With a relatively low APR and annual fee, the OpenSky Secure Visa credit card is a great card for those who have a bad and fair credit. You won’t win any prizes, but you’ll keep additional costs to a minimum and qualify for the card without credit check.
- 1 Important
- 2 Features
- 3 OpenSky Secure Visa Credit Card review
- 4 Features
- 5 No credit check required
- 6 First credit limit up to $ 3,000
- 7 Relatively low annual fee
- 8 Lower than average APR
- 9 Advantages of Standard Visa
- 10 Inactive account fee
- 11 Why buy OpenSky Secure Visa Credit Card?
- 12 How to use OpenSky Secure Visa Credit Card
- Credit control is not required to apply. OpenSky believes in giving everyone an opportunity.
- You can provide a refundable * payment, you have a credit limit on your Visa card. Your choice is as low as $ 200.
- Create quick credit. OpenSky reports to 3 major credit bureaus.
- 99% of our customers who started without receiving credit score have obtained credit rating in credit offices within a period of 6 months.
- We have a Facebook community like you; We have a forum for shared experiences and opinions of other people on our Facebook Fan page. (Search for “OpenSky Card” on Facebook)
- OpenSky offers credit tips and a dedicated credit training page to support you on our website.For details of the card, please see our Cardholder Agreement at the bottom of the application page.
- Car Rental Insurance
- Zero Fraud Responsibility
OpenSky Secure Visa Credit Card review
Annual Average Membership Cost ($ 3,600 annual spend) $ 35
Security Deposit 200-3000 $
First Credit Limit $ 200-3000 (equal to your deposit)
Access to Higher Credit Limit? Unspecified
APR 19.14% (variable)
Annual Fee $ 35
Other Fees And Fees
- Cash advance fee: 5%
- Minimum interest rate: $ 1
- Late payment: up to $ 27
- Refund payment: up to $ 25
- Foreign Transaction Fee: 3%
- Inactive account fee: $ 10 after 12 months of activity
$ 0 fraud liability, automatic rental insurance
When it comes to secure credit cards, OpenSky Secured Visa is a fairly standard option. Your first credit line is equal to a security guarantee and you can’t win any prize. Additional benefits are limited to this card, including basic information such as fraud protection and account alerts.
However, the low annual wage and the APR are reserved as a solid choice for those who have had to build their loans over time, but may still need to be able to carry a balance.
No credit check required
If you don’t have an ideal credit history or no credit history, OpenSky is a great opportunity to start creating your Secured Visa credit. OpenSky does not require credit control for the card application and offers the same APR and credit limit to anyone who approves it.
First credit limit up to $ 3,000
Like most trusted cards, OpenSky Secured Visa also requires a refundable security deposit to determine your initial credit line. The start of the interval is slightly lower than the average, $ 200, and you can deposit up to $ 3,000. If you have money for a larger deposit, this can make a huge difference to improve your credit score.
A disadvantage of this card is that it is not a policy to apply for an increase in credit limit. This means that you will be limited to the deposit you can get. If you cannot select a higher credit limit, you may want to consider a card with regular reviews for a credit limit increase.
Relatively low annual fee
Although true, there are secure cards at an annual fee, the $ 35 OpenSky Safe Visa fee is still relatively low. Many similar cards will charge $ 50 or even $ 75 per APRs. If the low interest rate is at the top of the priority list, this card may be worth investing.
Lower than average APR
Lower than average APR distinguish OpenSky Secured Visa from other secure cards. While cards designed for people with bad credit have a ratio of 20 or even 25 percent, OpenSky Secured Visa charges only 19.14 percent. Best of all, everyone approved for this card gets the same APR, so you don’t have to worry about falling into the high end of a range.
This few percentage points can make a big difference if you’re trying to increase your credit, but still need to carry a balance. Overall, 19.14 percent is still a high APR, so you’ll want to pay your bills as soon as possible.
Advantages of Standard Visa
OpenSky Secured Visa does not have any reward programs and only includes basic benefits. You will enjoy $ 0 fraud and automatic rental insurance, but not too much. If earning awards are important to you, this is probably not your best choice. Note, however, that credit cards with reward programs usually come with a higher APR.
Inactive account fee
OpenSky Secure Visa is not a card to open and forget. If you don’t have any transactions in your account for one year, you’ll be charged $ 10 per month as an inactive account fee. Continue making payments using this card – even the smaller ones – until you are ready to close the account.
Why buy OpenSky Secure Visa Credit Card?
- You don’t have a fair credit or credit history, and you need a card with a low obstacle to login.
- You need to carry a balance and a lower APR.
- Low wages and interest rates are more important than the rewards program.
How to use OpenSky Secure Visa Credit Card
- Get as much security coverage as possible to increase your credit limit and improve your credit score.
- Regularly pay to avoid an inactive account fee.
- Pay your balance in full when possible to avoid compensating for interest payments.