You need it when you want to buy or lease a car, increase credit card limits for travel, open accounts for entrepreneurial endeavors, get a mortgage, and so on. (renttrack.com)
The credit utilization represents the average credit card balance as a percent of credit card limit. (smartasset.com)
Lenders can deny you a loan or cut back on credit card limits whenever they feel like it, especially when economic times get bad. (investitwisely.com)