John Miller, Credit Cards Moderator
@john_miller
Yes, the opensky card can give credit limit increases without the need for an additional deposit. Opensky may review your account after 6 consecutive on-time monthly payments to determine eligibility, though increases aren’t guaranteed. Some cardholders have reported receiving automatic increases without requesting them, but results vary by individual, so not everyone will have the same experience.
If you can’t get an automated credit limit increase with your opensky card, you can always request one yourself, though this will require you to match the increase with an additional deposit.
How to Request an opensky Card Limit Increase
- Log in to your online account.
- Select “Account Services.”
- Click on “Request Credit Line Increase.”
If your request is approved, you’ll receive a letter with instructions on how to send the additional security deposit, to fund your credit limit increase.
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Does opensky refund your money?
Yes, opensky will refund your money within 4 to 8 weeks after you close your account and pay off your balance. As secured credit cards, the opensky® Secured Visa® Credit Card and opensky® Plus Secured Visa® Credit Card require a security deposit to cover any balance you don’t pay off.
If you pay off your balance completely before closing your account, your full deposit will be returned to you via mail. If you close your account with a balance remaining, the deposit will be used...
read full answer by Theresa Chalfant, WriterHow do opensky credit cards work?
Opensky credit cards work like any other secured credit cards, giving you a credit limit equal to the amount of the refundable security deposit you're required to place. You must make a deposit of at least $200 or $300, depending on the card, and the amount you put down is returned to you (minus any unpaid balance) when you close or graduate your account.
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read full answer by Theresa Chalfant, WriterDid we answer your question?
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