SKYPASS Visa Secured Credit Card Review

By Kris Majaski. Last updated 7 January 2021. 0 comments

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Korean Air is the largest airline in South Korea, providing flights to over 130 cities. Its SKYPASS rewards program allows frequent flyers an opportunity to earn valuable miles which can be used for a wide range of flights and benefits. The SKYPASS Visa Secured Credit Card goes one step further and not only allows you to earn miles from the purchases made with the card, but also gives you the chance to build or rebuild your credit rating with a secured credit card. (See our picks for the best secured cards available.)

If you frequently fly with Korean Air or are a fan of the SKYPASS program, and you are in the process of either establishing or reestablishing your credit history, the SKYPASS Visa Secured Credit Card is a card you should consider.

How This Card Works

When you are approved for the card, you must make a deposit of $300 to $5,000, which is held in an account that earns interest. You receive your card with a credit limit in the amount of the security deposit. Your account activity is reported to the credit bureaus, which helps to establish a positive credit rating when you manage your account responsibly. After 12 months, your account is evaluated and you may qualify for an unsecured credit card.

You earn one mile for each dollar spent with the card, with no cap on the number of miles you can earn. Miles expire in ten years if unredeemed.

You can redeem miles for flights and upgrades with Korean Air. You can also redeem for access to airport lounges, as well as for award flights and upgrades with SkyTeam Alliance Airlines, which includes airlines such as Delta, Air France, and AeroMexico. There are a number of other ways to redeem SKYPASS miles, including for hotel stays and rental cars.


Rewards program. Most secured credit cards do not include rewards programs for earning points or miles. You can earn one mile for every dollar spent, without worrying about specific purchase categories or categories that change every quarter. 

Deposit earns interest. The security deposit that is held while you are an account holder, earns interest, allowing you to earn a little extra while you are building or rebuilding your credit rating. Not all secured credit cards allow you to earn interest while the deposit is held, and in those cases you receive exactly what you started with when you close the account — less any outstanding balances or fees. (See also: Secured Cards that Pay Interest on Your Deposit)


Annual fee. The annual fee can be costly if you aren't able to use your miles or take advantage of the bonuses. (See also: Secured Cards Without Annual Fees)

Foreign transaction fee. If you use your card for foreign transactions, you are going to lose any value you might have earned from the rewards program. For those who frequently travel abroad or make foreign purchases, secured cards without foreign transaction fees are better options.

Who This Card Is Best For

The SKYPASS Visa Secured Credit Card is best for those who are just starting out or are in the process of rebuilding credit, and frequently travel with Korean Air. It is important that you are able to take advantage of the bonus opportunities for the fees and expenses attached the card to be worth it. If you are not specifically a SKYPASS fan, there are more affordable secured credit cards available with no foreign transaction fees, lower annual fees, and a lower APR.

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