- No credit check necessary
- Low annual fee, no applications fees a highly competitive APR
- Your credit limit is determined by the security deposit you provide
Penalty APR: Up to 22.25%
Cash Advance APR: 18.14%
There are other secured credit cards with lower annual fees, higher credit limits, and smaller minimum deposits. But the OpenSky® Secured Visa® has two major benefits that set it apart: There is no credit check for applicants, and you do not need a bank account.
This means the card is accessible to people with extremely low credit scores, people with no credit history at all, and people who don't have access to a bank account. The only catch is that your monthly income must be higher than your monthly expenses. As long as you meet that requirement, approval is very likely.
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