What's good
- No credit check to apply and find out instantly if you are approved.
- OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
- Get considered for a credit line increase after 6 months, with no additional deposit required
- You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
- Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card
- Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
- Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
- Easy application, apply in less than 5 minutes right from your mobile device
- Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
What's bad
- Annual fee
- No rewards
- No signup bonus
- Foreign Transaction Fee
Am I eligible?
To get this card, you must also:
Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.
What the Critics Are Saying...
- Emily Sherman, CreditCards.comWith a relatively low APR and annual fee, the OpenSky Secured Visa credit card is a great card for those with bad to fair credit. You won’t earn any rewards, but you’ll keep additional charges to a minimum, and you can qualify for the card without a credit check.
- Garrett Yarbrough, BankrateThe OpenSky Secured Visa Credit Card is a solid choice for rebuilding your credit. The card carries lenient credit requirements, and in some cases, you can be approved for this card with no credit history. While there are secured cards with lower fees, more significant perks and alluring rewards, th...
- MarketProSecureThis is a slick, useful, and flexible card that has massive credit building potential for all of your credit repair needs – you don’t even need to have a prior bank account to apply. Since it doesn’t make a hard inquiry into your credit score, you can rest assured you won’t damage it further with an...
- BestCardsOverall, there may be better secured credit card offers available elsewhere, but for those who need help with their credit and don’t want the hassle of a credit check – or those who are their wits ends – the OpenSky credit card is a great option to consider.
- Jennifer Doss, CardRatings.comThe OpenSky® Secured Visa® Credit Card is a good credit card. Secured credit cards, in general, are great tools for anyone just entering the credit card world, or looking to repair their existing credit history. The OpenSky® card requires potential cardholders to have the cash on hand to open a line...
Details
| Interest Rates | |
|---|---|
| Regular APR Interest Rate |
18.14% (Variable) This APR will vary with the market based on the Prime Rate. |
| Balance Transfer Interest Rate |
Balance Transfers Not Allowed |
| Cash Advance Interest Rate |
18.14% (Variable) This APR will vary with the market based on the Prime Rate. |
| Rates & Fees | |
| Annual Fee | $35.00 |
| Balance Transfer Fee | |
| Cash Advance Fee |
$6.00 Or 5% of the amount of each cash advance, whichever is greater. |
| Foreign Transaction Fee |
3% Of each transaction in U.S. dollars. |
| Over Limit Fee | $0.00 |
| Late Payment Fee |
$38.00 Maximum |
| Promotions | |
| Sign up bonus | No |
| Rewards | |
| All Purchases | No |
| Restaurants | No |
| Gas | No |
| Groceries | No |
| Hotels | No |
| Travel | No |
| Pharmacy | No |
| Bills | No |
| Features & Benefits | |
| Additional Card Holders | Yes |
| Travel Accident Insurance | No |
| Car Rental Insurance | No |
| Car Rental Discount | No |
| Extended Warranty | No |
| Purchase Protection | No |
| Zero Liability | Yes |
| No Foreign Transaction Fees | No |
| Emergency Assistance | No |
| Concierge Service | No |
| Price Protection | No |
| Fraud Protection | Yes |
| Free Credit Scores | No |
| Wireless Payments | No |
| Virtual Cards | No |
| Eligibility | |
| Minimum Security Deposit | $200 |
| Minimum Age | 18 |
| Minimum Personal Income | |
| Temporary Residents | No |
| More | |
| Additional comments |
*View the Cardholder Agreement |
| Terms & Conditions | Official Terms & Conditions |
| Suggest a correction |
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Information in this article is believed to be accurate at the time it was written, but terms and conditions may change at any time. All information is presented without warranty or guarantee. Please verify all terms and conditions of any credit card prior to applying.
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