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OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card review

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What Capital Bank says about this card

OpenSky® Secured Visa® Credit Card
  • 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.)
  • OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.
  • *View our Cardholder Agreement located at the bottom of the application page for details of the card.

With no credit check and an easy sign-up process, the OpenSky® Secured Visa® Credit Card makes it simple to build credit, even if you have a shaky or non-existent credit history.

The OpenSky® Secured Visa® Credit Card has many benefits including an easy four-step application process with no credit check, a refundable opening deposit, and the ability to increase your credit limit after opening your account. The no-credit-check policy for this card makes it simpler for people who have bad credit to repair it.


The OpenSky® Secured Visa® Credit Card reports monthly to all three major credit bureaus, so when you pay your credit card balance on time and in full it can help to boost your credit score in the long term.

The OpenSky® card is a legitimate Visa® credit card that comes with features like the Visa® Zero Liability policy. This feature protects cardholders against fraud. If any unusual activity occurs on your account, Visa® will contact you to verify its authenticity.

In addition to fraud protection, OpenSky® also provides financial literacy tools in the form of online education and a regular newsletter that covers topics such as understanding your credit score, building credit and debt management.

CardRatings Editor's Analysis: Pros & Cons

  • There’s no credit check needed as part of the application process, so applying for this card should be quick and painless.
  • OpenSky provides credit tips and a dedicated credit education page on their website to support you as you work on your credit.
  • OpenSky® submits monthly reports to all three credit bureaus, so you can boost your credit score if you use the card wisely and pay the bill on time.
  • This secured card comes with a $35 annual fee, in addition to the needed security deposit to establish your line of credit.


With the OpenSky® Secured Visa® Credit Card you determine your line of credit based on the opening security deposit amount. OpenSky® essentially asks cardholders to make an initial investment in themselves — similar to how a bank asks you to make a down payment to qualify for a home loan. Make a deposit of $500 and that’s your credit limit (deposits can be as low as $200). Credit lines go up to $3,000 with approval from Capital Bank. OpenSky® accepts security deposits via debit card, wire transfer, check or money order. 

There are several benefits to the way that OpenSky® treats the initial deposit to open an account. First, the initial deposit secures the credit account in lieu of a credit check. So, if you have a poor credit history or even no history at all, you can still get a credit card and use it right away to start improving your score. The amount of the deposit you make when opening your account is important, as it determines what the initial credit limit is on the account.

The initial opening deposit can be as little as $200. Whatever the amount of the initial deposit, another large benefit of the OpenSky® Secured Visa® Credit Card is that the initial deposit is fully refundable. The deposit is held in an FDIC-insured account, with the full amount of the deposit returned to you when the account is closed. It is similar to a security deposit that you make when renting an apartment that is returned in full at the end of a lease.


One of the downsides to some secured credit cards is that they don’t have the ability to increase the credit limit once the account has been opened for the card. For instance, if you opened one of those cards with a $200 limit, you would be locked in to that credit limit for the time that you own the card. As many people use unsecured credit cards to improve their credit score and build a credit history, having a locked in credit limit can be a downside to some cards. However, with the OpenSky® Secured Visa® Credit Card you can increase your credit limit after opening, up to $5,000 with the required deposit.

Top Features

Regular APR Annual Fee
17.39% (Variable) $35


In addition to having an initial deposit to open, many secured credit cards have an accompanying annual fee to maintain the card. As secured credit cards are geared towards individuals that have limited or poor credit histories, the trade off to have no credit check normally comes with these fees.

The OpenSky® Secured Visa® Credit Card comes with a $35 annual fee, in addition to the needed security deposit to establish your line of credit. However, this $35 fee is relatively low on the spectrum of unsecured credit cards.


One drawback for the OpenSky® Secured Visa® Credit Card is its $35 annual fee. This is not the highest on the market, however, it’s something to consider. You also don’t get any rewards or signup bonuses, but that’s to be expected since this card is more about function than fashion.

Also, this card does have a foreign transaction fee of 3%, so it is wise to not use it abroad as you can quickly accumulate fees when making purchases internationally.


OpenSky® Secured Visa® vs. ABOC Platinum Rewards Mastercard®

The ABOC Platinum Rewards Mastercard® Credit Card is quite different from the OpenSky® Secured Visa® Credit Card.

First of all, the ABOC Platinum Mastercard® earns credit card rewards points while the OpenSky® card does not. It earns 5X points on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive, and 1X point on all other purchases.

Also, with the ABOC Platinum Mastercard®, cardholders can enjoy 0% intro APR period on purchases for 12 months (then 12.90% - 22.90% Variable).

The ABOC Platinum card does not have an annual fee, and it is not a secured credit card so you will not have an initial deposit to open the account unlike the OpenSky® Secured card which requires a minimum $200 deposit. In addition to having no annual fee, the ABOC Platinum also doesn't charge foreign transaction fees, making it a good international travel companion.

Lastly, the ABOC Mastercard® is not made for those with poor or no credit; it requires credit in the excellent range for approval.

OpenSky® Secured Visa® vs. Citi® Secured Mastercard®

(This card is not currently available on CardRatings)

The Citi® Secured Mastercard® is similar in many ways to the OpenSky® Visa®. It is a secured credit card that allows you to determine your credit limit with the amount of the initial deposit with a minimum of $200. Citi® asks applicants to make a security deposit that will be equal to their credit limit. Credit lines for the Citi® Secured Mastercard® range from $200 to $5,000.

The Citi® card also has $0 liability on unauthorized charges made on your account.

Unlike the Opensky® card, the Citi® Secured Mastercard® has no annual fee, but like the OpenSky® Visa®, it also reports your credit history with monthly reporting to all three major credit bureaus.

OpenSky® Secured Visa® vs. Green Dot primor® Visa® Gold Secured Credit Card

(This card is not currently available on CardRatings)

The Green Dot primor® Visa® Gold Secured Credit Card is similar to the OpenSky® Secured Visa® in that it has a simple application process and allows you to choose your initial credit limit based on your opening deposit.

It has a slightly higher annual fee of $49, but the 9.99% (F) APR on purchases is very competitive.

There is no minimum credit score requirements, a fast and easy application process, and no processing or application fees. And your payment and usage history gets reported to the three major credit bureaus, which can help you build a positive credit file over time.


The 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 of credit with an initial deposit, but this deposit is fully refundable when the account is closed.

The $35 annual fee, lack of credit card rewards earning, and foreign transaction fees make it a card that isn’t for everyone; however, if you are looking to build or repair your credit, the OpenSky® Secured Visa® credit card could be a great option for you.

OpenSky® Secured Visa® Credit Card compared to other bad credit cards

Card Name
Regular APR
Annual fees
Upgrade Card
Apply online for Upgrade Card
6.99% -29.99% Fixed 
Credit One Bank® Unsecured Visa® with Cash Back Rewards
Apply online for Credit One Bank® Unsecured Visa® with Cash Back Rewards
17.99% to 23.99% Variable 
$0 - $99
Deserve Edu
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18.74% Variable 

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