OpenSky® Secured Credit Visa® Card Review

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OpenSky® Secured Credit Card is known for helping consumers build credit responsibly. Find out other benefits in our review below.
  • Annual Fee:
  • Variable APR:
    17.39% Variable APR
  • Intro APR:
  • Security Deposit Required:
  • Recommended Credit Score:
    300 - 689

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If you have poor credit or no credit and want a credit card, the OpenSky® Secured Credit Visa® may be a good choice.

Every person has different credit card needs, though, so read my OpenSky® Secured Credit Visa® review to see if it’s right for you.

Credit Card Details:

Consumers with bad credit often have trouble getting a credit card, but the OpenSky® Secured Visa makes it easy.

There’s no credit check, they report to all three credit bureaus, and you only need a $200 security deposit.

  • Refundable deposit when you are ready to close the card
  • Everyone is eligible since there’s no credit check
  • There’s a $35 annual fee
  • Help you build credit since it reports to all three credit bureaus

OpenSky® Secured Credit Visa® Card Pros and Cons


  • You don’t have to worry about your credit score because OpenSky® won’t check your credit history
  • You don’t need a bank account to qualify
  • You can get a credit line between $200 – $3,000
  • Relatively low annual fee


  • Charges many ‘other’ fees, including an inactivity fee, returned payment fee, late fee, and cash advance fee
  • You need at least $200 down to open a card, and your deposit equals your credit line
  • There’s a $35 annual fee

What Is the OpenSky® Secured Credit Visa® Card?

If you have bad or no credit, most credit card companies won’t give you a credit card, but a secured credit card is often a viable option, which the OpenSky® is – a secured credit card with decent benefits.

If you have no or bad credit, this Visa® helps you build credit. Your security deposit is equal to your credit line, so however much you can put down is how much credit you’ll receive.

How Does the OpenSky® Secured Credit Visa® Card Work?

The OpenSky® Secured Credit Visa® Card is a standard secured credit card. You make your deposit, and they give you the credit line.

You may use the credit line like any credit card. You use the credit card to make purchases and pay the bill when it arrives.

You have the option to make just the minimum payment but be careful because you’ll pay 17.39% interest on your purchases.

The point of a secured credit card is to use the credit responsibly (making purchases and paying the bill in full) so you get good credit.

The longer you have a secured credit card, the faster you’ll build better credit.

A secured credit card helps you build credit in a few ways:

  • Positive payment history – Your payment history makes up the largest part of your credit score. If you make your payments on time, it helps build your score.
  • Low credit utilization – Keep your charges at less than 30% of your available balance, and you’ll help your credit score increase. Credit utilization is the second largest part of your credit score.
  • Credit length – The longer you keep the secured credit card, the more it will help your credit by giving you a longer credit age.

OpenSky® Secured Credit Visa® Card Features & Benefits

  • No Credit Check Required: Most credit card companies check your credit to see if you qualify for a credit card. If you have bad or no credit, it’s hard to get approved for a credit card. OpenSky® doesn’t check your credit, so everyone qualifies.
  • You Don’t Need a Bank Account: Some credit card companies require proof of your bank account to qualify for a credit card, but OpenSky® doesn’t require a bank account.
  • Low Annual Fee: Most credit cards for consumers with bad or no credit have an annual fee much higher than OpenSky®’s $35 fee.
  • Build Credit Responsibly: A secured credit card helps you build credit responsibly. Essentially, you’re using your own money. If you don’t pay your bill, they keep your deposit. It’s a good way to keep yourself accountable and build credit at the same time.
  • Easily Deposit Funds: You can make your security deposit multiple ways, including electronic bank transfer, wire transfer, Western Union transfer, and money order via mail.

Pitfalls of the OpenSky Secured Credit Card

  • Inactive Account Fee: If you don’t use your OpenSky® account for 12 months, they charge a $10 inactivity fee.
  • Foreign Transaction Fee: OpenSky® charges a 3% foreign transaction fee for any transactions made outside the United States.
  • Cannot Upgrade Cards: Many secured credit cards automatically upgrade you to an unsecured card after 6 – 12 months of proper use of the secured card, but OpenSky® doesn’t offer that option.
  • Cash Advances Are Expensive: If you need cash from your OpenSky® card, it will cost you 5% of the amount you withdraw.
  • Still an Annual Fee: Despite all the fees and security deposit, there is still an annual fee of $35 for the OpenSky® Visa.

OpenSky® Secured Credit Alternatives

Who Is the OpenSky® Secured Credit Visa® Card Best for?

If you have little to no credit, the OpenSky® Secured Credit Visa® is a great option. It helps you build credit without allowing you to go overboard since your credit line is equal to your security deposit.

It’s also a great option if you’re trying to fix your ‘bad’ credit score. With a positive payment history and regularly charging no more than 30% of your credit line, you could build your credit score fast.

Frequently Asked Questions

Is OpenSky a Good Secured Credit Card?

The OpenSky® Secured Credit Visa® is good for people who need a credit card and don’t have great (or any) credit.

It does have its downfalls, including an annual fee and high APR among a whole slew of fees, but if it’s what helps you build credit, it could be a good temporary option.

Does OpenSky Increase Your Credit Limit?

OpenSky isn’t forthcoming with its procedures for increasing your credit limit. Most secured credit card companies let you increase your limit by adding to your security deposit, but OpenSky doesn’t offer this option.

If you want to increase your credit limit, you must submit a request to customer service, who does something behind the scenes to determine if you qualify.

There’s no guarantee that they’ll increase your credit line even with a higher security deposit.

Who Issues the OpenSky Credit Card?

Capital Bank is the bank behind the OpenSky® Secured Credit Visa®. Capital Bank is FDIC insured and has many typical bank products.

Where Can You Use the OpenSky Card?

You can use the OpenSky® Secured Credit Visa® anywhere Visa is accepted, including ATMs for a cash advance but watch out for the 5% cash advance fee.

Can You Increase Your Credit Limit with the OpenSky Card?

If you have a great history using your OpenSky® Secured Credit Visa®, Capital Bank may increase your limit with a higher security deposit, but they must approve it first.

How Long Does It Take to Get the OpenSky Card in the Mail?

It usually takes around 2 weeks to receive your OpenSky credit card once you make your security deposit, and it clears with Capital Bank.

Is OpenSky® Secured Credit Visa® Card Legit?

Yes, the OpenSky® Secured Credit Visa® is legit, but like any credit card, always read the fine print and know the fees.

Make sure the $35 annual fee is worth it, which it usually is if you don’t qualify for an unsecured credit card.

Is OpenSky® Secured Credit Visa® Card Safe to Use and Good for Building Credit?

Capital Bank reports your OpenSky® Secured Credit Visa® account to the credit bureaus, which is how you build credit.

It’s a safe way to build credit since you can only charge up to your security deposit amount. If you are worried about overspending, keep your limit low by making a low-security deposit.

Bottom Line: OpenSky® Secured Credit Visa® Card Review

If you need help building credit and to work your way up to an unsecured credit card, the OpenSky® Secured Credit Visa® is a great option.

While it costs $35 a year, you shouldn’t need it for more than one year if you use it for what it’s worth – building credit by using the credit card the right way.

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Kim Pinnelli
Kim Pinnelli

Kim Pinnelli is a Senior Writer, Editor, & Product Analyst with a Bachelor’s Degree in Finance from the University of Illinois at Chicago. She has been a professional financial writer for over 15 years, and has appeared in a myriad of industry leading financial media outlets. Leveraging her personal experience, Kim is committed to helping people take charge of their personal finances and make simple financial decisions.