Xcel Energy credit check (Denver: mortgage, credit report, transfer)

[harrison21]

I am moving and need to set up Xcel for the new address. I was filling out their form online, but it states that they need to do a credit check to see if you need to put down a deposit. I googled this and it's a hard pull. I have recent hard pulls on my credit report due to getting my mortgage for the move- two because I got pre-approved in early May and then didn't find anything until very recently, so they checked it again before final approval. I also had to buy a new car in January (not planned, previous one was totaled ) and the car place also did a hard pull even though I paid in cash! I don't want to put another one on there! I've had Xcel at my other Denver addresses for over seven years now and never paid anything late. Couldn't they just look at my account and see that? Would I have any luck with calling them and seeing if they can look at the account instead? It seems they really don't want you to call because any information given about transferring an account refers you to the online form. Anyone done this recently?

[2bindenver]

Don’t give it a second thought. They use a different credit reporting service.

[WhereTheSidewalkEnds]

When we bought our place last fall, all I did was login to my current account and do a stop and start for addresses. Put in a date to stop service at current address and then start date on another. There was nothing about credit checks if I recall. If you have a current account and don't have a deposit with them now, you shouldn’t have to worry about it with a new place.

[BarryK123]

The hit to a credit score from hard checks is real, but it's one of the minor factors that influences it and only lasts a short time. Is there a reason you're so concerned about it?

[mysterymachinebl]

Originally Posted by WhereTheSidewalkEnds

When we bought our place last fall, all I did was login to my current account and do a stop and start for addresses. Put in a date to stop service at current address and then start date on another. There was nothing about credit checks if I recall. If you have a current account and don't have a deposit with them now, you shouldn’t have to worry about it with a new place.

This. I moved a few months ago and all I did was a stop/start service request.

[Timmyy]

Originally Posted by BarryK123

The hit to a credit score from hard checks is real, but it's one of the minor factors that influences it and only lasts a short time. Is there a reason you're so concerned about it?

I agree with this. A hard pull is only on your credit for two years. Unless you have to apply for some major credit in the near future you should be good.

[blindside]

Or just pay the deposit. I had the same reservations as you when I started and I just plunked down the $150. Got it back in a year.

[harrison21]

When I originally was looking at the form, I wasn't signed in. When I signed in, the box authorizing a credit check was gone but I was still required to put in a driver's license or SS number, so I'm really hoping they didn't do the credit check.

As far as why I was concerned, as I mentioned in the OP I have several other recent hard pulls. From what I've seen, one hard pull barely impacts your score, but several for different reasons in a short time can have a big impact. While I certainly hope that I won't need any financing or anything in the next couple of years, you never know. I definitely wasn't planning on buying a new car any time soon until mine was totaled. Things happen.