How Your Credit Score Affects Your Utility Deposits

In this episode of The Credit Score Podcast, Lucas and Luna explore a hidden cost of low credit scores: utility deposits. When you apply for electricity, gas, water, or even cell phone service, companies often check your credit. A low score can mean paying a deposit of $200 to $1,000 or more, while a good score may waive it entirely. The hosts break down how utility companies use FICO scores, the typical deposit amounts across states, and why this practice is controversial. They also discuss how a new FICO scoring model (FICO 10 T) might change the game by including utility payment history. Plus, a real example from a listener in Texas who saved $750 by improving her score before moving. Tune in to understand how your credit score impacts more than just loans and credit cards. #CreditScore #UtilityDeposits #FICO #CreditReports #BorrowerHealth #Finance #PersonalFinance #CreditTips #FICOScore #UtilityCompanies #Deposit #CreditHistory #FICO10T #ListenersQuestion #Texas #CreditRepair #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo