OpenSky® Plus Secured Visa®

Quick Snapshot

• Annual Fee: $0
• APR: 28.24% variable
• Rewards: No rewards program
• Bonus: No welcome bonus
• Best For: People with no credit or very bad credit who want a no-annual-fee secured card without a credit check
• Credit Needed: No credit check required

Overview

The OpenSky Plus Secured Visa is the no-annual-fee version of the original OpenSky Secured Visa. It eliminates the $35 annual fee in exchange for a higher APR (28.24% versus 24.64%) and a slightly higher minimum deposit ($300 versus $200). Like its predecessor, it requires no credit check and no bank account for funding.

Your security deposit of $300 to $3,000 becomes your credit limit. The card reports to all three major credit bureaus, helping you build credit with every on-time payment. There is no penalty APR, meaning your rate stays at 28.24% even if you miss a payment. The deposit is refundable when you close the account in good standing.

This card makes the most sense for people who want the accessibility of the original OpenSky (no credit check, no bank account required) but do not want to pay an annual fee. The trade-off is the higher APR and higher minimum deposit. If you plan to pay your balance in full each month (which you should with any secured card), the higher APR does not matter and the $0 annual fee saves you $35 per year compared to the original OpenSky.

APR Breakdown

• Purchase APR: 28.24% variable
• Balance Transfer APR: N/A
• Cash Advance APR: N/A
• Penalty APR: None

Note: Variable APR of 28.24%. No credit check performed during application. No penalty APR.

Benefits Overview

No Annual Fee

• No annual fee eliminates recurring cost
• $0 saved versus the $35 annual fee on the original OpenSky
• Lower total cost of credit building
• More of your deposit works for you rather than going to fees

Maximum Accessibility

• No credit check required for approval
• No bank account required for deposit funding
• Fund deposit with debit card, money order, or bank transfer
• Available to people with no credit, bad credit, or bankruptcies
• Security deposit range of $300 to $3,000

Credit Building

• Reports to all three major credit bureaus
• Builds credit history with on-time payments
• No penalty APR
• Deposit refundable upon account closure in good standing
• Visa network for wide acceptance

Rewards & Points

The OpenSky Plus Secured Visa does not offer a rewards program. The card is a pure credit-building tool with the added benefit of no annual fee compared to the original OpenSky.

Welcome Bonus

No welcome bonus is offered. The card provides credit-building value through bureau reporting and the elimination of the $35 annual fee found on the original OpenSky Secured Visa.

Fees Summary

• Annual Fee: $0
• Foreign Transaction Fee: 3%
• Late Payment Fee: Up to $38
• Cash Advance Fee: N/A
• Balance Transfer Fee: N/A
• Returned Payment Fee: Up to $38
• Security Deposit: $300-$3,000 (refundable)

Who This Card Is Best For

Ideal For

• Fee-conscious credit builders who want no annual fee on a secured card
• Unbanked individuals who do not have a bank account
• People with very bad credit who cannot pass a credit check
• Original OpenSky upgraders who want to eliminate their annual fee

Not Good For

• Low-deposit applicants who can only afford $200 (the original OpenSky has a lower minimum)
• Balance carriers who will pay the higher 28.24% APR
• Rewards seekers who want cash back on purchases

Key Pros & Cons

Pros

• No annual fee saves $35/year versus the original OpenSky
• No credit check required for approval
• No bank account required for deposit funding
• Reports to all three major credit bureaus
• No penalty APR
• Deposit refundable upon account closure
• Available to people with very bad credit or no credit
• Visa network for wide acceptance
• Simple and accessible application process

Cons

• 28.24% APR is higher than the original OpenSky (24.64%)
• Higher minimum deposit of $300 versus $200 on the original
• No rewards, cash back, or points program
• No welcome bonus
• 3% foreign transaction fee
• No purchase protection or card benefits
• Credit limit capped at your deposit amount
• No rewards make this purely a credit-building cost

Alternatives to Consider

Card	Best For	Annual Fee	Rewards	Credit Needed
OpenSky® Secured Visa®	Lower APR + lower minimum deposit ($200)	$35	None	No minimum
Chime Credit Builder	No fee, no interest, no minimum deposit	$0	None	No minimum
Discover it® Secured Credit Card	Cash back rewards on a secured card	$0	2%/1%	No minimum

How the Rewards Add Up

Example Annual Value

Category	Annual Spend	Reward Rate	Earned	Value
All Purchases	$3,000	N/A	$0	$0 (credit building)

The OpenSky Plus saves $35/year in annual fees versus the original OpenSky. Over two years of credit building, that is $70 saved. The higher APR only matters if you carry a balance, which you should avoid on a secured card.

Should You Get This Card?

You Should Get It If...

• You want a no-annual-fee secured card with no credit check
• You do not have a bank account and need alternative deposit funding
• You have very bad credit or no credit and need to start building
• You can afford at least a $300 security deposit
• You plan to pay your balance in full each month (making the higher APR irrelevant)
• You want a card that reports to all three credit bureaus

You Should Skip It If...

• You can only afford a $200 deposit (original OpenSky has lower minimum)
• You will carry a balance and pay the 28.24% APR
• You have a bank account and can get a no-fee card like Chime Credit Builder
• You want cash back or rewards on your purchases
• You qualify for secured cards with rewards (Discover, Capital One)
• You travel internationally and need no foreign transaction fees

Apply Now

Apply for OpenSky® Plus Secured Visa®

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Information accurate as of May 2026. Terms and conditions apply. Please visit the issuer's website for the most current information.