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  • OpenSky® Secured Visa® Credit Card

    Great secured card with no credit check

    • 22.64% (Variable)APR
    • $200Min. Security Deposit
    • $35Annual Fee
    • None–FairRecommended Credit
    OpenSky® Secured Visa® Credit Card

    Terms, rates and fees apply

If you're trying to build or rebuild your credit, the OpenSky® Secured Visa® Credit Card could be your perfect ally. It doesn't require a credit check, making it an accessible option for all, irrespective of your credit history. The wide security deposit range lets you control your credit limit, with options to increase your limit over time. Combined with a reasonably low APR and moderate annual fee, the OpenSky® Secured Visa® Credit Card offers a pathway to greater financial freedom.

OpenSky® Secured Visa® Credit Card Overview

When choosing a credit card, understanding its features and how they align with your financial goals is crucial. It's not just about obtaining credit; it's about making a strategic choice that can positively impact your financial health and future. Here's a quick overview of the OpenSky® Secured Visa® Credit Card:

  • Regular APR: 22.64% variable
  • Deposit required: $200 to $3,000
  • Potential credit limit: $200 to $3,000 (equal to your deposit)
  • Annual fee: $35
  • Rewards rate: None

Important Card Details

When it comes to choosing a credit card, breaking down and understanding each card's key features can make all the difference in making the right choice. Read on to delve into the features of the OpenSky® Secured Visa® Credit Card, a tool that might just be your ticket to credit success.

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    Wide Security Deposit Range

    The OpenSky® Secured Visa® Credit Card utilizes a security deposit to mitigate risk, making it ideal for those looking to build or rebuild their credit. You can choose a deposit between $200 and $3,000. This determines your credit limit and acts as a safeguard for the issuer if you default. Unlike traditional credit cards, this gives you more control over your limit, and you can add to your deposit anytime to increase it.

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    No Credit Check Required

    One of the most appealing features of the OpenSky® Secured Visa® Credit Card is that it doesn't require a credit check. This is especially beneficial for individuals with low or no credit scores, as it allows them to acquire a credit card without the usual scrutiny. It's a fantastic stepping stone towards credit improvement, enabling you to establish a credit history without the stress of a credit check.

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    Relatively Low APR

    With an APR of 22.64% variable, the OpenSky® Secured Visa® card offers a reasonable rate compared to other secured credit cards. This could mean significant savings over time for cardholders who carry a balance. However, paying your balance in full each month is always recommended to avoid interest charges. Remember, maintaining a low utilization rate also contributes positively to your credit score.

  • annualFee icon

    Modest Annual Fee

    The OpenSky® Secured Visa® card comes with an annual fee of $35. While some cards offer no annual fee, this fee is relatively low considering the card's lenient eligibility criteria and credit-building opportunities. Plus, the potential boost to your credit score may outweigh the annual cost, especially for those on a credit-building journey.

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    Credit Limit Increase Options

    An outstanding feature of the OpenSky® Secured Visa® card is the option to access a higher credit line after just six months without needing to add to your deposit. This not only allows more purchasing power but also aids in maintaining a lower credit utilization ratio, a key factor in credit score calculations. It's a fantastic way to build credit and gain financial flexibility simultaneously.

How the OpenSky® Secured Visa® Credit Card Compares

In the following analysis, we will be conducting a side-by-side comparison of the features, benefits and costs of two different cards to help you make an informed decision about which one better suits your financial needs and goals.

How This Card Compares
creditCard icon

OpenSky® Secured Visa® Credit Card

  • Regular APR: 22.64% variable
  • Deposit required: $200 to $3,000
  • Potential credit limit: $200 to $3,000 (equal to your deposit)
  • Annual fee: $35
  • Rewards rate: None
  • Best for: potentially high credit limit with no credit check
creditCard1 icon

Citi® Secured Mastercard®

  • Regular APR: 27.74% variable
  • Deposit required: $200 to $2,500
  • Potential credit limit: $200 to $2,500 (equal to your deposit)
  • Annual fee: $0
  • Rewards rate: None
  • Best for: potentially high credit limit with no annual fee
*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.
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