MoneyGeek’s Take
OpenSky® Secured Visa® Credit Card Review
The OpenSky® Secured Visa® Credit Card is an exceptional option for people with poor to fair credit who are looking for a secured card that does not require a credit check. This card allows you to increase your credit limit, and you can add authorized users once your application is approved. You get to know if your application is approved almost immediately.

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MoneyGeek’s OpenSky® Secured Visa® Credit Card review can help you determine whether the card is suitable for your needs. This card allows individuals to build their credit. It also gives you the ability to get an unsecured credit line after the first six months. However, it comes with an annual fee, cash advance fee as well as foreign transaction fees.
Additionally, with a high APR and a late fee, you may want to be careful about making late payments as this may result in large interest penalties.
The OpenSky® Secured Visa® Credit Card features various charges, including an annual fee, a minimum security deposit of $200 as well as cash advance fees. The card doesn’t allow balance transfers. Providing your security deposit over time is an option.

Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Security Deposit Required
- Has Rewarding Welcome Offer
- Has APR Offer
- Has Balance Transfer Fee
OpenSky® Secured Visa® Credit Card at a Glance
Beyond not requiring a credit check to apply, the OpenSky® Secured Visa® Credit Card provides several benefits that make it a worthy option. For starters, you find out if you're approved soon after you submit your online application. Your credit limit depends on the amount of your refundable deposit, which may range from as low as $200 to $3,000, and you may take up to 60 days to provide the same. The application process takes less than five minutes, and the card can help you build your credit. It also offers an upgrade to an unsecured credit line after the first six months for eligible cardholders.
- OpenSky® Secured Visa® Credit Card
A good secured card for those who have poor credit
- None–FairRecommended Credit
- $35Annual Fee
- $200Min. Security Deposit
- 3# of Reporting Bureaus
- 21.89% (Variable)APR
Pros & Cons Explained
Before submitting your application for this card, make sure to understand the OpenSky® Secured Visa® Credit Card’s benefits and drawbacks. This can help you decide whether or not the card is worth applying for.
Pros
- BenefitsDescription
- No Credit CheckThere is no credit check required when you apply for this card, which means that your credit score won’t be affected. Individuals with poor credit are allowed to apply.
- Reports to three credit bureausOpenSky submits reports to all three credit bureaus. As a result, you can improve your credit score if you make timely payments.
- Quick application processIt takes customers less than five minutes to apply for the card.
- Instant approvalOnce you submit your application, you find out if you're approved within a few minutes.
- Pay security deposit over timeYou may choose to pay your card's initial security deposit in up to 60 days.
Cons
- DrawbacksDescription
- Annual, late and foreign transaction feesThis card charges a $35 annual fee and a late fee of up to $38. Plus, all international transactions incur a fee of 3%.
- Security DepositCardholders pay a security deposit ranging from $200 to $3,000, depending on their preference.
- Limited PerksThe card has no introductory offers and no cash back rewards.
The OpenSky® Secured Visa® Credit Card is not among the top secured cards based on MoneyGeek’s research. If you are looking for a secured credit card, it might be worth evaluating other options to see if you can find a better fit for your needs.
Other Features Explained
The OpenSky® Secured Visa® Credit Card comes with various features and benefits. We evaluated some of the top features to help you decide if this card is a good option for you.
- Card FeatureDescription
- Automated email alertsYou can set up email alerts to remind you when your payment is due or when a transaction has been posted.
- Authorized userIt is easy to add authorized users to the OpenSky Secured Visa Credit Card. You can do this by calling the number on the back of the card. However, to add a user, you must be the primary cardholder. Additionally, this can only be done after your application has been approved.
- OpenSky AppOnce OpenSky activates your credit card and you have created your online account, you can use the account to create credentials to log into the mobile app.
If you want to set a higher credit limit with the OpenSky® Secured Visa® Credit Card, you can provide a larger refundable deposit than the $200 minimum. You can also request a credit line increment by calling OpenSky directly.
Understanding the Fine Print
There are various fees associated with the OpenSky® Secured Visa® Credit Card, as outlined below. The card has an annual fee, cash advance fee and foreign transaction fee. Make sure you fully understand the fine print so that you aren’t surprised by any fees that you may incur.
- Card FeatureAmount or Rate
- APR21.89% (Variable)
- Annual Fee$35
- Min. Security Deposit$200
- Balance Transfer FeeUnspecified
- Balance Transfer APRUnspecified
Regular APR
The OpenSky Secured Visa Credit Card review indicates that the card features an APR of 21.89% (variable). The interest is applicable to regular purchases and cash advances.
Annual Fee
The card features an annual fee of $35, which is considered average compared to other secured credit card options.
Foreign Transaction Fee
With this card, you will pay a 3% fee on all transactions made outside the United States.
Cash Advance Fee
OpenSky charges a cash advance fee of either $6 or 5% of the advance amount, whichever is higher.
Late Payment Fees
Cardholders are charged a late fee of up to $38 on this card for payments delayed past the deadline. The due date is 25 days after the close of the billing cycle.
To compare other cards with the OpenSky® Secured Visa® Credit Card, you can obtain information from your online account, mobile app or your billing statement. Additionally, you can find information via the credit card agreement database that is maintained by the Consumer Financial Protection Bureau
Who Should & Shouldn’t Consider OpenSky® Secured Visa® Credit Card?
Other Considerations for OpenSky® Secured Visa® Credit Card
Several factors determine whether the OpenSky® Secured Visa® Credit Card will benefit you or not. Before submitting an application, you should have a clear understanding of how you intend to use the card since it comes with various requirements and costs.
Things to Consider if This Will Be Your First or Only Credit Card
If you plan to use the OpenSky® Secured Visa® Credit Card as your first or only card, evaluate its interest rates, fees and security deposit amount. With this card, you will need to ensure you pay off your balances by the end of every cycle to avoid high interest charges.
To build your credit limit, you will need to consider a higher security deposit than the minimum amount.
This can be a good first credit card since it doesn’t require a credit check. In turn, using it responsibly can help you build your credit so that you can access better cards that offer no fees and rewards later on.
Things to Consider if This Will Be an Additional Card in Your Wallet
If you are thinking about adding the OpenSky® Secured Visa® Credit Card to your wallet, it can be a good solution that allows you to rebuild your credit limit over time. However, it features annual fees, cash advance fees and foreign transaction fees. Not receiving cash back on your purchases can also be limiting. Cardholders who need an option with no annual fees and a robust reward program may need to get an alternative card.
Unless you need a card that can help you improve your credit, this might not be the best addition to your wallet.
MoneyGeek utilizes a thorough methodology process to determine the best credit cards across multiple categories. The process involves obtaining credit card information from the Consumer Finance Protection Bureau, coming up with standardized data points and potential cardholder profiles, then using these to assess annual and introductory perks for each card. We then ensure updated information by reviewing and reranking data monthly.
How OpenSky® Secured Visa® Credit Card Compares to Other Cards
The OpenSky® Secured Visa® Credit Card application process is simple since no credit check is required, and you get to know if you're approved almost instantly. If you have poor to fair credit, you can easily grow your credit line depending on the refundable deposit amount. However, how suitable the card is for you will depend on the specific features you are looking for. Comparing the card to another option in the same category can help you determine if it’s the right option for you.
Quick Comparison of OpenSky® Secured Visa® Credit Card
OpenSky® Secured Visa® Credit Card
- Annual fee: $35
- Purchase APR: 21.89% (variable)
- International transaction fee: 3%
- Cash advance fee: $6 or 5%
- Minimum security deposit: $200
- Reward rate: None
- Best for: People with no or poor or no credit who want to build and improve their credit history.
Citi® Secured Mastercard®
- Annual fee: $0
- Purchase APR: 26.99% variable
- International transaction fee: 3%
- Cash advance fee: 3%
- Minimum security deposit: $200
- Reward rate: None
- Best for: Balance transfers and people who are seeking an option with no annual fee.
Other Helpful Decision-Making Q&As
Here are some frequently asked questions about the OpenSky® Secured Visa® Credit Card with responses from MoneyGeek. These will help you find the additional details you need about the card.
Still not sure about this card? Consider these options.
If the OpenSky® Secured Visa® Credit Card does not meet your needs, you may want to consider many other options. For example, you can consider the best credit cards for people with bad credit to find a card that better fits your preferences.
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sources
- OpenSky. "Help." Accessed April 11, 2022.
- OpenSky. "OpenSky Cards." Accessed April 11, 2022.
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