Choosing an Affordable Electricity Provider in Tyler Texas

by Donny on February 23, 2010

There is really no amazing secret about signing up with an affordable electricity company in Tyler that also has lenient credit requirements. The truth about finding a good electric company that will offer a cheap rate and not ask for a deposit lies within the type of energy product you sign up for. Margins are actually fairly thin in the Texas retail electricity market. Many people in a certain credit score range default and do not pay one of their electricity bills. It is important that we explain two types of electric providers in Tyler in deciding about what electric rate you want to go with. There is the prepaid or pay as you go electricity company and the traditional 30 day plus 15 days to pay electricity supplier.

Prepaid Electricity Companies in Tyler

A pay as you go or prepaid electricity company in Tyler will want to be prepaid for energy service before your lights get turned on. The trade off when going with a prepaid electric company is price. You will likely pay double the price for your electricity service with a prepaid electric company but will avoid having to pay a deposit.

This begs the question, should you stay a couple more months over at mom and dad’s before moving in to your new apartment? By choosing a traditional Tyler Texas electricity company over a pay as you go company you may have to pay a deposit if your credit is bad but you will also be saving money in the long run. A deposit at its worst may run you $450. You get this back at the end of your contract or sometimes 6 months into it. A prepaid electric company may hit you up for $350 – $450 a month in electricity usage charges. A traditional electric company may only be $150 – $250 for the same electric usage.

Considering you will be out the same amount of money with a prepaid electricity company as you would be had you given that money to a traditional electric company it makes sense to go with a cheap traditional energy supplier.

So the choice ends up being a price compromise. Let’s learn more about not necessarily going with a prepaid electric company and avoiding a high deposit amount by understanding traditional energy providers in Tyler.

Traditional Energy Companies in Tyler Asking For Deposits

Mind you, not all people will be asked for a deposit by a Tyler electricity company they are choosing when relocating to the Tyler Texas area. Some people have good or excellent credit and can take their pick among some of the cheapest electricity companies out there. Other people have very bad credit or no credit at all and will be asked for a deposit by every electric company they call. The question is often asked, Can I find out ahead of time what the credit score requirement will be or what the deposit will be with a Tyler electricity company?

Unfortunately you cannot find out ahead of time if a provider will want a deposit or what credit score criteria they use. The deposit and credit score criteria is a closely guarded secret. They want as many attempts at signing up with their electric service without scaring people away with the dreaded deposit request. When you ask if they will need a deposit the answer is always yes if your credit is bad. So what is the way around a deposit while yet still getting a cheap electric rate with a traditional energy company in Tyler?

The answer is to try several cheap energy companies until you get an electricity company asking you for a reasonable deposit you can afford. Unfortunately you will need to go down through a list of cheap energy suppliers until you can make a compromise between price and deposit amount. I recommend signing up online with several and each time you sign up the electricity company will let you know online if a deposit is required. Occasionally after the sign up process you may be asked to call to verify your information and what the final deposit amount will be.

Government Assistance To Help With Electricity Deposit Amount

Once you have decided on a Tyler Texas electricity company you may still wish to have your deposit waived or something to bring down the cost. If you are currently receiving government aid like food stamps or medicaid there are programs for paying off your deposit via government assistance. The Department of Health and Human Services in Texas handles electricity deposit government assistance. If you would like to check out your options further I recommend giving them a call at: 1-877-541-7905

Prepare for typical federal government bureaucratic nonsense and unhelpful answers. If you pry and prod and interrogate the government employee long enough they should be able to route you to someone who can help you. Sometimes the process is easy and sometimes it can be hard. It really depends on your luck of getting connected with someone at DHHS that cares.

I personally recommend saving up for a few months to pay your electricity deposit considering you will not have to deal with the government. You will get the money back in about 6 months and overall will be a much easier experience.

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