Credit Utilization
Credit utilization is the percentage of available revolving credit that a borrower is using. It is a key factor in credit scoring models.
Lower utilization generally signals lower risk and can improve credit scores. Utilization can be calculated per account or across all revolving accounts.
Related Terms
Credit Limit
A credit limit is the maximum amount a borrower can use on a revolving credit account. It applies to...
Credit Score
A credit score is a numerical rating that represents a person's creditworthiness based on their cred...
Credit
In banking, a credit is a transaction that increases the balance in your account. On your bank state...
FICO
Fair Isaac Corporation
FICO is the company that created the most widely used credit scoring model. A FICO score is a three-...
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