@Anonymous wrote:
Absolutely! So, I don't really need a CC with a CL if I plan on keeping the utilization between 1-9%, right?
And if I'm right, how does having a higher CL help you?
That's true and I've lost track of how many cards you have right now. There is an approach that many use to tweak their scores. Everyone's situation is different and there is no one size fits all approach to this but what seems to work well for most people is to have only one of their cards report a small (<9% of it's credit limit) balance each month and then pay in full before the due date. You can use it as much as you want during the month but what's important is the reported balance because for most cards whatever is reported on the monthly statement is what is used to calculate utilization for the month.
You might have to play around with the percentages for a few months to see what works best for you. Some people say that 1-3% utilization helps the most. For others it might be 5-9%. As I said it's not one size fits all.
On any other cards always try and have them report a zero balance each month. That doesn't mean you can't use them just make sure that the desired zero balance on these accounts is achieved several days before their statements post.
Along with individual and overall utilization, FICO also scores the number of all types of accounts reporting a balance.at any one time Making sure less than half of all your accounts report a balance helps most people.
Now this approach really isn't necessary if you're not looking to apply for any credit in the near future or unless you are trying to tweak your score for maximum effect but some folks do this as a hobby just to see how high they can get their score.
People have different reasons for trying to obtain and keep high CL's. For a few it comes down to bragging rights. "Look what I've got". For others they know they have the resources to make a large purchase at some point.
For me I look at having my total CL's pretty high as a buffer against possible future AA (Adverse Action such as a account closure, CLD (Credit Limit Decrease, etc.). A few years ago BoA closed my LOC which happened to be my highest CL because they said I "had enough credit". Whatever that means. 
Fortunately my other CL's were high enough and my balances low enough that losing this CL did not have a huge impact on my utilization and therefore my scores.
