Compare No Deposit Electricity Rates in Texas

No Deposit, No Credit Check Electricity in Texas

  • Written By: Shannon Bedrich
  • Edited By: Rebecca Bridges

  • Looking for electricity companies with no deposit in Texas? No deposit electricity is a great way o start your light service. Because an electricity deposit in Texas can cost you $300 just to get lights turned on. And that’s money you won’t get back for at least a year.

    If you have a credit score over 600, you can get no deposit electricity from any provider. But if not, or if you want service without a credit check, prepaid electricity with no deposit is the way to go.

    Electricity Companies with No Deposit

    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 prepaid 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. And that’s different than most prepaid electricity plans. Most providers only offer month to month electricity with no deposit. That’s a variable rate where they can change your rate monthly (usually up).

    You’ll pay a small amount of money up front to start your service, around $40-$70.

    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.

    Here are no deposit electricity rates in Oncor (Dallas area). You can choose no deposit electricity in Houston, Dallas or anywhere in deregulated Texas markets. Enter your zip code at the top of this page to see plans in your area.

    No Deposit Electricity Rates

    Plan Name Term Rate/kWh
    Payless Power 12 Month – Prepaid 12 17.2 ¢
    Payless Power 6 Month – Prepaid 6 17.4 ¢

    Sign Up for Payless Power by Phone!

    What are the Pros/Cons of Prepaid No Deposit Electricity?

    Benefits of prepaid fixed rate electricity include:

    • You’re instantly approved.
    • No deposit same day electricity when you sign up by 4pm
    • No credit check and no ID needed
    • Fixed rate plan with price protection

    Downsides of prepaid fixed rate electricity include:

    • Higher electricity rates vs. traditional electricity plans
    • Risk of automatic shut-off if you don’t maintain a positive balance.

    >Find out more information on how prepaid electricity works.

    Is No Deposit Power for Me?

    People have different reasons for wanting no deposit electricity. Common reasons include:

    • No credit report. If you pay in cash, you may not have established credit.
    • Cash crunch. Not many people have an extra $300-$400 to pay a deposit.
    • Identification. No driver’s license or social security number.
    • Low credit. If your credit score is below 600, no deposit power is an option.

    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. You may be surprised!

    FAQs About No Deposit Electricity in Texas

    What’s the minimum credit score for electricity with no deposit 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 your best option.

    How do I get a deposit waived for Texas electricity?

    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.

    Is there low income assistance for electricity deposit?

    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.

    Do electricity companies waive deposit for active military?

    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. Enroll online. If there’s a deposit due, just contact Chariot and provide information on your service. Chariot will waive your deposit!

    Shop No Deposit, No Credit Check Electricity Plans

    About Shannon Bedrich

    Shannon Bedrich, co-founded ElectricityPlans in 2016 after shopping for electricity rates using a confusing state-sponsored website. A CPA and our CFO, Shannon is the one that deciphers the fine print on each electricity plan. Outside of work, Shannon enjoys spending time with family, rooting for the Aggies, and exploring all that Houston has to offer.

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