Use It to Your Advantage
Okay so I see a lot of negative reviews that I think mostly stem from Open Sky not clearly communicating the process/when they report to bureaus etc. Here's the deal. If you want a boost in your score quickly, apply for the card around the 15th-20th of the month. Open Sky reports to the credit bureaus on the last business day of the month (then sometimes it takes a week or so after that for the bureau to reflect the change). It takes 3-4 days for your $200 (or whatever) deposit to go through, and for the card to be shipped, after approval. Your account isn't considered open until the date the card is shipped. The card comes with the $35 annual fee already tacked onto the balance and if you ordered your card mid-late in the month, that $35 won't be due until the end of the next month (but it will count towards utilization when reported to the bureus, which is a good thing, as long as you keep utilization under 30%. $35 out of $200 is 17.5%). Each month, your bill is due on the 28th. So to absolutely optimize the credit boost you can get from this card: order it around the 18th of the month. The card will probably ship out around the 22nd. Don't worry about paying the $35 fee the second you get the card - you can activate it with the $35 fee on there. Let the utilization work for you when they report to the bureus on the last business day of the month, then on like the 5th of the next month, pay the $35 off. Now, set up a monthly small charge, like Netflix or something, to come out mid month, and DONT use your card other than that monthly charge. When you get your bill in the beginning of the month each month, pay off the last month's balance in full. I've had the card for a couple months, and that's all I've learned from research/talking to their customer service. It's worked well for me so far!
CREDIT WENT UP A BIT
I applied for this card on June 28th with a 200$ security deposit and received it on July 7th. I checked my credit score on July 19th...not just through here but also through Experian and Transunion. Credit score went up 44 points! I will keep everyone posted in 6 months or less if I see a significant difference.
Website won't let me sign up for online access to pay bill what the heck!!
Horrible card
This card took over 2 weeks to get to me , payments take days to post , they hold your money 6months after you close the card . I emailed costumer service with a question and recived a response ......... 27 days later . What a joke !!! Go with capital one !!
Only good for rebuilding credit....
I got this card for the purpose of rebuilding my credit had it for 2 years, was working well then I moved had my mail forwarded to my new address, had a 0 balance on my account never received any mail or call from them, I check my credit report few months later had 3 late payments reported 30-60-90 days late, then the next month in good standing, so I called customer service they stated I didn't pay $27 annual fee so it counted as late payments then they closed account and kept my $300 deposit. I think that's pretty ridiculous seeing as I never had late payments, thank goodness I have a Capital One card it's much better in every way especially communication. If you do get this card watch your account like a hawk, when your credit score goes up and you qualify for unsecured card, close this one immediately hopefully you'll get your deposit back.
There payment process is horrible. Costermer service is not good. I tried to close a card and played off the entire balance and was told the card was closed and the secured amount would be mailed back in 180 days. Thought that was a long time to wait to get my own money back but said ok. 2 months later I got a notification that I was 2 months past due, the guy that took the final payment charged me 10.00 and never closed the account. So now there is a 2 month past due on my credit report. And the refund will take another 120 days. What a joke of a company. They also confirmed I would have to write the credit bureaus and dispute the late charges.
Difficult
It takes 6-8 business days for funds to post and be readily available to use
This is the worst ****ing company ever.
Customer service is ****ing horrible, the agents are in educated, improperly trained, rude, and has a lack of knowledge. I pay on the 14th of every month but I have to wait **** near 2weekes for them to Apply it to my available credit. Run from this company. If you have heart problems don't deal with this company. This company has given me migraines. Been waiting on my deposit back since February and it's now July almost August and still no deposit.
They only held my payments the first 3 or 4 months. I've never been late had a returned payment or questioned what was a clear policy on holding payments. It's been I've a year and all of my payments post and are available the next day whether I mail or pay online... I think it's about building a relationship
HORRIBLE
DO NOT GET THIS CARD! The only reason I chose THIS card is becasue they tell you that you do not need a bank account. I tried to make a payment and now they tell me I need a bank account. Then when I asked to cancel the card because I DON'T have a bank account they tell tha tthe balence must be at 0. So instead of them keeping the money I already paid them they want me to pay them again only to refund me money which can take up to TWO MONTHS. HORRIBLE CUSTOMER SERVICE. No response when my card took two weeks to get to me after multiple attempts in reaching them either. SAVE YOURSELF A WASTE OF YOUR TIME AND MONEY.
Smooth sailing
I would highly recommend this credit card for anyone who wants to raise their credit score in less than one month. In less than 30 days I noticed that all 3 of my credit scores jumped 50+ points. Seems unrealistic. But I am just speaking from my personal experience. I only did a $200 credit limit. And I plan on only using this credit card once a month. My plan is to only spend $20 a month (for gas) using my CC, no more no less. It's good to keep CC utilization down by 10%. I wouldn't recommend someone using the whole balance. The application process was easy. Keep in mind you will have to provide documentation to prove who you are and place of residency. Which should be no problem. In the near future I plan to increase my limit another $150 at the most. Keep in mind that you should pay your CC before the due date. That is my opinion. It does take about 6-7 business days for the payment to "post" to your account and to see your available credit limit has in fact changed and the money has been put back. I know it can seem like a hassle. But in the end it's worth it. No this CC company does not upgrade you from a secured cc to unsecured. So I suggest applying with another credit card company after you've applied with open sky and have had your card for sometime. So far I don't have any complaints. They will take your deposit right away even before you submit your document ion of proof of who you are. So don't be too alarmed. It did take about almost two weeks for my card to come.
How long did you have to wait until you got your card?
It took about two weeks for my card to come.
Can I pay my bill with a debit card?
Yes you can pay your bill using a debit card.