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The OpenSky® Secured Visa® Credit Card and OpenSky® Plus Secured Visa® Credit Card, issued by Capital Bank, are legitimate credit cards. The latter card is among NerdWallet’s list of the best credit cards for building credit.
OpenSky, the digital banking division of Capital Bank, offers these options as a way to establish a credit history with a refundable deposit. As with most secured credit cards, the amount deposited determines the card’s credit limit. But unlike other secured credit cards, OpenSky credit cards don’t require a bank account or a credit check to qualify.
Are OpenSky credit cards actual credit cards?
Yes, both the OpenSky® Secured Visa® Credit Card and OpenSky® Plus Secured Visa® Credit Card are actual credit cards. But unlike a traditional unsecured card that requires no collateral, these are secured cards, so they require an upfront deposit. You can contribute more than the minimum deposit requirement — which is $200 for the OpenSky® Secured Visa® Credit Card and $300 for the OpenSky® Plus Secured Visa® Credit Card — but the maximum amount is $3,000. You can get the deposit back when you close the account in good standing.
Do OpenSky credit cards charge an annual fee?
The OpenSky® Secured Visa® Credit Card does carry an annual fee, which is $35. The OpenSky® Plus Secured Visa® Credit Card has a $0 annual fee, but it requires a higher security deposit.
Here’s how they compare:
OpenSky® Secured Visa® Credit Card
OpenSky® Plus Secured Visa® Credit Card
The ongoing APR is 25.64% Variable APR.
The ongoing APR is 29.99% Variable APR.
Minimum security deposit
Normally $200. Right now you can get a $200 credit line for $149.
Normally $300. Right now, $200.
Checking account required
Do OpenSky credit cards require a credit check?
According to the issuer, applications for the OpenSky® Secured Visa® Credit Card and OpenSky® Plus Secured Visa® Credit Card do not require a credit check.
It's rare to find credit cards — even secured cards — that don't perform a hard pull of your credit when you apply.
Do OpenSky credit cards report to the U.S. credit bureaus?
Yes. As you use either card, your payment history is reported each month to all three major credit bureaus: Equifax, Experian and TransUnion.
This reporting helps build your credit over time, as long as you continue making on-time payments.
Do OpenSky credit cards offer an upgrade path?
Capital Bank, the issuer of the OpenSky® Secured Visa® Credit Card and OpenSky® Plus Secured Visa® Credit Card, says cardholders may be eligible for an unsecured card, the OpenSky Visa® Gold Card, in as little as six months. But you can't apply for the Gold card separately; it's available only as a "graduation" option for holders of a secured card.
Do OpenSky credit cards earn rewards?
No, neither the OpenSky® Secured Visa® Credit Card nor the OpenSky® Plus Secured Visa® Credit Card will earn you rewards. This is typical among cards aimed at those with poor credit (FICO scores of 629 or lower).
What else makes the OpenSky credit cards unique?
Not only can you bypass a credit check during the application process, but you also don't need a bank account to qualify for either card.
However, you do need to provide a Social Security number or individual taxpayer identification number.