OpenSky® Secured Visa®

The OpenSky® Secured Visa® is a secured credit card issued by Capital Bank, N.A. and designed primarily for consumers who are building or rebuilding credit. One of its distinguishing features is that OpenSky states there is no credit check to apply. This can make the application process relevant for people with limited or damaged credit histories, although final account opening is still subject to the issuer's application, identity, income, residency, and other eligibility requirements. Because this is a secured credit card, a refundable security deposit is required. The standard OpenSky Secured Visa currently requires a minimum deposit of $200. The deposit generally determines the credit line on a dollar-for-dollar basis, and the issuer states that this card can be funded up to $3,000, subject to approval. The deposit is collateral for the account and should not be confused with the $35 annual fee. The current public product page and official pricing disclosure list a 23.89% variable APR for purchases. The APR varies with the market based on the Prime Rate. The disclosure provides a grace period of at least 25 days after the close of each billing cycle, and interest on new purchases can generally be avoided by paying the previous balance in full by the due date. Carrying a balance can still result in meaningful interest costs. The card charges a $35 annual fee. The current official disclosure also lists a cash advance fee equal to the greater of $6 or 5% of the cash advance, a 3% foreign transaction fee, a late payment fee of up to $41, and a returned payment fee of up to $40. These costs are important to consider alongside the required deposit. For credit-building purposes, OpenSky states that it reports account activity to Experian, Equifax, and TransUnion each month. Consistent responsible use may contribute to a consumer's credit history, but neither opening the account nor making payments guarantees a particular credit score increase. The card also participates in OpenSky Rewards, which advertises up to 10% cash back on qualifying purchases under the applicable rewards terms. The maximum advertised rate should not be interpreted as a flat 10% return on every purchase because rewards depend on eligible offers and program conditions. OpenSky currently advertises a limited-time $20 statement credit for customers who apply, are approved, and fund the standard OpenSky Secured Visa with at least $300 on the same day, subject to additional conditions. Because this is a promotional offer, it may be changed or withdrawn and should not be treated as a permanent card feature. The OpenSky Secured Visa can be a practical credit-building tool for consumers who value the lack of a credit check and three-bureau reporting. However, the required deposit, annual fee, variable APR, and transaction fees mean consumers should compare it with other secured cards, particularly alternatives with no annual fee.