8 smart habits Fastenal employees can adopt to help boost credit scores

Healthcare Provider Update: Healthcare Provider for Fastenal Fastenal, a leading distributor of industrial and construction supplies, typically offers employee healthcare benefits through a self-funded plan, managed by a third-party administrator. This allows them to customize their health benefits while controlling costs, with the objective of improving employee health and productivity. Potential Healthcare Cost Increases in 2026 As we approach 2026, Fastenal and its employees may face significant healthcare cost increases. Premiums in the Affordable Care Act (ACA) marketplace are projected to rise sharply-by as much as 66% in some states-due to various factors such as rising medical costs and the potential expiration of enhanced federal subsidies. This situation could result in many employees seeing out-of-pocket premium payments increase by over 75%, impacting their overall financial well-being and suggesting that Fastenal might need to adapt its healthcare strategies to mitigate employee healthcare expenses in the coming year. Click here to learn more

'Strong credit habits can give Fastenal employees greater flexibility when preparing for major financial decisions, especially as they transition toward retirement,' says Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'Fastenal employees who build and maintain strong credit habits may position themselves for smoother financial decisions in the years leading up to retirement,' says Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

1. How strong credit can support borrowing for major purchases.

2. Eight habits that may positively influence your credit score.

3. Ways to monitor and maintain the accuracy of your credit report.

When borrowing for a major purchase, strong credit can make the process smoother and possibly less expensive. Like preparing for a long-term project at Fastenal, progress comes from consistent effort over time—not rushing right before the deadline.

Here are eight habits that can support your credit score.

1. Make timely bill payments

Payment history is a major factor in credit scoring. Staying on top of due dates for loans and credit cards demonstrates reliability. Options like scheduled reminders or autopay can help keep everything flowing.

2. Maintain minimal credit balances

Using only a portion of your available credit—especially on revolving accounts like credit cards—can contribute to a stronger score. Credit utilization (how much of your borrowing limit you’re using) is a key consideration for lenders.

3. Keep older accounts open when it makes sense

The length of your credit history influences how strong your borrowing profile appears. Older accounts highlight more long-term behavior. However, if an account has high fees or encourages overspending, closing it may still be practical for some Fastenal households.

4. Limit unnecessary new credit applications

Applying for credit can trigger hard inquiries that temporarily place slight downward pressure on your credit score. Multiple inquiries for the same type of loan—like mortgage rate shopping—typically count as one within a defined window. Checking your own credit does not affect your score.

5. Maintain a healthy mix of credit types

Responsibly managing a blend of installment loans and revolving accounts can demonstrate financial flexibility. This doesn’t mean taking on debt that isn’t needed. However, thoughtfully managing different forms of credit over time may help strengthen your profile as life evolves during and after a Fastenal career.

6. Monitor your credit report regularly

You are entitled to free credit reports from the major bureaus—Equifax®, Experian®, and TransUnion®. Reviewing them can help identify errors, lingering balances, or signs of fraud. Staying proactive keeps your credit information accurate and up-to-date.

7. Dispute any reporting mistakes

If you find incorrect data on your report, you can file a dispute with the reporting bureau and contact the creditor at issue. Fixing errors can help make sure your score reflects your actual history.

8. Strengthen your overall financial picture

Budgeting, keeping debt manageable, and maintaining an emergency fund may make it easier to keep up with credit-related commitments. When finances stay organized, positive credit habits typically follow.

Need help planning for retirement?

A well-managed credit profile can be an important part of your overall financial life, including the transition into retirement. The Retirement Group can assist you as you prepare for your future. If you would like guidance, call  (800) 900-5867  to speak with our team.

Need help planning for retirement?

A well-managed credit profile can be an important part of your overall financial life, including the transition into retirement. The Retirement Group can assist you as you prepare for your future. If you would like guidance, call  (800) 900-5867  to speak with our team.

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Sources:

1. Consumer Financial Protection Bureau. “How Do I Dispute an Error on My Credit Report?”  CFPB , 18 Dec. 2024,  www.consumerfinance.gov/ask-cfpb/how-do-i-dispute-an-error-on-my-credit-report-en-314/ . Accessed 27 Oct. 2025.

2. Experian Editorial Team. “Do Multiple Loan Inquiries Affect Your Credit Score?”  Experian , 30 Aug. 2024,  www.experian.com/blogs/ask-experian/do-multiple-loan-inquiries-affect-your-credit-score/ . Accessed 27 Oct. 2025.

3. FICO. “What’s in My FICO® Scores?”  myFICO , n.d.,  www.myfico.com/credit-education/whats-in-your-credit-score . Accessed 27 Oct. 2025.

4. Federal Deposit Insurance Corporation. “Credit Reports.”  FDIC , 1 Aug. 2023,  www.fdic.gov/consumer-resource-center/credit-reports . Accessed 27 Oct. 2025.

5. Federal Trade Commission. “Free Credit Reports.”  FTC Consumer Advice , 2023–2024, consumer.ftc.gov/free-credit-reports. Accessed 27 Oct. 2025.