Theresa Chalfant, Writer
@theresa_chalfant
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 to pay it off and you’ll only be refunded for what remains. Both cards also offer the option to get your deposit back if you graduate to an unsecured opensky® Gold Card, which you can become eligible for after six months of on-time payments.
Along with a deposit of at least $200, the opensky card also charges an annual fee of $35, which is not refundable. The opensky Plus Credit Card card has a $0 annual fee.
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People also ask
What is a security deposit for a credit card?
A security deposit for a credit card is a fully refundable sum that you pay to a credit card issuer before a secured credit card account is opened. The amount of the deposit usually becomes the account’s credit limit, and the cardholder gets the money back after bringing the card’s balance to zero and closing the account. Since the security deposit on a credit card protects the issuer against the threat of nonpayment, it makes getting a credit card...
read full answer by Ryan P Page, Staff WriterHow much is the opensky security deposit?
The opensky security deposit can be as low as $200 and the maximum is $3,000.
Keep in mind that the security deposit also serves as your spending limit, preventing you from charging more than you can afford to repay. This is the main reason why the opensky accepts people with bad (300+) credit. Furthermore, this card doesn’t do a credit check when you apply.
Lastly, opensky reports to all three major credit bureaus,...
read full answer by Carmen Welsh, MemberHow do I cancel an opensky Secured Visa Credit Card?
To cancel an opensky® Secured Visa® Credit Card, call customer service at the number on the back of your card. It may be possible to cancel other ways, but calling should be the most straightforward method since you can speak to a representative.
How to Cancel an opensky card
- Pay off any remaining balance. If there’s a balance remaining on the canceled account, you are still required to make at least the minimum payment every month...
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It is now January 26, 2026. I just got off the phone with "Opensky" for the 15th time trying to get my deposit check back. They have told me one story after another. I have been waiting for almost a YEAR for my deposit check of $3000 to be refunded. They are nothing but criminals.
Not the experience of most and not mine! I am waiting going on 2 years for a $1500 security deposit return and I've been shuffled around to random departments for 2 years if I'm lucky enough to even get a phone call answered with their 2 hour waits. Many people share this same issue. This may help you build your credit but you might not get your deposit back. And yes I had a 0 balance meaning I should have received 100% of my deposit back!