OpenSky Secured Visa Credit Card Review

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One of the biggest barriers to building credit is not having a bank account. If you don’t have either, the OpenSky Secured Visa Credit Card from Capital Bank, N.A. can help you, and for a reasonable price. You won’t need any credit at all to get a card, and you won’t need a bank account either, although you may need to find some creative ways to pay the security deposit and your bill.

OpenSky® Secured Visa®Credit Card

Overall Rating
2.5
OpenSky® Secured Visa®Credit Card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Poor - Excellent
Regular APR (%) 17.39% variable
Annual Fee $35
Minimum Deposit to Activate $200
Allows upgrade to unsecured card No
Pay deposit in installments Yes
Ratings Breakdown
for Interest
2.1
for Fees
2.8
for Rewards
2.3
for Credit
5.0

Who Is This Credit Card Best For?

  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need See more cards
    Savvy Saver
  • Avatar for Credit Builder Persona
    Takes improving their finances seriously and wants recognition for using credit responsibly See more cards
    Credit Builder

This credit card is best for someone who’s looking to build credit with a card that doesn’t require a credit check or even a bank account at all to get started. Secured cards in general don’t require good credit to be approved, but they’ll usually still check your credit. The OpenSky Secured card stands apart in that it doesn’t run any credit check at all.

Not having any credit and not having a bank account often run hand-in-hand, and if that’s you, this might be another good reason to consider this card. It’ll be easiest to make your security deposit with your bank account debit card. But if you don’t have one, you can use a Western Union transfer or get a check made, too, although a fee may apply.

Pros
  • No credit check needed

  • No bank account needed

  • Reports to three credit bureaus

Cons
  • No rewards

  • No FICO score

  • No path to move up to a better product

Pros Explained

  • No credit check needed: Many secured credit cards require a credit check, which further dings your credit score and may result in a rejected application. Because this card doesn’t, you eliminate the worry of further credit damage or a rejection. 
  • No bank account needed: Unlike most other cards, you won’t need a bank account to get started. You have several options to fund your account, although some of those options may charge modest fees.  
  • Reports to all three credit bureaus: You don’t always get a say in which credit bureaus your creditors report your information. But with the OpenSky Secured card, your payment information will be reported to all three of them, building your credit in all the places it counts. 

Cons Explained

  • No rewards: Some other secured cards offer cash-back rewards on your spending. The OpenSky Secured card doesn’t.  
  • No FICO score: The whole reason you’d be interested in this card is to build your FICO score, and indeed, many other secured cards offer you a free monthly update as a way to see your progress. Sadly, this card doesn’t come with that perk. 
  • No path to move up to a better product: If you choose a larger, more well-known issuer you can often simply upgrade to a better card once your credit is better without closing down the account. This helps preserve your credit score. Not so with this card; if you close down this account once your credit is better you may see a dip in your score that you’ll have to work to overcome again. 

How to Get the Most Out of This Card

The OpenSky Secured Visa card is meant to be a stepping stone. You'll know you've reached the next step when you're comfortable managing your card responsibly and your credit score has improved, which you'll need to keep track of through a free credit score service since you don’t get access to your credit score through OpenSky. 

Remember the following basic credit-building principles as you use this card: 

  • Keep your balance below 30% of your credit limit
  • Pay on time every month
  • If you have to pay late, do so within 29 days of your due date

Once your account is 30 days past due, your credit score may drop.

It's best to transition to a better card as soon as you're comfortable and able so that you can start building credit outside of a secured card with an annual fee. 

Customer Experience

You can contact OpenSky customer service by phone or access your account through your card’s online platform or the OpenSky Mobile app.

Security Features

Since this is a Visa card, you get zero liability, card replacement, and fraud protection that comes standard with all Visa cards. However, the card lacks some common industry security features like the ability to lock your card or two-factor authentication. 

Fees to Watch Out For

The OpenSky card interest rate and annual fee are right around what you'd expect for a secured card. However, there are several fees that are out of the ordinary. You'll pay $10 to make an expedited payment by phone, $3 to get statements mailed to you and $5 to receive copies of paperwork already mailed to you.

Next Steps
For OpenSky® Secured Visa®Credit Card
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CURRENT CARD
OpenSky® Secured Visa®Credit Card
overall rating
2.5
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Poor - Excellent
Regular APR (%) 17.39% variable
Annual Fee $35
Minimum Deposit to Activate $200
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. CFPB. "Understand Your Credit Score." Accessed Sept. 25, 2020.

  2. myFICO. "What Are the Different Categories of Late Payments and How Does Your FICO Score Consider Late Payments?" Accessed Sept. 25, 2020.

  3. OpenSky Secured Visa. "OpenSky Secured Visa Credit Cardholder Agreement." Accessed Sept. 25, 2020.