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568 Cardholder Reviews

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PROCEED WITH CAUTION Helpful to 202 out of 209 people

Yes, it's great to be able to get a secured card and rebuld your credit.  Yes, the card application process went smoothly. Just be aware that it takes 6-8 biz days for your payments to be applied to your account and available for your use. This is not disclosed in the card agreement, nor is it stated when you make your payment online.

When you make your payment online the site says it will be credited to your account within 2 business days. Turns out that AFTER THAT the bank puts a 5 day hold on it, which is why you are looking at a 6-8 business day delay.. If you call the card customer service dept. they tell you this has nothing to do with the card but is a policy of the banK and therefore there is nothing they can do about it. 

Now in the big scheme of things this isn't horrible. But I was counting on using this card tomorrow (the 5th biz day after making my payment) for a car rental and now have to figure out an alternative. I spoke with 2 customer service reps about the lack of disclosure on this, and their attitude basically was: too bad. They weren't very nice about it, which tells me they probably get this complaint a lot.

When you make a payment, you lose the use of that money for up to 8 business days every month while the bank uses it for free.This is the real reason this secured credit card is offered.

I might have been OK with the policy if I had known about it - which is why I am posting this review so others will not be caught by surprise.

Dec 27, 2013 Reply
Helpful to 123 out of 129 people

 I've had PSB since June 2010 and it is a great card. Yes it does have some drawbacks (never coverts to unsecured, and the timely crediting of payments) but I chose it because I wanted a much larger credit line than Orchard or Capital one was offering. I have two cards, one with $2K and the other with $1K. I went through the same frustration of having my payments credited timely even when I paid it through ezcard. My first billing was annual fee which Ipaid immediately, but the next two statements were $400+ and $1300+. which i paid in full and it took day to update my credit line, even afte rmy bank credited the payment. I called and talked to so many CSRs who gave me the spiel about other card holders, blah, blah, blah. FInally a CSR must have slipped and told me any ayment under $100 is credited immediately. (Is everyone listening) So on my next statement i did just that, I paid incremental payment througth excard at $95 at a time. It's a hastle but now when I pay my bill no matter the amount, I have access to my credit limit (MY MONEY) within 48 hours. The first 24 hours shows payment pending and by midnite the next night it shows processed and my credit limit is updated. This was very important to me because I was using the two cards to pay eveything and then would pay off the balance before my paper statements would even arrive. I think PSB is great for rebuilding credit if you can overlook the fact that you will never get any interest nor will it turn into an unsecured card. This card is for serious people who want to swiftly rebuild and still want a higher credit line than the other secured cards. I hafe a Cap One with a $500 credit limit that I alternate to buy gas and that has a automatic line increase ever so many months. My credit karma score is 644 and i just pulled a equifax that was only 1 point higher than CK was. Not moving as fast as I thought I would but that's because I have a discharged chap 13 BK from 2008, and two car payments that were not included in the BK, that I'm in a fight with Suntrust to report paid as agreed. One month it will show correct, then when I oull a report it will be right back to the way it was. Enough of me, get this card if you are serious about rebuiding and if you are making payments greater than $100 do multiple smaller payments of $95 to make your entire months payment. Just make sure it is UNDER that $100 amount.

Good luck and thanks PSB.

Freebie61

freebie61's review was:    

  Jun 28, 2011 Reply

freebie61(4, 123)

Review by freebie61

4 Contributions 123 People Helped

Helpful to 21 out of 24 people

This card sounds awful.  There are much better options.  Capital One is pretty laxed when it comes to approval odds.  I have 3 cards with them, and when you pay, they credit your account the NEXT day. 

NAGOL1020's reply was:    

  Sep 04, 2013

NAGOL1020(2, 21)

Review by NAGOL1020

2 Contributions 21 People Helped

Helpful to 15 out of 18 people

Please keep in mind, the terms of this card have changed dramatically since this review was written. Open Sky has never done anything that they didn't clearly announce, but what they have clearly announced is so far removed from the original design of this card, it's no longer recognizeable. 

BirthdayBuick's reply was:    

  May 30, 2013

BirthdayBuick(1, 15)

Review by BirthdayBuick

1 Contributions 15 People Helped

Helpful to 7 out of 9 people

lol. A previous poster said OVER $100, but you obviously have the experience. Thanks for the head's up! Wonder why the Bank would set it up this way. Seems like it just adds to their administrative expense. Hmmmmm, maybe not. In today's day and age I suppose everything is electronic. Still it seems like it would add significant pages to printouts.  Oh, who knows. Guess that's why I'm not a banker!

Where's that PSB expert?

pafaye's reply was:    

  Oct 03, 2012

pafaye(5, 8)

Review by pafaye

5 Contributions 8 People Helped

Helpful to 1 out of 1 people

What is an excard and ezcard?  What is PSB?  Are they the same as Captial Bank?  Why so many different names?

kellymed's reply was:    

  Mar 05, 2013

kellymed(5, 69)

Review by kellymed

5 Contributions 69 People Helped

Helpful to 11 out of 18 people

A little insight to payments under $100. The reason I suspect the post quickly is due to the fact that any larger amount is put into collections. This is a process banks and lenders used to verify funds. The company sends in a request to verify funds. This sounds simple, but to the banks its a 10 day process that can not and will not be spend up. Even if you show it processed through your bank the bank is still holding those funds before giving to the lender to verify the account does not go into overdraft and the funds needed elsewhere. It protects the lender from having to pay fees for transactions that come back NSF. Needless to say, I do not blame them due to the fact that their customer base is people who have not kept their word in the past or have messed up their 'good word' (credit) in some way.

Txboyd's reply was:    

  Dec 26, 2012

Txboyd(3, 20)

Review by Txboyd

3 Contributions 20 People Helped

Absolutely Amazed....!!!!! Helpful to 63 out of 65 people

Hi Everyone... If you are reading this email and on this site, you and I am more than likely in the same boat of trying desperately to rebuild or credit.  I began with Credit Karma in July with a score of 542....began reading reviews and helpful tips, surfing the web for rebuilding credit, etc.  Once I realized I could rebuild myself without paying someone else, I became more focused. (Not to say I did not reach out for their services, I just didn't sign up)  I began paying off accounts in collections, bringing bills current such as my car note, furniture bill, and a personal loan I have which brought up my score 10 points in 2 months.  I noticed that I needed to establish credit to build credit. Well, I applied for Capital One and was denied.  Wow, another hard pull....Then I came across OPEN SKY...No Credit check, just some minor verifications and it was done......Once I received my card (after approx 3 weeks) I used it only a few times.  My report date falls on the 3rd of the month.(everybody will be diiferent).  When I checked my score it had rose 60 points!!!!!........so now my score is 612....!!!!! talk about happy and ecstatic....I am elated...I am now even more focused to continue my journey. My target goal is 700-750 and now that i know what I need to do, I am sure to get there. Open Sky is awesome!!!  I cant brag enough about it.....I WILL be purchasing my first home within a year....Thank you OPEN SKY for helping me rebuild my credit....!!!!

Nov 07, 2013 Reply
Only as a last resort Helpful to 60 out of 62 people

As people have said there is no grace period. If this is the only thing you can qualify for, go for it. Then only use it to buy a cup of coffee or a big gulp once a month and pay it off in full. Don't get this card to use like a normal credit card, only for building credit and buying your soda once a month.  

sirjinx's review was:    

  Oct 13, 2012 Reply

sirjinx(1, 60)

Review by sirjinx

1 Contributions 60 People Helped

It is what it is Helpful to 45 out of 46 people

Customer service through emails was prompt and informative.  They patiently gave me all of the information I needed.

It costs $50 a year.  More expensive than some and less expensive than many.

Interest starts the moment you put a balance on the card so pay the $50 balance it comes with the moment you get the card.  (note that you will still be charged the $1.00 minimum interest fee)

Buy coffee and gas once a month near the statement date and pay the statment off immediately.

Enroll online for the paperless statement and bill pay through your bank account.  openskycc.com.

These guys are not fast so you have to plan your payments ahead, and remember this is NOT a credit card, it is a credit rebuilding TOOL.

As soon as you get a good enough score get a non secured card and cancel it.

kellymed's review was:    

  Mar 31, 2013 Reply

kellymed(5, 69)

Review by kellymed

5 Contributions 69 People Helped

OPEN SKY IS A SCAM!!! PLEASE READ Helpful to 81 out of 87 people

OPENSKYCC.com is a scam! They took over my account from Public Savings Bank and changed the terms and conditions and tried to raise my interest. My credit score has gone up 146 points since I originally opened this account 3 years ago. OPENSKYCC also changed the terms and conditions of my bill date. My bill is due on the 28th of each month and I have a minimum payment of 25 dollars. On the 29th I paid them 70, on the 30th I paid them 30 and on the 28th they gave me a late fee. Why? According to OPENSKY the billing cycle doesn't close til the 5th, so my early payment became late and a 25 dollar late fee was attached. Plus, they tried to raise my interest! SCAM SCAM SCAM. I reported them to the FCRA for illegal billing practices, my Debt Solutions Attorney also said they are a total scam, I am trying to improve my credit, not have it destroyed. AVOID THIS COMPANY!

Jan 14, 2013 Reply
Helpful to 6 out of 7 people

That is how credit cards work.  If you're making a payment early (Before the bill closes) you need to advise them and make sure they will apply it as a payment on the bill that has not yet generated.  

Sysadminwatdo's reply was:    

  Nov 23, 2013

Sysadminwatdo(1, 6)

Review by Sysadminwatdo

1 Contributions 6 People Helped

Helpful to 10 out of 13 people

 if you make an additional payment within the given cycle it will look as just an additional payment to your principal balance. That is how all major credit cards work. Good luck going forward!

JessGarci84's reply was:    

  May 06, 2013

JessGarci84(1, 10)

Review by JessGarci84

1 Contributions 10 People Helped

Helpful to 7 out of 14 people

Dear Customer,

Thank you for your review. We are very sorry to read about your experience. To address your specific situation, please send us an email to customercare@capitalbankmd.com  with your contact information and we will contact you directly.

Capital Bank is a reputable and respected bank whose success is built on honest and fair practices. Capital Bank and the Open Sky Card program complies with the required 45 day notice to cardholders before implementing change in the terms. During the 45 day window, customers who object to the change in terms are able to opt out of the change and close their account. The billing due date is not a change we made, however, customers can request a change to their billing due date by contacting our 24-hour Customer Service line at 800-859-6412.

Open SkySM Card

OpenSkyCard's reply was:    

  Apr 05, 2013

OpenSkyCard(3, 9)

Review by OpenSkyCard

3 Contributions 9 People Helped

Helpful to 2 out of 7 people

Dear Customer,

Thank you for your review. We are very sorry to read about your experience. Can you please send us an email to customercare@caitalbankmd.com with your contact information? We would like to discuss your feedback and research the issue with a late payment fee.

Capital Bank is a reputable and respected bank whose success is built on honest and fair practices. Capital Bank and the Open Sky Card program provided 60 days’ notice to all cardholders before changing the terms on the account. During the 60 day window, any customers who objected to the change in terms could close their account. The billing due date has not been affected by the change in terms. If any customer would like to make a change in their billing due date, they have the ability to do so by contacting our 24 hour customer service line at 800-859-6412.

Open SkySM Card

OpenSkyCard's reply was:    

  Apr 05, 2013

OpenSkyCard(3, 9)

Review by OpenSkyCard

3 Contributions 9 People Helped

Just cancelled my card with them Helpful to 43 out of 45 people

I got the card to improve my credit several years ago. Used it very rarely and had an automatic payment set up so I never missed a payment. Apparently they no longer accepted my autopayment so I missed the new $75 annual fee (on a $300 secured card). They then tacked on a $30 late fee. I called and they said they sent a notification. This may be true but they seem to change terms so frequently that unless you plan on reading every fine print line of all your mail, I wouldn't recommend this card.

I just cancelled my card. Now I have to pay them $105 in fees so that I can get the $300 security deposit back (which they told me takes 30 days until they "start the process". That make any sense to anyone else?

Dec 10, 2013 Reply
Does what it is supposed to do Helpful to 31 out of 32 people

I read alot of the reviews and was concerned about it, however the month after initial reporting my credit score jumped 62 points, while it does take 5 days for a payment to clear, and return the payment amount to your credit limit, however you have 28 days from when the statement is posted to when it is due, which should be adequate for people if you are using it as intended, build credit.

KnightedR82's review was:    

  Oct 07, 2013 Reply

KnightedR82(1, 31)

Review by KnightedR82

1 Contributions 31 People Helped

After my bankruptcy, I had this card Helpful to 35 out of 37 people

I secured it with $300, should have used a higher dollar amount. You see the credit utilization really zaps your credit at such a low limit. Had the care for several years then it changed to Open SKY. If you have had to start over rebuilding your credit, and if you are like me, have to have complete control the this card may not be for you. I LIKE PAPER, and they started charging me for my statements. The only way I do direct drafts or electronic payments is if it benefits me in some way. A bonus for using their payment system, or a reduction in intrest if I set up auto pay etc. So if I do not get a perk for electroinic management, I just don't do it. If a company tries to force me into it by charging me a fee then I rebel and cancel the card. My cancelation process with OPen sky was not a good one. Took them several Months Dec to end of April to send my money back, and only after a phone call everytime I received a statement. They did eventually work it our fairly but I had to be persistant. The card will help with building your credit. It  will really help if you put down a large depoist so you credit utilization stays low. If you cancel the card be dilgent in seeking your depoist back.

Damon

Damon1121's review was:    

  May 12, 2013 Reply

Damon1121(2, 37)

Review by Damon1121

2 Contributions 37 People Helped

From Public Savings to Capital Bank... Helpful to 23 out of 24 people

I had the unfortunate pleasure of inheriting this card when Public Savings Bank filed for bankruptcy and Capital Bank took them over. Ever since, there has been a monthly fee just for owning this card, and their recent migration from the older "ezcardinfo" system to their own caused an outstanding (interest-baring) balance, even though I had followed their instructions for clearing my balance and making a payment which reflected as a zero balance under the older system.

After contacting a customer service representative, I found out why. It turns out that interest under OpenSky is calculated on a DAILY basis after the debit is placed on the account, REGARDLESS OF PREVIOUS BALANCE. I asked her to explain this a few times, just to make sure I understood it correctly.

"So even though I paid the previous balance in full and these debits where made after the previous balance was paid in full, I am being charged interest?”

"That is correct: we charge interest on a daily basis after the charge has been posted.”

"So let’s say I pay the amount in full for this month, would I still have to pay interest on the pending transition (made yesterday) once it clears?”

"Yes, because interest in calculated on a daily basis…”

So, I’m not sure if this was a recent change or if they simply want to drive their secured customers away, but I will NOT be using this card any longer. Fees are one thing, but calculating interest on a daily basis when I make the previous balance statement in-full is quite another. Credit shoppers beware and as others have said; be sure to read the terms before committing to anything. Unfortunately I had no choice, as the FDIC moved us under Captial Bank.

Public Savings Bank was an amazing secured card with no fees, but it, along with similar cards no longer seem to be available, so if you must go with a secured card, make sure to keep the balance as low as you can, continue to pay off the entire balance every month AND GET YOURSELF AN UNSECURED CARD AS SOON AS YOUR SCORE WILL ALLOW IT.

RogueNewbie's review was:    

  Nov 12, 2012 Reply

RogueNewbie(2, 24)

Review by RogueNewbie

2 Contributions 24 People Helped

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Card Details

  • Balance Transfer Intro APR Not
    Applicable
  • Balance Transfer Regular APR 17.50%
  • Purchase Intro APR Not
    Applicable
  • Purchase Regular APR 17.50%
  • Annual Fee $29
Learn More Visit Application Page

Cardholder Rating Distribution (568)

  • 37%
  • 16%
  • 14%
  • 5%
  • 27%

Open SkySM Secured Visa® Credit Card

Balance
Transfer
Purchase
Intro APR
Regular
APR
 

N/A

N/A

17.50%