Is approval guaranteed with a deposit?

No. OpenSky explicitly makes applications and credit limits subject to approval. A no-credit-check application is not guaranteed acceptance.

Does the deposit pay my bill?

No. The deposit is collateral, and you must still make required monthly payments. The annual fee is a cost, not part of the refundable deposit.

Is this the same as OpenSky Plus or Launch?

No. This review covers the $35 annual-fee Secured Visa. Plus and Launch have different deposits, fees, rates and offers; compare their current terms separately.

Independent comparisons. No active credit card affiliate partnerships. Numbers checked 2026-09-10. How we make money · Data status

OpenSky•Visa

OpenSky Secured Visa

Name: OpenSky Secured Visa
Brand: OpenSky
Price: 35 USD

Published by CreditMango · Mike Kwak · Editorial policy

Secured Card Without a Traditional Credit Check

Apply Now

Annual Fee$35

APR23.89% variable

Sign-up Bonus$20 statement credit with same-day application, approval and qualifying deposit of at least $300; limited-time offer~$20 value

RewardsMerchant offers may earn up to 10%; no universal base cash-back rate

Credit Scorepoor

Foreign FeesYes (3%)

+ Pros

✓No traditional credit check to apply
✓Reports to three major credit bureaus
✓Deposit-backed credit limit

− Cons

✗$35 annual fee
✗Deposit ties up cash
✗3% foreign transaction fee

Perks & Credits

Subject to approval

Application

No traditional credit check does not guarantee acceptance. Identity, income and other eligibility requirements still apply.

$200–$3,000

Security Deposit

Refundable deposit backs the credit limit, subject to approval and account terms. It does not replace monthly payments.

$20

Limited-Time Offer

Apply, receive approval and fully fund at least $300 on the same day. Account must stay open and in good standing; statement credit may take up to three billing cycles.

OpenSky Secured Visa accepts applications without a traditional credit check, but approval is not guaranteed. This review covers its $35 annual-fee card, not the separate Plus or Launch products.

The current variable purchase APR is 23.89%, and foreign transactions cost 3%. Its refundable security deposit is $200–$3,000, subject to approval. The deposit ties up your money and does not pay your monthly bill; the annual fee is a separate, non-deposit cost.

Evaluate access and cost together

Reporting to the three major credit bureaus can help establish payment history, but neither a particular score increase nor graduation to unsecured credit is guaranteed. The application still has eligibility and identity-verification requirements. Compare the recurring fee, available deposit funds and repayment plan with other suitable secured cards.

The current limited-time $20 statement-credit offer requires applying, being approved and fully funding at least $300 on the same day. That $300 requirement is higher than the card's standard minimum deposit. The account must remain open and in good standing, and posting may take three billing cycles. Do not assume merely opening the card earns the bonus.

Merchant reward offers may be available, but the comparison excludes them because their value depends on eligible purchases. There is no assumed universal cash-back rate.

Read the OpenSky product offer and pricing disclosure before applying.

Who This Card Is For

→Applicants considering a secured card without a traditional credit check who can afford the deposit and recurring fee.

Who Should Skip This Card

→People with a suitable lower-fee alternative.
→People who cannot spare the deposit while continuing to pay monthly bills.

How It Compares

Card	Annual Fee	Best Rate
OpenSky Secured Visa (this card)	$35	Offers
Discover it Secured Cash Back Credit CardBest Card for Building Credit	$0	5%

Frequently Asked Questions