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Open Sky Secured Review: No Credit Check Necessary

Oct. 3, 2018
Credit Cards, Credit Cards for Bad Credit
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

It’s rare to find a credit card that doesn’t run a credit check when you apply and doesn’t require you to have a bank account to be approved. That’s why the OpenSky® Secured Visa® Credit Card credit card stands out. By requiring neither a credit check nor a bank account, it may offer a chance to build or restore credit for those who have found themselves shut down by other issuers.

The OpenSky® Secured Visa® Credit Card card doesn’t come with much in the way of perks. Few secured credit cards do. But used responsibly, it can help you improve your credit, setting you up to get approved for a better card down the road. It also doesn’t pile on the fees like some cards for bad credit. If you’re struggling to get approved for a card, it’s worth considering.

OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card

Apply Now on Capital Bank's secure site
  • Recommended Credit Score
  • 300
    Poor - Average
  • Card Details
  • Pros

    • No credit check required
    • Doesn't require a bank account
    • Reports to the three major credit bureaus


    • Has annual fee
    • High ongoing APR
    • Requires $200 mininum deposit

    Annual Fees



    • APR: 19.14% Variable APR
    • Cash Advance APR: 19.14%, Variable

    Bonus Offers


    Intro APR

    • N/A
  • Additional Information
    • 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.

OpenSky® Secured Visa® Credit Card: Basics

Here’s what you can expect as a OpenSky® Secured Visa® Credit Card cardholder:

  • The annual fee of $35
  • Because it’s a secured card, you have to make a security deposit, which determines your credit limit. The issuer holds this deposit as collateral in case you don’t pay your bill. The minimum deposit is $200; the maximum is $3,000.
  • The ongoing APR is 19.14% Variable APR
  • Card activity is reported to all three credit bureaus

OpenSky® Secured Visa® Credit Card: Benefits

With secured cards, your top priority is building your credit enough that you can move on to one without a deposit. Some secured cards offer more than just the basics — but many people haven’t even been able to get the basics. The OpenSky® Secured Visa® Credit Card card will be attractive to them.


People with bad credit or no credit often get tripped up by credit checks when applying for cards. The OpenSky® Secured Visa® Credit Card doesn’t run a credit check. That doesn’t mean approval is automatic, though. You’ll still need income and a security deposit.


Most cards require you to have a bank account, putting them out of reach for the unbanked. The OpenSky® Secured Visa® Credit Card does not. You can pay the security deposit with a money order or a Western Union payment. Credit card bills can also be paid by money order. However, if you already use these services, you know that they cost money, which adds up over time.

If you can qualify for a bank account, it’s worth applying for a low-fee checking account or a second chance checking account, not only because it could open the door to better credit cards, but also because it would save you money on fees in the long run. Getting a bank account is inevitable if you want to build credit. You’ll likely need one later if you plan on graduating to an unsecured credit card with another issuer.


A card that reports your activity to all three major credit bureaus, as this one does, is a good thing when you make your payments on time. The credit bureaus — TransUnion, Equifax and Experian — gather the information to calculate your credit score. A higher score can lead to better terms on credit cards, mortgages, car loans and other financial products.

OpenSky® Secured Visa® Credit Card: Pitfalls and other possibilities

The OpenSky® Secured Visa® Credit Card credit card is a good option for those who have tried and failed to get other cards. But it’s not the best secured card hands-down. Among the potential drawbacks:

NO path to UPGRADE

The OpenSky® Secured Visa® Credit Card doesn’t have an option to upgrade your account to an unsecured credit card — one without a security deposit. The Discover it® Secured, on the other hand, automatically starts reviewing your account after eight months to see whether you’re eligible for an upgrade. You’ll need a bank account, however.

With the OpenSky® Secured Visa® Credit Card, you’ll have to look elsewhere once your credit is good enough for an unsecured card. Unless you want to keep paying the annual fee, you’ll have to cancel your account and get your deposit back. That might even ding your credit, since it could increase your utilization ratio.

The Discover it® Secured has a $0 annual fee and even offers a cash-back rewards program.

LOWER DEPOSIT may be available

The minimum deposit for the OpenSky® Secured Visa® Credit Card is $200, which gets you a credit line of $200. With the Capital One® Secured Mastercard®, you could qualify for a $200 credit line with a deposit of just $49 or $99, depending on your creditworthiness. Cardholders can also pay their deposit in installments and have 80 days to fully fund the card. Make your first five payments on time, and you may gain access to a higher credit line with no additional deposit needed. The annual fee is $0. You’ll need a bank account to qualify for this card.

Is the OpenSky® Secured Visa® Credit Card right for you?

The OpenSky® Secured Visa® Credit Card card is great for a specific kind of consumer: One who couldn’t pass a credit check or doesn’t have a bank account. If you fall into either category, give this card a good look. Otherwise, check out other secured cards before pulling the trigger.

Melissa Lambarena is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @LissaLambarena