It is issued by Capital Bank and offers a way to build up your balance using a so-called secured card. This means that you leave a refundable deposit which becomes your credit limit on the card.
Is the OpenSky® Secured Visa® credit card a real credit card?
Yes, that OpenSky® Secured Visa® credit card is a real credit card. But unlike a traditional “unsecured” card that does not require collateral, it is a “secured card” so prepayment is required. You can choose the size of the deposit, which is also your credit limit and can be up to $ 200. The maximum amount is $ 3,000 and you can get the deposit back if you close the account in good condition.
Has the OpenSky® Secured Visa® credit card charge an annual fee?
The card bears an annual fee, which is $ 35.
Has the OpenSky® Secured Visa® credit card require a credit check?
According to the issuer, the application does not require a credit check and can be completed in less than five minutes.
It is rare to find credit cards – even secured cards – that are not performing pull hard Of your credit when you apply.
Has the OpenSky® Secured Visa® credit card Report US credit bureaus?
Yes sir. While you are using the card, your payment history will be reported to everyone every month three major credit bureaus: Equifax, Experian and TransUnion.
These reports will help you build your credit over time as long as you keep making payments on time.
Has the OpenSky® Secured Visa® credit card offer an upgrade path?
the OpenSky® Secured Visa® credit card does not offer an opportunity to “upgrade” to an unsecured card after months of responsible use.
Later on, if you want an unsecured card, you’ll need to apply for one – hopefully you are armed with a new and improved credit rating.
Has the OpenSky® Secured Visa® credit card Earn rewards?
no, the OpenSky® Secured Visa® credit card does not deserve rewards, which is typical of cards aimed at people with low credit ratings (FICO results of 629 or lower).
What else does it do OpenSky® Secured Visa® credit card unique?
Not only can you bypass a credit check during the application process, but you also don’t need a bank account to qualify for this card.
However, you will need to provide a social security number or individual tax identification number and provide proof that your monthly income Exceeds your monthly expenses.