Rebuild Your Credit Fast With the OpenSky Secured Visa Credit Card

By Kris Majaski. Last updated 18 June 2020. 0 comments

This post contains references to products from our advertisers. We may receive compensation when you click on links to those products. The content is not provided by the advertiser and any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain. Please visit our Advertiser Disclosure to view our partners, and for additional details.

Like many secured credit cards, the OpenSky® Secured Visa® Credit Card card allows those with no credit or bad credit, to carry a credit card and build a positive credit rating in the process. Although not as well-known as the secured cards provided by other banks, this card includes features and rates which are slightly better than other secured cards and are important to consider when choosing a secured credit card.

How This Card Works

This card does not require a credit check, which minimizes inquiries on your credit report that can decrease your credit rating. When you make your deposit of $200 to $3,000, you'll be issued a card with a credit limit equal to your deposit, minus the annual fee of $35. You can use the card just as you would any credit card and can increase your credit limit when you add funds to security deposit. Your account activity and payments are reported to the three major credit bureaus, which helps establish a positive credit rating when your account is managed responsibly.


No credit checks. You can qualify for even if you've had bankruptcy or other credit problems in the past. There are no credit checks required to qualify for the card, which is a benefit, especially if you don't want to add any extra credit inquiries to your credit report.


Deposit does not earn interest. The security deposit with this card is held while you have your card, in the event that you default on the balance. However, it does not earn interest while it is being held. (See also: 5 Best Secured Credit Cards That Pay Interest on Your Deposit)

Foreign transaction fee. Foreign transaction fees are common with secured credit cards. But if you travel abroad frequently or make foreign purchases often, the fee can end up being quite costly. (See also: 5 Best Secured Credit Cards with Low or No Foreign Transaction Fees)

Who This Card Is Best For

The OpenSky Secured Visa is a great card for building or rebuilding a positive credit rating, because there are no credit checks for qualification.

Click here to apply for the OpenSky® Secured Visa® Credit Card now!

Average: 3.4 (35 votes)
Your rating: None
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.