Looking for electricity companies with no deposit in Texas? No deposit electricity is a great way to start your light service. Because an electricity deposit in Texas can cost you $300 just to get lights turned on. And not many people have that much extra cash lying around!
No deposit electricity plans, also known as prepaid electricity plans, are a type of energy plan where you pay for your electricity in advance, rather than paying a deposit or having to meet credit requirements.
You make an initial payment to establish a balance in your account, and then you add funds as needed to cover your electricity usage.
No Deposit Lights – Learn More
- Best No Deposit Light Company
- What Are No Deposit Electricity Companies?
- How Do No-Deposit Prepaid Lights Plans Work?
- Benefits of No Deposit Lights
- Drawbacks of No Deposit Lights
- Same Day Electricity with No Deposit
- How to Get No Deposit Power (That’s Not Prepaid)
- FAQs About No Deposit Electricity in Texas
Best No Deposit Light Company
No deposit electricity companies in Texas include Payless Power, Acacia Energy and Amigo Energy but for no deposit electricity and lights on the same day with no credit check, we recommend Payless Power.
That’s because they are one of the few companies that offer a no-deposit fixed rate plan.
Since it’s a fixed rate, you’ll lock in the same price per kilowatt hour for the term of your contract. That lets you budget and control your electricity bill. Most prepaid is month to month electricity with no deposit. Don’t get stuck with a month to month variable rate where they can change your rate (usually up!)
You’ll pay a small amount of money up front to start your service, around $40-$75.
You’ll get alerts on your electricity usage so you always know where you stand. Then you add funds to your prepaid account balance as needed. Payless Power will use daily information from your Texas smart meter to track your usage and keep you informed.
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No Deposit Electricity Rates
| Plan Name | Term | Rate/kWh |
|---|---|---|
| Payless Power 12 Month – Prepaid | 12 | 18.7 ¢ |
| Payless Power 6 Month – Prepaid | 6 | 18.7 ¢ |
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What Are No Deposit Electricity Companies?
Many Texas consumers find themselves in a pickle. They need the lights turned on but they have a tight budget or have a lower credit score. No-deposit plans help you get around these hurdles.
No-deposit electricity describes two types of energy plans you’ll find in Texas:
- No-deposit prepaid plans: Prepaid electricity means you pay in advance for your power. Instead of a deposit held in reserve, everything you pay goes toward electricity you can use. As you use power, you get alerts letting you know your balance and number of days remaining. You can add money as needed. Or set up automatic payments so your balance never gets too low.
- No-deposit plans for high credit scores: You’ve kept your finances in order, and these plans reward your diligence. If your credit score is over 600 and you’re willing to undergo a credit check, some providers start your service without a deposit.
Bottom line, all companies offer no-deposit electricity if you have a good credit score or a good payment history. But the quickest and easiest way to get no-deposit electricity is with a prepaid plan.
How Do No-Deposit Prepaid Lights Plans Work?
Think of your prepaid electricity account like you would a prepaid cell phone or prepaid debit card. You’ll need to monitor your spending and usage to keep the lights on.
But, prepaid lights plans are some of the most sophisticated plans in Texas. That’s because they rely on technology to keep you informed.
- You’ll start your account with a minimum deposit, typically under $75.
- As you use power, you’ll get daily alerts letting you know how much you’ve used and your remaining balance.
- You’ll have online tools to monitor your energy usage, plus you’ll have projections of your upcoming power usage based on your usage pattern and weather forecasts.
- Simply add funds to your account as you go, to maintain your balance.
Benefits of No Deposit Lights
No deposit lights are often referred to as a second chance electric company. Benefits of no deposit prepaid electricity include:
- Instant approval. No credit check means instant approval and same-day lights when you enroll by 5pm Monday through Saturday.
- No upfront deposit. Keep your money in your pocket, with no deposit required. You’ll pay a small amount upfront to start your service, then pay as you go.
- No credit check. Everyone needs electricity. And your credit score shouldn’t keep you from getting this vital service for your home.
- Convenience. You’ll get alerts to easily manage your electricity usage and budget, topping off your account as needed. That let’s you plan ahead instead of getting hit with a big bill at the end of the month.
- Fixed rate price protection. The best no deposit light companies give you a fixed rate plan so you can budget and plan for your electricity bill.
Drawbacks of No Deposit Lights
There are some drawbacks to prepaid electricity plans, especially if you aren’t used to managing a prepaid service. Drawbacks of no deposit lights include:
- Higher electricity rates. Your electricity rate is typically higher with a no deposit lights company vs. a traditional provider. Higher electricity rates vs. traditional electricity plans
- Higher risk of disconnection. With traditional electricity bills, you’ll risk disconnection if you are two weeks late paying your bill. With prepaid lights, you’re at risk of automatic shut-off if you don’t maintain a positive balance.
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Same Day Electricity with No Deposit
If your credit score is over 600 you can get same day electricity from any provider with no deposit.
But if your credit score is below that, you can get same day electricity with no deposit by enrolling with Payless Power.
Just sign up for service by 5pm Monday through Saturday to get same day service. You can call them at 866-934-3451 to enroll.
How to Get No Deposit Power (That’s Not Prepaid)
The quickest way to get no deposit power is to sign up for a prepaid electricity plan. However, there are other ways to avoid a deposit. Here are ways to avoid a deposit or get a waiver:
- You have a good payment history from your current electricity company, showing not more than 1 late payment in 12 months.
- You are over 65 and can provide a copy of your identification plus proof of good payment history.
- You have a credit score over 600. This is the threshold that most electricity companies use.
- Active military families can get a deposit waiver from Chariot Energy, simply by providing proof of their service.
Our recommendation? Shop for traditional post-paid electricity plans first to see if you can qualify without a deposit.
Many providers use alternative credit scores that take into account cash payments, rent payments and utility payments, instead of credit card debt and loans. You may be surprised!
FAQs About No Deposit Electricity in Texas
Most Texas electricity companies require a credit score of 600 for no deposit power. If your credit score is above 600 you can likely get no deposit electricity from any provider. If your credit score is lower than that or you don’t have a driver’s license or social security number, prepaid electricity is the best way to get same day electricity with no deposit in Texas.
Every electricity company in Texas must offer no deposit electricity if you meet certain criteria. You can get a deposit waived if you
(1) Meet minimum credit threshold, usually a 600+ credit score
(2) Can provide a letter of credit from your current electricity company showing not more than 1 late payment in 12 months
(3) Are over 65 and can provide a copy of your ID and your most recent electricity bill with no past due balance
(4) Are a victim of family violence and can provide a certified letter for victim of family violence.
If you are low income you may qualify for a split deposit. A split deposit lets you pay your deposit in two equal installments. You’ll pay the first half of the deposit up front. Then you’ll pay the second half of the deposit on your first bill. To qualify for a split deposit, you’ll need to send your electric company proof of eligibility, like a state-issued statement of benefits for Supplemental Security Income (SSI), Medicaid, Low-Income Medicare, Texas Aid to Needy Families or SNAP food benefits. As an alternative, you may want to consider a prepaid electricity no deposit electricity plan.
Yes, some electricity companies waive deposits for active military in Texas. Houston-based Chariot Energy understands that military families move around a lot, which may affect their credit. If there’s a deposit due, just contact Chariot and provide information on your service. Chariot will waive your deposit!
There are several companies that offer month to month electricity with no deposit in Texas. However, these come with a high risk, especially if you are on a fixed income and need to budget. These no deposit month to month plans can (and will) change your rate every month, usually up. A fixed rate no deposit plan is the best choice.
