2026-08-31
Credit Utilization: What It Is and Why It Matters
Credit utilization is the share of your revolving credit you are using. How to calculate it, what it does and does not tell you and how scores read it.
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Personal finance, unbroken
Personal finance is broken
Let's unbreak it. Keep more of your money — and help us build finance that rewards people, not corporations.
Why we’re here
How is personal finance broken?
We say it a lot, so here’s what we mean. Three ways the system is quietly built against you — and the reason we’re trying to do things differently.
We owe more than ever
US households now carry a record $18.8 trillion1 in debt, with credit-card balances up 63% in five years1. For all the apps and advice out there, people keep sliding further into the red.
1 New York Fed Household Debt and Credit Report, Q1 2026
More access, no better off
It’s never been easier to check our own credit scores and reports. It was sold as putting you in control. Mostly it’s made the companies behind it richer on commissions and fees, while everyday finances haven’t really improved.
And it’s kept hard to follow
Fine print, vague fees and wide APR ranges make it genuinely hard to see what you’re signing up for, or to compare your options side by side. That confusion is exactly what keeps people stuck in debt.
Free tools
See what debt really costs
Run the numbers on what you owe or plan to borrow — monthly payments, payoff timelines and refinance savings.
Free, instant and no sign-up.
- Payment CalculatorEstimate your monthly payment and total interest across the life of a loan.
- Refinance CalculatorCompare your current loan with a new rate and term to see what you could save.
- Debt Payoff CalculatorAdd up your debts to see when you’ll be debt-free and how much interest you’ll pay at your current payments.
- Debt Snowball vs AvalancheCompare the debt snowball and avalanche methods to see which clears your debts sooner and costs less in interest.
Payment Calculator
ExampleMonthly payment$106.24over 60 payments
- Amount received$4,750
- Origination fees$250
- Interest$1,374.11
Total payments$6,374.11
Cost of loan$1,624.11
Borrowing $5,000 at 12.239% APR over 5 years costs you $1,624.11 in interest and fees.
Payment breakdown over time
PrincipalInterestBalance
Try it with your own numbers
Make the numbers yours
Add your debts to your account to see what you owe, compare ways to pay it off and even export the results as a spreadsheet.
Get early access
Create a free account and we'll let you know the moment new tools and features go live.
From the blog
Learn the fundamentals of finance
Empower yourself to make smarter financial decisions with our practical, jargon-free guides.
