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OpenSky Secured Credit Cards Review: Finally, Credit Card Options Without a Credit Check

Review Updated
Steven Porrello
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Lyle Daly
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If bad credit or no credit has stopped you from getting credit cards in the past, OpenSky® might make you do a little happy dance. With an OpenSky® Secured Credit Card -- both the OpenSky® Secured Visa® Credit Card and the OpenSky® Plus Secured Visa® Credit Card -- you can apply without a hard pull on your credit. If you're looking to build or repair your credit, let's take a closer look at the OpenSky® Secured Credit Cards and see if one is a good fit for you.

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Ratings Methodology

OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: New/Rebuilding Under(579)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

New/Rebuilding Under(579)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

25.64%, variable

Rewards

N/A

Annual Fee

$35

Welcome Offer

N/A

  • A good option for new to credit applicants. The fact that there's no credit check could justify the annual fee for some cardholders Read Full Review

    • No credit check
    • Flexible credit limit
    • Reports payments to all three credit bureaus
    • Annual fee
    • No rewards
    • Minimum deposit amount
    • No credit check is great for building credit
    • $35 annual fee
    • $200 minimum security deposit

OpenSky® Plus Secured Visa® Credit Card

OpenSky® Plus Secured Visa® Credit Card
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good (670-850)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good (670-850)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

29.99%

Rewards Circle with letter I in it. OpenSky Rewards is a program that links offers from merchants directly to your enrolled card, allowing you to automatically earn cash back. Simply view your offers, use your enrolled card at participating merchants, and earn cash back.

Up to 10% cash back

Annual Fee

$0

Welcome Offer

N/A

  • Only a handful of credit cards will let you apply without a hard inquiry, and many are issued by OpenSky®. The OpenSky Plus® Secured Visa® Credit Card is one of those options, requiring no credit check, making it a perfect tool for building or repairing your credit. Read Full Review

    • No credit check required
    • Option to graduate to unsecured card
    • No bank account required
    • Reports to major credit bureaus
    • Annual fee
    • No rewards
    • Foreign transaction fee
    • No credit check to apply
    • Up to 10% cash back rewards
    • No annual fee
    • $300 minimum security deposit

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.49% - 27.49% Variable APR *Rates as of December 12, 2024.

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular: 19.24%, 24.24%, or 29.24% Variable APR

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 1.5 points per dollar Circle with letter I in it. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open.

Intro: Circle with letter I in it. 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.49% - 28.49% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular: 18.49% - 28.49% (Variable)

Apply Now for Bank of America® Travel Rewards credit card

On Bank of America's Secure Website.

Full OpenSky® Secured Credit Cards review

These credit cards are a good fit for: Credit builders who want an easy credit card to start improving their credit.

Top perks

Since OpenSky® Secured Credit Cards are designed for those with bad or no credit, they lack the strong rewards of other secured credit cards we've reviewed. Even so, they do have some noteworthy perks.

No hard inquiry required

That's right. As rare as it is to find a credit card that doesn't do a hard pull on your credit, OpenSky® doesn't require one for its cards. Instead of a credit check, it will use basic information that you provide -- like your monthly housing payment and total annual income -- to determine eligibility. Of course, approval isn't guaranteed. But odds are in your favor, as OpenSky® itself claims it accepts roughly 88% of its applicants.

Two secured credit card options

OpenSky® has two secured credit cards: the OpenSky® Secured Visa® Credit Card and the OpenSky® Plus Secured Visa® Credit Card. Here's how they differ.

Feature OpenSky® Secured Visa® Credit Card OpenSky® Plus Secured Visa® Credit Card
Annual fee $35 $0
Credit check required No No
Minimum security deposit $200 ($149 with limited time offer) $300 ($200 with limited time offer)
APR 25.64%, variable 29.99%
Cash advance fee $6 or 5%, whichever is greater $10 or 3%, whichever is greater
Foreign transaction fee 3%
Data source: OpenSky.

In sum, the OpenSky® Plus Secured Visa® Credit Card doesn't charge an annual fee, but has a higher minimum security deposit, whereas the OpenSky® Secured Visa® Credit Card has a lower minimum deposit but a $35 annual fee.

Graduate to an unsecured credit card

OpenSky® will periodically evaluate your account to see if you qualify for its unsecured credit card, the OpenSky® Gold Visa® Unsecured Credit Card. You'll get your security deposit back, and you might even qualify for a credit limit increase, too. OpenSky® claims you could graduate to its unsecured option with as little as six months of on-time payments.

No bank account required

Unlike most credit cards, you don't need a checking account to pay bills on your OpenSky® Secured Visa® Credit Card. Instead, you could pay by mailing a check or money order or by a Western Union money wire.

Reports to all three credit bureaus

Best of all, OpenSky® reports your credit activities to the major credit bureaus: Equifax, Experian, and TransUnion. This is instrumental in helping you build or repair your credit, as these are the three bureaus that will rate your credit activities with a score.

What could be improved

OpenSky® Secured Credit Cards may not require a credit check, but they have weaknesses you should be aware of.

No rewards

OpenSky® Secured Credit Cards don't earn points or cash back. While it's not unusual for secured credit cards to lack a rewards program, some of the cards we've reviewed do offer lucrative rewards. If that's important to you -- and you have decent credit -- you might want to compare credit card options before you make a decision.

Annual fee

The OpenSky® Secured Visa® Credit Card has a $35 annual fee that you'll pay in addition to the upfront security deposit. While this is lower than the annual fee on some secured credit cards, it's still something to consider, especially if you have decent credit and could qualify for a no fee card.

Foreign transaction fee

If you use your OpenSky® Secured Credit Cards outside the U.S., you'll get hit with a 3% foreign transaction fee. Other credit cards -- including many travel cards -- will let you make transactions in foreign currencies without paying any unnecessary fees.

Find the best credit card for your needs
Image of reviewer

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

Compare Cards

Suggested credit score

Your credit score isn't a factor when applying for one of the OpenSky® Secured Credit Cards. There's no credit check during the application process. It won't matter if you have poor credit due to issues on your credit file, or if you're credit invisible with no information on your credit file. Instead of a credit score, OpenSky® will look at your monthly housing payment and annual income to determine approval.

The application and approval process with OpenSky® can be slower than with other card issuers. Applications are usually processed within 24 to 48 hours. It's not a long time, but it's longer than usual, considering there are so many instant approval credit cards out there. In total, approval for the card, paying your security deposit, and receiving your card in the mail can take up to 12 to 14 business days.

An OpenSky® Secured Credit Card is right for you if:

  • You're building or repairing your credit.
  • You're unbanked but would still like a credit card.
  • You've been denied other credit cards because of your credit.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • The maximum credit limit for the OpenSky® Secured Credit Cards is $3,000 (subject to approval).

  • It usually takes 24 to 48 hours to process your application, but it can take 12 to 14 business days before your card is mailed to you.

  • No, a credit card security deposit doesn't earn interest.