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If you have three credit cards with limits of $1,000, $2,000, and $3,000, and balances of $500, $1,000, and $1,500, what is your total credit utilization ratio?
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33.33%
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50%
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75%
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100%
That's Correct!
It's Wrong!
Calculate the ratio for each card: ($500 / $1,000) * 100 = 50%, ($1,000 / $2,000) * 100 = 50%, ($1,500 / $3,000) * 100 = 50%. Average ratio: (50% + 50% + 50%) / 3 = 150% / 3 = 50%.
