Utility Deposit Calculator

See how your credit score affects utility connection deposits

Utility Setup Details
Select the utilities you need to connect

Average household: $150-250/month

Required Deposits
Based on your credit score: 740-850
$0
Total Upfront Deposits

Deposit Breakdown:

electric$0
gas$0
water$0
Internet/Phone$0
Credit Score Impact on Utility Deposits
See how different credit scores affect your upfront costs
Credit ScoreRatingDeposit MultiplierTotal DepositsExtra Cost
740-850ExcellentNo deposit$0Best Rate
670-739Good1x monthly bill$220+$220
580-669Fair2x monthly bill$440+$440
300-579Poor3x monthly bill$660+$660
Understanding Utility Deposits

Utility companies use credit scores to assess the risk of non-payment. Poor credit often means higher deposits to secure service.

How Deposits Work

  • Required upfront before service activation
  • Typically 1-3 times your estimated monthly bill
  • Held as security against unpaid bills
  • Usually refundable after 12 months of on-time payments
  • May earn interest in some states

Factors That Affect Deposits

  • Credit score and credit history
  • Previous utility payment history
  • Income verification
  • Type of utility service
  • Local regulations and utility policies

Alternatives to Deposits

  • Letter of guarantee from previous utility
  • Co-signer with good credit
  • Prepaid utility programs
  • Budget billing plans
  • Third-party deposit assistance programs
Strategies to Avoid or Reduce Deposits

Improve Your Credit Score

  • Pay all bills on time, including current utilities
  • Keep credit card balances low
  • Don't close old credit accounts
  • Check credit reports for errors and dispute them
  • Consider becoming an authorized user

Provide Additional Documentation

  • Proof of steady income and employment
  • Bank statements showing financial stability
  • Letter from previous utility company
  • References from landlords or employers

Timing and Planning

  • Set up utilities in advance to avoid rush fees
  • Transfer service from previous address when possible
  • Ask about payment plan options for deposits
  • Budget for deposits when moving

Getting Deposits Back

  • Make all payments on time for 12 months
  • Request deposit review after good payment history
  • Deposits typically applied to final bill when moving
  • Some utilities pay interest on held deposits
$800+
Average deposits with poor credit
3x
Monthly bill multiplier
12
Months to get deposit back
$0
Deposits with excellent credit

Ready to Eliminate Utility Deposits?

Improving your credit score can save you hundreds in upfront utility deposits and make moving more affordable.

Get Free Credit ReportSee Full Credit Impact