How Does Opensky Credit Card Work

OpenSky Secured Visa Review: How Does OpenSky Credit Card Work?

How Does OpenSky Credit Card Work and what do we think of the OpenSky Secured Visa?

There are many, many secured credit card options on the market today. Almost every single bank, credit union and fintech company offers some sort of “credit builder” credit card that helps people with bad credit raise their scores and eventually get approved for a regular, unsecured card.

How Does OpenSky Credit Card Work?

So, how does OpenSky credit card work, and how do secured credit cards work in general?

Well…secured credit cards are essentially “practice” lines of credit given to applicants who have a low credit score and a credit report with multiple delinquencies on it.

OpenSky does not do a credit check when they accept you as a cardholder. Virtually anyone can be approved, even people who have no credit history at all. This makes OpenSky one of the best credit cards for bad credit as there are literally no barriers to entry.

OpenSky allows their secured card members to put down a security deposit between $200 and $3000. So, it’s your choice as to how high your credit limit will be. If you are confident in your ability to pay your balance back each month then a higher amount would be safe, otherwise it would be wise to stick with a low amount like $300.

So how does OpenSky credit card work in terms of raising your credit score? Does OpenSky help build credit? After many months of use, you might notice your credit score start to rise.

With other secured cards, you would soon be able to graduate to an unsecured card within the same bank or company. OpenSky doesn’t allow this, so you will have to go to a different bank to get your unsecured card.

OpenSky Secured Visa: Pros and Cons

We’ve gone over the question of “how does OpenSky credit card work?”. Now we are going to address the pros and cons of carrying this particular card.


OpenSky does not require their secured card applicants to have a Capital Bank checking or savings account (which owns OpenSky). It’s very common for other banks who offer secure cards to require their customers to also open an account at their bank. OpenSky offers different ways to pay off your card beyond transferring from an Captial bank account.

You might be relieved to hear that OpenSky does not do any credit checks on their secured visa applicants. This means that anyone can get approved and even though you have a low credit score, you can still make steps towards building your credit back up.

One big plus of signing onto an OpenSky secured Visa is that OpenSky reports your progress to all 3 credit bureaus as you build your credit. Some credit cards only report to one. If you are looking to build credit fast, reporting to all three is essential.

OpenSky is flexible when it comes to the security deposit which a lot of people seem to like. You can put down as little as $200 and as much as $3000. It really doesn’t matter, as long as you are confident you can pay the balance off and won’t spend it too quickly.


How does Opensky credit card work as a stepping stone to unsecured cards? Well, OpenSky actually doesn’t allow secured card users to upgrade to a regular card because they don’t have one available. This is kind of annoying considering that having a longstanding credit account actually helps to build your credit up and improve your score, so closing the account will not be helpful in that regard.

The OpenSky Secured Visa charges a small annual fee ($35). It’s definitely not as high as some other secured credit cards which will often charge around $75-$100. If you find OpenSky to be a good choice for you based on other factors, then the annual fee might be worth it.

On that note…the OpenSky Secured Visa does not offer any sort of cash back or rewards. Usually, credit cards with annual fees will have some sort of rewards program on offer. OpenSky does not have this and it makes us wonder why they are charging an annual fee if there are no extra benefits included?

OpenSky’s customer service is limited and according to some customer reviews is kind of stuck in the stone age. The main point of contact you can find on their website is a mailing address. The phone number to reach them is on the back of your credit card. They don’t seem to have a live chat feature, so if reliable customer service is important to you, you might want to consider a different card.

Takeaways on OpenSky Secured Visa Review: How Does OpenSky Credit Card Work?

We have answered the question “how does OpenSky credit card work?” and also went through the pros and cons of carrying this card.

Based on what we’ve found, OpenSky could be really good option for someone who’s simply looking to raise their credit score quickly. The fact that OpenSky reports to all three bureaus is a plus (other credit card companies only report to 1 or 2) and their high approval rate means that almost everyone is qualified to carry an OpenSky Secured Visa regardless of their credit history.

If you are looking for value, rewards or the opportunity to open a long-term unsecured credit account, maybe go with a different company, as OpenSky does not have these attributes.

We hope you enjoyed our review of the OpenSky Secured Visa and how OpenSky credit card works. Still want to shop around for the perfect card? Click here to read our post on the 3 Best Credit Cards For Bad Credit.

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