The OpenSky® Secured Visa® Credit Card targets consumers with bad credit or no credit history who want to establish a payment record without a credit check during the application process. The card requires a minimum $200 refundable security deposit, charges a $35 annual fee, and carries a 23.89% variable APR.
OpenSky Secured Visa Credit Card Review 2026: Fees, Approval and Credit Building
According to OpenSky's advertised statistics, 2 out of 3 cardholders experienced an average credit score increase of 47 points after six months. The issuer also advertises an 89% approval rate and reports account activity to Experian, Equifax, and TransUnion. These figures reflect the issuer's promotional claims, not guaranteed results for every applicant.
Being in the finance spectrum for nearly 20 years, I've worked with clients who struggled to qualify for traditional credit cards because of past delinquencies, collections, and limited credit histories. One pattern stands out: access to credit is not the same as progress in rebuilding it.
With a $200 credit limit, a $100 reported balance equals 50% utilization, while $20 represents 10%. I advise clients to make small, planned purchases, pay their statement balance in full by the due date, and reduce balances before the statement closes to keep reported utilization low.
This review examines OpenSky's approval requirements, deposit, fees, credit bureau reporting, and credit-building features, with a focus on the actual cost of establishing positive credit history.
OpenSky Secured Visa Credit Card Review 2026: Fees, Approval and Credit Building
The OpenSky Secured Visa Credit Card skips the credit check. It charges a $35 annual fee, a 23.89% variable APR, and needs a $200 refundable deposit. The card reports to Experian, Equifax, and TransUnion every month. It fits people with no credit file or past denials, and it costs more than a no-fee secured option if you qualify for one.
This card skips the credit check. That's the main draw for readers with bad credit or no credit file at all.
It still charges a $200 minimum deposit and a $35 annual fee. The regular APR sits at 23.89%, variable. The card reports to Experian, Equifax, and TransUnion.
The issuer says two out of three cardholders gain an average of 47 points in six months. That's the issuer's own number, not a promise. Your result depends on your starting profile and how you use the card.
In nearly 20 years of credit repair work, I've seen a new card fail to fix the true source of a low score: old errors, late marks, or collections already on the report. Before you open any secured card, check what's already there.
A $200 limit also needs careful spending. A $100 balance on a $200 limit is 50% utilization. Even with on-time payments, high utilization works against you.
This review covers the card's fees, approval odds, credit reporting, and first-year cost. It compares OpenSky Secured against two sister cards, to help you pick the right one.
Key Takeaways
- This card skips the credit check and reports to all three bureaus.
- The card costs $200 upfront plus a $35 annual fee and a 23.89% variable APR.
- The issuer's approval rate is 85.91%, based on Q1 2025 data.
- A $200 limit turns small purchases into high utilization fast.
Is the OpenSky Secured Visa Credit Card Worth It?
Yes, for a narrow group of readers. With no credit file, a recent denial, or no way to pass a credit check, this card gives you working credit and monthly bureau reporting. Readers who qualify for a no-annual-fee secured card instead save money over time.
OpenSky Secured Visa Rates and Fees
| Term | Amount |
|---|---|
| Minimum deposit | $200, refundable |
| Annual fee | $35 |
| Regular APR | 23.89%, variable |
| Intro APR | None |
| Cash advance APR | 23.89%, variable |
| Credit check to apply | None |
Terms checked against the issuer's own page and card-data listings in October 2026. Confirm current terms before applying - issuers update rates without notice.
How Does OpenSky Work?
- Apply online. No credit check runs during this step.
- Fund your deposit, starting at $200. You get up to 60 days to pay it in full.
- The issuer sets your credit limit to match your deposit.
- Use the card for purchases, up to your limit.
- Pay your statement each month, on time and in full where your budget allows.
- The card reports your activity to Experian, Equifax, and TransUnion.
Does OpenSky Really Approve People With Bad Credit?
The issuer's own site reports an 85.91% approval rate, based on Q1 2025 data. That means close to 1 in 7 applicants gets denied. Approval depends on identity verification, income above your monthly expenses, and a clean account history with the issuer - not a credit score.
| Approval Factor | Requirement |
|---|---|
| Identity | Valid Social Security number or ITIN |
| Residency | U.S. citizen or permanent resident, 18 or older |
| Income | Monthly income above monthly expenses |
| Account history | No more than one open account with the issuing bank |
Considering OpenSky to Build Your Credit?
The OpenSky Secured Visa skips the credit check and reports to all three bureaus. It needs a refundable deposit starting at $200 and a $35 annual fee.
View OpenSky Offer and Apply Now →How Much Does OpenSky Cost in the First Year?
Here's the real first-year cost if you pay your balance in full each month and avoid interest:
| Cost Item | Amount | Refundable? |
|---|---|---|
| Security deposit | $200 | Yes, on account closing in good standing |
| Annual fee | $35 | No |
| Total out of pocket, year one | $235 | $200 of it comes back later |
Carry a balance instead, and the 23.89% APR adds up fast. A $150 balance carried for a full year at that rate adds roughly $35 in interest - close to doubling your true first-year cost.
Does OpenSky Build Your Credit Score?
The card reports your payment history and balance to Experian, Equifax, and TransUnion every month. Those two factors - payment history and amounts owed - make up most of a typical credit score. The issuer advertises that two out of three cardholders see a 47-point average gain in six months. That's the issuer's own figure, tied to its own cardholder base, not an independent study. Treat it as a best-case average, not a guarantee for your file.
What Happens at 50% or 90% of Your OpenSky Credit Limit?
Your starting credit limit matches your deposit, at $200. On a limit that small, ordinary purchases push utilization high fast:
The CFPB advises keeping balances low and paying on time to build credit with a secured card. Thirty percent isn't a guaranteed cutoff, but it's a widely used target. On a $200 limit, that's just $60. Pay down your balance before the statement closes to keep reported utilization low.
OpenSky Secured Visa Pros and Cons
Strengths
- No credit check to apply
- Reports to all 3 bureaus monthly
- Deposit starts low, at $200
- Deposit funding spread over 60 days
- Free FICO score tracking in the app
Limits
- $35 annual fee, every year
- 23.89% APR on any carried balance
- No intro 0% APR period
- Small starting limit raises utilization risk
- No published automatic graduation to unsecured credit
OpenSky Secured vs. OpenSky Plus vs. OpenSky Launch
| Feature | OpenSky Secured | OpenSky Plus | OpenSky Launch |
|---|---|---|---|
| Minimum deposit | $200 | $300 | $150 |
| Annual fee | $35 | $0 | $24 year 1; $36 after |
| Variable APR | 23.89% | 28.24% | 28.24% |
| Credit check | None | None | None |
| Intro 0% APR | None | None | None |
Secured has the lowest APR of the three, but it's the only one with a flat annual fee. If you pay in full every month, Plus likely costs less since it skips the fee entirely. If you expect to carry a balance sometimes, Secured's lower APR offsets the fee over time.
Who Should Consider the OpenSky Secured Visa?
- You have no credit file and need your first reported account.
- You were recently denied for an unsecured card.
- You want a lower APR than its own sister cards.
- You're able to fund the $200 deposit within 60 days.
Who Should Consider a Different Secured Card?
- You want zero annual fee - OpenSky Plus or another no-fee card fits better.
- You need a lower starting deposit - OpenSky Launch starts at $150.
- You already qualify for an unsecured starter card with no deposit at all.
How to Use OpenSky to Build Credit the Right Way
- Set up automatic payment for at least the minimum due.
- Pay the full statement balance when your budget allows it.
- Check your balance before the statement closes each month.
- Pull your credit report and fix any errors you find.
- Track your FICO score in the issuer's app to watch your progress.
The Card Isn't the Fix - Your Report Is
Nearly 20 years of credit repair work at ASAP Credit Repair has shown that a new secured card helps most once existing errors and old collections are addressed first. Check your full credit report before you count on one card to carry your score.
Want Your Credit Report Checked Before You Apply?
Old errors and unresolved collections affect both approval odds and how fast a new card helps your score. Our team reviews your reports and flags what needs attention first.
Get My Free Credit Analysis Now →Frequently Asked Questions
Does OpenSky Secured Visa require a credit check?
No. OpenSky skips the credit check for this card. You still need a Social Security number or ITIN, U.S. residency, and income higher than your monthly expenses.
What credit score do you need for OpenSky?
None. OpenSky doesn't set a minimum score. Approval depends on income, identity verification, and your account history with the issuer, not a score cutoff.
Does OpenSky report to all three credit bureaus?
Yes. OpenSky reports account activity to Experian, Equifax, and TransUnion every month.
Is the OpenSky $200 deposit refundable?
Yes, under normal account closing conditions. The deposit secures your credit line and comes back when you close the account in good standing, not as a reward or bonus.
Does OpenSky increase your credit score by 47 points?
That figure is OpenSky's own advertised average, not a guarantee. Two out of three cardholders reportedly gain 47 points in six months. Your result depends on your starting profile and how you use the card.
How long does OpenSky take to report to credit bureaus?
OpenSky reports monthly, the same cycle most card issuers use. Your first reported statement usually appears on your credit reports 30 to 60 days after account opening.
Does OpenSky Deny Applicants?
Yes. OpenSky's own approval rate is 85.91% as of Q1 2025 data, meaning roughly 1 in 7 applicants gets denied. Reasons include unverifiable identity, insufficient income, or an unresolved prior account with the issuer.
Does OpenSky graduate to an unsecured card?
OpenSky doesn't publish an automatic graduation path on this card. Confirm current graduation terms directly with the issuer before counting on an upgrade.
What is the difference between OpenSky Secured and OpenSky Plus?
OpenSky Secured charges a $35 annual fee with a 23.89% APR and a $200 minimum deposit. OpenSky Plus charges no annual fee but carries a 28.24% APR and a higher $300 minimum deposit.
Is OpenSky worth the $35 annual fee?
It depends on your situation. With no credit history and no way to pass a credit check elsewhere, the fee buys access and bureau reporting. Readers who qualify for a secured card with no annual fee pay less over time.
Related Reads
- Visa - OpenSky Card Listings (deposit, fee, and APR by card)
- OpenSky - Official Site (approval rate, score claim, bureau reporting)
- OpenSky - Rates and Fees Disclosure (PDF)
- Card terms cross-checked via NerdWallet as of October 2026