Watch Your Holiday Spending

BURLINGTON, ON, Dec. 14, 2012 /CNW/ - Even if you pay your bills on time, your credit score can still be affected. Sometimes this only comes to light when you're trying to buy something that needs credit, like a car. Then a bad credit car loan becomes your only option.

So why, if you paid everything on time is your credit score regarded as less than perfect?

Your payment history makes up 40% of your credit score. If you find yourself having to apply for a bad credit car loan, it isn't always because you don't pay your debts.

One reason is utilization rate. As part of your score, you are judged not only on how you handle your debts, but how much debt and this is why you should be careful this Holiday Season.  The more available credit you use, the more of a risk you are viewed.

Car Loan 4 You has offices in Mississauga & Hamilton and can help. If you need a new car and get referred for a bad credit car loan, don't take it personally. Risk is considered very differently now than it was 5 years ago, come see us for advice.

For more info, visit:

http://www.CarLoan4You.Ca

SOURCE: Car Nation Canada

For further information:

Ivan Sandoval, Internet Marketing Manager

isandoval@carnationcanada.com