In-Depth Analysis

OpenSky® Secured Visa® Credit Card Review 2024

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Written By
I. Mitic
March 28, 2024
Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

In the age of omnipresent social media, it’s safe to say that we’ve set the bar for happiness a bit too high. After all, any philosopher will tell you that happiness can come in even the simplest things: savoring the perfect cup of coffee, adding an expensive spice to your meal, or paying your bills on time.

However, if your credit score is low, even the simplest of these things can seem out of reach. This is why you need an excellent credit card in your wallet. One of those cards is OpenSky® Secured Visa® credit card, which we’re about to review for you.

We’ve identified the pros and cons of this secured credit card in the hopes that it will give you the chance to enjoy those small moments of happiness without costing you tenfold.

Regular APR
25.64% (Variable)

Fees Annual fee: $35

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Minimum Credit Score
No credit score minimum
Welcome offer
Intro APR
Annual fee: $35
10% cash back on purchases
pros thumb up Strengths
  • No credit check required. Zero credit risk to apply!
  • Helps build credit
  • You set your credit limit
  • Reports to all three major credit bureaus
  • OpenSky app available
  • Dedicated credit education page on website
pros thumb up Weaknesses
  • Requires a minimum deposit of $200
  • Customer service could be better

OpenSky® Secured Visa® Credit Card Overview

If you have bad credit, getting your hands on a credit card seems impossible. This is especially troublesome when your regular income doesn’t cover your necessities; that additional line of credit can give you peace of mind.

Luckily, even with bad credit, you still have several options, and this Capital One credit card is one of those. You don’t have to go through the ordeal of getting rejected with OpenSky because it doesn’t require a credit check for you to get approved.

Sound sketchy? While it seems like one of those “get everything for nothing” offers, it really isn’t. This is a secured credit card – it requires you to make a deposit beforehand, which will be equal to your OpenSky® Secured Visa® credit card limit.

The minimum $200 deposit and equal credit limit is an excellent solution for funding necessities that your regular income can’t cover as quickly. The limit can be as high as $3,000, which will work to your benefit when it comes to increasing your credit score if you have the means to match it as a deposit.

In essence, as long as your monthly income covers your monthly expenses, you’ll probably be good to go. However, it’s always good to check for other solutions; OpenSky® Secured Visa® credit card is the best for no credit check, but it works its miracles only when properly used. If you misuse this card, it could further damage your credit score.

If you’re looking for a secured credit card that will help you improve your score, read on for a detailed analysis of why you should consider OpenSky. We’ll be explaining the application process, requirements, fees, and benefits. You can also rely on us to present the potential pitfalls so that you can make an informed decision before heading to a Capital One bank branch to get one.

OpenSky® Secured Visa® Credit Card Processing

Applying for this credit card takes less than five minutes. Whether or not you’ll get approved has nothing to do with your credit score or your existing bank balance. Still, to apply, you need to fulfill a couple of requirements.

You need to be a US citizen or permanent resident, and you’ll need to provide a Social Security number or Taxpayer Identification Number. The other thing that you should have, as mentioned before, is a monthly income that can cover your monthly expenses.

The required $200 security deposit will also play a massive role in getting approved once you apply for an OpenSky® Secured Visa® credit card. The good news is that it will be refunded in full if you decide to close your account, even though closing an account is not recommended if you’re looking to build your credit from scratch.

Even though it takes just a couple of minutes to apply, it usually takes up to two days for the company to review and process applications. After the application approval, OpenSky will notify you via email. You can also expect emails if something is missing from your application, giving you time to submit additional documents. Once you are approved, the OpenSky® Secured Visa® credit card will be mailed to you; it might take up to 12 to 14 business days before it arrives at your doorstep.

OpenSky® Secured Visa® Credit Card Fees

Even though this card seems like a perfect solution for anyone looking to get some credit, prepare yourself for a headache once you head to its pricing and fees section. One would expect some fees considering that the company doesn’t take credit score into account, but these fees really seem too high.

The APR for purchases and cash advances with this card is 25.64% (variable), and if you are charged interest, it will be no less than $1. These are undoubtedly lower than other options for bad credit available.

You can also expect some transaction fees with this card. Namely, there is a 3% OpenSky® Secured Visa® credit card foreign transaction fee and a 5% fee for cash advances. Penalty fees will also apply in cases of late payment: up to $40 for late payments and up to $25 for returned payments.

If you decide to stop using your account temporarily, you should keep in mind that there is also a $10 fee charged monthly after 12 months of inactivity. This is very counterintuitive if you are looking for credit cards to build credit score, and it is not recommended that you close your account.

While OpenSky is a good solution for those who can’t get approved for other credit lines, it also has its drawbacks. You should consider everything we’ve just mentioned before signing up for this particular credit card.

OpenSky Credit Card Mobile Apps

Anyone with this credit card can use its mobile app to keep tabs on their balance and expenses. The app is exceptionally well designed, easy to use, and works on both IOS and Android.

Thanks to the straightforward user interface, users will be able to check their due dates and recent transactions. They can also keep track of their daily spending to ensure that they’re not overusing the card and generating unnecessary fees for themselves.

Overall, the app is a nice touch and probably a great help for users struggling with their credit scores. Seeing their expenses and payments neatly organized within this app helps them stay on track and keeps them aware of their credit usage.

How OpenSky® Secured Visa® Card Compares to Other Secured Credit Cards

OpenSky® Secured Visa® Logo
OpenSky® Secured Visa®
Regular APR:

25.64% (variable)

Annual fee:


Capital One® Secured Mastercard  Logo
Capital One® Secured Mastercard
Regular APR:

26.99% (variable)

Annual fee:


Discover it® Secured Credit Card Logo
Discover it® Secured Credit Card
Regular APR:

22.99% (variable)

Annual fee:


Benefits of OpenSky® Secured Visa® Credit Card

Apart from letting you apply for credit regardless of your credit score, this card comes with additional benefits. The major one is that you can genuinely improve your credit score because the company reports your payments every month to all three bureaus.

Additionally, carriers of this card get all the benefits of using a Visa credit card. These include fraud protection, worldwide acceptance of the card, and much more.

OpenSky® Secured Visa® Credit Card User Reviews

For this article, we’ve also checked what other users have to say about the card and whether there are any negative OpenSky® Secured Visa® credit card reviews.

OpenSky advertises itself as being the credit card that can help you improve your credit score within six months, but take this with a grain of salt, as we’ve found plenty of reviews online that beg to disagree. Plenty of users found no improvement in their credit score after months of using the card, but there are also those who saw major improvements after only a month or two.

On another note, reviewers seem to agree that reaching customer support can be difficult. OpenSky makes it difficult for users to find the information they need to easily contact customer support, and it should definitely work on training staff to be more polite and helpful.

The Bottom Line

To conclude this review, we’ll say that OpenSky® Secured Visa® credit card is the best for no credit check and for unbanked clients. If you’ve been rejected multiple times because of your low credit score or are unable to open a bank account for any reason, it’s certainly worth giving this card a go.

Just keep in mind that because of the high APR and inactivity fees that can stack up, it might be best to have a fallback option to switch to as soon as you see some improvement with your credit score.


Is OpenSky a good secured credit card?


If you’re struggling with your credit score or don’t have an open bank account, you should go ahead and get your OpenSky® Secured Visa® credit card, as the benefits certainly outweigh the cons with this card. However, there are other options - both secured and unsecured - that you should look into, as they can be a bit less costly and allow you to upgrade to an unsecured credit card as your credit score improves.

Does OpenSky increase your credit limit?


OpenSky will not increase your credit limit by itself - you have to request it via your online account. You will also have to send additional money as a security deposit to fund it. If you’re looking for a card that you can eventually upgrade to an unsecured one, then this credit card is not your best pick.

Is OpenSky a real credit card?


Yes, OpenSky® Secured Visa® credit card is a real secured credit card issued by Capital One Bank. You can use it just like you would use any other Visa card out there, and claim all the Visa benefits as well.

Is OpenSky legit?


Yes, OpenSky is a legit solution that’s most suitable for unbanked people and those with low credit scores.