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The bit-length of a CSR and private key pair determine how easily the key can be cracked using brute force methods. A key size of 512 bits is considered weak and could potentially be broken in a few months or less with enough computing power. If a private key is broken, all the connections initiated with it would be exposed to whomever had the key. A bit-length of 1024 is exponentially stronger, however, it is more and more likely to be broken as computing power increases. The Extended Validation guidelines that SSL certificate providers are required to follow (https://cabforum.org/documents.html), require that all EV certificates use a 2048-bit key size to ensure their security well into the future. Because of this, most providers encourage 2048-bit keys on all certificates whether they are EV or not.
