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Apply online for OpenSky® Secured Visa® Credit Card
About Our Ratings
Credit Needed
Fair/Poor/Bad/No Credit

OpenSky® Secured Visa® Credit Card Review

Pros & Cons

  • There’s no credit check needed as part of the application process, so applying for this card should be quick and painless.
  • Cardholders can take advantage of a wide range of online and e-newsletter financial literacy tools, like understanding your credit score and managing debt.
  • 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.

Top Features

Purchase APR
18.39% Variable
Annual Fee
$35

Full Review

Curtis Arnold Editor-in-chief

OpenSky® Secured Visa® Credit Card Essentials

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.

OpenSky® Secured Visa® Credit Card’s best features:

  • Credit lines from $200 - $3,000, based on the amount of your security deposit
  • Online credit education and newsletter for cardholders
  • Easy 4-step application process: no credit check or checking account required
  • Monthly reports to all three credit bureaus
  • Interest-free grace period for first billing cycle
  • Receive protection against fraud with Visa Zero Liability policy

What Our Editors Like Most About the OpenSky® Secured Visa® Credit Card

With the OpenSky® Secured Visa® credit card, you determine your line of credit based on the 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. Credit lines go up to $3,000, but you can increase your credit line later to $5,000 with the required deposit. OpenSky® accepts security deposits via debit card, wire transfer, check or money order. The amount is fully refundable.

The no-credit-check policy for OpenSky® makes it simpler for people who have bad credit to repair it. The company reports monthly to all three major credit bureaus, so pay your credit card balance on time and it'll boost your score, making it easy to apply for an unsecured card down the road.

OpenSky® doesn't charge interest on purchases during the first billing cycle, and the Visa Zero Liability policy protects cardholders against fraud. If any unusual activity occurs on your account, Visa will contact you to verify its authenticity. OpenSky® offers fraud protection, 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.

Potential Downsides of the OpenSky® Secured Visa® Credit Card

One drawback for the OpenSky® Secured Visa® credit card is its $35 annual fee. Competitors, such as the First Progress Platinum Elite MasterCard® Secured credit card, have a lower annual fee ($29) or no annual fee like the Capital One® Secured Mastercard®.

You also don’t get any rewards or sign-up bonuses with the OpenSky® Secured Visa® credit card, but that’s to be expected since this card is more about function than fashion. If you plan to use this card abroad, be warned, there is a 3% foreign transaction fee.

How the OpenSky® Secured Visa® Credit Card Compares to Other Secured Credit Cards

OpenSky® Secured Visa® Credit Card vs. Capital One® Secured Mastercard®

Like OpenSky®, the Capital One® Secured Mastercard® reports to all three credit bureaus. However, Capital One® doesn’t have an annual fee. The security deposit terms also are better with Capital One® than OpenSky®. Depending on your creditworthiness, pay a refundable security deposit of $49, $99 or $200 and get approved for a credit line between $200 and $3,000. The lower the deposit, the lower your credit limit.

With OpenSky®, your credit line is determined solely based on your deposit amount, which is a conundrum for cardholders who need access to credit, but must have cash on hand to get it. If you’re looking for a secured card with less red tape, the Capital One® Secured Mastercard® is a better option.

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

There is no annual fee on Citi® Secured Mastercard® as compared to the $39 annual fee for the OpenSky® Secured Visa® credit card. Citi® also 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 a $0 liability guarantee if fraudulent charges are made on your account, and worldwide car rental insurance so you can deny the insurance the rental company offers and save a few extra bucks. The Citi® Secured Mastercard® comes with roadside assistance and trip cancellation/interruption protection that gives you up to a $1,500 reimbursement each year if you paid for your trip with your card. If you want a few more perks with your secured card, then the Citi® Secured Mastercard® is right for you.

Who Should Get This Card?

Secured credit cards are a great tool for anyone just entering the credit card world, or looking to repair their existing credit history. This card requires potential cardholders to have the cash on hand to open a line of credit, which helps curb overspending. You’ll only get what you give, which is a great credit — and life — lesson everyone should learn.

This page was last updated on November 10, 2017

This card compared to other bad credit cards

Purchase APR
18.39% Variable
23.99% Variable 
23.9% Fixed 
Annual fees
$35
$0
$35 - $99 (Dependent on credit worthiness)
CardRatings.com Editorial Staff

OpenSky® Secured Visa® Credit Card details

Balance Transfer Intro APR
N/A
Balance Transfer Intro Period
N/A
Purchase Intro
APR:
N/A
Purchase APR
18.39% Variable
Annual Fee
$35

What Capital Bank says about this 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.

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Apply online for Discover it® Secured Card - No Annual Fee

Discover it® Secured Card - No Annual Fee

  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • Your Secured Credit Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
  • We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
  • Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases.
  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
  • New! Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
Credit Needed:
Please refer to issuer's website
Apply online for Milestone® Unsecured Mastercard®

Milestone® Unsecured Mastercard®

  • Quick pre-qualification available with no impact to your credit score
  • Protection from fraud, if your card happens to be lost or stolen
  • Choose your custom card design - Free
  • Free online account access
  • Easy pre-qualification process with fast response
  • Accepted at over 35 Million Locations Worldwide!
  • Previous bankruptcy OK
Credit Needed:
Bad/Poor