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

Healthcare Provider Update: Watsco offers a comprehensive benefits program that includes medical, dental, vision, life, and disability insurance. Employees receive cash incentives for completing wellness assessments and have access to Teladoc for 24/7 virtual care. The company also provides a 401(k) plan with matching contributions and an Employee Stock Purchase Plan 7. Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more

'Strong credit habits can give Watsco 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.

'Watsco 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 Watsco, 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 Watsco 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 Watsco 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 is the primary purpose of Watsco's 401(k) plan?

The primary purpose of Watsco's 401(k) plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.

How can Watsco employees enroll in the 401(k) plan?

Watsco employees can enroll in the 401(k) plan by completing the enrollment process through the company's HR portal or by contacting the HR department for assistance.

Does Watsco offer a company match for 401(k) contributions?

Yes, Watsco offers a company match for 401(k) contributions, which helps employees maximize their retirement savings.

What is the maximum contribution limit for Watsco's 401(k) plan?

The maximum contribution limit for Watsco's 401(k) plan is determined by the IRS and may change annually; employees should check the latest guidelines for the current limit.

Can Watsco employees change their contribution percentage at any time?

Yes, Watsco employees can change their contribution percentage at any time, typically through the HR portal or by submitting a request to HR.

What investment options are available in Watsco's 401(k) plan?

Watsco's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to diversify their portfolios.

Is there a vesting schedule for Watsco's 401(k) company match?

Yes, Watsco has a vesting schedule for the company match, which means employees must work for a certain period before they fully own the matched contributions.

How can Watsco employees access their 401(k) account information?

Watsco employees can access their 401(k) account information through the online portal provided by the plan administrator.

What happens to a Watsco employee's 401(k) if they leave the company?

If a Watsco employee leaves the company, they have several options for their 401(k), including rolling it over to another retirement account, cashing it out, or leaving it with Watsco.

Are there any fees associated with Watsco's 401(k) plan?

Yes, there may be fees associated with Watsco's 401(k) plan, which can include administrative fees and investment management fees. Employees should review the plan documents for details.