Wells Fargo vs. OpenSky – Secured credit cards compared | finder.com

Wells Fargo Secured vs. OpenSky® Secured

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Are you looking for a secured card with a high credit limit or no credit check?

The Wells Fargo Secured Visa® Card and the OpenSky® Secured Visa® Credit Card are both middle-of-the-road cards that could be suitable for someone trying to establish or rebuild their credit.

While the Wells Fargo Secured Visa® Card comes with a higher credit limit and a cheaper annual fee, the OpenSky® Secured Visa® Credit Card boasts availability for people who have no credit background whatsoever.

Wells Fargo Secured Credit Card

Wells Fargo Secured Credit Card

OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card

Welcome bonus

Earn cash back after spending $0 in the first days

Earn points after spending $0 in the first days

Rewards - -
APR (Annual Percentage Rate)

20.74% Variable

18.89% Variable

Annual fee $25 $35
Balance transfers

APR: 20.74% Variable

Fee: Either $5 or 5%, whichever is greater

APR: Variable

Fee: Either $0 or 0%, whichever is greater

Cash advance

APR: 25.74% Variable

Fee: 5% of the cash advance
(mininum: $10)

APR: 18.89% Variable

Fee: 5% of the cash advance
(mininum: $6)

Foreign transaction fee 3% + $0 flat fee 3% + $1 flat fee
Late payment fee $37 $27
Additional cardholder fee $0 $0
Interest free period 25 days 25 days
Minimum interest $1 $1
Minimum credit 300
Card type Visa
Visa
Learn more

Read review

Which card should you choose?

Wells Fargo Secured Credit Card

Wells Fargo Secured Credit Card

  • Establish credit
  • No US residency required
  • $10,000 credit limit

OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card

  • Rebuild credit
  • Easy application
  • No credit history required

The Wells Fargo Secured Visa® Card’s annual fee is $25 — which is cheaper than most other secured credit cards on the market. In order to be approved, you’ll need to front a $300 minimum security deposit. And if you’re looking for a card to build credit, you’ll be happy to know that all of your Wells Fargo Secured Visa® Card activity will be reported to the three major credit bureaus.

The OpenSky® Secured Visa® Credit Card is a great contender if you’ve never had any form of credit in the past. Compared to the Wells Fargo Secured Visa® Card, this card offers a lower APR at 18.89% variable and a smaller minimum security deposit of $200. To make the application process easier, you can use a debit card, wire transfer or money order to fund the security deposit for your OpenSky® Secured Visa® Credit Card.

What’s next?

Does the Wells Fargo Secured Visa® Card or the OpenSky® Secured Visa® Credit Card seem like a match for your wallet? If you said yes, then apply for the secured credit card that’s most suitable for your needs.

However, if you’re not too crazy about either card, compare features of other secured cards out there until you find the one that’s right for you.

Name Product APR (Annual Percentage Rate) for Purchases Welcome Bonus Interest Free Period
9.99% fixed
Up to 25 days
Low fixed interest rates with no penalty rate.
10.24% variable
Up to 25 days
18.89% variable
Up to 25 days
A secured Visa® credit card that helps you build your credit quickly.
9.99% fixed
Up to days
This secured card can help you rebuild your credit with an initial deposit of $200 to $1,000.
20.24% variable
Up to 25 days
17.99% fixed
Up to 25 days
Borrow up to $10,000 and get your credit score back on track.
14.24% variable
Up to 25 days
First Latitude Platinum MasterCard® Secured Credit Card
First Latitude Platinum MasterCard® Secured Credit Card
26.24% variable
Up to 25 days
13.74% variable
Up to 21 days
Created to help you establish or rebuild credit.
17.99% variable
Up to 24 days
Earn SKYPASS miles while building your credit history in the United States.

Compare up to 4 providers

Our guide to secured credit cards

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