You should accept a higher credit limit if you need to reduce your credit utilization ratio. A ratio higher than 30% can hurt your credit score. The easiest way to lower it is with a credit limit increase. If you're already offered one, it's even easier.
Be aware, though, if the offer says you “may” be eligible for an increase, accepting it might result in a hard pull on your credit, lowering it for a short period of time.
You could also consider accepting a higher credit limit to have a financial cushion is a case of emergency.
Also, with more credit you can earn more rewards. Only consider this if you can really afford to spend more.
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