Visa OpenSky Secured Credit Card Review [Updated 2019]



Promising to deliver “all the benefits of a Visa,” the OpenSky Secured credit card is for people looking to establish a credit history or rebuild their credit score.

While it doesn’t come with any real perks to speak of, the Visa OpenSky Secured card places the focus squarely on the cardholder’s credit.

The major selling point of this card is that there’s no credit check required to get your hands on it. There is no credit check when you apply, which means there’s no impact to your credit score.

The reason there’s no credit check is because you must put down a refundable security deposit at the time you activate the credit card. The security deposit can range from $200 to $3,000.

And how much credit you have on the OpenSky card is linked directly to the security deposit. Provide a security deposit of $500 and there will be a $500 credit limit on the card.


  • No credit check required
  • Low annual fee of only $35
  • Comparatively low set APR of 19.39%


  • No rewards program
  • Security deposit required to activate the card


If you’re looking for rewards from a credit card, then you best keep on looking. The Visa OpenSky Secured card offers no rewards to cardholders. No travel rewards. No cash back. Nada.

Beyond promising a four-step application process that can be completed in less than five minutes, the Visa OpenSky Secured card provides no real benefits at all to people.

It does report your credit activity each month to the primary credit bureaus in the U.S. –  Equifax, Experian, and TransUnion. And that reporting is what helps you to quickly build a positive credit profile, which can be helpful in the future. But if you’re expecting some type of rewards program, then you’re looking at the wrong credit card.



There are annual and transaction fees with the Visa OpenSky Secured credit card. However, the fees are comparatively low when stacked up against other credit cards.

The annual fee for this card is only $35 – a small amount when you consider that many rewards-based credit cards come with annual fees in excess of $400.

The standard annual fee for US credit cards is $100. So paying $35 a year is not likely to break the bank. Still a $0 annual fee would be best.


In terms of transaction fees, you’ll pay $6 or 5% of the amount of each cash advance taken out on this card, whichever is greater, as well as a 3% charge for each foreign transaction made with the card.

The Visa OpenSky Secured card also enforces penalty fees of $27 for any and all late payments, and $25 for any returned payments. Again, these fees are lower than the industry standard, but they’re fees nonetheless. Keep an eye on when payments need to be made and don’t take out too many cash advances.


The annual percentage rate (APR), or interest rate, charged on the Visa OpenSky Secured credit card is 19.39%. That APR applies to all cardholders regardless of their age or credit score. Unlike non-secured credit cards, the Visa OpenSky Secured does not offer an APR range of say between 10% and 25% depending on your creditworthiness.

As this is a secured credit card meant for people with no credit or terrible credit, there is no APR range. Still, the APR of 19.39% is among the lowest for secured credit cards. Other comparable cards charge APR above 24%.

Another positive to note is that the APR charged on cash advances is also 19.39%. The APR is not higher on cash advances as is the case with many credit cards. You’ll pay the same interest rate on cash advances as you do on purchases.

This is good news as it will help keep interest payments down as you work to build or rebuild your credit with the major credit bureaus.


There are very few features on the Visa OpenSky Secured credit card beyond the nuts and bolts that have already been outlined. You can set-up email alerts to remind you when to make a payment, or let you know when you’re nearing your credit limit.

There’s also the ability to set up recurring automatic payments to ensure that this credit card is paid on time each month. And, you can review your available credit limit online prior to making any big purchases. These features are pretty basic and come standard with most credit cards.


People with decent credit who do not need a secured card, and people who expect a rewards program to be attached to their credit card should not get the Visa OpenSky Secured credit card.

The OpenSky enables people to get a credit card quickly without a credit check. Used responsibly, the OpenSky card can help people who have not previously had a credit card build their credit history or rehabilitate the bad credit scores of people who’ve had problems with debt in the past. The Visa OpenSky Secured credit card offers few other benefits beyond these ones.


Another credit card you might consider is the Discover It Secured card. The Discover It Secured is similar to the Visa OpenSky Secured card. Its main focus is to help people with no credit or bad credit build a positive credit report.

However, the Discover It Secured card has no annual fee and provides rewards to cardholders in the form of cash back earnings. Plus, there are no transaction fees with the Discover It Secured card.

On the downside, the set APR rate on the Discover It credit card is higher at 25.24% than the 19.39% charged on the Visa OpenSky Secured credit card. But if you’re interested in cash back rewards and like the idea of $0 annual fee, then it might be worthwhile to checkout the Discover It Secured credit card.


The Visa OpenSky Secured card can be acquired easily with no credit check and has a comparably low APR. However, there’s an annual fee attached to this credit card (albeit a small one of $35) and you will have to put down a security deposit to get your hands on the Visa OpenSky Secured card.

All of this could be worth it if you have no other way to get a credit card. Once your credit is established or you improve your scores with the credit bureaus, you may want to look for a higher end credit card that is unsecured, offers an APR range based on your credit rating and provides you with some rewards.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.