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The Capital Bank OpenSky Secured credit card might be exactly what you are looking for if you want a practical, comprehensive, and easy-to-approve option. With it, you can make purchases anywhere while improving your credit history.
This card requires a security deposit, which serves as your credit limit, providing control and security for users, and this amount is refunded when the customer closes their account.
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And the advantages don’t stop there, because after establishing a good credit profile, you may become eligible for traditional credit cards. Want to know more details about this excellent credit card? Then follow our post!
About de Issuer
The OpenSky card is issued by Capital Bank, a financial institution known for its accessible solutions for consumers with diverse credit needs. Capital Bank stands out for offering products that make the financial lives of their clients easier, especially those seeking to rebuild their credit.
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Besides the OpenSky Secured credit card, Capital Bank offers a variety of banking services and credit products. With years of experience in the market, the bank has a solid reputation and is known for its transparency and customer service.
If you are looking for a secure and reliable credit card, the OpenSky Secured, issued by Capital Bank, is an excellent choice. Keep reading to discover all the advantages of this card.
Benefits
No Credit Check: The Capital Bank OpenSky Secured credit card does not conduct a credit check during the application process, making it accessible to people with poor or non-existent credit history.
Flexible Security Deposit: You can pay your security deposit, which ranges from $200 to $3,000, through methods like bank transfer, money order, or prepaid card. This deposit serves as your credit limit.
Monthly Reports to Credit Agencies: OpenSky sends monthly reports to the three major credit agencies (Equifax, Experian, and TransUnion), helping to build or improve your credit history.
OpenSky Mobile App: The mobile app allows you to manage your account conveniently, tracking your balance, transaction history, and making payments.
No Bank Account Required: It is not necessary to have a bank account to apply for the OpenSky card, increasing its accessibility.
Facebook Community: OpenSky offers a Facebook community with over 35,000 users, providing support and helpful tips for credit management.
Accepted at Millions of Locations: As a Visa card, OpenSky is accepted at millions of establishments worldwide, allowing for greater flexibility in your purchases.
Low Annual Fee: The card has an annual fee of $35, which is competitive compared to other secured credit cards. However, it is important to maintain activity on the card to avoid the inactivity fee of $10 per month.
Capital Bank OpenSky Secured Credit Card – Fees and Commissions
The Capital Bank OpenSky Secured credit card charges an annual fee of $35, which is competitive compared to other secured credit cards available on the market today. Additionally, the card has a relatively low APR of 25.64%.
It is important to note that fees may be updated by the card issuer, so it is always good to check the updated conditions directly on the official Capital Bank website.
Card limit
The credit limit of the Capital Bank OpenSky Secured credit card is determined by the amount of your security deposit, which ranges from $200 to $3,000. This allows for greater financial control for the client and offers security for the issuer.
You can increase your credit limit at any time by making an additional deposit, which can also help improve your credit score by maintaining low credit utilization.
Positive points
- No Credit Check:Ideal for those with poor or non-existent credit history.
- Wide acceptance:Issued by Visa.
- Flexibility in Deposit:Various options to make the security deposit.
Negative points
- Annual Fee:Although competitive, it can be considered a negative factor.
- No Rewards:Does not offer rewards or cashback programs.
- Inactivity Fee:Charges $10 per month if there is no activity on the card for a year.
How to apply for Capital Bank OpenSky Secured
If you want to take advantage of everything the Capital Bank OpenSky Secured credit card can offer, just apply according to the step-by-step process:
- Visit the official OpenSky website;
- See all the information about the card;
- Click on “Get Started”;
- Select “Get Started” again below the OpenSky Secured credit card;
- Enter your first name, last name, email, phone;
- Agree to the terms and proceed;
- Provide the other data requested by the bank until the process is finalized;
- See if you are pre-approved, and if so, submit the application.
