What states is the OpenSky® Secured Visa® Credit Card available?

The OpenSky® Secured Visa® Credit Card is available in all states. OpenSky is affiliated with Capital Bank, which operates nationwide.

What is the average credit score needed to get approved for an OpenSky® Secured Visa® Credit Card?

No credit is required to get the OpenSky® Secured Visa® Credit Card.

Does the OpenSky® Secured Visa® Credit Card report to all three credit bureaus?

Yes, the OpenSky® Secured Visa® Credit Card reports to all three credit bureaus.

Is the OpenSky® Secured Visa® Credit Card application process lengthy? Can you prequalify?

The application process for the OpenSky® Secured Visa® Credit Card is quite simple and only takes five minutes. It entails providing the necessary information through the website. Then, you get to know if Capital Bank approves your application almost immediately.

What information is needed to apply for the OpenSky® Secured Visa® Credit Card?

You will be required to provide your personal information, including your name and contact details. You will also need to give your financial and security information as well as specify the security deposit amount.

What is the minimum security deposit?

This card has a minimum security deposit of $200.

What is the maximum security deposit?

The maximum security deposit for the OpenSky Secured Visa Credit Card is $3,000.

Does the OpenSky® Secured Visa® Credit Card offer upgrades to an unsecured credit card?

Yes, you might qualify for an unsecured credit line if you use your OpenSky® Secured Visa® Credit Card in a responsible manner for the first six months.

Does the OpenSky® Secured Visa® Credit Card raise credit limits automatically or charge for limit increases?

You get to extend your card's initial $200 security deposit to an unsecured credit line by using your card in the right manner for the first six months. In addition, cardholders may apply for increases in limits by logging into their accounts and submitting requests after the first six months. There is no fee for credit limit increases.

Does the OpenSky® Secured Visa® Credit Card have good customer service or satisfaction?

OpenSky has excellent customer service. Cardholders can reach out to the customer service representatives by phone, online through their accounts or via the mobile app.

Does the OpenSky® Secured Visa® Credit Card have a mobile app or the option to pay or manage your account online?

Yes, there is a mobile app and online platform that allow cardholders to manage their credit cards on the go.

Does the OpenSky® Secured Visa® Credit Card offer the option to freeze your credit/account or have other security features?

Yes, OpenSky freezes accounts as soon as they receive reports of a stolen or lost card. Customers can report issues with their cards by calling 1-800-859-6412.

Does Capital Bank offer other credit cards besides the OpenSky® Secured Visa® Credit Card?

No, Capital Bank only offers the OpenSky® Secured Visa® Credit Card.

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.

Advertising & Editorial DisclosureLast Updated: 3/9/2023

Reviewed By

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

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 Feature
Has or Not
Has Annual Fee
Security Deposit Required
Has Rewarding Welcome Offer
Has APR Offer
Has Balance Transfer Fee
Has Cash Advance Fee

Click to see this card’s rates, fees and how they compare to other cards in our dataset.

OUR REVIEW AT A GLANCE

Credit Card Details at a Glance
Pros & Cons Explained
Bonuses & Rewards Explained
Our Verdict: Is This Card for You?

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
Can apply with poor credit
No credit check involved
Instant approval
Nominal annual fee
Security deposit may range from $200 to $3,000
Option to pay security deposit over a 60-day period
Ability to add to the security deposit at a later stage
Possible to get an unsecured credit line after six months
Flexible due dates
Reports to major credit bureaus
Gives you access to your FICO Score

Cons
Foreign transaction fees
Cash advance fees
Annual fee of $35
Accepts any amount between $200 and $3,000 as security deposit
Can pay security deposit over a 60-day period
Offers eligibility-based upgrade to an unsecured credit line after six months
No credit check when you apply and instant approval
Flexibility in choosing due date
Reports to Equifax, Experian and TransUnion each month
View your FICO score online for free
3% foreign transaction fees
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other top-rated cards from our partners.

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

Benefits
Description
No Credit Check
There 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 bureaus
OpenSky submits reports to all three credit bureaus. As a result, you can improve your credit score if you make timely payments.
Quick application process
It takes customers less than five minutes to apply for the card.
Instant approval
Once you submit your application, you find out if you're approved within a few minutes.
Pay security deposit over time
You may choose to pay your card's initial security deposit in up to 60 days.
Upgrade to an unsecured credit line
If you use this secured card in the right manner for the first six months, you might qualify for an unsecured credit line.
Flexible payment dates
You may choose a due date based on your own preference.
Access to FICO score
Cardholders may use their OpenSky accounts to view their FICO scores for free.

Cons

Drawbacks
Description
Annual, late and foreign transaction fees
This card charges a $35 annual fee and a late fee of up to $38. Plus, all international transactions incur a fee of 3%.
Security Deposit
Cardholders pay a security deposit ranging from $200 to $3,000, depending on their preference.
Limited Perks
The card has no introductory offers and no cash back rewards.

INTERESTED IN COMPARING THE BEST CREDIT CARDS OF 2022?

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 Feature
Description
Automated email alerts
You can set up email alerts to remind you when your payment is due or when a transaction has been posted.
Authorized user
It 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 App
Once 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.
Paperless statements
You can enroll for paperless statements through your online account or the OpenSky mobile app.
Customer service
You can reach OpenSky customer service by phone, online through your account or via the mobile app.

MONEYGEEK QUICK TIP

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 Feature
Amount or Rate
APR
21.89% (Variable)
Annual Fee
$35
Min. Security Deposit
$200
Balance Transfer Fee
Unspecified
Balance Transfer APR
Unspecified
Late Fees
up to $38
Cash Advance Fee
$6 or 5%, whichever is greater
Cash Advance APR
21.89% (Variable)
Foreign Transaction Fee
3%

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.

WHERE TO FIND THIS INFORMATION?

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.

WHY TRUST OUR REVIEWS:

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.

View All Credit Cards

Learn more about credit cards in general

sources

OpenSky. "Help." Accessed April 11, 2022.
OpenSky. "OpenSky Cards." Accessed April 11, 2022.

*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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