I applied for electric service at at new home - presently have service in my name and have had this for the past 25 years. Suddenly I have a company who is using a utility credit score who is saying I have to pay the max $330 deposit to get my electric turned on. I checked my reg. credit score and it's a 780. I always pay my utilities and have never missed a payment.
Anyone able to shed more light on this? My present utility co. is a Coop. Maybe they aren't reporting to this mysterious Utility Credit Company???
2007-03-04 02:08:51 · 2 answers · asked by S. W 4 in Business & Finance ➔ Credit
I'm trying to figure out what this "Utility Credit Score" is, and why it would rate me differently than Experian, TransUnion, or Equifax. If I have a good utility and regular credit history, why are they saying my Utility Credit Score shows me as a risk and I need to pay the highest deposit possible?
2007-03-04 02:20:12 · update #1
This apparently is also referred to as a TEC score and is put out by Equifax.
2007-03-04 02:22:39 · update #2
That's a new one. A utiltiy security deposit? never heard of such a thing ever. You should get all the details on this in writing before you hand anyone a check before your light are even turned on. I agree with the above, might possibly be a scam.
2007-03-04 02:34:46 · answer #1 · answered by douglas l 5 · 0⤊ 0⤋
Never heard of a utility credit score. If the deposit is being required from the utility company that will be providing you service, and it's not the same one you've been serviced by, then they may charge a deposit. You should personally go to the electric company because if it's not true, then someone could be attempting to scam both of you.
2007-03-04 10:15:45 · answer #2 · answered by Venita Peyton 6 · 0⤊ 0⤋