How to Figure Out Debt to Credit Ratio

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Posted: Thu Sep 23, 2004 6:14 pm
Post subject: How to Figure Out Debt to Credit Ratio
Mary
Date: 3/11/2001 2:48 am CDT

Can anyone explain how they figure your debt to credit
ratio?
Thank You

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archive
Posted: Thu Sep 23, 2004 6:14 pm
Post subject: How to Figure Out Debt to Credit Ratio

Mom
Date: 3/11/2001 7:56 am CDT

Add your total balances on all your credit cards accounts, then add your limits up. Now take the total of your balances owed and divide than by your totoal limits to get your debt ratios.

Example: Card A 500.00 balance 1000 limit
Card b 800.00 Balance 2000 Limit
Card c 600.00 Balance 3000 limit

Total balance is 1900, total limits are 6000 your debt ratio would be 1900 divided by 6000 which would be 32%. Hope this helps:)

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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