These special and fairly expensive seals will increase the level cap by 5. You can use as much Eternal Seals as you want until the character reaches the ultimate level cap of 99. This can only be used by a max level character. Base and Advanced Classes have a level cap of 20 each. Special Classes have a cap of 40 (usually these classes don't have base and advanced tiers) A maxed out character can't earn EXP anymore and thus, can't level up. Since Re-Classing preserves the level, that character won't be able to learn the new skills that class/job has to offer.
After Re-Classing, the game allows a high-level unit to learn the new class's skills, including the base ones, for every level up. That said, it's ideal to re-class an advanced job at LV15 so he/she can still fully learn another class's base and advanced skills up to LV19.
Using the data above, let's have an example. For example, your avatar (so far the most flexible unit with a lot of Re-Classing opportunities) is a LV15 Nohr / Hoshido Noble, which at this point, should have learned the class's LV15 skill (Hoshidan Unity / Nohrian Trust). If your avatar changes job to Paladin, he/she will be able to learn the following skills per level up:
LV16 - Elbow Room (Cavalier skill, default)
LV17 - Shelter (Cavalier skill, LV10)
LV18 - Defender (Paladin skill, LV5)
LV19 - Aegis (Paladin skill, LV15)
Now let's say you want to re-class again to a General. The skill your avatar can learn will be the following:
LV20 - Defense +2 (Knight skill, default)
**Use Eternal Seal**
LV21 - Natural Cover (Knight skill, LV10)
LV22 - Wary Fighter (General skill, LV5)
LV23 - Pavise (General skill, LV15)
Now let's say you have already access to two of the best defensive skills in the game but you still want your character to be even more powerful and you have access to the Shrine Maiden / Monk jobs:
LV24 - Miracle (Monk/Shrine Maiden, default)
LV25 - Rally Luck (Monk/Shrine Maiden, LV10)
**Use Eternal Seal**
LV26 - Renewal (Great Master/ Priestess, LV5)
LV27 - Countermagic (Great Master/ Priestess, LV15)
Doing this is pretty expensive and time-consuming but within reasonable bounds.