Kudos has partnered with CardRatings and Red Ventures for our coverage of credit card products. Kudos, CardRatings, and Red Ventures may receive a commission from card issuers. Kudos may receive commission from card issuers. Some of the card offers that appear on Kudos are from advertisers and may impact how and where card products appear on the site. Kudos tries to include as many card companies and offers as we are aware of, including offers from issuers that don't pay us, but we may not cover all card companies or all available card offers. You don't have to use our links, but we're grateful when you do!
OpenSky Plus Secured Visa® Credit Card Review: A No Credit Check Option for Building Credit
What Is the OpenSky Plus Secured Visa® Credit Card?
The OpenSky Plus Secured Visa® Credit Card stands out as a unique credit-building tool that doesn't require a credit check or even a checking account to apply. With a $0 annual fee and the potential to earn up to 10% cash back on select purchases, it's designed specifically for individuals looking to build or rebuild their credit history. The card requires a refundable security deposit, which typically starts at $300, and reports to all three major credit bureaus monthly.
OpenSky Plus Secured Visa® Credit Card Pros & Cons
Pros
- No annual fee, making it more affordable than many secured cards
- No credit check required during application
- No checking account needed
- Reports to all three major credit bureaus monthly
- Earn up to 10% cash back on select purchases
- Flexible payment due dates
- Option to pay security deposit in installments over 60 days
- Free FICO score access
Cons
- Higher minimum security deposit ($300) compared to competitors
- High ongoing APR of 29.24% Variable
- 3% foreign transaction fee
- Limited upgrade path to unsecured cards
- Maximum credit limit capped at $3,000
Who Is the OpenSky Plus Secured Visa® Credit Card For?
This card is ideally suited for several types of credit card users:
- Individuals with damaged credit looking to rebuild their credit history
- People new to credit who want to establish a credit profile
- Those without traditional banking relationships
- Consumers who want to avoid credit checks during application
- Anyone seeking a secured card with no annual fee
Comparing the OpenSky Plus Secured Visa® Credit Card with Other Credit Cards
OpenSky Plus vs. OpenSky Secured Visa®
While both cards share similar features, the Plus version offers a $0 annual fee compared to the regular OpenSky's $35 fee. However, the Plus version requires a higher minimum deposit ($300 vs. $200).
OpenSky Plus vs. Discover it® Secured
The Discover it® Secured offers more comprehensive rewards and the possibility of automatic upgrade review after 7 months. However, it requires a credit check and bank account.
OpenSky Plus vs. Capital One Platinum Secured
The Capital One Platinum Secured may offer a lower initial deposit for some applicants and better upgrade paths, but requires a credit check during application.
Key Features and Benefits
Credit Building Opportunities
- Monthly reporting to all three credit bureaus
- Free FICO score access
- 2/3 of cardholders see a 48+ point improvement after three on-time payments
Flexible Security Deposit Options
- Deposit range: $300-$3,000
- Installment payment option over 60 days
- Multiple payment methods accepted
- Fully refundable upon good standing and account closure
Digital Wallet Integration
- Compatible with Apple Pay
- Works with Samsung Pay
- Supports Google Pay
Consider Using Kudos to Maximize Your Rewards
While building credit with the OpenSky Plus Secured Visa® Credit Card, you can enhance your rewards earning potential by using Kudos, a free AI-powered browser extension. Kudos helps you maximize credit card rewards by automatically suggesting the best card to use for each purchase, potentially multiplying your rewards up to 5X during exclusive "Flash Boost" events. Currently, new users can earn $20 back after their first eligible purchase by signing up with code "GET20".
Our Expert Takeaway
The OpenSky Plus Secured Visa® Credit Card offers a solid option for credit building, especially for those who might be excluded from traditional banking products. While the higher minimum deposit and APR are notable drawbacks, the combination of no annual fee, no credit check, and flexible deposit payment options makes it an accessible choice for many consumers.
OpenSky Plus Secured Visa® Credit Card FAQ
What credit score is needed for the OpenSky Plus Secured Visa® Credit Card?
No minimum credit score is required as there's no credit check during the application process.
How long does it take to get approved for the OpenSky Plus Secured Visa® Credit Card?
Approval decisions are typically instant, and you can apply in less than 5 minutes from your mobile device.
Can I increase my credit limit on the OpenSky Plus Secured Visa® Credit Card?
Yes, you can be considered for a credit line increase after six months of responsible card use.
Is the security deposit refundable?
Yes, the security deposit is fully refundable when you close your account in good standing.
How does the installment payment option work for the security deposit?
You can make minimum payments of $25 over a 60-day period to reach your required security deposit amount.
Supercharge Your Credit Cards
Experience smarter spending with Kudos and unlock more from your credit cards. Earn $20.00 when you sign up for Kudos with "GET20" and make an eligible Kudos Boost purchase.
Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
