This Labor Day, CreditFYI Offers 5 Tips for American Workers to Preserve Their Credit

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Knowing what to avoid is as important as knowing what to do.

As America celebrates the contributions of its working men and women this Labor Day weekend, it's more important than ever that those workers maintain the credit histories they've labored so hard to achieve.

CreditFYI, an educational consumer website on consumer credit, personal finance and fraud, reminds America's workforce that maintaining a good credit history is a year-round effort. "Because our credit scores -- and the credit histories upon which they're built -- are constantly changing, preserving good credit should be considered an ongoing goal," said Rob Wyse, a spokesperson for CreditFYI.

To help working people protect their credit, CreditFYI highlights five things not to do:

1.    Don't make your bill payments late or let slip a bill payment just once, for over 90 days. If you make late payments a regular habit, or worse, make even a single late payment of 90 days or more, you're headed for trouble.

2.    Don't declare personal bankruptcy. Personal bankruptcy is a clear admission by you that you can't manage your debts.

3.    Don't allow a bank to foreclose on your home. Foreclosures can lower your credit score by at least 100 or 150 points.

4.    Don't max out your credit cards. If you often "max out," or come close to your credit limit on your credit cards, this will lower your credit score.

5.    Don't lose your vehicle to repossession. As with bankruptcy, foreclosure, or late bill payments, a car repo indicates you have trouble managing your finances.

"A lot of things can damage a person's credit history quickly, including large medical debts or sudden job loss," CreditFYI's Rob Wyse points out. "People can't always control those types of events, but they can control certain areas of their credit histories, and these tips can help them avoid making a costly misstep."

For more tips on what not to do to maintain a strong credit history, visit

About informs and educates consumers on a wide range of credit and debt issues, personal finance topics and identity fraud concerns. Designed to empower consumers to take charge of their household finances, CreditFYI distills the often-complex financial issues that affect consumers' daily lives into informative, easily-understood content that helps consumers make informed decisions and improve their money management skills. For more information, please visit


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Rob Wyse

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