FICO Affects Rate
If a company is stupid, they may only look at your FICO score, but if they look at your credit report, no debt should be a plus.
QUESTION: Christy is almost debt free and wonders how her credit score, which will drop, will affect her ability to get insurance or good rates on cell phones and things like that. Dave says it depends on if they really look at her credit report, or just the FICO score.
ANSWER: The only way to get a FICO score is to go into debt and stay in debt. If they look at your credit report and look for bad accounts or something. If they see a clean sheet when they look at your report, that should be a plus; something in your favor.