Is the OpenSky Card Legit?

Yes, the OpenSky card is legitimate, but it’s a secured card rather than a more traditional unsecured card.
Kimberly PalmerOct 14, 2021

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

The OpenSky® Secured Visa® Credit Card is a legitimate card, and it’s also one of NerdWallet’s picks for the best credit cards for building credit.

Issued by Capital Bank, it offers a way to build your credit by using what's known as a secured card. That means you put down a refundable deposit, which becomes your credit limit on the card.

Is the OpenSky® Secured Visa® Credit Card an actual credit card?

Yes, the OpenSky® Secured Visa® Credit Card is an actual credit card. But unlike a traditional "unsecured" card that requires no collateral, it's a “secured card,” so it requires an upfront deposit. You can determine the size of the deposit, which is also your credit limit and can be as low as $200. The maximum amount is $3,000 and you can get the deposit back when you close the account in good standing.

Does the OpenSky® Secured Visa® Credit Card charge an annual fee?

The card does carry an annual fee, which is $35.

Does the OpenSky® Secured Visa® Credit Card require a credit check?

According to the issuer, the application doesn't require a credit check, and it can be completed in under five minutes.

It's rare to find credit cards — even secured cards — that don't perform a hard pull of your credit when you apply.

Does the OpenSky® Secured Visa® Credit Card report to the U.S. credit bureaus?

Yes. As you use the 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.

Does the OpenSky® Secured Visa® Credit Card offer an upgrade path?

The OpenSky® Secured Visa® Credit Card doesn’t offer an option to "graduate" to an unsecured card after months of responsible use.

If later on you want an unsecured card, you'll have to apply for one — hopefully, you'll be armed with a new and improved credit score.

Other secured cards, like the Discover it® Secured Credit Card, offer an upgrade path.

Does the OpenSky® Secured Visa® Credit Card earn rewards?

No, the OpenSky® Secured Visa® Credit Card doesn’t earn rewards, which is typical for cards aimed at those with poor credit (FICO scores of 629 or lower).

What else makes the OpenSky® Secured Visa® Credit Card 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 this card.

However, you do need to provide a Social Security number or individual taxpayer identification number and show that your monthly income exceeds your monthly expenses.

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.