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OpenSky® Secured Visa® Credit Card review: An easily accessible way to rebuild your credit

This card takes a straightforward approach to credit restoration.

 /  11 min
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Bankrate rating
Rating: 3.1 stars out of 5

Bottom line

The OpenSky Secured Visa Credit Card is a solid choice for rebuilding your credit. The card has lenient credit requirements, and in some cases, you can be approved for this card with no credit history. While other secured cards have fewer fees and more significant perks, the OpenSky Visa card is a great place to start rebuilding your credit to get the cards you really want.

Best for low-interest credit-building
  • Cost of membership
    Rating: 2 stars out of 5
    2 / 5
    Ease of building credit
    Rating: 3.5 stars out of 5
    3.5 / 5
    Rating: 5 stars out of 5
    5 / 5
    Rating: 3.8 stars out of 5
    3.8 / 5
No Credit History
Recommended Credit


Intro offer



Annual fee

25.64% (variable)

Regular APR

OpenSky® Secured Visa® Credit Card overview

If you want to build your credit with a card, but you have bad credit or no credit history at all, your first step might be looking into secured credit cards. With the OpenSky® Secured Visa® Credit Card, you can be eligible for a credit line increase after six months with no additional deposit required.

Its simple application and lack of credit check can make a world of difference if you need a credit card after bankruptcy.

  • Credit Card Cash Back


    • Earn up to 10% cash back on everyday purchases

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Search

    Rates and fees

    • $35 annual fee
    • 25.64% (variable) percent ongoing regular APR
    • No purchase intro APR
    • No balance transfer intro APR

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Fair

    Credit-building features

    • Flexible credit limit
    • No credit check to apply
    • Reports activity to all three credit bureaus
    • Path to upgrade to the OpenSky® Gold Visa® Unsecured Credit Card

    Expert Appraisal: Typical
    See our expert analysis

OpenSky Secured Visa Card pros and cons


  • Checkmark

    This card reports your activity to all three credit bureaus, which will help boost your credit score when used responsibly.

  • Checkmark

    Since you can potentially have a credit limit of up to $3,000 with a matching deposit, you can more easily keep your credit utilization ratio low.

  • Checkmark

    With no credit check required, it’s possible to get this card even when you have no credit history.


  • Unlike many competitor cards, this card charges a $35 annual fee.

  • You can't take advantage of any welcome offers, which you can find on other cards.

Why you might want the OpenSky Secured Visa Card

The OpenSky Visa card is a decent option if you’re building or rebuilding your credit, as it has traditional credit-building features plus the possibility of a flexible credit limit and an upgrade to an unsecured card after six months.

Unsecured card upgrade: Eligibility for unsecured card within six months

One of the most appealing features of the OpenSky Visa Secured card is the potential to upgrade to the OpenSky® Gold Visa® Unsecured Credit Card after six months if you maintain a positive credit history while using the card. You don’t need to submit a separate application — OpenSky will automatically approve you if you meet its requirements.

The only catch is that you need to be invited to receive this unsecured card, which is exclusively available to OpenSky Secured Visa and OpenSky Plus® Secured Visa® cardholders. However, the card’s website has no clear information on the OpenSky Gold Visa's rates and fees, perks or benefits.

Credit limit: High possible limit is the biggest advantage

Having the flexibility to determine your credit limit with the OpenSky Secured Visa is a great perk, especially since you can have a credit limit higher than what is offered with some of the best secured credit cards.

With the OpenSky Secured Visa, you can set how much you can spend each month, with a maximum of $3,000, which is much higher than many other secured cards’ credit limits. Your credit limit is determined based on how much you deposit into the account. If you deposit less than $3,000 to start, you can increase your limit at any time by adding more money to your OpenSky security deposit.

Credit-building: No credit check, reports activity to all three credit bureaus

When you open an OpenSky account, the issuer won’t check your credit to determine if you qualify for the card. Instead, you’ll pay a security deposit between $200 and $3,000. You can get the deposit back when you close the account after you have paid your balance in full. Your deposit reduces the lender’s risk, which is why it doesn’t need to check your credit and ding your credit score with a hard pull.

OpenSky also reports all of your payments to the three credit bureaus — Experian, Equifax and TransUnion. This reporting will help you build your credit because your on-time payments with the card show up on your credit report at each of the bureaus. Just remember to avoid any late payments since this can significantly lower your credit score.

Why you might want a different secured card

Though the OpenSky Visa can help you improve your credit score, it's difficult to ignore the card's drawbacks, such as lack of perks and hefty fees.

Signup bonus: No welcome offer

The OpenSky Secured Card doesn’t offer a welcome bonus. Like many secured cards, it focuses more on helping you build your credit rather than delivering additional benefits. Once you get your credit built up and can qualify for a new card, you can always switch to a credit card that offers a traditional signup bonus. 

However, some secured cards offer welcome bonuses. For example, the Discover it® Secured Credit Card offers cash back rewards on purchases and has a one-of-a-kind welcome bonus that will match your spending dollar-for-dollar at the end of your first year with the card. You can essentially get twice the amount of rewards for regular spending in the first year. 

Cardholder perks: No notable benefits

The OpenSky Secured Card has several benefits for building credit and offers traditional Visa perks. Like all base-level cards branded with the Visa network, you’ll receive a list of staple Visa benefits, including $0 fraud liability, 24/7 pay-per-use roadside dispatch and 24-hour assistance if your card is lost or stolen and you need a replacement. In case you’re worried about potential identity theft, the ID Navigator tools you’ll receive can monitor the dark web for your personal information and alert you about any suspicious activity.

But aside from the Visa and credit-building benefits, the card offers no outstanding features that set it apart. Although these features are beneficial to the average credit builder, they focus mainly on managing your account. Other secured cards, even unsecured cards for limited credit, may offer richer perks than OpenSky’s standard features.

Rates and fees: A pesky and unwanted annual fee

The $35 annual fee for the OpenSky Secured Card is higher than most since many other secured cards have no annual fee. For example, the Discover it® Secured Credit Card has no annual fee and doesn’t charge a ton of extra costs. Meanwhile, the OpenSky Secured Visa has an annual fee and a 3 percent foreign transaction fee. 

However, the purchase APR is much lower than most other secured cards at 25.64 percent (variable), which is only a bit above the current average interest rate. Even better, it’s not a range of APRs, so what you see when you apply for the card is the APR you’ll get.

Other expenses to be aware of include a $6 or 5 percent cash advance fee (whichever is greater), a late payment fee of up to $40 and a $25 returned payment fee. These are typical costs for most cards, and you may not worry about some of them if you don’t use the card abroad or make late payments.

We tried it: Here’s what our experts say

Bankrate editor Steve Dashiell recommends the OpenSky Secured Card because it has all the benefits needed to help a credit-builder improve their credit score.

"While I didn’t use a secured card when I needed to rebuild my credit score,  I can attest that the OpenSky Secured Visa has all you need to get the job done. If you want to build credit, you really want three things out of your credit card: you want it to report to all three credit bureaus, you want it to have a reasonably large credit limit, and you want it to have as few fees as possible.

The Chase Freedom I used to build credit did all of these things, and the OpenSky Visa does nearly all of them just as well. The annual fee on the card is a sore spot, but depending on your credit score and financial history, you might think of it as the small cost of gaining the ability to rebuild credit.

If you qualify for a similar secured card that lacks an annual fee, go for it. But if you’re dedicated to building credit and confident in your finances, this card can be worth the price of admission."

— Steve Dashiell, Editor, Bankrate

How the OpenSky Secured Card compares to other secured cards

Despite the fact that other cards are less expensive and more rewarding, the OpenSky Visa is a solid, cost-effective option for building credit. That said, it may not suit everyone. You may find that one of its rival cards is a better match for your needs.

Image of OpenSky® Secured Visa® Credit Card
Bankrate Score
Apply now Lock
on Capital Bank's secure site

Annual fee


Intro offer


Rewards rate

Up to 10%

Recommended Credit Score

No Credit History
Image of Capital One Platinum Secured Credit Card
Bankrate Score
See Rates & Fees , Terms Apply
Apply now Lock
on Capital One's secure site

Annual fee


Intro offer


Rewards rate


Recommended Credit Score

No Credit History
Image of Discover it® Secured Credit Card
Bankrate Score
See Rates & Fees , Terms Apply
Apply now Lock
on Discover's secure site

Annual fee


Intro offer

Cashback Match™

Rewards rate

1% - 2%

Recommended Credit Score

No Credit History

Who is the OpenSky Secured Visa right for?

If you need to repair your credit or build it from scratch, the OpenSky Visa Secured Card might be an excellent option.

Bankrate’s Take — Is the OpenSky Secured Card worth it?

The OpenSky Credit Card works well if you need to build up credit, want a card for bad credit and a reasonable APR, or need an above-average initial credit limit, and you don’t mind paying an annual fee. If you’re worried you’ll carry a balance occasionally on your secured card, getting the lowest APR possible is a good idea. Plus, you’ll get a higher initial credit limit than several other secured cards (provided you can put down a high deposit) and the OpenSky Secured Visa doesn’t require a credit check. But if your credit score and financial history allows, you’ll want to look at your no-annual-fee options first. 

How we rated this card

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data points analyzed
fees tracked
Credit Card Reviews
perks evaluated

Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.

We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category. 

Here are some of the key factors that gave this card its score: 

Frequently asked questions

Written by
Re'Dreyona Walker
Associate Editor, Credit Cards
Re'Dreyona Walker is an editor for Bankrate and, focusing on product guides and reviews. As a personal finance expert, she is dedicated to providing honest product reviews as well as in-depth, comprehensive guides to assist readers in building credit and finding the best credit cards for their needs.
Edited by Senior Editor, Credit Cards
Reviewed by Former Editor, credit cards

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