Why choose a no deposit no credit check electricity company?

by admin on May 6, 2011

Choosing a prepaid electricity company is not an ideal situation as it means you were likely denied by several electric companies already and/or asked for large deposits.

Once one electricity supplier denies you based on your credit score usually all of them will or will accept you provided you pay a huge deposit amount you may not see again for a year.

A prepaid electricity company comes in real handy in these situations. In the past the only choice was to go with a prepay electric company that estimated your electric usage from the previous tenant or size of your home.

We now have prepaid electric companies that use more advanced technology because of the recent roll out of smart electric meters in many deregulated electric utility areas.

The real time data from these meters are immediately deducted from a prepay electricity card. By doing the charging in this way you don’t end up paying way more or way less than you are using.

Rather than the prepay electric provider truing up charges later they never have to do this as a smart meter doesn’t lie and allows for accurate deductions in payment to be handled at the meter.

If you do not have a smart meter your only prepaid electricity choice is to go with an electric company that estimates electric usage.

In this situation you may pay more than what you use but you might end up paying less. To get started with a prepaid electricity company that does not ask for a deposit you will have to come up with about $175 on average.

The good thing is that the $175 is applied to your first months electric bill and is nothing like a deposit you will not see again for a year.

You continue to prepay for your electricity each month in this way and your electric company will let you know what to send them.

If this sounds interesting to you please begin by using our zip code tool at the top. Once you click on “Compare” you will see a tab called “No Deposit”

Click on that tab to see if you qualify for no deposit prepaid electric companies that use smart meter technology.

The system will be able to determine if your address uses a smart meter. If it does not you may not qualify for the prepaid electric companies listed in the chart but you still have one other option.

Try the prepaid electric company below that estimates your usage without the need of a smart meter. If you have questions about any of these options please call us at 1-800-971-4020.

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