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OpenSky Secured Visa review: No credit check required for this secured card

Lee Huffman
7 min read

As a secured credit card, the OpenSky® Secured Visa® Card could be a useful tool for applicants who want to build credit and improve their score.

While it only earns limited rewards, customers can qualify for credit limit increases every six months with good credit habits. There’s no credit check required, and your activity will be reported to the three major credit bureaus. Plus, you can use the card anywhere Visa is accepted — and nobody will know that it’s a secured credit card except for you.

Check out everything you need to know about the OpenSky Secured credit card.

  • Annual fee: $35

  • Welcome offer: None

  • Rewards: Up to 10% cash back with offers from select merchants

  • More details: Minimum required deposit of $200; reports to all three major credit bureaus; credit limit increase in as few as six months

If you carry a balance on the OpenSky Secured Visa Credit Card, you’re charged interest at a variable purchase APR of 25.64%.

Cardholders can take cash advances as well, which also have a variable APR of 25.64%. However, there’s no grace period for cash advances, so you’ll begin accruing interest as soon as you receive the money. The bank also charges a cash advance fee of 5% of the transaction amount (minimum $6).

This card doesn’t offer balance transfers, so there isn’t a stated balance transfer APR.

The OpenSky Secured Visa charges an annual fee of $35. It only earns limited rewards, so there are few perks to help offset the cost of the card.

Because this is a secured card, you’ll also need to put down a minimum opening deposit of $200. The amount you deposit will act as your credit limit. The deposit is refundable if you close your account or graduate to an unsecured OpenSky card.

This card does not provide a welcome bonus opportunity for new customers.

This card doesn’t offer an intro APR offer for new customers.

The OpenSky rewards program provides limited offers from select retailers, offering as much as 10% cash back on qualifying purchases. Some of these offers are automatically linked to your account, while you have to manually activate other offers to be eligible.

The cash back you earn is only available as a statement credit, which will be automatically applied to your account.

As a secured credit card, the primary benefit is to provide applicants with poor or limited credit access to a credit line. Cardholders also receive:

To build your credit, the credit bureaus need to be notified of your positive credit habits. The OpenSky Secured Visa will report your payment history, credit limit, statement balance, and other factors to help you build your credit. Use your card responsibly by making all payments on time and keeping your balance low to build good credit.

By using your card responsibly, you may qualify for a credit limit increase every six months. Increasing your limit provides more buying power and can help lower your credit utilization. Your utilization ratio is calculated by dividing your balance by your credit limit, and it makes up 30% of your FICO credit score.

The OpenSky Secured Visa credit card is ideal for people who want to build credit but can’t qualify for a traditional credit card. This card provides access to a credit limit that matches your security deposit of $200 to $3,000.

Using the card to make purchases and paying off those charges regularly helps to build your credit when the bank reports to all three major credit bureaus. As your credit score improves, you may qualify to convert to the OpenSky® Gold Visa® Unsecured Card or get approved by another bank for an unsecured card.

You won’t earn a welcome bonus with this card and the rewards program is limited, so this isn’t the right choice for those looking to rack up perks on their spending. If you want a card with these benefits, build your credit with the OpenSky Secured Visa by making on-time payments and keeping your utilization low in order to qualify for other cards that do.

  • No credit check to apply

  • Get a credit line increase in as few as six months

  • Credit limit varies from $200 to $3,000, based on the security deposit you put down

  • Reports to all three major credit bureaus to help build your credit history

  • Doesn’t offer a welcome bonus and only includes limited rewards

  • Charges an annual fee

  • Requires a security deposit to open an account

  • Foreign transaction fees of 3% on purchases outside the U.S.

Although this is a secured credit card, it operates just like any other Visa card. It’s accepted online, in-person, and over the phone with any merchant that accepts Visa. Additionally, there are no markings on the physical card indicating that this is a secured credit line.

When traveling internationally, Visa and Mastercard are the two most commonly accepted types of credit cards. You can use this card when abroad, but the bank charges a 3% foreign transaction fee on all purchases made outside of the U.S.

Making on-time payments is critical to building and maintaining a good credit score. Payment history is the largest factor in your credit calculation, accounting for 35% of your FICO score. To make a payment on the OpenSky Secured Visa, you have several options.

  • Log into your online account

  • Use the OpenSky mobile app (Apple, Google)

  • Mail payments to:
    OpenSky Card Services
    P.O. Box 660924
    Dallas, TX 75266-0924

  • Automated phone payments by calling (800) 859-6412

Consumers looking to build credit can benefit from the OpenSky Secured Visa Credit Card. However, it may not be the best credit card for your situation. Before applying for this card, consider other credit-builder cards, which may be a better fit.

Why we like it: Cardholders who want to build credit or are just starting out can start building up their credit score with the Capital One Platinum Secured Card. Based on your application, you may qualify for a security deposit as low as $49 for an initial credit line of $200. With responsible use of the card, you may qualify for a credit limit increase in as little as six months or an upgrade to an unsecured card.

While this no-annual-fee card has limited benefits, it doesn’t charge foreign transaction fees and reports your activity to all three major credit bureaus.

Why we like it: With the Capital One Quicksilver Secured card, you’ll earn an unlimited 1.5% cash back on every purchase. This card allows consumers to simultaneously build credit while earning cash-back rewards without paying an annual fee.

Security deposits start at a $200 minimum, and cardholders can qualify for an automatic credit line increase in as little as six months. Rewards don’t expire as long as your account is open and in good standing, and they can be redeemed for cash back, statement credits, or gift cards.

Why we like it: For students who want to build credit and earn cash-back rewards, the Capital One SavorOne Student Cash Rewards is an excellent choice. It earns unlimited 3% cash back rewards on dining, entertainment, select streaming services, and at grocery stores, plus 1% cash back on everything else. New cardholders can earn a one-time cash bonus of $50 after spending $500 within three months.

The card has no annual fee, and it doesn't charge foreign transaction fees when traveling outside the U.S.

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers.