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Review

2020 Review: OpenSky® Secured Visa® Credit Card – No Credit Check Card

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By Evan Zimmer Apr 20, 2020 | Updated Jun 15, 2020
Our rating
Min. credit level: Limited Credit History
Annual Fee: $35
Regular APR: 17.39% Variable

OpenSky® Secured Visa® Credit Card

Our rating
Limited Credit History Min. credit level
Apply Now Jump to Alternatives

Our Rating: 2 Out of 5 Stars

We give the OpenSky® Secured Visa® Credit Card two out of five Stars. While it’s only used to build up credit, and is easily accessible, it offers little else.

Why We Like It

  • No credit check required
  • Security deposit of $200 to $3,000 provides a nice range for a credit line
  • Can fund the security deposit without a bank account

Why It Could Be Better

  • Has an annual fee
  • No credit monitoring benefits (or any other perks)
  • No rewards
  • No upgrade path to an unsecured card
  • Reports of poor customer support and slow payment processing services

OpenSky® Secured Visa® Credit Card

Our rating
Min. credit levelLimited Credit History
Details
Annual Fee$35
Regular APR17.39% Variable
Apply Now

securely on the issuer's website

  • 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.

The one and only goal of the OpenSky Secured Visa is to help build your credit up. What’s rare here is that Capital Bank, the issuer, won’t do a credit check, so just about anyone can be approved.

You’ll be required to make an initial deposit of anywhere from $200–$3,000, and the amount you choose will determine your credit limit. You’ll be able to request an increase in credit limit after showing responsible use, and your deposit is refundable after you close the card.

You’ll receive basic Visa benefits, but there is no rewards program and an annual fee of $35.

There isn’t much to this card, and you may have better options available. But if you’ve been having trouble getting approved, read on to see if this is your way back into positive credit.

Insider tip

Capital Bank is not the same as Capital One, an issuer that provides a wide selection of credit cards for travel, cash back, and building credit.

Insider Advice: Getting the Most Out of Your Card

  • Practice responsible use: Make sure you’re making all your payments on time in order to build good habits and improve your credit.
  • Be aware of the initial deposit: Like most secured cards, you’ll be required to make a deposit which will determine your initial line of credit. In this case, it will be $200–$3,000.
  • Deposit as much as you’re able: A higher deposit will get you a higher credit line, and you’ll be less worried about going past your limit if it’s as high as you can manage. This can also help your credit utilization.
  • Reach a higher credit limit: After displaying responsible card activity you’ll be able to apply for a higher credit line (you’ll need to provide an additional security deposit).
  • Get your deposit back and apply for a better card: Once your credit is in a better place and you’re ready to move on to bigger and better cards, you can pay off your balance and close the OpenSky card to get your initial deposit back. You’ll likely qualify for credit cards for fair or average credit, or even good credit.

Security Deposit

Because this is a secured card, you’ll be required to make a refundable security deposit. This will determine your initial line of credit.

The minimum deposit you can make is $200, up to a maximum of $3,000. The money is placed in an FDIC-secured account that doesn’t earn interest. The main point of this card’s deposit, according to the issuer, is to ensure you can open an account without having to go through a credit check. Most secured cards require a credit check however, so this card stands apart in that respect.

We recommend you put down as much as possible, because having a higher credit line is much more useful. For one, you’ll worry less about declines when making larger purchases knowing you have a sizable line of credit backing you up. For another, having that higher line can help keep your credit utilization low. Lower utilization can lead to less of a negative impact on your credit scores.

You don’t have to make the deposit right when you finish your application, but you will need to before Capital Bank will send you the card.

Unlike most secured cards, you don’t need a bank account to pay the security deposit. You can pay by:

  • Debit card
  • Money order
  • Certified check
  • Money transfer through Western Union.

After having the card for some time and showing responsible use, like consistent on-time payments, you can apply for a higher credit line. You need to deposit more to increase your credit limit, however.

You’ll get your deposit back after you pay off any balances and close your account.

Insider tip

There is no option to upgrade to an unsecured card, like some issuers (such as Discover and Citi) provide.

The Benefits

Cardholders will only get the most basic of Visa card benefits. But the point of secured cards is not to get strong benefits, it’s to get your credit to a place where you can apply for better cards that do have good perks and benefits.

The card issuer states the OpenSky Secured Visa comes with “all the benefits of a Visa card,” but doesn’t explicitly list those benefits aside from mentioning fraud protection and global acceptance. So it’s hard to say which benefits you’ll specifically receive, but it’s safe to assume they won’t be anything beyond a very basic level.

The Terms & Fees

Purchase APR Balance Transfer APR Cash Advance APR
17.39% Variable None 17.39% Variable
Annual Fee Foreign Transaction Fee
$35 3%
Balance Transfer Fee Cash Advance Fee
See Terms $6 or 5% of the amount of each Cash Advance; whichever is greater.
Penalty APR Late Fee Returned Payment Fee
None Up to $38 Up to $25

There’s really not much here aside from the annual fee. You won’t be able to make any balance transfers, and there’s a foreign transaction fee so you won’t want to use this card if you’re going to be out of the country.

The Bottom Line

The OpenSky® Secured Visa® Credit Card is a way to rebuild credit, reporting all activity to the major credit bureaus, although it may not be the best option available to you.

Like other secured cards, you’ll be required to make an initial deposit which will form your credit limit. But you won’t need a bank account, and you’ll be able to apply for a higher limit over time.

You’ll get the most basic Visa benefits available, and earn no rewards. But there’s no credit check required, so you’ll have an easier time getting approved for the OpenSky Secured Visa than other cards.

It’d be worth your time to check out the other secured cards on the market, however. Some of them have decent selections of benefits, including credit monitoring tools, and some even earn rewards.

How to Apply for the OpenSky Secured Visa Credit Card

Just hit the Apply Now button for the OpenSky Secured Visa below. You’ll be directed to the card issuer’s website, where you can securely apply. You’ll usually hear back pretty quickly whether or not you’ve been approved, but some applicants may be asked for more information.

What Credit Scores Do You Need for the OpenSky Secured Visa?

As we’ve said, you don’t need any credit score in particular to qualify for the OpenSky card, because a credit check isn’t required for approval. This is pretty rare, though some other cards have the same feature.

However, even though a credit check isn’t required, this doesn’t mean everyone will be approved. If there’s some issue with your application, or your identity can’t be verified, for example, you may not be approved.

Qualifications and Requirements

  • Must be 18 to apply
  • Security deposit of $200–$3,000: By debit card, mail-in check, money order, or Western Union money transfer
  • Personal information: Name, date of birth, Social Security number
  • Address and contact information: Home address, phone number, email address
  • Financial information: Total annual income, monthly mortgage or rent payment

OpenSky® Secured Visa® Credit Card

Our rating
Min. credit levelLimited Credit History
Details
Annual Fee$35
Regular APR17.39% Variable
Apply Now

securely on the issuer's website

  • 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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Alternatives to the OpenSky Secured Visa Credit Card

Discover it® Secured

Our rating
Min. credit level Bad
Details
Annual Fee $0
Regular APR See Terms

The Discover it® Secured (Review) is a secured card with more than a few interesting, and useful, features.

The minimum deposit you can make with this card is $200, while the max is $2,500 (depending on your creditworthiness). Your credit line will be equal to your deposit.

The OpenSky’s maximum is $3,000, so the credit limit cap is a little lower with this Discover card. Discover will not upgrade you to an unsecured card, but it will review your account every eight months and may choose to return your deposit after seeing responsible behavior.

Unlike the other secured cards mentioned here, this credit card offers a cash back program which is pretty solid even among unsecured rewards cards. There’s a free credit monitoring tool, which anyone (cardholder or not) can use, but no shopping or travel protections.

This is one of our picks for the best secured credit cards; rebuilding your credit can be far more enjoyable when you’re earning some cash back and keeping tabs on your progress while you’re at it.

Spending Rewards
  • 2% cash back on up to $1,000 spent per quarter at:
    • Gas stations
    • Restaurants
  • 1% cash back on all other purchases
Introductory Bonus Offer
  • Cashback Match: Double all cash back earned in the first year; awarded at the end of the first year
  • FICO Credit Scorecard: Access your FICO Score 8 whenever you’d like for free, based on your TransUnion credit report.
  • Social Security number alerts: Discover searches for your Social Security number on thousands of risky dark web sites and will alert you if your information was compromised.
  • New account alerts: Get notified of credit inquiries and new accounts on your Experian credit report.
  • Cash at Checkout: At eligible retailers you can get cash at checkout. The extra cash will be counted as part of your purchase.
  • Refer a Friend bonus: Earn a $50 statement credit bonus for every friend you refer who’s approved, up to 10 friends per year. If your friend makes a purchase within three months of opening the account, he or she will earn a $50 bonus too.
  • Security deposit: $200–$2,500
  • Purchase APR: See Terms
  • Balance Transfer APR: See Terms for See Terms, then See Terms
  • No foreign transaction fee
  • Annual fee: $0

The information related to Discover it® Secured has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Citi® Secured Mastercard®

Our rating
Min. credit level Bad
Details
Annual Fee $0
Regular APR 22.49% (Variable)
Apply Now

securely on the issuer's website

The Citi® Secured Mastercard® (Review) is a secured card that shares a rare feature with the OpenSky Secured Visa.

You don’t need to have a bank account to make the security deposit for the Citi card, which runs from $200 to $2,500. As long as you apply for the card at a Citibank location, you can pay cash.

So the max deposit is a little less than the OpenSky’s $3,000 limit. Otherwise, it’s pretty similar, aside from allowing you to view your FICO Score 8 based on your Equifax credit report.

But there’s also a handy upgrade path: After showing responsible use, like making payments on time, Citi may refund your deposit and upgrade you to an unsecured card, such as the Citi® Diamond Preferred® Card (Review).

  • Free FICO credit score: See your Equifax-based FICO Bankcard Score 8 on statements, online, and by mobile app.
  • Purchase Protection: If an eligible item you buy with your Citi card is damaged or stolen, Citi will repair the item or reimburse you for the loss.
  • Citi Identity Theft Solutions: Citi will help should you become a victim of identity theft.
  • Security deposit: $200–$2,500
  • Purchase and Balance Transfer APR: 22.49% (Variable)
  • Annual fee: $0
  • The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly.
  • Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online.
  • Use your card anywhere Mastercard® is accepted — worldwide.
  • A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200).
  • Get help staying on track with Auto Pay and account alerts.
  • With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.
  • Manage your account 24/7 online, by phone, or in our mobile app.
  • The standard variable APR for Citi Flex Plan is 22.49%. Citi Flex Plan offers are made available at Citi’s discretion.

The information related to Citi® Secured Mastercard® has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Capital One® Secured Mastercard®

Our rating
Min. credit level Bad
Details
Annual Fee $0
Regular APR 26.99% (Variable)

The Capital One® Secured Mastercard® (Review) has no annual fee but also offers no rewards, as it’s only designed to help build up your credit.

The security deposit here is a bit different than other secured cards. You’ll be asked to make a deposit of one of three amounts from a valid bank account:

  • $49
  • $99
  • $200

But no matter what you’re asked to put down, your starting line of credit will be $200. You can, however, pay more to increase it, up to $1,000. And after your first six months, you’ll be automatically considered for a higher credit line, without having to make an additional deposit.

That’s a helpful feature to have in the world of secured credit cards. And if your creditworthiness improves, Capital One might let you upgrade to an unsecured card.

So the maximum credit line available is considerably lower than the OpenSky’s max limit, but the Capital One card provides the opportunity to increase your limit without having to make another deposit. There are also more protections with this card than the OpenSky.

  • Access to a higher credit line: The issuer will consider increasing your credit line in as little as six months.
  • Capital One CreditWise: Free access to one of your VantageScore 3.0 credit scores, based on your TransUnion credit report
  • Travel protections: Travel assistance services, rental car insurance, travel accident assurance
  • Shopping protections: Extended warranty and price protection
  • Security deposit: $49, $99, or $200, up to $1,000
  • Purchase and Balance Transfer APR: 26.99% (Variable)
  • No foreign transaction fee
  • Annual fee: $0

The information related to Capital One® Secured Mastercard® has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Capital One® Platinum Credit Card

Our rating
Min. credit level Limited Credit History
Details
Annual Fee $0
Regular APR 26.99% (Variable)

The Capital One® Platinum Credit Card (Review), unlike the other cards here, is not a secured card.

It’s an unsecured card, but also designed to help build credit back up. And because it’s unsecured, it doesn’t require a deposit to fund the credit limit.

There are still no rewards and very few benefits with the Capital One Platinum. You probably won’t start with a very high line of credit, but after your first six months of card use you’ll be automatically considered for a higher limit.

If you’re looking for another route to build credit, and you have fair or average credit to start, this card might work for you.

  • Access to a higher credit line: The issuer will consider increasing your credit line in as little as six months.
  • Capital One CreditWise: Free access to one of your VantageScore 3.0 credit scores, based on your TransUnion credit report
  • Travel protections: Travel assistance services, rental car insurance, travel accident assurance
  • Shopping protections: Extended warranty and price protection
  • Purchase APR: 26.99% (Variable)
  • Balance Transfer APR: 26.99% (Variable)
  • No foreign transaction fee
  • Annual fee: $0

The information related to Capital One® Platinum Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

OpenSky® Secured Visa® Credit Card

Our rating
Min. credit levelLimited Credit History
Details
Annual Fee$35
Regular APR17.39% Variable
Apply Now

securely on the issuer's website

  • 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.

Do you use the OpenSky Secured Visa Credit Card, or a different secured card? How do you like it? Let us know in the comments!

Looking for great ways to build up your credit? Here’s our definitive guide! How to Build Credit With Credit Cards: The Definitive Guide
At a glance

The OpenSky Secured Visa Credit Card was created to help build you a better credit history. There’s no credit check required when applying, just an initial deposit. It has an annual fee of $35.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

The information related to Discover it® Secured, Citi® Secured Mastercard®, Capital One® Secured Mastercard®, and Capital One® Platinum Credit Card have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.

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