Credit utilization on a $1,500 credit limit
On a $1,500 total limit, 30% utilization equals $$450. FCAC recommends trying to use less than 30% of your total available credit.
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How the percentage is calculated
Credit utilization is your reported revolving balance divided by your available credit limit. With a $1,500 limit, a $$450 balance is 30%, while $$300 is 20%.
Why 30% appears so often
The Financial Consumer Agency of Canada says to try to use less than 30% of your total credit limit. That is a practical benchmark rather than a guarantee of a particular credit score. Payment history, age of accounts and other factors also matter.
One card versus total utilization
If you have several cards, look at the combined limits and balances as well as individual cards. A $1,500 example is useful for quick math, but your actual total available revolving credit may be different.
Official source
Financial Consumer Agency of Canada — improving your credit score →
More credit tools
Use the full Credit Utilization Calculator →
Secured Credit Card Deposit Calculator →
Credit Utilization Reference Table →
General educational information only. Credit scoring models are proprietary and can consider factors beyond utilization.