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 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.
Recommended Provider – Prepaid Electricity in Texas
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 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. Most prepaid is 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-$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.
No Deposit Electricity Rates in Dallas
| Plan Name | Term | Rate/kWh |
|---|---|---|
| Payless Power 6 Month – Prepaid | 6 | 17.7 ¢ |
| Payless Power 12 Month – Prepaid | 12 | 18.2 ¢ |
No Deposit Electricity Rates in Houston
| Plan Name | Term | Rate/kWh |
|---|---|---|
| Payless Power 6 Month – Prepaid | 6 | 17.8 ¢ |
| Payless Power 12 Month – Prepaid | 12 | 18.4 ¢ |
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What Are No Deposit Electricity Companies?
Many Texas consumers find themselves in a conundrum. They need the lights turned on but they manage 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.
Both options can give you same day electricity.
Beyond cutting out extra fees, no-deposit prepaid electricity plans:
- Let you add funds to your account as needed to keep your plan going.
- Don’t require a credit check.
- Show you how much you have in your account relative to your monthly energy consumption.
- Notify you when your funds are low, so you can make a payment and keep the lights on.
You might qualify for a no deposit post-paid (traditional) plan if:
- You have a high credit score.
- You’re renewing your contract with the same provider.
- You have an excellent payment history with not more than one late payment.
What are the Pros/Cons of No Deposit Prepaid Lights?
Benefits of no deposit prepaid 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
- Second chance electric company
Downsides of no deposit prepaid electricity are:
- Higher electricity rates vs. traditional electricity plans
- Risk of automatic shut-off if you don’t maintain a positive balance.
Shop Electricity Rates with No Deposit
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 6pm Monday through Saturday to get same day service. You can call them at 866-934-3451 to enroll.
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
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.
