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8 smart habits Public Service Enterprise Group Incorporated employees can adopt to help boost credit scores

'Strong credit habits can give Public Service Enterprise Group Incorporated 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.

'Public Service Enterprise Group Incorporated 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:

How strong credit can support borrowing for major purchases.
Eight habits that may positively influence your credit score.
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 Public Service Enterprise Group Incorporated, 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 Public Service Enterprise Group Incorporated 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 Public Service Enterprise Group Incorporated 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?

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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.

What type of retirement savings plan does Public Service Enterprise Group Incorporated offer to its employees?

Public Service Enterprise Group Incorporated offers a 401(k) retirement savings plan to its employees.

How can employees of Public Service Enterprise Group Incorporated enroll in the 401(k) plan?

Employees of Public Service Enterprise Group Incorporated can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

Does Public Service Enterprise Group Incorporated provide matching contributions to the 401(k) plan?

Yes, Public Service Enterprise Group Incorporated offers matching contributions to the 401(k) plan, subject to certain eligibility criteria.

What is the maximum contribution limit for the 401(k) plan at Public Service Enterprise Group Incorporated?

The maximum contribution limit for the 401(k) plan at Public Service Enterprise Group Incorporated aligns with the IRS guidelines, which may change annually.

Can employees of Public Service Enterprise Group Incorporated take loans against their 401(k) savings?

Yes, employees of Public Service Enterprise Group Incorporated may have the option to take loans against their 401(k) savings, subject to specific terms and conditions.

What investment options are available in the 401(k) plan at Public Service Enterprise Group Incorporated?

Public Service Enterprise Group Incorporated offers a variety of investment options in its 401(k) plan, including mutual funds, stocks, and bonds.

How often can employees change their contribution amounts to the 401(k) plan at Public Service Enterprise Group Incorporated?

Employees of Public Service Enterprise Group Incorporated can change their contribution amounts to the 401(k) plan at designated times throughout the year, typically during open enrollment periods.

Is there a vesting schedule for employer contributions in the 401(k) plan at Public Service Enterprise Group Incorporated?

Yes, there is a vesting schedule for employer contributions in the 401(k) plan at Public Service Enterprise Group Incorporated, which determines when employees fully own the employer's contributions.

What happens to the 401(k) savings if an employee leaves Public Service Enterprise Group Incorporated?

If an employee leaves Public Service Enterprise Group Incorporated, they can roll over their 401(k) savings to another retirement account, cash out, or leave the funds in the plan if eligible.

Are there any fees associated with the 401(k) plan at Public Service Enterprise Group Incorporated?

Yes, there may be fees associated with the 401(k) plan at Public Service Enterprise Group Incorporated, which can include administrative fees and investment management fees.