Phil, "some" debt actually ~raises~ your score. I tested this a few years back when I got a secured loan via NFCU. Zero cc or any other debt. Used savings as collateral. Net interest on it was 0.5%. Score jumped 20-25 points. Paid it off in six months to show a history. It was goes up a bit if I have a balance on a card due to a major purchase (but always paid in full in the next cycle). They WANT you to have debt!
You have an "insurance score" which affects your car/home/etc insurance. Credit score is a major part of it.
Yeah, there are several different types of "scores" out there that can affect any aspect of your life.
Well fuck it! Who needs insurance anyway!???! Also, a story just popped at the top of zerohedge, saying the housing bubble just burst
Mine was 844 a few months ago when we renewed our mortgage. Our bank lady was surprised and impressed and I didn't really give a F. I said "that's because I put a couple of your guys kids through college because I spent more money than I made in my 20's and it took me into my 30's to pay it all back". She didn't know what to make of me lol. Thanks for the meaningless high score. Just put more dollars in my account please. Wanna see these shiny racing plaques you funded? lol