FinMasters content is free. When you purchase through referral links on our site, we earn a commission. Learn More

The OpenSky® Secured Visa® Credit Card is one of a kind in the fact that they don’t check your credit for approval and you don’t need a bank account to be approved.  Learn how you can use this card to establish or rebuild your credit.

Annual Fee

17.39% Variable

Credit Needed 
Fair/Poor/Bad/No Credit

OpenSky® Secured Visa® Credit Card

9 out of 10

The OpenSky® Secured Visa® Credit Card is a great card to have when either starting your credit journey or re-establishing your credit.

You don’t need a bank account, nor do you have to worry about a credit pull when you apply for this card; however, the card does have an annual fee.

I created this review so that you can understand how their card works, its benefits and short comings.



No Credit Check

Easy to qualify

Credit building tool

Reports to all 3 major credit bureaus

No Bank Account Needed


$35 Annual Fee

High APR

Requires $200 minimum security deposit

What’s The OpenSky® Credit Card?

The OpenSky® Secured Visa® Credit Card was created by Capital Bank N.A. and was created solely to help people establish or rebuild credit.

They don’t pull your credit when you apply so there is no credit check and you can get approved no matter if you have poor credit or no credit at all. 

The card helps you build credit history by reporting to all three major credit reporting agencies as well. 

Like most secured cards, it does require an initial security deposit once you get approved which we discuss below.

Who Is Capital Bank N.A.?

Capital Bank N.A. is an FDIC insured and headquartered in Rockville, Maryland.  They are a Maryland chartered commercial bank that offers commercial and consumer banking services.  

Their OpenSky® credit card division offers and services credit cards across all states and they focus on merging digitally based products with personalized services.

Capital Bank N.A. has been around since 1999 and today they have more than $1 billion in assets and have experienced consistent double-digit year-over-year growth. 

What Makes Them Different?

The biggest selling point of the OpenSky® Secured Visa® Credit Card is that it focuses on helping everyone gain access to credit. 

It does this by allowing you to apply for a secured credit card without a credit check and without the need of a bank account to submit the initial security deposit or make payments.

To top it all off, you get to choose your credit limit based on your initial security deposit.

OpenSky® Secured Visa® Card Basics

Below are some of the basic features of the OpenSky® Secured Visa® credit card:

  • Card type: Secured
  • Interest rate: 17.39% Variable APR
  • Annual fee: $35
  • Rewards: None
  • *Security deposit: $200 minimum, $3,000 maximum
  • Foreign transaction fee: 3% of each Transaction in U.S. dollars
  • Credit reporting: Reports payment information to all three credit bureaus.
  • Cash advance fee: Either $6 or 5% of the amount of each cash advance, whichever is greater.
  • Late payment fee: Up to $38.00
  • Returned payment fee: Up to $25.00

*With secured cards you will need to provide a refundable security deposit, which determines what your initial credit limit will be. The credit card company holds that deposit in case you don’t pay your bill.

In my personal opinion, paying a small fee to establish credit is 100% worth it; just be sure to make your payments on-time.

OpenSky Credit Card Features

The OpenSky® Secured Visa® Credit Card is packed with several features that make it one of the best secured credit cards without a credit check.

The main features of this card include: 

  • No bank account needed to make monthly payments
  • Protection against fraud with Visa Zero Liability policy
  • Easy 4-step application process: no credit check or checking account required
  • Monthly reports to all three major credit bureaus
  • Online credit education and newsletter for cardholders
  • Interest-free grace period for first billing cycle

OpenSky® Secured Visa® Credit Cards help you to establish a solid payment history with no credit check required.

Paying Your Security Deposit

Your security deposit is what will determine your initial credit limit.

During Step 4 of the application process you will have 2 options:

You Have A Bank Account

You need to provide your debit card details.  

OpenSky® accepts  either MasterCard® or Visa® and the application is designed to make it quick and easy no matter if you are on mobile or desktop..

When you submit your application, you are giving OpenSky® the authority to process the full security deposit, this will place an immediate hold on the funds selected as your credit line.

If your application is not approved, your money will be posted back to your account within five days.

They don’t store your debit card information on file.

You Don’t Have A Bank Account

If you don’t have a bank account, in Step 4 on the application you will need to select the “I’ll need to pay my security deposit at a later date” option.

Once you have been approved, you will receive an email with instructions on how and where to send in your deposit via money order or Western Union.

When you’re ready to close your account, your security deposit will be refunded to you by check.

Keep in mind that as long as you don’t have an outstanding account balance the funds will come back to you, otherwise they will keep whatever you owe and return the difference. 

Requesting A Credit Limit Increase

You can request a credit limit increase at any time by contacting their Customer Service Department.

If you get approved, you’ll receive instructions on how to send the additional security deposit needed to fund the increase to your credit limit.

You may be charged a fee to get the increased credit limit and all credit lines are subject to underwriting approval. 

Opensky® Secured Visa® Card Pros & Cons

Alternatives To The OpenSky® Credit Card

A secured credit card through Capital Bank N.A. is a great option to get things started with your credit profile.  

However, there are a few other options available for building or re-building your credit, and if you can, I would get them in addition to the OpenSky® Card.

Credit Builder Loan Through Self Lender

While these loans have a small monthly fee attached to them,  they also pull your credit report for approval.

Just like with an OpenSky® card, Credit Builder Loans report to all 3 credit reporting agencies.

The major difference is that it is an installment loan and not a revolving loan, but once the loan is paid off, the funds will be sent back to you.

We wrote a detailed guide here and a review of Self Lender here.

Catalog / Merchandise Account Through Fingerhut

Another great alternative are Catalog/ Merchandise Accounts.

While these types of accounts require a credit pull, it is very easy to get an approval and to start building your credit profile.

These accounts will report to all 3 credit reporting agencies; however, you can only use the credit at the Catalog or Merchandise company that gives you the credit.

One of the best catalog accounts comes from Fingerhut, we wrote a detailed review here

Steps To Take After You’re Approved

The real work starts once you have been approved for your OpenSky® Secured Visa® Credit Card.

Monitor Your Credit

One of the most overlooked area of building credit, is monitoring your credit. 

This is truly your first line of defense when trying to build or rebuild your credit.

You should try to find a service that allows you to monitor all 3 of your reports.

Helpful Tip

If your application goes to “Pending” status it doesn’t mean Declined. Usually, more information may be needed.

Make On Time Payments

Making on time payments sounds like a super simple thing to do; however, we all live in the real world where things almost never go as planned.

Be sure, no matter what, to make your payments on time because it is super important and is one of the largest factors in your credit score.

No matter what, avoid late payments.

Keep Credit Utilization Low

Another factor to consider is credit utilization, you really want to keep this under 3% of total credit if you can but try to never get it over 15%.

For example, if your OpenSky® credit card has a $300 limit and you spend $60.

Spending $60 on a $300 card limit means you are utilizing is around 20% of your credit on that card and it is above the recommend credit utilization percentage, so be mindful of how much you spend.

How Do I Close My OpenSky® Credit Card?

You can close your account at any time by contacting their Customer Service Department at the phone number listed on your billing statement or on the back of your credit card, or you can mail the request to:

OpenSky® Card Services 
PO Box 9224
Old Bethpage, NY 11804-9224

Is There A Fee For Closing My Account?

Outside of the fees associated with your remaining balance, there is no fee for closing your account. 

You will also receive your security deposit back that you used to open your account.

I would recommend keeping the card active as long as you can, there really isn’t a reason to cancel the card any time soon.

Taking Action On Your Credit

Hopefully, you found this OpenSky® Secured Visa® Credit Card Review helpful because starting your credit journey can be complicated and confusing.

There is no better time than now to get things started and the sooner you get your card setup, the faster it will hit your reports and start helping you.

Having the card in your wallet is going to feel great, but growing your credit is going to feel even better. 

Start building your credit today with an OpenSky® Secured Visa® Credit Card!

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.