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 Palmer
By Kimberly Palmer 
Edited by Kenley Young

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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?

Capital Bank, the issuer of the OpenSky® Secured Visa® Credit Card, says cardholders may be eligible for an unsecured card, the OpenSky Visa® Gold Card, in as little as six months. You can't apply for the Gold card separately; it's available only as a "graduation" option for holders of the secured card.

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).

🤓Nerdy Tip

For a limited time when you apply for the OpenSky® Secured Visa® Credit Card, you can qualify for an automatic $50 unsecured credit line increase after three on-time payments, up to $200 in your first year, with no additional deposit required. Terms apply.

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.

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