Georgia Power and Deposit?

[Wayr2go]

there website says interest is earned on the deposit and after 12 months of timely payments, it is returned with interest. At merely 1%,however, I'm not all that concerned about the pennies that would accrue as interest. Its more about having a genuine reason to seek a deposit and not just act monopolistic -knowing that there isn't any alternative, they could fleece their customers the way they want.

I spoke with the customer service woman and the way she responded sounded almost like -take it or leave it sort of a deal.

I was thinking of sending them a copy of my credit report - is that a wise thing to do ? to share your credit report with another person/company ?


Edit: Just spoke with the customer service lady and she said I don't need to pay a deposit. So, I'm not sure why there online system would say something different. Seems to have worked itself out on its own !!

[jmsnyc]

I moved here from out of state, my credit score is way above 800 and yet they required a deposit. I was pissed at first but I just dealt with it. Eventually, they credited the amount back towards my bills with small interest, still better than what most banks pay.

[0nyxStation]

Originally Posted by Wayr2go

Is this acceptable ? I'm starting a new connection at my newly leased apartment and I've been told I need to pay a $150 deposit.

My credit is good (atleast from what I've seen on my FICO file) and I have a job that has a stable pay, so I'm surprised to see a $150 deposit requirement.

Just curious as to see whether this is surprising/acceptable/negotiable?

Thank you guys

you have bad credit, i work at Georgia Power, sorry man.

[0nyxStation]

Originally Posted by ElleKaye

I really don't know exactly how they determine whether you need a deposit. When I moved here, I had to give a deposit to Cobb EMC. In January of this year, I did not have to give a deposit to Georgia Power so I was surprised. The deposit seems pretty standard.

From what i was told it is based on your last 7 years of utility bills. Phone, cable, gas, internet, water or light bills, they run your ssn and if you owe any company from the last 7 years you get the 150 fee, that fee gets returned to your account after 12 months of proving yourself as a good customer. I dont work in that department, but ive heard stories about people complaining about the 150 fee, especially from new residents to the metro. Georgia Power is nothing compared to the scam Atlanta Gas n Light aka all the slinter gas companies that report to Atlanta Gas n Light.

[ElleKaye]

Originally Posted by BlackPeach2

From what i was told it is based on your last 7 years of utility bills. Phone, cable, gas, internet, water or light bills, they run your ssn and if you owe any company from the last 7 years you get the 150 fee, that fee gets returned to your account after 12 months of proving yourself as a good customer. I dont work in that department, but ive heard stories about people complaining about the 150 fee, especially from new residents to the metro. Georgia Power is nothing compared to the scam Atlanta Gas n Light aka all the slinter gas companies that report to Atlanta Gas n Light.

Ok, I see what you're saying. I moved here after getting divorced and don't really recall what was in whose name. I guess I have lived here long enough to have established a record so that's why Georgia Power did not charge a deposit. Cobb EMC did credit back the deposit money after around a year though which resulted in my not having to pay a couple of bills.

Now, speaking on gas utility (and I cannot remember which one I had), their bills were ridiculous. I had such a bad experience with the gas companies here that wherever I live has to be all electric. It's a true deal breaker, and I like cooking on a gas stove, but I had to give it up. The thing is this - I was using the same amount of service for heat, hot water, cooking, etc. but paying twice the amount. How can that be?