No Deposit Electricity | No Credit Check | New Customer Bonus

Written by Jason Thomas | Last updated October 4, 2023

Jason Thomas, a proud Texan born and raised, is Co-Founder and Partner at Vault Energy Solutions, LLC. His expertise in the Texas energy industry has been recognized by the Public Utility Commission of Texas, and he has been quoted in the Houston Chronicle on the topic of surging electricity prices in the state.

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Electricity deposits are the biggest issue I’ve seen in my 14 plus years of helping Texas electricity customers.

During that period, my company and I have helped over 100,000 Texans get their electricity turned on.

By far the most common question I’ve been asked is, “How can I get electricity without a deposit?”

On this page, I’ve compiled the information to help you answer that question and get your lights turned on.

Key Takeaways

Texas residents with low credit scores can still get no deposit electricity.
There are three options for getting no deposit electricity: traditional electricity plans with good credit, requesting a deposit waiver, and prepaid electricity plans.
Prepaid electricity plans work similarly to a debit card with no credit checks or deposits required.
Ensure you choose a reputable provider and compare rates across different cities in Texas, whether for residential or commercial purposes.

No Deposit (Prepaid) Electricity Plans

I have seen electric companies ask for $600 or more for a deposit.

The deposit amount is dependent on your credit score and the anticipated electricity usage for your address. Most people who have been asked for a large deposit will find that a prepaid electricity plan is the fastest and most cost-effective way to get their power on.

While this option does require some money upfront, it will be a fraction of the cost of a deposit. Also, the money will go immediately to pay for your electricity. A deposit, on the other hand, will remain with the electricity provider until the end of your contract.

Three Options for Getting No Deposit Electricity

Option 1: Shop Around

I always recommend, as a first step, that you simply shop around.

Each electric company sets their own requirements for when to ask for a deposit and how much they ask for.

Some companies have lower credit thresholds than others.

Also, the deposit amount they ask for is totally up to them. It costs you nothing but time to check with multiple providers to see what they want for a deposit. Keep in mind, however, that the electricity rate you pay is important too.

It may be worth paying a little higher deposit amount if it comes along with a much cheaper electricity rate.

Each electric company’s specific credit thresholds are closely guarded secrets. However, we have seen customers have success with TXU when they were asked for a large deposit elsewhere. You can find TXU plans listed right here on this site by entering your zip code above.

Option 2: Deposit Waiver

You may be able to qualify for a deposit waiver under certain circumstances. These are exceptions specifically spelled out by the Texas PUC. If you feel like you meet any of the criteria below, contact the electric company and ask for a waiver on your deposit. You may be required to provide proof.

You are 65 years or older and not behind in payment with another electric provider
You are medically indigent
You are a victim of family violence
You have recent history (past 24 months) of on-time payment with another electric provider

Option 3: Choose a Prepaid Electricity Plan

As I mentioned above, prepaid electricity plans are a great option for getting no credit check and no deposit electricity. These are “pay as you go” electricity plans. They work just like a debit card or a prepaid cell phone. There is no credit check and no deposit. You simply create an account and add money to it. You then use the money in that account to pay for your electricity in real-time, instead of paying at the end of the month.

To hear your prepaid options including New Customer Bonuses, call 855-564-1181

It’s that easy! As you can see, it only takes a few minutes to get electricity without paying a deposit.

By following the steps above. You can enjoy no deposit electricity.

Who We Recommend for No Deposit Electricity: Payless Power

Vault Score: 4.3/5.0

Complaint Level: Well Above Average

Why We Picked It
Payless Power shines with a Vault Score of 4.3. Their high terms of service score and notable community impact make them a reputable choice. With Payless Power, you are instantly approved for electricity and can get your electricity turned on the same day. They also have Spanish-speaking agents available to help those whose first language is not English.

Pros & Cons
Pros: High terms of service score and good community impact.
Cons: Lower score in complaint score.

Overview
Payless Power is a Texas-based energy company founded in 2005 by Brandon, Byron, and Brian Young, with Brandon Young serving as the CEO since 2009. The company is a subsidiary of Young Energy, LLC and operates across more than 400 communities in Texas, with headquarters in Fort Worth. They specialize in providing affordable, reliable electricity to underserved customers, particularly those with little or no credit history. They offer flexible prepaid and traditional electric plans, with transparent pricing and a focus on excellent customer service.

Payless Power Review

Same-Day Electricity Providers

Some providers offer same-day electricity plans with no deposit required and no long-term contract.

Again, these are prepaid electricity companies.

They focus on hassle-free electricity options, making it easy for new customers to start service.

These companies often allow customers to track their electricity usage through smart meters and receive notifications to maintain their account balance.

Remember to compare Texas electricity rates and plans from different providers, and consider deposit requirements, contract length, and customer service quality before deciding. By doing so, you’ll be more likely to find the perfect no deposit electricity plan for your needs.

Additionally, it’s crucial to check electricity rates for cities like Dallas and Houston, as rates can vary significantly based on location.

Electricity Rates by City

City	Electricity Rate	No Deposit Electricity Promotion
Abilene	18.0¢	Click to Save
Arlington	17.8¢	Click to Save
Corpus Christi	18.3¢	Click to Save
Dallas	17.8¢	Click to Save
Fort Worth	17.8¢	Click to Save
Houston	16.8¢	Click to Save
Killeen	17.8¢	Click to Save
Laredo	18.3¢	Click to Save
McAllen	18.3¢	Click to Save
Temple	17.8¢	Click to Save
Tyler	17.8¢	Click to Save
Irving	17.8¢	Click to Save
Sugerland	16.8¢	Click to Save
Rio Grand Valley	17.9¢	Click to Save
Beaumont	16.8¢	Click to Save

Residential and Commercial No Deposit Electricity

If you’d like help finding affordable no deposit electricity, Vault Electricity can help. Just call us at 855-564-1181, and we’ll connect you with cheap electricity providers in Texas that offer service plans tailored to your specific needs. We aim to make finding no deposit residential or commercial electricity as easy and hassle-free as possible.

Financial Assistance

The financial assistance available to you if you are unable to pay your electric bill in Texas includes the following options:

Payment Plans and Installment Plans: Contact your electricity provider to discuss and negotiate a payment extension or installment plan that works for your budget. Make sure to get the agreement in writing.
Energy Assistance Programs:
- Low-Income Home Energy Assistance Program (LIHEAP): A federally funded program that assists with energy crises, weatherization, and minor energy-related home repairs. This is part of the broader low-income electricity options in Texas available to residents.
- Comprehensive Energy Assistance Program: Offers help with bills, repairs to broken A/C units, replacements, and more.
Non-Profit and Charity Programs:
- Texas Utility Help: Assists qualified Texas homeowners and low-income renters with expenses like electricity, gas, propane, water, and wastewater.
- Catholic Charities Dallas and Fort Worth: Offers financial assistance to help with energy bills.
- Network of Community Ministries: Provides assistance with energy bills.
- TXU Energy Aid: Offers electricity bill help to Texas families in need.
Weatherization Programs: These programs can help make homes more energy-efficient, thereby reducing energy bills.
Grants or Loans for Home Repairs or Upgrades: Some programs might offer financial support for home repairs or upgrades that improve energy efficiency.
Tips for Keeping Your Bill Low: Taking measures such as keeping windows closed when heating or cooling, turning off lights when not in use, unplugging unused appliances, and keeping tabs on energy-consuming appliances can also assist in reducing your energy bill.

By exploring these options and working closely with your energy provider and local assistance organizations, you can find financial help tailored to your specific situation and needs.

Benefits of No Deposit Electricity

Immediate Activation: With no deposit electricity, you don’t have to wait for lengthy credit checks or approval processes. Your electricity can be activated almost immediately after your account is funded.
Financial Flexibility: No upfront deposit means you can allocate your funds to other immediate needs.
No Credit Discrimination: Traditional electricity plans often require credit checks, which can be discriminatory towards those with low or no credit history. No deposit plans level the playing field, ensuring everyone has access to electricity regardless of their credit status.
Transparent Pricing: Many no deposit electricity plans offer transparent pricing with no hidden fees. You pay for what you use, making it easier to manage and predict your monthly expenses.
Empowerment and Control: Prepaid no deposit plans allow you to monitor your electricity usage in real-time. This not only helps in budgeting but also promotes energy saving habits.
No Long Term Commitments: Without binding contracts, you have the freedom to switch providers or plans as your needs change. This flexibility ensures you’re always getting the best deal available.

Potential Drawbacks of No Deposit Electricity

Higher Rates: Some no deposit electricity plans might have slightly higher per-kilowatt-hour rates compared to traditional postpaid plans, which could lead to higher monthly bills for heavy electricity users.
Frequent Top-Ups: For prepaid no deposit plans, you might need to frequently top-up your account, especially if your usage is high. This can be inconvenient for some users.
Service Interruptions: If you forget to recharge your prepaid account, there’s a risk of service interruption once your balance runs out. This could leave you without electricity until you top-up.
Limited Plan Options: There might be fewer plan options available for no deposit electricity compared to traditional plans.

Frequently Asked Questions

When do you need a deposit for electricity?

Most Texas electric companies require a deposit if your credit score doesn’t meet certain thresholds or you have an unestablished credit record. If you have good credit, you can easily get no deposit electricity. If you don’t, you will likely have to pay a deposit unless you select a prepaid electricity plan.

Do all energy companies do credit checks?

Not all energy companies perform credit checks, but most do. The credit check determines if a deposit will be required to turn on your power. Typically, companies specializing in prepaid electricity plans don’t do credit checks.

Are there any electric companies without a deposit?

All Texas electric companies offer electricity without a deposit if you have good credit. But if your credit isn’t perfect, you may be asked to pay a deposit unless you find a good prepaid electricity plan.

How much is an electricity deposit?

For an apartment, your electricity deposit can be as low as $50. The deposit can be $500 or sometimes more for a large house. Each light company sets its deposit requirements. Even with bad credit, you can get electricity without a deposit in Texas.

Do you get your electricity deposit back?

Assuming you pay your bill, you can expect to get your electricity deposit returned to you.

Does TXU require a deposit?

If you have good credit, TXU Energy will not require a deposit to start your electric service. However, most electric companies, including TXU, will require a deposit if you have blemishes on your credit or don’t have an established credit history.

How much is an electricity deposit for an apartment?

The electricity deposit for an apartment in Texas will typically be around $150 unless you have good credit. You can get electricity with no deposit in Houston or anywhere else in Texas, even if you have bad credit.

I paid a deposit over a year ago, but my credit has improved since then. How can I get my deposit back?

The electric company will keep holding your deposit until you switch to a different electricity provider and pay your final bill in full.

With that in mind, you can sign up with a new provider to see if you meet their credit requirements. If you do pass credit, then make the switch to the new provider.

Once you pay your final bill with the old electric company, they will send you a check for your entire deposit amount. Ensure you are no longer under contract with your current provider before switching to avoid early termination fees.

Why did the electric company ask for a deposit?

It all comes down to credit scoring and risk management for the electricity companies.

When they sell electricity to consumers, they are buying electricity off the grid and taking the chance that the customer doesn’t pay them afterwards. If they don’t get paid, they are out the cost of the electricity. This is why electric companies typically run credit checks as part of getting your power turned on.

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