Consolidate Chase Southwest Rapid Rewards Card

Quote from esquire415 : Dumb question here....So why would you want to increase your limit? Is this necessary to increase your credit rating? If I never borrowed and always pay on time, does the credit limit matter?

"There are five major factors that influence your credit score: payment history (35%), level of debt/credit utilization (30%), age of credit (15%), mix of credit (10%), and credit inquiries (10%). Credit utilization has a big influence on your credit score, but what is it and how can you manage it to get the best credit score?

Calculating Credit Utilization

Credit utilization is the ratio of your credit card balances to credit limits as listed on your credit report. For example, if your balance is $300 and your credit limit is $1,000, then your credit utilization is 30%. To find out your credit utilization simply divide your credit card balance by your credit limit then multiply by 100. The lower your credit utilization, the better. That shows you're only using a small amount of the credit that's been loaned to you."