Gas company requires deposit

[JGGM]

I wasn't sure where to put this, but I wanted to share a funny (well, not really) story. I'm moving this weekend to my first house. I've been a renter for longer than I care to admit. Anyway, I was setting up my gas service thru the provider and it says $60 deposit required unless you wish for them to consider your credit. So I gave them my social. My scores are all north of 780, regardless of bureau pulled. I have over 110k in available credit, and my new mortgage is for $242k. So imagine how shocked I was when, after they did a soft pull on my credit, they said I did not meet their criteria to waive the deposit! Seriously I'm floored. Amex thinks I can handle a 30k credit line but the gas provider thinks my credit is not good enough for a $30 bill!? 

I was a bit irked to say the least. I paid their stupid deposit fee, but still think it's absurd. 

[DoctorManhattan]

It’s not Columbia Gas right? Because they’re going through some tough times lol

[JGGM]

No, it’s Centerpoint

[Anonymous]

---

@JGGM wrote:
No, it’s Centerpoint

---

Food for thought? Maybe it is because you had not had utility services as a home owner before? While you scores etc look fine but their policies are likely set up for the lower income levels and you are caught in it as a newbie?

It has happened to me so I wonder?

[JGGM]

Yea I’ve never had gas before so I assume that’s what their issue was. But they really shouldn’t offer to waive deposit with a soft pull on credit if they’re not going to base the decision on the data in the report. Also could be that a computer made the decision, not a human.

[FinStar]

A variety of these decisions are typically automated these days, and just like it was mentioned upthread, if you've had no history of a utility service under your name in the past, then that likely points to the decision. Then again, I don't think $60 is an exorbitant amount for a utility deposit ¯\_(ツ)_/¯

[Anonymous]

At least it was a SP!

The cable company wanted to HP my credit or put down a $100 deposit. I did the deposit only because we were looking to buy a house within the year

[FlaDude]

In my experience, many utilities will refund the deposit after one year or on-time payments.

[FireMedic1]

---

@FlaDude wrote:

In my experience, many utilities will refund the deposit after one year or on-time payments.

---

+1 FP&L does it by chunks.

[CreditInspired]

---

@Anonymous wrote:

---

@JGGM wrote:
No, it’s Centerpoint

---

Food for thought? Maybe it is because you had not had utility services as a home owner before? While you scores etc look fine but their policies are likely set up for the lower income levels and you are caught in it as a newbie?

It has happened to me so I wonder?

---

This is what I was thinking too.

OP, view it as funny, because it really is. It's $60, not $500 😆