How to get Home Electricity with Bad Credit?
Pay the deposit
Pay for your electricity in advance
Now, if you want to avoid paying that deposit, you can buy the electricity that your home will use. That’s right if you prepay your energy, the electricity company will not hold any money as a deposit and will connect your energy service.
Buying your electricity in advance is similar to many of the things we use in our life. Buying gasoline for your car or buying your bus ticket or buying your groceries. We usually pay for our stuff and then we use it.
Home electricity is not considered a basic necessity; however, I would like to see anyone living without it. We depend so much on electricity, just think of all the things that are powered by it. Computers, cell phones, washers, dryers, microwaves, water heaters, air conditioners, etc. Not to mention our entertainment devices like TVs, the internet, game consoles, and more. Now, not everyone has good credit, so how to get Home Electricity with Bad Credit?
How do electricity companies get their customers?
Most energy companies want customers with good credit. Now, let's see how an electricity customer can qualify a customer.
First, a customer must have a way to prove his/her credit history. Someone’s credit is based on many factors, basically, how we pay the money we borrow from banks, and loans, and how we manage our credit cards. Then, it takes time to build enough credit to be considered GOOD CREDIT. This means that, over time, we accumulate points to be “CREDIBLE” that we pay our debts.
Most importantly, to have any kind of credit, we must have a
Social security number or an
ITIN (Individual Taxpayer Identification Number)
This is where all credit transactions are reported. Without any of these two, it’s not possible to demonstrate someone’s credit history. This means that the person has zero credit. Also, having any of these two numbers does not mean that the person’s credit is good, fair, or bad. We need to create it and work for it.
669 credit score is considered fair or bad credit
High deposits to get electricity service if your credit score is less than perfect
I understand that most electricity customers would like to have a monthly statement. However, I would like to tell you that for many this is not the best idea. If you have less than good credit and you would like to have an energy company that sends you a monthly statement for your electricity service, they will ask you for a security deposit.
This security deposit may range from $200 to $500
As mentioned above, you can pay for that deposit. You may think that the money will be returned to you at the end of the contract. To the end of the contract, these energy companies will try to keep that deposit any way they can. They will find any excuse not to return it.
In most cases, the deposit will need to be paid in full before the electricity company sends your energy connection. Very few times the electricity company will connect the energy service with half of the cost of the deposit.
Advantages of Prepaid Electricity
No Credit Checks
No Deposit
Same-Day Electricity Connection
Daily Energy Usage Notifications
To Conclude
If you would like a fast and hassle-free electricity service, go with a prepaid electricity company. We work with Payless Power. See what we are all about, you can call us or get it yourself without talking to a sales representative. They will ask you to buy the energy you will use in the next few days and your electricity service will be connected within minutes.
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