What the OpenSky Plus Card Does

The OpenSky Plus Secured Visa Card is a secured credit card that reports to all three major credit bureaus—Equifax, Experian, and TransUnion. You deposit money into a savings account, and that deposit becomes your credit limit. You then use the card like a regular credit card, and your monthly payments are reported to build or rebuild your credit history.

Unlike many secured cards, OpenSky Plus does not require a credit check to open the account. The card issuer looks at your bank account history instead, which means you can get approved even if you have poor credit, no credit history, or a recent bankruptcy.

The card charges an annual fee and a monthly maintenance fee. Both fees are deducted from your deposit, so they reduce the amount available as your credit limit. You pay interest on any balance you carry from month to month, just as you would with an unsecured card.

Key Takeaways

  • Your cash deposit becomes your credit limit, and the card reports to all three credit bureaus each month.
  • OpenSky Plus does not run a hard credit check, so approval does not depend on your credit score or history.
  • Annual and monthly fees are deducted from your deposit, reducing the amount you can actually charge.
  • You can request a credit limit increase after six months of on-time payments, which may not require an additional deposit.
  • The card charges interest on balances you carry, so paying in full each month saves you money.

How to Open an OpenSky Plus Account

You start by visiting OpenSky's website and clicking the button to open a new account. You will enter your name, address, date of birth, Social Security number, and employment information. OpenSky will review your bank account history—they ask for access to your checking or savings account to verify funds and assess your banking behavior.

Once approved, you choose your deposit amount. The minimum deposit is $200, and the maximum is $3,000. This deposit is held in a savings account and becomes your credit limit. For example, if you deposit $500, your credit limit will be $500 minus the annual and monthly fees.

After your deposit clears, your card will arrive by mail within 7 to 10 business days. You then set up the card through OpenSky's website or mobile app before you can use it.

Fees and Interest Rates

The annual fee is $35, charged once per year. The monthly maintenance fee is $6, charged every month. Both are deducted from your deposit automatically, which means they reduce your available credit limit.

If you deposit $500, for example, the $35 annual fee and the first month's $6 maintenance fee ($42 total) are deducted when ready, leaving you with $458 as your actual credit limit. Each subsequent month, another $6 is deducted.

The card charges interest on any balance you do not pay in full by the due date. The interest rate (APR) varies by applicant and is disclosed before you open the account. Paying your full statement balance each month avoids interest charges entirely.

Building Credit and Requesting a Limit Increase

Every month, OpenSky reports your payment activity to Equifax, Experian, and TransUnion. This means on-time payments build your credit history, and missed or late payments damage it. The goal of a secured card is to demonstrate responsible credit use so that your credit score improves over time.

After six months of on-time payments, you can request a credit limit increase. OpenSky may increase your limit without asking for an additional deposit, or they may ask you to add more money to your savings account. A higher limit gives you more room to charge and can improve your credit score further (because it lowers your credit utilization ratio—the percentage of your limit you are using).

Some cardholders graduate to an unsecured card after 12 to 18 months of perfect payment history. When that happens, your deposit is returned to you, and you keep the card with an unsecured credit limit.

How to Use and Pay Your Card

Once activated, use the OpenSky Plus card anywhere Visa is accepted—online, in stores, and for recurring charges. You can check your balance and make payments through the OpenSky mobile app or website.

Your statement closes on the same day each month, and you have at least 21 days to pay before the due date. You can pay your full balance, a minimum payment, or any amount in between. Paying the full balance by the due date avoids interest charges and demonstrates responsible credit use to the credit bureaus.

Set up automatic payments if possible. Many cardholders choose to pay the full balance automatically on the due date, which removes the risk of forgetting and incurring late fees or interest.

What Happens If You Miss a Payment

If you miss your payment due date, OpenSky charges a late fee (typically $25 for the first late payment, $35 for subsequent ones within six months). The missed payment is reported to the credit bureaus and damages your credit score.

If you fall behind by 60 days or more, OpenSky may freeze your account and stop allowing new charges. Your deposit remains in the savings account, but you cannot use the card until you bring the account current.

If your account goes unpaid for an extended period, OpenSky may close it and explore your deposit toward the debt. Any remaining balance becomes a debt you owe, and the account closure is reported to the credit bureaus.

Comparing OpenSky Plus to Other Secured Cards

The main advantage of OpenSky Plus is that it does not require a credit check. If you have been denied for other secured cards because of your credit history, OpenSky's bank-history review may get you approved.

The disadvantage is the monthly maintenance fee. Most other secured cards charge only an annual fee, not a monthly one. Over a year, OpenSky's $6 monthly fee ($72 per year) plus the $35 annual fee totals $107 in fees, which is higher than many competitors.

If you have access to other secured cards and can meet their requirements, comparing the total annual fees, interest rates, and credit-building features is worth your time. However, if you have been rejected elsewhere, OpenSky Plus may be your most straightforward option.

Frequently Asked Questions

Can I get my deposit back?

Yes, your deposit is always yours. You can close the account at any time and request your deposit back, minus any unpaid balance or fees. If you graduate to an unsecured card, OpenSky returns your deposit automatically. If the account is closed due to non-payment, your deposit may be applied to the debt first.

Does OpenSky Plus report to all three credit bureaus?

Yes, OpenSky reports to Equifax, Experian, and TransUnion every month. This means your payment history builds credit at all three bureaus simultaneously, which is important because most lenders check multiple bureaus when making decisions.

What is the interest rate?

The APR varies by applicant and is disclosed before you open the account. It typically ranges from 18% to 24%, though your specific rate depends on the information you provide during the process. You can avoid interest entirely by paying your full balance each month.

How long does it take to graduate to an unsecured card?

There is no set timeline. Some cardholders receive an unsecured card offer after 12 months of perfect payment history, while others take 18 to 24 months. OpenSky reviews accounts periodically and sends upgrade offers when they believe you have demonstrated enough creditworthiness.

What if I cannot afford the monthly maintenance fee?

The $6 monthly fee is deducted automatically from your deposit. If you cannot afford it, you can close the account and request your remaining deposit back. However, closing the account stops the credit-building process, so it is worth considering whether the fee is worth the benefit of building your credit history.