OpenSky® Plus Secured Visa® Credit Card Review

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ByGrace Pilling
Edited byDenise Cristobal
ByGrace Pilling
Edited byDenise Cristobal

Updated: June 14, 2024

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OpenSky® Plus Secured Visa® Credit Card

Rewards RateEarn up to 10% cash back on everyday purchases at ...
APR29.99% variable
Annual Fee$0
Recommended CreditNo Credit History

The OpenSky® Plus Secured Visa® Credit Card is an ideal choice for anyone aiming to build or repair their credit. What sets it apart is the absence of a credit check during application, significantly boosting approval chances. It's especially beneficial for those cautious about annual fees, as it comes free of this charge. The card is more than just a financial tool; it's a guide towards better financial management, offering helpful features like payment notifications and spending limits. Regularly reporting to the major credit bureaus ensures your credit-building efforts are recognized, making it a practical and accessible option for financial empowerment.

OpenSky® Plus Secured Visa® Credit Card Overview

When choosing a credit card, it's crucial to thoroughly evaluate its features, as they can significantly impact your financial health and align differently with individual needs and circumstances.

  • Regular APR: 29.99% (Variable)
  • Deposit required: $300 to $3000
  • Potential credit limit: $300 to $3000 (equal to your deposit)
  • Annual fee: $0
  • Rewards rate None

Important Card Details

In evaluating the OpenSky® Plus Secured Visa® Credit Card, it's essential to consider a range of features that cater to various financial needs and situations. This analysis aims to provide an unbiased overview, highlighting the advantages and limitations of the card's design to inform you about this financial tool better.

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    Security Deposit

    The OpenSky® Plus Secured Visa® Credit Card requires a security deposit ranging from $300 to $3,000. This deposit determines your credit limit and is fully refundable.

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    Card Eligibility

    With an approval rate of 88%, the OpenSky® Plus Secured Visa® Credit Card is one of the most accessible cards out there. The application process does not include a credit check, meaning your credit score won’t be impacted by your application.

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    Fees

    The OpenSky® Plus Secured Visa® Credit Card doesn’t charge annual fees, reducing your overall expenses as you build or repair your credit.

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    Rewards

    The OpenSky® Plus Secured Visa® Credit Card doesn't offer a traditional rewards program such as cash back or travel points. Secured cards typically lack such features and are instead primarily for building or repairing credit.

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    Other Perks

    The OpenSky® Plus Secured Visa® Credit Card offers additional perks such as payment notifications and built-in spending limits. These tools help cardholders stay within budget and make timely payments.

How the OpenSky® Plus Secured Visa® Credit Card Compares

In this detailed comparison, we'll examine two popular credit cards, exploring their features and benefits to assist you in choosing the one that best suits your financial needs and spending patterns.

How This Card Compares

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OpenSky® Plus Secured Visa® Credit Card

  • Regular APR: 29.99% (Variable)
  • Deposit required: $300-$3,000
  • Potential credit limit: $300-$3,000 (equal to your deposit)
  • Annual fee: $0
  • Rewards rate: None
  • Best for: Those looking to build or rebuild credit and who are comfortable with a high APR and no rewards in exchange for a no-annual-fee, secured credit line
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Discover it® Secured Credit Card

  • Regular APR: 28.24% (Variable)
  • Deposit required: $200 to $2,500
  • Potential credit limit: $200 to $2,500 (equal to your deposit)
  • Annual fee: $0
  • Rewards rate: Earn 2% cash back at gas stations and restaurants (up to $1,000 in purchases per quarter) and 1% cash back on other purchases; matches all your cash back in the first year
  • Best for: Individuals building credit who value earning cash back on gas and dining, plus a first-year match and no annual fee

About Grace Pilling


Grace Pilling headshot

Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.

Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.


*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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