When I graduated from college, coming out of the Great Recession, getting a full-time job felt like a Catch-22. Everywhere I looked seemed to require one to two years of experience for entry-level roles, yet to get those years of experience, I needed a job.

You might face a similar situation if you have bad or limited credit, which you’ll sometimes hear called “subprime“. You want a credit card to improve your credit score, but you haven’t had any luck getting approved because of that credit score. 

The good news is that I eventually found an employer willing to hire me for my first real media job, and there are credit cards that are willing to approve you. With the opensky® Secured Visa® Credit Card, the main trade-offs for an easy application process are that you need to put down a security deposit and pay an annual fee.

These trade-offs may be worth it because the opensky® Secured Visa® Credit Card offers a simple way to build credit, and it doesn’t even involve a credit check. There are many secured options out there, but the opensky® Secured Visa® Credit Card also has some unique features that are definitely worth a look.

We’ll go through the application and all of the fee details together in this review. And by the end, you should know if the opensky® Secured Visa® Credit Card can work for you.

The opensky® Secured Visa® Credit Card is built for people who need a fresh start and want an easy on-ramp. It’s issued by Capital Bank, N.A., but there’s no underwriting process with this card. Instead of judging your reports and scores, the opensky® Secured Visa® Credit Card focuses only on your deposit to open the account.

opensky® Secured Visa® Credit Card

APPLY HERE »

• Earn up to 10% cash back on everyday purchases
• No credit check required – 89% approval rate with zero credit risk to apply!
• Boost your credit score fast—2 out of 3 opensky® cardholders see an average increase of 47 points after 6 months
• Track your progress with free access to your FICO® score in our mobile app
• Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
• Seamless payments—add your card to Apple Pay, Google Pay, and Samsung Pay
• Start with just $200—secure your credit line with a refundable deposit
• Fast and easy application—apply in minutes with our mobile-first experience
• Flexible payment options—pick a due date that works for you
• More time to fund—spread your security deposit over 60 days with layaway
• Join 1.6 million+ cardholders who have used opensky® to build better credit!

• See official application, terms, and details.

Our Rating

opensky® Secured Visa® Credit Card

4.6/5.0

About this rating

BadCredit.org’s secured credit card ratings are based on our experts’ evaluation of APRs, fees, deposit requirements, credit building resources, and issuer reputation. We also consider cardholder benefits, upgrade potential, and customer support. Our ratings are unbiased and regularly updated.

Ashley Fricker Senior Editor

Close

★★★★★

4.6

Application Length	Interest Rate	Reports Monthly	Reputation Score
9 minutes	23.89% (variable)	Yes	7.0/10

While the opensky® Secured Visa® Credit Card does charge a $35 annual fee, that just serves as the price of admission for credit-challenged applicants into (or back into) the world of credit, with no credit check, I might add.

If a bunch of your other applications have been rejected, a set annual fee can be a manageable trade-off for a credit card that can help boost your credit score.

What “No Credit Check” Really Means

Many credit cards let you prequalify without a hard credit check. At that stage, they perform a soft pull that doesn’t affect your credit score and let you know if you’d likely be approved for the card.

The opensky® Secured Visa® Credit Card skips the credit check, relying on the security deposit to set your credit limit.

In other words, there’s not really much credit risk for the issuer, since it can just take your deposit if you default. That’s why this card is such an easy entry point for those with no credit history or for those rebuilding their credit. 

And you won’t see the initial credit score dip that usually happens when a hard credit check shows up on your credit report. If your score is barely hanging in there, that can be a big relief, because every point matters. 

Security Deposit and Credit Limit 

The initial credit limit for the opensky® Secured Visa® Credit Card is entirely up to you. Well, not entirely, there is a maximum, but it is a dollar-for-dollar trade. 

Whatever you put down is your credit limit (minus any fees, which we’ll talk about later. The minimum deposit is $200, and the standard maximum goes up to $3,000. 

That’s nice if your cash flow is tight right now because you can start small. But as your finances grow, you can add more to boost your spending power, or just make your credit utilization ratio look solid. 

Credit utilization is one of the most important factors in your credit scores, and the lower your balance compared to your overall credit limit, the better you look to lenders and credit card issuers. 

But you can also earn a credit limit increase without having to add any more funds. After your first six months of on-time payments, the bank will review your account for an automatic increase.

It also conducts reviews every three months after that, so your responsible card use could actually lead to this card becoming a hybrid between a secured and unsecured card. Credit limit increases aren’t guaranteed, but if you get one, you’ll know you’re on the right track.

So, this card gives you plenty of flexibility in terms of choosing your credit limit, but it is your job to keep a cushion between your balance and that limit. If you say, “Well, that’s my money, I paid the security deposit, and I want to spend it all!”, you could find yourself paying a lot more than what you put down as a security deposit.

That’s because the opensky® Secured Visa® Credit Card is still a credit card, so it comes with an APR and other costs you should know about.

Credit Reporting

All of your opensky® Secured Visa® Credit Card activity is reported to the three major credit bureaus — Equifax, Experian, and TransUnion. While the card is accessible and has some perks, this tri-bureau reporting is the real MVP of getting your credit scores back on track.

That’s because those three major credit bureaus are the ones that produce the credit reports that creditors, lenders, and even landlords look at. Every single time you make an on-time payment on your opensky® Secured Visa® Credit Card, positive information flows out to your credit reports. 

So if you use your card while following best practices like keeping your credit utilization ratio under 30% and paying your full balance every month, you can likely see a credit score improvement over time.

According to opensky®, the average cardholder sees a 47-point credit score bump after six months of on-time payments. 

While the opensky® Secured Visa® Credit Card does charge a $35 annual fee, it’s helpful to put that in perspective by seeing what you get in return.

When you’re trying to claw your way out of a financial hole, fees are never fun. But in the subprime world, many other credit cards also tack on monthly maintenance fees or application processing fees that can add up quickly.

At least a flat $35 annual fee keeps your ongoing costs predictable.

The opensky® Secured Visa® Credit Card also has a variable interest rate that is on the lower end of what subprime products charge at 23.89% (as of the time of this writing). Keep in mind that “variable” means it’s tied to the prime rate, so it can rise depending on what’s happening with the economy. 

When you’re trying to claw your way out of a financial hole, fees are never fun. But in the subprime world, many other credit cards also tack on monthly maintenance fees or application processing fees that can add up quickly.

But compared to many other subprime credit cards with APRs that often rocket past 28% or even 30%, the opensky® Secured Visa® Credit Card’s rate is actually quite reasonable. If an unexpected emergency forces you to carry a balance for a month or two, this card won’t hit you as hard with interest as many of the alternatives. 

While easier said than done, you really don’t want to be carrying a balance, though, especially if you’re trying to build or repair your credit score. And if you go into this process with a good financial mindset and the discipline to practice good credit habits, the APR might not matter. 

That’s because if you pay the entire balance off before your due date, you don’t get charged any interest because of your grace period. 

Some other fees to note for the Secured Visa include: 

• Cash advance: Greater of $6 or 5% of the amount 
• Foreign transaction: 3% of the amount in U.S. dollars 
• Late payment: Up to $41 
• Returned payment: Up to $40 

Many of these are standard in the industry, but you really want to be careful with that late payment fee. If you have a $200 credit limit and don’t pay on time, that late fee is more than 20% of your overall credit line. 

For a secured card, the opensky® Secured Visa® Credit Card has some pretty strong perks and features that can help offset the annual fee. A lot of credit-builder cards are bare-bones, with no perks other than access to the card and account. 

One benefit is that you can get up to 10% cash back on your purchases, but this does depend on what offers are available at the time. It’s not like credit cards that have flat cash back rates for certain categories. 

Pro Tip: You may need to activate a cash back deal and/or complete the terms of an offer, such as spending a certain amount at a specific retailer. The reward opportunities are available through a rotating list of national brands and local shops. 

Now, don’t go buying stuff you don’t need just to get rewards points or cash back, obviously. But if you happen to earn enough cash back on things you were buying anyway, you could at least wipe out the cost of the annual fee. 

Mobile Features and Customer Support

You can use your opensky® Secured Visa® Credit Card on your mobile device by adding it to your Apple Pay or Google Pay digital wallet. That means you may not even need to dig out your card when checking out at many grocery stores or gas pumps.

The mobile app makes it easy to manage your account from your device, and you can use it to get upcoming payment reminders and set up autopay.

The app’s dashboard gives you a quick view of your current balance and remaining credit limit. It’s handy for keeping tabs on purchases so you don’t accidentally max out your card.

And if you ever need help understanding any features, tools, or fees, opensky® has a thorough FAQ section on its site that answers a lot of basic questions, but if you need more detailed support from a human, you can call 800-859-6412. 

When I called on a recent weekday afternoon, it only took four minutes to connect with a live support agent on the phone. They answered my question quickly and courteously. 

With subprime cards, customer support can be hit-or-miss, so I’d consider speaking to a live agent after only four minutes as a win. 

Because it doesn’t check your credit, almost anyone can qualify for the opensky® Secured Visa® Credit Card. Nearly 90% of applicants get approved, and there are only a few reasons why you wouldn’t qualify. 

The main requirements include: 

• Being a U.S. resident 
• Being at least 18 years old 
• Having a valid Social Security number 
• Having a monthly income exceed your monthly expenses 

If you don’t meet these requirements, or if you don’t seem to have enough income or assets to cover monthly card payments, you may be denied. But given the high approval rate, this is unlikely. 

Another wrinkle is that you can’t qualify if you already have two or more open credit card accounts with Capital Bank, or your relationship with the bank isn’t in good standing. 

But you should certainly know if that’s the case well before you apply. 

A Step-By-Step Look at the Application 

Given that there’s no credit check, and that practically anyone who meets the minimum qualifications can be approved, there’s not much suspense in the application. 

But there are still a few bits of information I need to enter before I can open my account. Here are all the steps you’ll see in the application process. 

Editor’s Note: This application information is for informational purposes, and no application was submitted for this review. 

Step 1: Name, Email, and Phone Number 

First, I see a form saying I’m pre-approved, which asks me for some basic identifying info. This includes my name, email address, and my mobile phone number. 

I then get a text to verify my mobile number before moving on to the next step.

Step 2: Income and Monthly Housing Payment

Next, the application asks for some basic financial information. I see a field for entering my monthly housing payment, as well as my total annual income, which is likely used to confirm I can make credit card payments each month.

Step 3: Choose Your Deposit (and Credit Limit)

After that, you can choose your credit line amount based on how much you want to put down as a security deposit. It has options for $200, $300, and $500, but also allows me to choose a custom amount if I want.

Step 4: Name (Again), Birth Date, and Social Security Number

Then the application asks me for a bit more identifying information, including my name (again), my birth date, and my Social Security number for verification purposes.

Step 5: Review Your Information

This is where the application pauses to allow me to review the information I submitted for accuracy. If anything looks wrong, I simply click “I need to make a change” and edit that field.

Step 6: Choose Where to Mail the Card

Next, there are a few more logistical steps for me to complete, including confirming where I want the card sent. This auto-populates with my current address, but it also allows me to opt for a P.O. Box or a rural route address instead.

Step 7: Funding the Security Deposit

This is where I choose how I want to add my security deposit. One rare policy is that you don’t need a checking account to apply for or fund the card. 

I can also choose to fund it later using cash, money order, or Western Union transfer. If I select that option, I’ll get an email explaining the process. But just understand that the card won’t even ship until the account is funded.

Step 8: Read the Fine Print and Submit

Finally, there are a few important disclosures to review, which include information about the variable interest rate, fees, and other account details. I also review the E-Sign Consent form and the terms and conditions before checking off those boxes.

Once I’m done, I can click “Submit Application” and move forward with the process.

Altogether, the application is intuitive and takes only a few minutes to complete. It’s nice not to have to click through endless screens asking for detailed employment information or include all sorts of stuff about my credit history.

A long, complicated application can be a deterrent for some, but you don’t have to worry about that here. 

The opensky® Secured Visa® Credit Card is ideal for someone who wants a level of certainty about being approved. If your credit report has major negatives — like a bankruptcy or recent charge-offs — most standard secured cards will still turn you down.

But this card skips the credit check, so you can rest easier knowing you aren’t gambling your credit score on an application that might end in a rejection.

If you are tight on cash, you might be willing to pay the $35 annual fee for this card because it lets you get started with a $200 minimum security deposit. But if you have a traditional bank account and an average credit score, you may choose to put your money toward an option that doesn’t charge a yearly fee.

Granted, if you’re concerned about high interest rates, you might find the 23.89% variable rate on the opensky® Secured Visa® Credit Card reasonable compared to some other subprime options. But if you’re carrying a significant balance, it could be hard to rebuild your credit, so there might not be much point in getting a secured card anyway

If that’s the case, you may want to go a different route, such as signing up for a service that reports bills like your rent and utilities to the credit bureaus, to boost your score. Or, you might qualify for another secured card with a lower minimum deposit and lower fees from a different provider.

The easy qualification makes the opensky® Secured Visa® Credit Card appealing, and the costs, like the annual fee and APR, aren’t bad for a subprime card like this.

But if you’re in a credit repair or credit-building situation, every dollar counts, so you should weigh all of the benefits and drawbacks before making a decision.

The combination of paying the annual fee and tying up cash for the deposit could make this card fall out of contention for some people. But you don’t have to worry about approval based on your credit score, and you don’t get dinged from a hard credit pull.

So, whether or not this card belongs in your wallet will depend on your current situation and your plan moving forward.

If you’re in a situation where you have $200 for a security deposit, you’re comfortable with the $35 annual fee, and you need a credit card quickly, you could apply for the opensky® Secured Visa® Credit Card now and probably be happy.

But it is always good to shop around for other options. Here are two similar secured cards to consider: 

The secured Chime Visa® Credit Card

Qualifying for The secured Chime Visa® Credit Card involves opening a bank account via Chime®; there’s no minimum security deposit, no annual fees, and no interest.

Instead of a traditional fixed deposit, you move money from your Chime® checking account into your card account to set your spending limit dynamically.

The secured Chime Visa® Credit Card

APPLY HERE »

• No minimum balance requirements*
• No credit check**
• 2% cash back on category of choice with direct deposit***
• The perks of credit building meet the best of banking****
• Chime Checking Account required to apply for the Chime Visa® Credit Card

• Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. *Money added to Chime CardTM will be held in a secured deposit account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month. **Out-of-network ATM withdrawal and over the counter advance fees may apply. ***With a qualifying direct deposit, earn 2% cash back on category of choice on eligible secured Chime Visa® Credit Card purchases. ****On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Results may vary.

• See official application, terms, and details.

Our Rating

The secured Chime Visa® Credit Card

4.8/5.0

About this rating

BadCredit.org’s credit card ratings are calculated by our financial experts based on key criteria including APRs, fees, and approval odds. We also consider factors such as customer service and cardholder benefits. Our ratings are unbiased and regularly updated.

Ashley Fricker Senior Editor

Close

★★★★★

4.8

Application Length	Interest Rate	Reports Monthly	Reputation Score
5 minutes	N/A	Yes	9.5

It’s a highly flexible system, but it does require you to fully transition your everyday banking into the Chime® ecosystem. If you are unbanked, prefer dealing in cash, or want to keep your primary checking account where it is, the opensky® Secured Visa® Credit Card may be a better option.

That’s because opensky® completely bypasses the banking requirement, allowing you to fund your security deposit with a cash money order or a Western Union transfer without opening a brand-new checking account.

The Capital One Platinum Secured Credit Card has no annual fee, and you have the choice between a minimum security deposit of $49, $99, or $200. Capital One may also increase your credit limit to be higher than your security deposit amount, so it could become a hybrid between a secured and unsecured card.

While Capital One lets you check your eligibility without a credit check through pre-approval, it still has some strict rules. For example, if you have an active bankruptcy proceeding or unverified income, that’s an automatic denial of your application.

The opensky® Secured Visa® Credit Card can be a safer alternative if you are navigating severe credit issues. Because it waives the credit check entirely during the application process, it offers an approval safety net that most major banks can’t match.

While a $35 annual fee should be considered when you are rebuilding your finances, the opensky® Secured Visa® Credit Card serves an important function. If your credit score has you locked out of mainstream credit cards, or if you don’t have a traditional checking account, this is one of the most accessible cards available. 

It trades an annual fee for a credit-check-free path toward an improved credit score.

If you’re trying to build your credit from scratch or rebuild it after some mishaps, it’s understandable if you’re eager to get a new card. Just know where you stand, financially.

If your score is high enough to pass a standard credit check for a card from a major issuer like Capital One, that might be a good option. But if you need better approval odds without the credit check anxiety, the opensky® Secured Visa® Credit Card can help you get started on the path to a higher credit score.