Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
OpenSky® Secured Visa® Credit Card review
A solid secured card with no credit check and a low annual fee.
finder.com’s rating: 3.8 / 5.0
★★★★★
- Get this card if you had credit difficulties in the past or if you have no credit history.
- Pick something else if you want an unsecured card or you don’t want to pay an annual fee.
- Apply with no or poor credit.
$35
Annual fee
17.39%
Purchase APR (variable)
300
Recommended credit score
Review by
Megan Horner
megan.horner@finder.comMegan Horner is the credit cards publisher at Finder. She's passionate about helping you find the best credit cards to meet your financial needs — whether that's earning great rewards or improving your credit score. Megan's expertise has been spotlighted on Lifehacker, CreditCards.com, American Banker and featured on news broadcasts across the country.
Expert review
The OpenSky® Secured Visa® Credit Card has a $35 annual fee and comes with a 17.39% variable purchase and cash advance APR — a lower interest rate than you’ll find with most other secured cards. You can open an account with a deposit between $200 and $3,000, which will serve as your credit limit.
What makes this card really stand out is its consumer friendliness. On top of that, it doesn’t check your credit history when considering your approval and carries a low annual fee. This makes it a great choice for those with poor credit and those with no prior credit history, or those who simply may need a bit of breathing room after opening the account.
Like most secured cards, the bank will cover any account defaults with your security deposit. But the OpenSky® Secured Visa® Credit Card allows greater control over your credit line compared to many secured cards, leading us to rank this card on our Best of 2020 list.
Finder experts pick OpenSky® Secured Visa® Credit Card as a 2021 best product for credit cards.
How to apply for the OpenSky® Secured Visa® Credit Card
- Click Apply now.
- Fill out all of the required information.
- Read through and accept the terms and conditions. Click Submit.
- You will be notified via email that your application has been sent.
What credit score do I need?
You can apply with a poor credit score or with no credit history. Capital Bank won’t do a credit pull, but you’re not guaranteed approval just by applying.
What should I know before I apply?
To apply for the card, you must be at least 18 years old and a US resident.
When you fill out the application, you’ll need to provide information such as:
- Your name and contact details.
- Social Security number and date of birth.
- Your annual income and monthly housing payment.
- An ID, such as a passport or driver’s license.
- Deposit information.
How long will it take to get my OpenSky® Secured Visa® Credit Card?
You’ll get a decision on your application within a few minutes. Once approved, expect your card to arrive in the mail within seven to 10 business days.
Card benefits
- Build your credit. Your card activity is reported monthly to the three major credit bureaus — TransUnion, Experian and Equifax. This means you can quickly build credit when you spend responsibly and pay your balance in full each month.
- No credit check. There’s no pull on your credit when you apply, so you don’t have to worry about it affecting your credit score. The issuing bank, Capital Bank, only uses your ID during your application to confirm you are who you say you are.
- Credit limit. Your deposit sets your credit line, which can be from $200 up to $3,000.
- FDIC insured deposit. Get peace of mind, knowing your security deposit is FDIC insured.
- Visa card. Get all of the standard Visa benefits, such as fraud protection and acceptance worldwide.
- Email alerts. Sign up for alerts to get notified when payments are due or set up automatic payments online.
What to watch out for
- Annual fee. The card comes with a $35 annual fee, charged to your balance as soon as you receive the card. This reduces your available credit limit until the fee is paid.
- Foreign transaction fee. Every time you use your card when traveling abroad, you’ll pay an additional 3% of the transaction. That means $1,000 worth of purchases cost $30 in fees — nearly the cost of your annual fee.
- Expedited shipping fee. If you want to get the card as fast as possible, be ready to pay a one-time $50 fee.
Compare similar secured cards
Bottom line
This is a strong card for people with very little credit who want to rebuild their credit score. Since there’s no pull on your credit, the chances are high that you’ll be approved if you can show that you can afford the payments. Pay on time and watch your utilization levels and you’ll soon build your credit.
If you’re still unsure if this is the card for you, be sure to compare other secured credit card options and find the right one for you.
Frequently asked questions
Credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates credit cards to determine their value against similar cards on the market.
We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.
