Take it for what it is, nothing more
If you’re rebuilding credit, these are the cards in your pool of options; secured lines of credit. I’m fine with that, and I enjoy that cards like OpenSky exist to get me on my way back to good. The only issue I have with this card, and it’s a problem that is common among all the “if you’re desperate” cards. When you make a payment, they withhold your payment, but don’t release available credit for a long period of time. Not only are you securing your card, but then upon making bank transferred payments, they hold that money in limbo for many days. This is an abundance of interest free cash on a day to day basis, they revolve through their clients. It’s dirty business practice in my opinion, and cards only one step up from this level don’t do it. So, my advice…get this card, use it and keep the balance low…don’t PAY them. Use this to have an open line, a positive pay history and LOW utilization, as in below 10% of available credit. Don’t use it any more than you have to. Use this high interest, poor customer service, never will give you a credit increase card, to get to the next step. For that reason I suggest getting it, but only that reason. It’s better than first choice bank cc…I’ll say that much, but my new Capital One entry level card is loads better AND has a credit limit increase program.