OpenSky Secured Visa Review: No Credit Check Necessary

You can qualify for this secured card with no credit check and no bank account. However, there's an annual fee, and your upgrade options aren't that great.
Melissa Lambarena Author AvatarClaire Tsosie Author Avatar
Mar 29, 2024 9:44 a.m. PDT
Edited by
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.


NerdWallet rating
The bottom line:

If you've struggled to qualify for a secured card because of poor credit or lack of a bank account, this card is a good option. But if you aren't facing such obstacles, you'd be better served by an alternative with no fee and a better upgrade path.

  • Qualify with limited/bad credit
  • Has annual fee
  • Requires minimum deposit
OpenSky® Secured Visa® Credit Card Image
OpenSky® Secured Visa® Credit Card
Annual Fee


Regular APR

25.64% Variable APR

Intro APR


Rec. credit score

Apply Now
on Capital Bank's website
on Capital Bank's website

Annual Fee


Regular APR

25.64% Variable APR

Apply Now
on Capital Bank's website
on Capital Bank's website
  • Annual fee


  • Rewards rate


  • Bonus offer


  • Intro APR


  • Ongoing APR

    APR: 25.64% Variable APR

    Cash Advance APR: 25.64%, Variable

  • Foreign transaction fee


More details from Capital Bank
  • New feature! Earn up to 10% cash back on everyday purchases
  • No credit check to apply. Zero credit risk to apply!
  • Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
  • Get free monthly access to your FICO score in our mobile application
  • Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
  • Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
  • Fund your card with a low $200 refundable security deposit to get a $200 credit line
  • Apply in less than 5 minutes with our mobile first application
  • Choose the due date that fits your schedule with flexible payment dates
  • Fund your security deposit over 60 days with the option to make partial payments
  • Over 1.4 Million Cardholders Have Used OpenSky Secured Credit Card To Improve Their Credit

Compare to Other Cards

25.64% Variable APR
28.24% Variable APR
Rates & Fees
10.99% intro APR on Balance Transfers for 6 months
19.24% Variable
Get more smart money moves — straight to your inboxBecome a NerdWallet member, and we'll send you tailored articles we think you'll love.

Detailed review: OpenSky® Secured Visa® Credit Card

The OpenSky® Secured Visa® Credit Card stands out as one of the few secured credit cards that you can qualify for without a bank account or a credit check. That makes it a good option for a specific type of consumer: someone looking to establish or boost credit using a secured card but struggling to qualify for one because they lack a bank account or have poor credit.

Aside from being relatively easy to get, though, the card isn't what you'd call extraordinary. Secured cards from major issuers don't typically charge an annual fee, while this card does. There is a path to graduate to a regular "unsecured" card, although that card is similarly lackluster.

OpenSky® Secured Visa® Credit Card: Basics

  • Card type: Secured.

  • Annual fee: $35.

  • Security deposit: Normally $200 minimum, $3,000 maximum. Secured credit cards require you to provide a refundable security deposit, which determines your credit limit. The issuer holds this deposit as collateral in case you don't pay your bill. The OpenSky® Secured Visa® Credit Card lets you pay your deposit in installments, but terms apply. You must pay the full deposit amount within 60 days or you'll have to reapply for the card.

  • Interest rate: The ongoing APR is 25.64% Variable APR.

  • Rewards: Up to 10% back on select purchases.

  • Foreign transaction fee: 3%.

  • Cash advance fee: 5% of the amount of the advance (minimum fee $6).

  • Credit bureau reporting: This card reports payment information to all three major credit bureaus, so good payment habits can help you build credit.

Benefits and perks

No credit check required

Bad credit can make it hard to qualify for credit cards — even secured credit cards, in some cases. It won't stop you from qualifying for the OpenSky® Secured Visa® Credit Card, though, which doesn't run a credit check when you apply.

To be sure, approval isn’t guaranteed. To qualify, you'll still need to meet certain requirements. For example, you’ll need to:

  • Provide a Social Security number or individual taxpayer identification number.

  • Be a U.S. citizen or permanent resident.

  • Have a monthly income greater than your monthly expenses.

  • Pay a security deposit, which will be refunded if the account is upgraded or closed in good standing.

Overall, though, it's relatively easy to get approved for this card. And if you've racked up rejections already, the lack of a credit check might make this card a compelling choice.

No bank account required

Most cards require you to have a bank account, putting them out of reach for the unbanked. The OpenSky® Secured Visa® Credit Card doesn't. 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.

🤓Nerdy Tip

If you can qualify for a bank account, it’s worth applying for a low-fee checking account or a second chance checking account. Such an account could open the door to better credit cards and save you money on fees, compared with what you might otherwise spend on money orders, prepaid debit cards or check-cashing. You'll likely need one later if you plan on graduating to an unsecured credit card with another issuer.

Activity reported to all three credit bureaus

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 and stay well below your credit limit. The three major consumer credit bureaus — TransUnion, Equifax and Experian — gather the information to calculate your credit scores.

A good credit score — one that's 690 or higher — can make life easier and save you money in the long run. For example, such a score could help you get approved for an apartment, get cell phone service without an upfront deposit, qualify for credit cards with richer rewards and perks, and get mortgages and car loans with lower interest rates. (With the OpenSky® Secured Visa® Credit Card, you can track your progress toward that better standing, too, since you have access to your FICO score through your account.)

How it compares to the OpenSky® Plus Secured Visa® Credit Card

The OpenSky® Secured Visa® Credit Card is similar in name and features to the OpenSky® Plus Secured Visa® Credit Card. Both are issued by Capital Bank, but there are differences: The Plus version charges a $0 annual fee and normally requires a $300 minimum security deposit, whereas the non-Plus version has an annual fee of $35 but usually requires only a $200 upfront deposit. Here's how they compare:

Empty Table Header

OpenSky® Secured Visa® Credit Card

OpenSky® Plus Secured Visa® Credit Card

Annual fee



Sign-up bonus




The ongoing APR is 25.64% Variable APR.

The ongoing APR is 29.99% Variable APR.

Minimum security deposit



Checking account required



Drawbacks and considerations

Annual fee

Most secured cards from major issuers don't charge an annual fee. In contrast, the OpenSky® Secured Visa® Credit Card charges an annual fee of $35, making it a more costly option — and much less appealing for those who are able to qualify for other cards. But it's still a much better option than certain unsecured cards for people with bad credit that charge annual fees of $75 or $99.

Limited upgrade path

For years, the OpenSky® Secured Visa® Credit Card didn't have an option to upgrade your account to an unsecured credit card — one without a security deposit. That appeared to change in 2021 with the launch of the unsecured OpenSky Visa® Gold Card. According to the issuer, Capital Bank, secured cardholders may be eligible for the Gold card in as little as six months if they demonstrate responsible credit behavior.

The ability to upgrade is good for a couple of reasons. It means you won't have to keep hundreds of dollars tied up in a security deposit indefinitely. And if you can convert your secured card to an unsecured option without having to close your account, that can be good for your credit score, since closing an account can have an impact on the "length of credit history" aspects of scoring formulas, as well as on your utilization ratio.

OpenSky doesn't provide much information about the Gold card, though. Capital Bank says applications are accepted by invitation only. Reports from OpenSky cardholders who have been offered the Gold card suggest that, at least in some cases, it charges an annual fee of $59. It's also not clear whether the offer involved a true account upgrade or simply the opportunity to apply for an unsecured card.

Things are much more straightforward with the Discover it® Secured Credit Card. Discover automatically starts reviewing your account after seven months to see whether you're eligible for an upgrade. You’ll need a bank account, however, and the issuer runs a credit check. The Discover it® Secured Credit Card has a $0 annual fee and even offers a solid cash-back rewards program. Then, once your credit is in good shape, you could qualify for one of our best credit card offers.

Lower deposit may be available

Normally, the minimum deposit on the OpenSky® Secured Visa® Credit Card is $200, which gets you a credit line of $200. With the Capital One Platinum Secured Credit Card, you could qualify for a $200 credit line with a deposit of just $49, $99 or $200. Cardholders can also pay their deposit in installments over time to fully fund the card. Make your payments on time, and you may gain access to a higher credit line in as little as six months with no additional deposit needed.

Alternate Pick: Rewards and upgrading
Rare benefits in a secured card

This no-fee card gets a lot of attention for its rewards: 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, and 1% on all other purchases. But what really makes it special is its clear path to an upgrade, with automatic account reviews starting after seven months.

How to decide if it's right for you

The OpenSky® Secured Visa® Credit Card card is great if you can't pass a credit check or don't have a bank account. Otherwise, go with a different secured card.


NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.

Frequently asked questions

The OpenSky® Secured Visa® Credit Card doesn't require a credit check or a bank account, so it can be a great option for people with poor credit or who are unbanked. The card reports account activity to all three major credit bureaus, so responsible use can help you build credit. There's a $35 annual fee, though.

The OpenSky® Secured Visa® Credit Card does not require a credit check, so it's possible to be approved even with bad credit. Approval isn't guaranteed, though. The issuer may look at your income, financial obligations and other factors.

The OpenSky® Secured Visa® Credit Card normally requires a deposit of at least $200; you can deposit as much as you want, up to a maximum is $3,000. Your deposit will become your card’s credit limit.

Your security deposit will be refunded when you close your account in good standing.

The issuer of the OpenSky® Secured Visa® Credit Card doesn’t offer the option to upgrade to an unsecured credit card. Once your credit improves, you can apply for an unsecured card from another issuer, close your account and get your deposit back.

It depends on the customer, but the issuer says most cardholders who started without a credit history were able to build a credit score record in six months.

About the authors

NerdWallet Pixel