What is a no deposit electricity plan?
Many energy providers set a credit threshold for their plans. If a customer’s credit score does not meet this threshold, they may be charged a deposit before the provider will begin service. But there are also no deposit electricity plans, which let you skip paying a deposit.
Many of the standard plans on Choose Energy’s marketplace are no deposit options. Fewer than 10 percent of our customers wind up paying a deposit before beginning service.
Choose Energy will run a soft credit check – the kind that doesn’t affect your credit score – to determine whether you meet the providers’ credit thresholds. From there, you can filter for affordable no deposit energy plans.