OpenSky® Secured Visa®

Quick Snapshot

• Annual Fee: $35
• APR: 24.64% variable
• Rewards: No rewards program
• Bonus: No welcome bonus
• Best For: People with no credit or very bad credit who want to build credit without a bank account or credit check
• Credit Needed: No credit check required

Overview

The OpenSky Secured Visa is one of the most accessible credit cards available because it requires no credit check and no bank account. You can fund your security deposit ($200 to $3,000) using a debit card, money order, or bank transfer, making this card available to people who have been shut out of the traditional banking system entirely.

Your security deposit becomes your credit limit. The card reports your payment activity to all three major credit bureaus (Equifax, Experian, and TransUnion), allowing you to build credit over time with responsible use. There is no penalty APR, so a late payment will not trigger an interest rate increase.

The trade-offs are an annual fee of $35, no rewards program, and no welcome bonus. The 24.64% APR is moderate for a secured card but still means you should pay your balance in full each month. The $35 annual fee is the price of accessibility: this card is designed for people who cannot pass a credit check and may not have a bank account. For those individuals, the OpenSky Secured Visa provides a genuine path to credit building that few other products offer.

APR Breakdown

• Purchase APR: 24.64% variable
• Balance Transfer APR: N/A
• Cash Advance APR: N/A
• Penalty APR: None

Note: Variable APR of 24.64%. No credit check performed during application. No penalty APR.

Benefits Overview

Maximum Accessibility

• No credit check required for approval
• No bank account required
• Fund deposit with debit card, money order, or bank transfer
• Available to people with no credit, bad credit, or bankruptcies
• Security deposit range of $200 to $3,000

Credit Building

• Reports to all three major credit bureaus
• Builds credit history with on-time payments
• No penalty APR protects against rate spikes
• Credit limit equals your security deposit
• Potential for credit limit increases over time

Card Details

• Visa network for wide acceptance
• $35 annual fee
• 24.64% variable APR
• Deposit refundable upon account closure in good standing

Rewards & Points

The OpenSky Secured Visa does not offer a rewards program. The card is a pure credit-building tool for people who cannot access other credit products.

Welcome Bonus

No welcome bonus is offered. The OpenSky Secured Visa is designed for credit building rather than rewards. The value is in establishing positive payment history with all three credit bureaus for people who have no other options.

Fees Summary

• Annual Fee: $35
• 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: $200-$3,000 (refundable)

Who This Card Is Best For

Ideal For

• Unbanked individuals who do not have a bank account but need to build credit
• People with very bad credit who cannot pass any credit check
• Bankruptcy filers who need to rebuild credit from scratch
• People declined everywhere else who have exhausted other credit card options

Not Good For

• Rewards seekers as the card offers no cash back, points, or miles
• Fee-averse users who do not want to pay a $35 annual fee on a secured card
• People with bank accounts who can qualify for no-fee secured cards like Chime

Key Pros & Cons

Pros

• No credit check required for approval
• No bank account required (fund via debit card or money order)
• Reports to all three major credit bureaus
• Available to people with very bad credit or no credit
• No penalty APR
• Security deposit range of $200-$3,000 provides flexibility
• Visa network for wide domestic acceptance
• Deposit refundable upon account closure in good standing
• Straightforward application process

Cons

• $35 annual fee on a no-rewards secured card
• No rewards, cash back, or points program
• No welcome bonus
• 24.64% APR if you carry a balance
• 3% foreign transaction fee
• No purchase protection or card benefits
• Requires a security deposit of at least $200
• Credit limit capped at your deposit amount

Alternatives to Consider

Card	Best For	Annual Fee	Rewards	Credit Needed
OpenSky® Plus Secured Visa®	No annual fee version with higher APR	$0	None	No minimum
Chime Credit Builder	No fee, no interest, no deposit minimum	$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)

Annual cost of $35 for the annual fee. The value is in credit building: establishing 12 months of positive payment history can significantly improve your credit score and open doors to better financial products. Consider this fee an investment in your credit future.

Should You Get This Card?

You Should Get It If...

• You do not have a bank account and need a credit card for building credit
• You cannot pass any credit check due to very bad credit or no credit
• You need a card that reports to all three credit bureaus
• You have been declined for all other credit cards
• You are rebuilding after bankruptcy or collections
• You can fund a security deposit with a debit card or money order

You Should Skip It If...

• You have a bank account and can get a no-fee secured card like Chime
• You qualify for secured cards with rewards (Discover Secured, Capital One Secured)
• You do not want to pay a $35 annual fee on a secured card
• You want cash back or rewards on your purchases
• You already have fair credit and can get an unsecured card
• You travel internationally and need no foreign transaction fees

Apply Now

Apply for OpenSky® Secured Visa®

---

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