OpenSky Visa secured card review

Issued by Capital Bank N.A., a member of the Federal Reserve Bank system, the Visa OpenSky is a secured credit card tailored to people with a poor credit score and offering a relatively low interest. These two features combined are enough to justify our choice: for this purpose, it may be one of the best cards available on market. Read on if you want to discover all the benefits you can obtain from it, and find out if can the best choice for you.

Overview: best for building credit and low APR

The OpenSky card is a product designed to give everyone the chance to hold a credit card. A big brake you typically find in the pursuit of a card is the credit score requirement: the vast majority of issuers ask a minimum score to qualify, but with this Visa card that’s no more the case. You can even get it with a 300 rating, and there won’t be any credit check; the absolutely unique fact is that the APR you receive revolves around a set percentage, regardless of what’s your score.

This is a secured card, which means you have to make a cash deposit as a collateral guarantee in case you won’t be able to make the repayments. As such, it is suitable for people in a subpar financial status: if you had to pay loads of taxes, or made mistakes that impaired your credit rating, a secured card like OpenSky is a valuable solution.

It doesn’t require that you have a bank account, and it is easier than nearly every other credit card to qualify for.

You can use it for everyday purchases, while you build your credit: this is a win-win combination if you want to be proactive about your financial shape.


How does the OpenSky Visa Card work?

First, here are the numbers of this card at a glance.

Credit limits $200-$3,000 (equals to deposit)
Purchase APR
17.39% variable
Balance transfer APR
Annual fee
Other fees
Late payments, returned payments, foreign transactions, cash advances, inactivity fee
Minimum credit score


To start using the card, the credit limit you get will initially correspond to your own deposit: you can put down an amount from as little as $200 up to $3,000, and whichever sum is refundable. This is quite the norm for a secured credit card. If you need a larger credit, you can add further of it afterward, but this will require that you have improved your credit score in the while.

Indeed, you can use this card to build or enhance your current credit: how much you put on the card, along with steady on-time payments, will do the trick.

There is a set interest rate, instead of a range of APRs: what will be charged on payments beyond the canonical grace period is a variable 17.39%: this is slightly higher than the average APR on a credit card but definitely low for what you can get with credit below the threshold of a fair rating.

The OpenSky Card comes with an annual fee of $35: this means barely just $3 a month for maintenance, which is less than what several cards apply. However, that’s not the only one: there will be also a late payments fee of up to $38, an up to $25 fee for returned payments, and 5% for cash advances. As for foreign transactions, there will be a fee of 3%, as well.

This card doesn’t grant rewards: you just use it and make payments, but no bonuses. It has instead some interesting perks: $0 fraud liability, which is an edge if you seek safety, and supplementary auto rental insurance.

Your activity with the OpenSky Visa Card is reported to all the three major credit bureaus: Experian, Equifax and TransUnion. As a consequence, making full and on-time payments will build your credit fast: it is reported that barely all the customers with no credit to start with were able to build it within 6 months from using the card.

In case that you want to close your card account in the future, you will be refunded your deposit amount, provided that you paid your balance in full.

Is the OpenSky Visa Card right for you?

You can easily determine if the OpenSky Card fits your needs: take a look at our summary of highlights and drawbacks, then make your considerations.


Where the OpenSky has an edge over most other cards is in letting you qualify despite your credit score, indeed it puts you on the path of increasing it. Its 17.39% APR is low for a borrower with a poor credit score, and the yearly fee is small. if you think you will make only minimum payments, you may want to leverage these benefits.

If you have bad credit, that is to say, anything below a 580 FICO score, it’s almost certain that you’ll find high APRs (typically beyond 20%). A 17.39% is even not too far from the average rate which is applied to card for good scores.

Making the largest deposit possible, you’ll benefit the most as for improving your credit rating. While building your credit score might not be the main purpose for getting this card for you, it will turn useful to qualify for and obtain reduced rates on financial services like auto loans, mortgages, and even to be eligible for other credit cards which offer rewards.

As a plus, the OpenSky Card might also come into play in the case of car accidents: you are entitled to get coverage for damage to a rented car (working as secondary auto insurance). You will be also assisted in the event your car held stuck on the road: by directly calling Visa, the company will send you a specialized servicer, avoiding the hassle of finding one.

If you are new to credit, on the card website (link: you can also find educational resources that will help you making a more informed decision.


The absence of rewards might disappoint you: just putting down your own credit and using it without cashback can be quite frustrating for some people. As a secured card, how much you can borrow depends directly on how much you can deposit: this is probably the main flaw of this card.

However, you will have the chance to increase the limit above the initial constraint, as you improve your credit, and this can happen in a matter of six months as a minimum.

If you are able to substantially increase your score until you are in the range of a good score, you’ll be able to qualify for another unsecured card with possibly a lower APR and that offers rewards and higher credit limits. This is of course recommendable, so we can’t say the OpenSky Card is a great choice after many years of use.

Instead, you won’t be able to switch the OpenSky Visa Card to unsecured.

How do you apply to get the OpenSky Visa Card?

Everyone with the following requirements can go on the website (link: and submit a request, which takes just 5 minutes. If you are a customer of Capital Bank, you can ask them directly. To be eligible to an OpenSky Card account, you need to provide just basic information:

Since there is no credit check, there won’t be any (hard) pull on your credit score: applying won’t affect it.There’s still chance to be denied, if your income is too low, or under special circumstances, but unlike most of other cards, your score won’t be a limiting factor.

We couldn’t find how much time is needed for the card for deliverance, but you can reasonably expect a range of 7-14 business days, with the shortest timelines if you already have a bank account.

How is the OpenSky Visa Card rated?

Truth be told, the OpenSky Card boasts not a good reputation among customers, from what can be read online on various platforms, like here(:

You can also read lots of opinions and advice on the dedicated Facebook page, where it is easier and faster to reach current customers, so as to solve your doubts.

In general, there are several reports of subpar customer service and complaints of issues of different kinds. We strongly advise you to take a tour of reviews and decide if you want to take the risk. For every potential issue, you must relate to Capital Bank N.A., which is an established institution, so you have at least the guarantee that your money is safe.

So, why do we recommend this card? From our extensive research, we found it has quite unique useful features, the most important giving you the chance to rapidly improve your financial condition, and it is very easy to get.


The OpenSky Visa Card caters to poor credit borrowers and no-credit holders. It is a great option for building your credit, and financing your immediate needs simultaneously.

If you couldn’t qualify for other cards (or personal loans) because of poor or damaged credit, or even no credit at all, but you still need a quick financing option for small-to-large-purchases, or to pay bills, the OpenSky Visa Card is your way to go: using it responsibly will avoid unwanted fees. Besides, you’ll hardly find such a low interest for your credit status elsewhere.

However, the lack of rewards might make you lean towards other cards.

You may prefer other secured cards with no annual fee and offering cash back, or unsecured cards for good to excellent credit. In these cases, consider our alternative cards.