OpenSky® Secured Visa® Credit Card

The Open Sky Secured Credit card is an interesting concept. It's kind of a hybrid between a reloadable credit card and a standard card. To obtain credit, you have to put money down. For example, you put 200 down as a deposit, and have up to 400 in credit as a result. This allows people with no or poor credit to build up a history. Unfortunately this card has a 25 dollar fee each time you add funds to it. This really adds to the cost over time. If you can't get anything else, it's an alright choice. But even so, you'll save more by getting something else as soon as you're able. You'd be better off looking at something like the Mastercard Prepaid Credit Card which won't nickle and dime you like this one.

if I put $200 down for the deposit do I have $400 a credit limit

The Open Sky Secured Visa Credit Card is a good credit building card. It has a lower APR than most other credit builders. There are multiple ways to fund your card without a checking account. It is not good that they charge a twenty-five dollar fee to raise your credit limit. You have to send them money before you can use the card. The foreign transaction fee is low as well as the cash advance fee. The annual fee is pretty low and the late fee is not very high either. All in all this is a pretty good card for credit building.

Some excellent things about this Open Sky Visa, but I would avoid. Pros: The annual fee is low, as fees go, but there are many better cards out there with no fees at all. The 17.5% apr and max 21.5% penalty are also okay - not great, but assuming you pay on time, you could do worse. I also like the 25 day grace period on late payments. $20 is a really low late fee, too. However: Cons: You're paying $29 a year for a card that will basically charge you for having good credit and paying attention. $25 every time you increase (or decrease) your credit line? That's RIDICULOUS. They're nickel-and-diming you. If you're looking for a Visa or a capital one, there are many cards out there that have no fees and don't charge for credit adjustments. Their penalties are generally higher, but this card gives you so little flexibility that it doesn't seem worth it at all. AVOID.

The Open Sky Secured Visa Credit Card was a great option for me as I started to re-build my credit. It’s low entry fee, large grace period, and easily adjustable credit line kept me in check. Sure the fees for adjustable credit were a bit of an un-welcomed nuance but it forces you to be mindful and look carefully at how and why you’re spending/changing things. On the whole, there are not many better options for those looking to build or re-build their credit back to a respectable level. Highly recommended!

The Open Sky Secured visa is really only suitable for people with poor credit. The annual fees are in line with other cards of this type, but the APR is a little high compared to others I thought. Also, the $25 fees every time you want to increase funds seems a little excessive. If you don't intend to carry a balance on your credit card, I'd recommend the Capital one cash rewards for newcomers card instead because that card carries no annual fees.

I have had this card for several months now. All had been going well until they stopped their online payment option. In December I mailed my payment in 12 days before the due date. They didn't process it until 4 days after the due date. This month (Jan2015) my paymentbwas due on the 25th. I sent my payment in on the 15th. It is now the 28th and they are telling me they haven't received my payment. No mail takes that long from state to state. This card is not worth the negative impact that it will have on your credit history. Stay clear

Overall, the Open Sky Secured Visa Credit Card is a good card to get for people wanting to build their credit up for the first time or to rebuild bad credit. It's credit line starts out at $200 and goes up. This make it an affordable card for most anyone! The fact that you can also increase your credit line, report to all 3 credit agencies, have a 25 day grace period and requires no checking account is great too! The things I do not like about the Open Sky Secured Visa Credit Card are the high percentage rates on the cash advance option and the max penalty APR. They could lower those a bit! The Open Sky Secured Visa Credit Card is all in all a pretty decent card to start out with! I give it 5 stars!

I have tried for a week now to cancel my card and they make it all but impossible. I have tried their website, checked their FAQ's and my card is fully paid off. Their website would not let me pay the full balance of the card online so I had to make several calls (with several convenient disconnects) to make the full payment. For the last payment I was not able to pay it like I usually do -- they asked that I Western Union the money to them. This was done twice... because the first time I paid it in full, they charged a fee and so the balance was left unpaid. Keep in mind, this is a secured card so the money was mine that I stupidly sent to them. They say this is a "secured credit card", but it really is a prepaid card and I probably would have been better off with a Walmart prepaid card. So I contacted an attorney, paid a rather small fee, and they instructed me on how to cancel the card. Before applying for this card, just go look at their website that's straight out of 1999. With all the security breaches these days, you're really just sending all your confidential information to a small company of probably 10 people that don't give a damn about security. And that's not their Corporate website, like you may see at capitalone.com (I do like that card, despite the interest rate). Search for "Open Sky", but what you're really looking for is "Capital Bank", a rather generic bank name that ensures they are rather hidden. This did nothing to build my credit (it's not even on my TransUnion credit report!?) and it did nothing but charge me and cause headaches. STAY AWAY FROM THIS ONE!

The Open Sky Secured Visa credit card looks like the average credit card that is on the market currently. The only setbacks are, the annual fee which is 29 dollars. The great aspect about this card is that helps with building your credit for someone that is starting to begin having a credit history. You can request to increase your credit limit which is a nice addition. The APR is not that bad--I've seen worse before. The only thing would want on this credit card is a smart chip to prevent hacking attempts--which has happened to me sometimes. Overall this a decent credit card.

I greatly enjoy using this card. What I found to be beneficial about it, is that I was able to secure my line for $1500 so that I could rent a vehicle with no further credit checks, ID checks, or difficulties. I have found it to be very difficult to do so, until this card. The fees are minimal, in my opinion. If you have terrible credit and still need to handle business, this is the card for you!

I was looking for a good card that would rebuild my credit. All of the fees that Open Sky charges make it a bad fit for my needs.

This card is great for what it does: rebuilds credit. When I first started gaining credit, I missed a few payments, and wound up in the hole. This is one the cards that helped me get out of that hole. While it is pricey, and has to be backed with your own money, it does exactly what it is supposed to do. The card is also very pretty, probably the nicest one I have, which could be a plus for the right person!

Ouch, I'm not sure this card is one I can recommend to others. They seem to want to charge a fee for any small thing you want to do. They want $25 a year, $25 for anytime you deposit money, $25 for an increase in credit, even a request in a reduction of your credit limit requires $25. There are much better cards out there. The rates are lower on other cards as well, even notorious store cards that are known for their extravagantly high rates. Check for options from your bank first or credit union.

The most frustrating about this card is the website. It is completely outdated and not at all interactive, very disappointing.

I like the bank that offers this card, also known as Capital Bank. Unfortunately though if you're looking for a card that will eventually become unsecured, this card product is not it. That said, it offers a great interest rate if you decide to revolve, and convenient payment options too. I'm merely using this card as a tool to help demonstrate a positive payment history on a revolving line of credit. And yes after one year there is a $25 fee to request a line increase (of which is your money as the account is solely a secured card).

I don't like the fact that the Open Sky Secured Visa Credit Card charges $25 for a request of a credit limit increase or decrease. To be charged for that just doesn't make sense to me.

Not sure what going on. I've had the card for about 2 months. It has NOT been reporting to Equifax which is the most important right now. Can anybody tell me whats going on? Other than that, the payment takes forever to post to my availalbe balance.

For someone with good credit, there's not much to be excited about when looking at the terms of this credit card. A high interest rate and a $29 dollar annual fee makes it unattractive. If you are in need of re-establishing your credit, then take a look at this card as it looks like a good credit card for you.

Open Sky Secured Visa Credit Card is a secured credit card so anyone can get this card. You have to place a deposit down and however much you put down becomes your credit limit. Great for people trying to establish credit or fixing their payment history. There are other secured credit cards out there who do not charge you Limit Increase/Reduction request fees. Merrick Bank Secured Visa is a competitor of this card and also has a lower annual fee. The late fee is only $20 with this card, which is not bad but totally avoidable by making timely payments.

The Open Sky Secured Visa Credit Card has a lot of great options for customers looking to build their credit. There are low interest rates and lower late fees than most other cards. The only disadvantage seems to be the annual fee of $29. Also, the Open Sky Secured Visa Credit Card requires a deposit. Sure, it is a small one…but isn’t the point of a credit card to not put money up front?

I like the fact that they don't have any front load fees and the annual fee seems reasonable. The rate is high to me, but then, I don't have credit issues. Normally, I use Visa, but if for some reason my credit is ever destroyed through an extended loss of income. I'd use this to rebuild.

Compared to other cards that I have used (MasterCard, American Express), The Open Sky Secured Visa credit card has many advantages: lower interest rates, lower max late fee, and no monthly fees. However, I like to travel a lot and the 3% foreign transaction fee is much higher than other cards, so this is really not a viable option for those who leave the country a lot.

Compared to other cards that I have used, the Open Sky Visa has lower fees and more convenience. I really enjoy the features it offers and the fact that I can use this card in a lot of places. I would recommend this card to anyone looking for something easy to use.

I thought the Open Sky Secured Visa Credit Card would be a good choice while I was in school. But I soon learned I had made a bad choice. Personally customer support was terrible. I could never get a word in edgewise. Stay away from this card if you can.

I actually have an Open Sky Secured Visa Credit Card. It's one of my favorites. I really enjoy how easy it is to build your credit, since my credit was destroyed by stupid choices I made with my first credit card. Easy approval, and the interest rate is really low.

This card is an okay option for someone just starting out, or someone with very poor credit. It is easy to get approved for a secured credit card, but there really aren't many advantages over that. Not only is there a $29 annual fee, but after one year, you are charged each time you request a credit limit increase or decrease. There are better secured cards out there with lower fees.

This card is probably not for everyone. The Open Sky Secured Credit Card requires a deposit, just like renting an apartment. In some ways, that defeats the purpose of a credit card: if I had the money to put down in the first place, I would have just paid it outright and not dealt with the potentially harmful effects of using a credit card. That being said, this looks like a pretty good card if you're looking to build your credit rating, since they already have some of your money. The interest rate is low, and the penalty for late payments is incredibly low compared to other cards. It's also nice that you apparently don't need a bank account, because you can deposit right to the card. All in all, a good beginner or rebuilder card.

The Open Sky Secured Credit Card is ideal for those who need to build their credit. If you've had issues with credit in the past and need to work you way back up to a decent score, you can't do much better than this card. Your credit line is set by how much you deposit (from $200 up to $5000) and with several options for funding available, you do not even need a bank account. Also, there is no interest on purchases if paid in full each month, which can be helpful to allow you to build credit without wasting money. Again, this card is useless for those with good credit, but is a wonderful welcome sight for those who need to work their way back to good standing.

Open Sky Credit Card is a friendly option for people with credit troubles. It has a low annual fee and an extended grace period on purchases. Overall, I would suggest this card to any friends, with low credit scores, that are interested in building their credit.

I have the open sky secured card and in my experience it is very useful. It enabled someone like myself who has a very limited credit history to be approved for credit and establish myself. I would recommend this card to other students like myself

Its one among those life savers I would say. The Open Sky Secured is not only great for rebuilding credit history, but its also a great place to start with for first time users. The secured card with $200 deposit would make first timers use the card judiciously thereby slowly building their credit worthiness. And once we are comfortable with our spending habits, the limits can always be increased. I would really appreciate if they could offer an unsecured card for excellent credit customers based on their spending pattern. That would be a great way to retain customers from drifting away. Anyways, its a great card to have!

The Open Sky Secured Visa Credit Card is the best credit card for those with bad credit. This card is extremely helpful for rebuilding your credit. There were no intial fees to sign up. I had to make a $200 deposit to secure the credit card. My limit has since gone up to a $100. This card has been such a huge help, in helping me to rebuild my credit. As long as you make your payments on time and pay off your balance, they have no problem increasing your spending limit. The interest rate is also much lower than most other credit cards with bad credit

First off, it should be noted that this card is for those with low credit scores and because of this it is secured (meaning that it requires a deposit to attain it). In this case the deposit is $200, which is no small amount of money, but for those who have poor credit it may be worth considering nonetheless. What makes this card appealing is that it has a fair rate at 17.5%. For those who fall into this credit bracket, this is much better than they will get with many credit cards designed for lower credit applicants. On the other hand, this card also has a $29 annual fee which is a detractor. These things are all something that must be considered, but for those who have limited options with a lower credit score this card can help them work up their score and provide them the security of having a credit card. I have used a similar card when I was younger and fell into financial difficulties and believe it is a fair option for those in that position.

If you have bad credit, like me, and need a secured credit card to use, then you can’t go wrong with the Open Sky Secured Visa Credit Card. It has helped me in rebuilding my credit by being a secured card that I can load with my own money and thus won’t go into debt by going over my balance. It’s great that they do not charge any interest as long as you pay your balance in full by the due date each month. Other cards which I have used charged interest whether or not you paid in time so I really enjoy using this card. Take note that there is a minimum deposit of $200 and an annual fee of $29.

The Open Sky Secured Credit Card is a great card to apply for if you have bad credit and would like to increase it. You need a minimum of $200 to open the card, and will need to pay an annual fee of $29. This card would be great to make small purchases to immediately pay right off in order to build credit.

The Open Sky credit card is a great place to start if you do not have so great credit. You put 200.00 opening deposit down . This is a secured card and not a unsecured line of credit. You can put up to 5000.00 onto your card. " After your Account is open for one year or more Capital Bank will charge you a Credit Limit Increase Fee of $25.00 each time you add Deposit Funds and increase the Credit Limit and a Credit Limit Decrease Request Fee of $25.00 each time you request a reduction in your Credit Limit". I think that is the worst part about this credit card. Beware only use it , if its your only option.

The basis behind the Open Sky Secured Card, like most all secured types of credit, is to help someone with previous black marks on their credit rating, reestablish some sense of financial responsibility in hopes of potentially being extended actual credit again in the future. All of these secured cards require a minimum deposit that is essentially no more than a bank drop to generate a debit card type of situation. But different than just a debit card to draw funds from a bank account, secured cards do come with the tag label of the credit card company that issues the card. For instance the Visa Company logo and label are clearly visible on the Open Sky Secured Visa. This can be a very beneficial feature - having a secured card through a recognized credit card company - when a credit card number must be posted to rent something, or confirm a reservation. A debit card most often cannot be used for these types of transactions, but the Open Sky Secured Card can in most circumstances be used for instance to hold a hotel reservation requiring a credit card on file. So in reality is a secured credit card nothing more than a debit card with a fancy logo? Well sort of. Many of these secured cards will gradually extend limited credit availability, as the cardholder proves responsible with the secured aspects of the card. Capital One Secured MasterCard for instance may offer an immediate limited credit line to certain applicants who qualify. The Open Sky Secured Visa Credit Card does not list that as an available aspect of applying initially, but does state that a cardholder can earn extra credit availability up to $5,000.

This a gift from God! Lol, no but really having such awful credit and being able to obtain a secured card is a god send, with a low initial deposit of $200 you are able to open a line of credit that is monitored by three major bureaus! That's a great way to begin to build credit, and not only that, but being able to use it to rent a car is even better! Pre-paid debit cards do not constitute as a credit card and you can't use it to rent a room or a car, so helpful!

The Open Sky Secured Visa Credit Card is my type of card. It's truly for people who may need a second chance. If your credit isn't great, or if you have none at all, this is a great opportunity to build and/or improve it! $200 minimum security deposit or credit line is a great start and can expand to $5000 as needed. Great news for this card, too, is you don't need a checking account to start! This can't even stand up next to my Citibank card! You can avoid paying interest, as no interest is charged on new purchases (if the balance is paid in full by the due date each month). Open Sky is such a suiting name for such a great card!