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OpenSky® Secured Credit Visa® Card

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3.7 out of 5 stars
183 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

3.5 out of 5 stars

3.5 5

Card Details

  • Balance Transfer Intro APR Not Applicable
  • Balance Transfer Regular APR Not Applicable
  • Annual Fee $35
  • Purchase Intro APR Not Applicable
  • Purchase Regular APR 17.64%* Variable

Our Take

The OpenSky® Secured Credit Visa® Card is a good choice for people who are looking to build their credit without paying too much in fees.

What to Like

The OpenSky® Secured Credit Visa® Card reports regularly to all 3 major credit bureaus, making it useful for building credit. The $35 annual fee is relatively low for a card aimed at people with limited credit history, and there are no other processing, servicing or application fees. There’s no credit check for applicants, and the 17.64% APR is competitive for a card made for low score users.

Look Out For

There’s a slightly higher penalty APR for cardholders who have missed a payment. This is also a secured credit card, meaning you’ll have to put down a deposit equal to your credit line in order to get access to credit.

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Most Helpful Positive Review

Feb 01, 2016
This card is strictly for rebuilding credit
vas22 Cardholder

The application and approval process was very simple and fast and was approved in seconds. Best way to get card fast is if you have bank account and you pay your deposit through your account. I received my card in 7 days and when you receive it and open up your online account your 35 yearly fee is already deducted from your card balance. Pay it immediately! Its the price to pay to get back in and play. It takes a while for your payment to clear and get your balance back and also the website is very elementary. Your score will go up but my rule of thumb is to not use anymore than 20% on card and pay it immediately. This is NOT a card for pleasure or for benefits and the card in reality sucks but im not in this for fun...purely business. My goal is to recover my credit post bankruptcy and this card is the tool I am afforded to accomplish that and only option I had. If you have horrible credit and just want to build a new foundation for yourself this card is for you. If you have options with credit cards than this is not the card for you. If you pay your balance off immediately after using it than you should be clear of any interest. Use this card wisely and remember your goal! Hope thus helps.

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Most Helpful Negative Review

Aug 25, 2016
I wish someone had told me...
elbrant Cardholder

I've had this card a little over a year now. I try to remind myself that it is only a tool in my toolbox. And bearing that in mind, they are very good at reporting your balance and payment data every month. But here are a couple of things that you may benefit from knowing:

1. They report your balance/data near the end of the month (the 28th or so). That's when they do mine. Ask them when they do yours. Make your payment so that it processes through before your reporting date, then don't add anything else to the account until after the reporting date. Your balance will be lower, and your utilization percentage will be it's most favorable, at that time than any other time during your billing cycle. Make sense?

2. The only way to get your secured deposit back is to close the card.

3. The only way to get a credit increase is to deposit more money into your account.

4. If you get frustrated and close your account, it's going to affect your CR in a negative way. Primarily because you have reduced your overall creditworthiness (one less open account). I have one, my son has one. I think once I've accumulated a few other accounts for 2+ years, my CR will be strong enough to take the ding from closing the account.

So, that's what I've learned first hand from having this card. And what I wish someone would have passed on to me. It's a good "last resort" to have in your toolbox, just remember it is a tool and the goal is to get better cards down the line.

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These reviews were written by current and former cardholders in the last year.

Nov 26, 2016
It only took seconds for approval!
Anonymous Cardholder

Only took seconds for approval! I'll check my credit score in a couple of days and see how well it jumps!

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Nov 22, 2016
Definitely a good credit booster
Desirez Cardholder

I have this card now. Before I received the card in the mail my score went up 40 points! The process to pay for the bill is a bit tedious but not horrible. Meets my expectations. Customer service is very nice and available when you need them. I would refer this card to a friend. They report to the bureaus the last day of the month so be careful to pay the balance at least a week before then.

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Nov 19, 2016
Horrible web site and customer service.
Dustendbly Cardholder

I tried paying my bill early on their website they tried charging the wrong account. Then tried charging me a fee for the website trying to charge the wrong account, they blame it on me when it was clearly their websites fault if you care about your credit I would avoid this website and this card like the plague. If I could leave 0 Stars I would. I will give them one chance to make it right but I doubt they will.

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Nov 19, 2016
Gotta start somewhere
Anonymous Cardholder

I recently applied for this Opensky CC in Sept/2016. It took a few weeks to learn whether or not I would be approved. It kept telling me to check my application to find out. Finally I was approved with a 431credit score; however that's no consolation because everyone is approved! There is no credit check. I deposited $200. It took about 3 1/2 weeks to get my card. My credit score already jumped 23 points. My ultimate goal is to become a home owner. Building & keeping your credit good is a start. To be cont....

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Nov 18, 2016
Descent
reyahdilz Cardholder

I got approved right away with a low 500 score. My score jumped maybe a good 40pts or more when i began using it. Ive kept the balance low and and paid on time. Score hasnt really moved up since. Im applying for another card

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Nov 17, 2016
Read before you deposit money here!!!
Tra59er Cardholder

I put $1000 on this card!

They immediately charge you $35 and that was fine for me, i just went on and paid it!

I added my bank info to the website so i can pay my bill easily.

I began to use the card, I made my first $175 payment on 11/11/16!

They did not take the money from my bank account until 11/14/16!

The money is STILL not reflected in my available balance and it is now 11/17/16!

They say the money takes up to 5 days to become available!

They also said that sometimes It may take longer for them to take the money from my bank account initially.

SO, Once you make a payment, It can take 7-10 days before you have access to that money! FYI

If you deceide you dont like these protocols! You can choose to close your account.

HOWEVER!!!!! It will take up to 6 WEEKS for you to receive a CHECK in the mail returning your money.

I have 6 credit cards! chase freedom, capital one, wells fargo secured card, credit one, kohls and open sky!

Open sky is the ONLY card i have, that operates this way.

If you call and complain, they will say, "Its not about open sky. They will say is about how long it takes your bank, and them to work together!

NOT TRUE! Because, EACH AND EVERY one of my other cards...

If i make a payment TODAY, the money will be taken from my bank and i will see the adjusted available balance on my credit card within two days.

Mostly the next day, but two days MAX!!!! And two days is very rare from my experience.

In conclusion, If you decide to get this card, its great because they WILL most likely give you the card and it will help you build your credit.

Its AWFUL, becasue they take FOREVER to give you access to your money even after they already have it!!!!!!

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1 Reply
Nov 19, 2016

I had this card for over a year now. After 6 months of on time payments, payments start clearing the next day and my crdit limit is back up within 2 days. And I have no problems with payments or customer service!

 
Nov 16, 2016
No issues
KrisCowin Cardholder

I've had this card about 6 months now. No issues except for slow payment processing. But that is ok. My credit cards are merely in my wallet to build my credit scores.

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Nov 15, 2016
Serves its purpose...
Anonymous Cardholder

This card basically serves its purpose, but it really works. I had horrible credit. From collections to judgements. 6 months of minimal use with good payments and I'm on the road back with average credit. I recently just was approved for 3000 credit line with Cap one. 

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Nov 15, 2016
Reports timely!
RebuildRobyn Cardholder

It was a bit difficult to obtain the card, with slow communication on the documentation needed BUT once I received the pre-funded card, it has been easy to use, with payment options available online directly from your bank account or you can always mail it in.

One thing to note, it does take 6 days for a payment to post, so be sure to back-date your payment date so you are always on time.  The company reports every couple of days, so your account with the 3 CBs will be current...it is a great help if you are rebuilding.

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‡ Average score refers to the arithmetic mean and typical low score to the 5th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from June 2014 through November 2014. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

OpenSky® Secured Credit Visa® Card