used.

A low credit utilization rate shows you're using less of your available credit. Credit scoring models generally interpret this as an indication you're doing a good job managing credit by not overspending, and keeping your spending in check can help you reach higher credit scores.

Your credit utilization rate is just one of many factors that can affect your credit scores. It's important to understand how it works, and how you can manage credit utilization to make it work for you.

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