This app calculates credit utilization using current credit card balance and limit. Users may add up to 5 credit cards by clicking the '+card' button. When all information has been added, the total and individual credit utilizations are calculated. Individual credit utilization is the the percent utilization for a single card, while total credit utilization is percentage utilization across all credit cards
Credit utilizations greater than 30% will be displayed in red text, since this is the recommended max.
The calculations are derived with the following formulas:
Individual:
(balance * 100) / limit
Total:
(total balance * 100) / total limit
EXAMPLE:
card 1 - balance: 100, limit: 1000
card 2 - balance: 200, limit: 2400
card 3 - balance: 300, limit: 4000
card 1 utilization: (100 * 100) / 1000 = 10.00%
card 2 utilization: (200 * 100) / 2400 = 8.33%
card 3 utilization: (300 * 100) / 4000 = 7.50%
total utilization: [(100 + 200 + 300) * 100] / (1000 + 2400 + 4000) = 8.11%
navigate to directory
cd credit-utilization-calculator-main
install dependencies
npm install
run the app in development mode
npm start