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finder.com’s rating: 3.8 / 5.0
★★★★★
$35
Annual fee
18.14%
Purchase APR (variable)
300
Recommended credit score
Review by
Megan Horner is the banking and credit cards Group Publisher at Finder. She's passionate about helping you find the best credit cards and bank accounts 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. Before working at Finder, Megan worked at Credit Karma and QuinStreet.
The OpenSky® Secured Visa® Credit Card has a $35 annual fee and comes with a 18.14% 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.
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.
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:
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.
If this card isn’t right for you, compare other credit cards on the market. Find a card that meets your financial needs by considering factors such as the card’s annual fee, its APR and rewards.
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.
★★★★★ — 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.
11 Comments
June 22, 2019
Is this facility available In South Africa??
June 23, 2019
Hi Llewellyn,
Thanks for reaching out to Finder.
OpenSky secured Visa credit card is being offered by Capital Bank which is a privately held bank in Washington, D.C. so it is only available in the US as of this time.
If you are looking for a secured credit card, you may want to check with your local banks and/or financial institutions in South Africa to see if they offer one.
I hope this helps.
Cheers,
Charisse
June 10, 2019
Is the deposit refundable?
June 13, 2019
Hi Elle,
Thanks for getting in touch!
Yes, the deposit is refundable. As it says on the page – your credit line depends on the cash you put down as a security deposit. So, if you default on payments, the bank uses that security deposit as collateral. As long as you pay on time, you’ll get your deposit back when you close the account.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Best,
Nikki
May 14, 2019
Haven’t received my card yet. Checking status.
May 14, 2019
Hi Jo,
Thank you for getting in touch with Finder.
If you apply with OpenSky online, you will 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. If you are unsure if your application was approved, kindly contact their support team to check your application status.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
March 10, 2019
Open Sky Card Services does what they say they will do. If you apply and fund your secured Card, they will give you a secured credit card without checking your credit, and as long as you pay your minimum payment every month and keep your balances low your credit score will improve over time. I opened this card because I needed to start improving my credit score and aside from one of my payments being declined through user error (IE: don’t try to pay 77 cents from your PayPal balance towards your credit card bill, Paypal will not approve transfers of less than $1) I have been able to use the card to purchase what I need to and pay off the balances. Open Sky’s $35 annual fee is the most reasonable for people who have a poor credit score. Other Secured cards like First Premier have a $25-$95 processing fee, a $75-$125 first-year annual fee and an additional $120-$174 in fees each year thereafter, and a 36% regular APR. Open Sky’s APR is roughly 19.24%.
March 6, 2019
Hi,
I have applied and gave $ before but had trouble taking photos and other info needed to finish processing. Can I send in the mail this info if once I apply and where do I send it and what info would be needed for my information to make sure it reaches the correct place so it would get process?
March 6, 2019
Hi Henry,
Thank you for getting in touch with Finder.
You do not need to send or upload photos when applying for an OpenSky credit card. Kindly click on the Apply now button and you’ll be redirected to their official page to start your online application. The application page will just require you to enter all the numbers of the requirement documents like your SSN.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni