Accepted Credit Scores 
Bad Credit, Limited History
OpenSky® Secured Visa® Credit Card
Editor’s Take
John Kiernan, Credit Card Editor
Jun 15, 2020
Review: OpenSky® Secured Visa® Credit Card
OpenSky Review Summary: The OpenSky Credit Card is an affordable secured card with no credit check for new applicants – meaning there is no hard inquiry into your credit history when you apply. That’s why OpenSky is a great choice for people with damaged credit who want high approval odds. Without a credit check, the OpenSky Card’s main approval requirements are being 18+ years old and having enough income to afford a $200+ security deposit, along with a $35 annual fee and monthly bill payments.
Those are the most important things to know before applying for the OpenSky Secured Visa. Below, you can find additional information to help you make up your mind about this offer.
OpenSky Secured Credit Card Review Highlights:
Those are the most important things to know before applying for the OpenSky Secured Visa. Below, you can find additional information to help you make up your mind about this offer.
OpenSky Secured Credit Card Review Highlights:
- No credit check is great news for credit-rebuilders. Nearly all credit cards – including secured cards – require a credit check and have certain approval criteria that applicants must meet. For example, it can be difficult to get many secured cards if you have a recent bankruptcy or tax lien on your record. But that’s not the case with the OpenSky Credit Card. OpenSky simply needs to verify your identity. This saves you from a hard credit inquiry that could temporarily lower your credit score, while enabling you to begin adding positive information to your credit reports as soon as possible.
- $200 minimum security deposit. The OpenSky Visa is a secured credit card, which means you will be required to place a refundable security deposit, the amount of which will act as your credit limit. This limits the issuer’s risk, giving applicants higher approval odds and fairly low fees. At $200, OpenSky’s required security deposit is lower than that of most secured cards.
- $35 annual fee isn’t cheap or expensive. OpenSky’s annual fee is about average for a secured card, according to WalletHub data. So it isn’t necessarily a deal-breaker. But there are some secured cards with no annual fee, which you should definitely check out if your credit isn’t too severely damaged.
- There are more fees to watch out for. The OpenSky Secured Credit Card charges a 3% foreign-transaction fee.
- Average APR, but financing still isn’t wise. Carrying a balance from month to month with a secured card doesn’t make much sense because it’s basically the equivalent of charging yourself for a loan. But if you’re unable to pay your bill in full during a given month, your balance will accrue interest at a 17.39% (V), which is about what the average secured card charges, according to WalletHub’s latest Credit Card Landscape Report.
Jun 15, 2020
OpenSky® Secured Visa® Credit Card's Key APRs & Fees
| ONE-TIME FEES |
|---|
| None |
| ANNUAL FEE |
| $35 |
| MONTHLY FEE |
| None |
| REGULAR RATE |
|---|
| 17.39% (V) |
| GRACE PERIOD |
| 25 days |
OpenSky® Secured Visa® Credit Card's Highlights
| No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone. |
| The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200. |
| Build credit quickly. OpenSky reports to all 3 major credit bureaus. |
| 99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months. |
| We have a Facebook community of people just like you; there is a forum for shared experiences, and insights from others on our Facebook Fan page. (Search “OpenSky Card” in Facebook.) |
| *View our Cardholder Agreement located at the bottom of the application page for details of the card |
OpenSky® Secured Visa® Credit Card's Additional Info
| MAX LATE FEE |
$38 |
|---|---|
| MAX OVERLIMIT FEE |
None |
| MAX PENALTY APR |
None |
| FOREIGN TRANSACTION FEE |
3% |
| SMART CHIP |
Yes, chip-and-signature |
-
CASH ADVANCE APR
17.39% (V)
-
CASH ADVANCE FEE
5% (min $6)
at Capital Bank's secure site
Related Credit Cards
If you are interested in the OpenSky® Secured Visa® Credit Card, check out the following credit cards as well:
Related Credit Card Categories
OpenSky® Secured Visa® Credit Card is related to the following categories:
Customer Questions and Answers
Don't see what you're looking for? Submit your question about OpenSky® Secured Visa® Credit Card to our community.
Is OpenSky a major credit card? Reply 3
Fred Lincoln
@fred_lincoln
The OpenSky Secured card is considered a major credit card. But while the card is one of the more famous ones for getting your score up or just established, Capital Bank isn't exactly Discover.
I guess it's a medium? Credit union cards would be the small ones, so this one is definitely much better than that as far as exposure goes. But it is a Visa card, which means it's on one of the most major card networks.
3
Upvotes
How much time do I have to pay my initial Opensky credit card deposit? Reply 3
Monica Prill
@monica_prill1
You’ve got 60 days maximum to fund your Opensky credit card deposit, but you really shouldn’t wait that long.
3
Upvotes
Does Opensky use smart chip technology? Reply 32
WalletHub
@WalletHub
New OpenSky Visa cards have smart chips and use the chip-and-signature authentication.
This is good news, considering that chip-based cards are considered to be more secure than magnetic stripe cards since they are much harder for criminals to duplicate.
You can learn more about chip-and-signature cards and how they differ from chip-and-PIN cards here.
3
Upvotes
How can I activate my Opensky credit card? Reply 2
Benny Joseph
@Benjy_1
You can activate your Opensky credit card online. Go to this page and click the blue MyAccount button located at the top. You will be directed to the online account management login page. Create an account and look for the bright green Activate Card button on the top right.
On a mobile device, log into your account using the same credentials, select the Menu option at the top and click Activate Card.
2
Upvotes
Can I decrease my Opensky credit card credit limit? Reply 2
Debbie Fischer
@globetrotter4li
You cannot decrease your OpenSky credit limit unfortunately. The only way to get your deposit back is to close your account, as there's no option to graduate either.
2
Upvotes
What's my Opensky Visa cash advance limit? Reply 22
RHONDA STEWART
@rhonda
You will be able to withdraw cash up to your available OpenSky Visa cash advance limit. That's a portion of your entire credit limit and is available in your monthly statement. Take into account that when performing the advance, a fee of $6 or 5% of the cash advance amount is assessed immediately.
Furthermore, interest begins accruing immediately at a rate of 19.14%, so it will be pretty expensive.
2
Upvotes
Does Opensky report to all three credit bureaus? Reply 2
Alicia Kane
@Alicia_K
The OpenSky credit card will report to all three major credit bureaus - TransUnion, Equifax and Experian.
2
Upvotes
How long does it take to get approved for the OpenSky credit card? Reply 22
Syd Jones
@syd.jones
Most of the time, there's no processing time for your OpenSky credit card application. So the only thing that involves waiting is your credit card delivery, which should take about 2 weeks. Of course, application processing will take longer if they're not able to verify your identity right away.
2
Upvotes
Can I use my Opensky credit card internationally? Reply 2
Anne Williams
@anne_williams_1
You can use the OpenSky credit card internationally.
The Opensky card is a Visa, which means it's accepted pretty much anywhere in the world. But if you're going to use it with foreign merchants, keep in mind there's a 3% foreign transaction fee, which is not ideal.
2
Upvotes
OpenSky® Secured Visa® Credit Card Video Review
OpenSky® Secured Visa® Credit Card Reviews
Share your insights and review the OpenSky® Secured Visa® Credit Card.
Mar 03, 2017
I had the most wonderful experience with Open Sky. I used the Visa card for about 8 or 9 months, paid my balance down to zero, and got my original $200.00 back in 6 weeks. PLUS my credit improved dramatically. Thank you Open Sky!
Comment
Feb 27, 2017
The very worst card to get. Started with 250 every month i pay with check over phone they take money out of the bank i have to wait sometimes 3 weeks... i also pay it 1-2 weeks early never late... everytime i have to call customer service and hold on phone... payed bill on 12th of February now 27th and waiting... capital one best option
Jan 19, 2017
Shady company
I applied for a secured credit card with maximum limit ($3000). They first charged my debit card before even starting the application process. They charged me on the same day when I applied.
Two days later, I was asked (via email) to submit additional documents. So, I uploaded scanned images of my current driver’s license and social security card. Their application did not have any option to include a different mailing address so along with the documents they requested, I also asked them to send me the card on my mailing address (PO Box) since I fear losing it on my physical home address (We receive tons of junk mail).
They sat on my documents again for another day before responding. Why shouldn’t they? They already took my money. The next day, I receive the exact same automated email asking for the same set of documents. Since I had already uploaded the documents, I called them back to inquire what they need this time. I was told that since I had not included the PO Box in my original application, I will now need to submit a letter from the post office stating that the PO Box belongs to me. This was ridiculous!
While I was going through this headache with them, I had also applied for a CapitalOne secured card and they were honest enough not to charge my deposit before going through the application with me. They must have done the credit check and although my credit was in 400s, I was approved and they already mailed me my card to my mailing address without requiring any letter from the post office.
Now, I am in the process of trying to get my money back. While talking with their customer service rep, I was promised a call back from a supervisor. No one called me back. Two days ago, I was told that my refund would show up in my back and it has been more than two days, I don’t see a refund. I am contacting my bank to dispute the charge.
Stay far away! I should have read all the negative reviews for this company before applying.… show more
I applied for a secured credit card with maximum limit ($3000). They first charged my debit card before even starting the application process. They charged me on the same day when I applied.
Two days later, I was asked (via email) to submit additional documents. So, I uploaded scanned images of my current driver’s license and social security card. Their application did not have any option to include a different mailing address so along with the documents they requested, I also asked them to send me the card on my mailing address (PO Box) since I fear losing it on my physical home address (We receive tons of junk mail).
They sat on my documents again for another day before responding. Why shouldn’t they? They already took my money. The next day, I receive the exact same automated email asking for the same set of documents. Since I had already uploaded the documents, I called them back to inquire what they need this time. I was told that since I had not included the PO Box in my original application, I will now need to submit a letter from the post office stating that the PO Box belongs to me. This was ridiculous!
While I was going through this headache with them, I had also applied for a CapitalOne secured card and they were honest enough not to charge my deposit before going through the application with me. They must have done the credit check and although my credit was in 400s, I was approved and they already mailed me my card to my mailing address without requiring any letter from the post office.
Now, I am in the process of trying to get my money back. While talking with their customer service rep, I was promised a call back from a supervisor. No one called me back. Two days ago, I was told that my refund would show up in my back and it has been more than two days, I don’t see a refund. I am contacting my bank to dispute the charge.
Stay far away! I should have read all the negative reviews for this company before applying.… show more
09/07/17
it has been one month and no card yet <br />i think all the 5 stars reviews here are scams as well
Jan 15, 2017
Everyone please stay away from open sky. They going to steal all your money. I tried them with a $200 dollars deposit and I never spend a dime of it but I just check my balance and it says $ 96. I know my payment due date is on the 28th so I am going to call them tomorrow to get an explanation.
Jun 30, 2016
I have a open sky card for almost 2 months and they still haven't reported to the bureaus.
Jun 17, 2016
when I applied they ran out of cards to send. Then they charged me a late fee when I didn't even have the card yet. Then because of that increased my interest rate. All before I ever had the card. Once I used I paid in full the dame week by my debit card. Yet it has taken them over a week of holding funds so still cannot use. Not a good way to start this process.… show more
Jun 07, 2016
The customer service is horrible, very rude and unclear with their expections on how to use the card. They tell you different answers when you ask questions and hang up on you after your done. Your only allowed to take off 100 in one day which is stupid to me and they charge you a fee with the ATM. I will never refer anyone to this card due to the customer service they have miserable people to answer their calls… show more
Jun 02, 2016
Do not get this card they will not help your credit in fact they will ruin it had a 640 before getting this card I've made my payments weeks before the statement due date so far they have cost me 90 points off my credit score I now have a 550 also they have charged me over a hundred dollars in fees phone fees for processing payments I made weeks earlier late fees on on bills paid weeks prior to due date you can't even pay your bill without a checking account and unless you pay your bill 2 months prior to due date and contact them at least 3 times and pay a 10 processing fee then your gonna receive another 25 dollar late fee and they report to your credit bureau on the last day of the month and don't release statements till the third so they will always show late fees and payments not made every month then apply the payment after this is the worst company I have ever seen in 30 years please if you have made past credit mistakes don't make this one stay far away from this company… show more
May 17, 2016
I've had this card since November 2015 and have had no issues. I applied for the card and got approved, the card arrived in about a week and a half. I put $200 on it and i only spend 30% of it each month ($60). A week before my due date i pay $50 instead of the minimum payment. I always leave about $10 on it each month, to show the credit companies that i am utilizing the card, and that i am not dependent on the money. This is a great way to get your credit back on track, my credit has improved drastically since.… show more
Apr 14, 2016
I would love to review this card but haven't received it yet! they put my address in incorrectly and reissued a card and still have not gotten it and now they send me a bill for the annual fee on a card that I haven't even gotten yet and I can't pay because I don't have the acct # since I don't have the card and you call and get put on hold forever!
Apr 11, 2016
I applied for this card Feb 2016. I deposited $200 and it took about 5 days for the deposit to go through. I waited 2 weeks for the card, and during the wait I noticed that my credit score went up 65 points on Equifax, 51 points on Experian, and 51 points on Transunion. So far so good. Remember only utilize up to 18% and pay it off before the end of the month. Best wishes!!… show more
06/12/16
Jody, its true. there is no lie. I was in a car accident, (passenger, hired a lawyer he missed the statue of limitations, medical bills went on my credit as a result dropped me to 508) My husband added me as an authorized user and my score jumped 111 points in one day. (the minute I was added) no credit check. you score can be bumped up in a number of ways.
06/10/16
You're lying. Everyones credit score is updated on a monthly basis, depending on your credit standing. But a good credit score is built on years of responsible habits, so your score jumping drastically like that is impossible, other wise we'd all have excellent credit. Nice try
Apr 07, 2016
This card is a joke!!! I have a low credit score because I pay for everything in cash. Many years ago, I spent way to much time worrying about the money I owed and fearing it may be taken away if I could not pay. Now everything I have is paid for and I am proud of that. I always pay rent and utilities on time and drive an older car that I could afford to buy outright. I have refused to pay my hard-earned money to fees and interest rates. The whole idea that one has to already be in debt to have good credit in order obtain a home loan is ridiculous to me. That being said, I am now wanting to purchase a home. I was forced to play the game and build a credit score. I chose a prepaid card so I could use my own money, instead of "borrowing". After receiving my first bill (for the annual fee), I tried (and failed) to access my account online with my phone. After calling them, I learned one must have a COMPUTER to make an online payment. If I choose to call to make payments, I will be charged $10 each time. What??? Rip off!!! Now my credit score is even lower for opening a "new" account and I am being financially taken advantage of for not owning a computer. In this age of online phone use, this policy is unacceptable!!! I will also have to wait 6 weeks or more to receive my deposit back if I close my account. Why??? They didn't have to wait 6 weeks to receive it!!! This is why I HATE the credit game.… show more
Mar 05, 2016
STAY AWAY from this card! I have had it since Oct of 2015 payments take several days to even post to your account like a week at least! Now all of a sudden I have mysterious charges on my account from them & they can't seem to give me a straight answer! There are reputable companies out there with secured cards go for those. I was dumb enough to fall for credit karmas insisting on this one BIG MISTAKE! paying this crappy card off and closing account ASAP!… show more
Dec 16, 2015
THIS IS THE WORST COMPANY IVE EVER DEALT WITH IN MY LIFE!!! I do not have good credit and was perfectly happy with the interest rates to help build it back. I paid the 200 dollar deposit and started using the card. After the first month they said my payment was reversed because of insufficient funds(I have more than enough in my account). The next month they said the same thing and sent me a letter saying they are going to report it! So I went to my bank and had the banker confirm the right account and routing number and they still couldn't get it to work and said I had to send a cashiers check. After 3 months of dealing with this crap I decided to close my account and send them the balance. They told me I needed to send my balance of 198 to get my deposit of 200 returned. Which of course I'm going to do because I don't want anything worse on my credit. They said it would take 4 to 6 weeks for the return of my money and I was perfectly fine with that. It's been two months and I finally called to check on the status, they said they haven't refunded anything because there's a 33 cent balance on my account!!! After numerous phone calls of nobody that could help with anything I HIGHLY SUGGEST USING ANY OTHER CREDIT CARD!!!!!! PLEASE DO NOT USE THIS COMPANY!!!!!!!!!!!!!!!!… show more
Nov 04, 2015
I avoided credit cards and the entire crediting system for a few years because I was simply terrified of what I did with my credit in my youth... I went on Credit Karma and yes it was a mess. (Low 500s) I applied for the open sky card and did the 200 minimal and within 3 months my numbers were moving up... Its been less then a year but I have cracked the 580 range and just received my first unsecured card since I was in my early twenties... Open Sky works well just use it by the book and pay it every month...Only down side is it takes a weak to show a payment posted but they do post date from the time it was received. Maybe in another year I can get a home for my family but Open Sky is a good start.… show more
Oct 12, 2015
I think this Open Sky Secure card is a great deal for a secured card. There are no upfront " processing fees" and the anual rate is reasonable considering the intersest rate. Capiital one does not charge for an anual fee but they charge 7% more in interest. The fact they report to the credit beaureus is the real reason to be getting this kind of card that that is great.
Aug 31, 2015
I had this card for a year and while having the card everything was ok. I paid on time and my credit did improve. When I did finally decide that the card was no longer needed I paid the balance and waited for my deposit to be refunded. after 6 weeks I called and they said it had been mailed but to the wrong address. I had updated my address 6 months prior and was receiving statements at my new address. so BS. Ok moved on and they said they were going to send the check to my new address. 4 weeks later, no refund check. I called back, on the phone for 45 minutes to find out they had charged me a late fee for 2 months after the card was closed. Also the said unless I paid it then I wouldn't receive my refund back. BS. What choice do I have but to pay it to get my $500 back. I have to say this is the worst experience I've ever had with a Credit card. So the low annual fee and relative low APR for this type of card is not worth it. They'll rob you somehow. I'm beside myself with anger at their predatory ways.… show more
Aug 09, 2015
The annual fee on this card is lower than most for people with bad credit. It's also secured, which can be a good or a bad thing, depending on your finances. On one hand, it's nice to be able to control your credit limit, but on the other that is money out of your pocket that you may not have had. I have docked this review one star because of the amount of little "add on" fees associated with your account. There are other secured cards out there that have fewer fees. The interest rate sucks, but thats to be expected. As with all secured cards, there is no credit check. Your credit is the secured deposit that you put down. I do like the unique feature that if you put down $200, you get a $400 limit. That is a bit different. Overall, this card is not a bad deal for someone with bad credit, but there are better ones out there, so make sure you shop around.… show more
Jul 14, 2015
I really liked having to put down a set amount of money to set my limit. It made me feel secure in the aspect that I wouldn't overspend since this was my first credit card. It's really great for people who haven't had a credit card before and is fairly simple to set up. Basically anyone can get it since they don't require a credit check so that was a big plus for me at the time since I had no credit at all. The only thing I don't like is all the extra little fees that tack on, like $25 to deposit money. It adds up quick but if you don't plan to use it often then it's a good card to have.… show more
Jun 30, 2015
I obtained an Open Sky Secured Visa Card during college to help build up my credit. The card was easy to get because there is no credit check, however you have to put money down in order to get a line of credit extended. Compared to other cards, like the Capital One Platinum Card, the Open Sky Visa really does not offer much. While it is easy to get, there seems to be an extra fee involved in just about everything. You have to pay $25 each time you add to the deposit and there is an extra annual fee to the card as well. It seems they try to charge you a fee for everything related to the card. However, the card does have a pretty fair interest rate compared to other similar cards. Overall, I'd say this card is decent for those trying to build up their credit but to be careful of all the extra fees and charges you can easily accumulate.… show more
May 23, 2015
Overall not too bad, the no credit check definitely made it easier to handle since inquiries can really add up. It took them a while to take the funds for the collateral account, and then about two weeks for the card to arrive, but I was able to use it the same day it arrived. I had absolutely no problems with the card until I noticed that they were not reporting every month as advertised, they would often go several months without reporting. I made a major purchase with my card, which didn't use more than 10% of my limit, however when I tried to charge $140 to the card after paying off the balance in full, I was declined. When I called their customer service I was told very rudely "You just made a payment and it hasn't processed on our end yet" even though the payment was made 5 days prior to the new charge attempt. I blew it off and stopped paying through them and started using my banks bill pay. No issues after doing that. I later moved, I submitted a change of address with the USPS and changed my address with OpenSky, however for several months I was still receiving my paper statement with the yellow USPS sticker for forwarded addresses on it. I called several times and they assured me that my address change was successful. It still hasn't corrected over a year later. At a separate point, I had noticed I had almost forgot to pay my bill, it was due that day, so I called them after several failed attempts at logging into their system on my phone, to make a payment since we were without power, I explained to the lady on the phone the circumstances and she advised me there was a charge for taking payment over the phone. I again explained I couldn't access the portal through my phone and I didn't have power, she requested I try to access the portal again once we had power, I explained that someone struck a utility pole with their car and several areas of town were without power and the electric company had no idea when power would be restored. It took 15 minutes with her, and a talk with her supervisor to waive the charge and take my payment. Several months later I tried to use my card after not using it for two months, it was declined. I hadn't missed a payment and was very confused, so I called and spoke with customer service who told me that they tried to send me mail and it was returned, they sent it to my previous address, even after assuring me that my change of address was successful. It took nearly 45 minutes to clear up the mess and then only to find out that they did have the correct address. As of today, I called and spoke with someone, I asked a very simple question "Who do I talk to about closing my account" my answer was, and I'm quoting exactly, "You need to call Open Sky on Tuesday and talk to them." I got very concerned, I dialed the number on the back of my card, gave personal information to the rep, and verified my card number with her. I asked her "I have to call Open Sky? What do you mean? Who are you?" my response was exactly "I'm Patty, in Card Member Services, thats who the HELL I am." I asked her to verify her name, and then asked to speak with her supervisor, she immediately disconnected the call. When I called back in, the gentleman I spoke with claimed to be a supervisor, though I severely doubt he was, he assured me he sent an email to this Patty persons supervisor explaining what had happened. I have never been treated so poorly as a customer, or had so many issues, I immediately applied for a new secured card through my bank and will never suggest this company to anyone. They are just fine if you don't move, don't use your card often, or never need to call customer service as long as you're a card holder, other than that I wouldn't let my own mother accept this card, now my mother in law, I would give it to her with a big bow on it.… show more
May 14, 2015
The Open Sky Secured Visa Credit Card is a great choice for anyone who is beginning to build up their credit, for instance a college undergraduate or someone who has worked with paper most their lives. It has an interesting way of working things with they way it determines your credit line which makes it very easy for someone new to play it safe and build that credit. Compared to other credit cards it doesn't offer the best terms and rates, especially with the $25 deposit fee, but if you are not going to use it much then I highly recommend it.… show more
Apr 27, 2015
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.… show more
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.… show more
Apr 16, 2015
if I put $200 down for the deposit do I have $400 a credit limit
09/06/15
They take the 29$ annusl fee off the top.so if you give them 200$ you get a card eith 171$ balance.
05/27/15
Your credit limit will be equal to the security deposit. So, if put down $200, then your credit limit will also be $200.
Apr 09, 2015
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.… show more
Mar 25, 2015
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.… show more
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.… show more
Mar 10, 2015
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!… show more
Feb 23, 2015
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.… show more
Jan 28, 2015
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… show more
Jan 13, 2015
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!… show more
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!… show more
Dec 27, 2014
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!… show more
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!… show more
Dec 11, 2014
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.… show more
Dec 03, 2014
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!… show more
Oct 06, 2014
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.
Sep 18, 2014
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!… show more
Sep 12, 2014
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.… show more
Sep 11, 2014
The most frustrating about this card is the website. It is completely outdated and not at all interactive, very disappointing.
Aug 13, 2014
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).… show more
WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not issuer’s responsibility to ensure all posts and/or questions are answered.
Last updated on: June 15th, 2020 at 04:37
Related Credit Cards
If you are interested in the OpenSky® Secured Visa® Credit Card, check out the following credit cards as well:
Related Credit Card Categories
OpenSky® Secured Visa® Credit Card is related to the following categories:
WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not issuer’s responsibility to ensure all posts and/or questions are answered.
Offer last updated: Jun 15th, 2020 at 04:37 ET