The Open Sky Visa Secured Credit Card

Advertiser Disclosure

We’ve written about secured credit cards here extensively.  Many people on this earth have had bad ‘luck’ with credit cards in their younger days, either with controlling their spending, or going bankrupt due to outside forces acting on them.  That’s okay.  Life isn’t over.

The Open Sky Visa Secured Credit Card is a card built just for those of you that are struggling with these very issues.  It is built to regain the trust of various credit reporting agencies, and also to regain your trust in using a credit card to transact your way through life.  Let’s dig into the card below and check out if it’s right for you!



For one, if you carry a balance month to month on the credit card, you’ll incur a 17.5% variable APR.  This should be a moot point for you, the credit card holder, though, since you are trying to regain trust from the banks that you can pay your bills on time!

There is a $29 annual fee for holding the card, a small fee per year compared to other credit cards.  You won’t earn any miles or points, but that’s not the point of the card, is it?  Furthermore, a credit line of $200-$3000 can be offered to you, which is directly correlated to the amount of money that you deposit into your account at the card opening.  This money does not need to be from a checking account, however.  You can do so via wire transfer, Western Union, or the United States Postal Service.

All deposits that you make are fully refundable, by the way.  As soon as you decide (or are able to) move up to a ‘real’ credit card, the funds will be returned to you promptly by Open Sky.

Let’s get into the nitty gritty.  Your APR is 17.5% for purchases, balance transfers, and cash advances.  When you fail to make a payment, a penalty of 21.5% will be incurred.  Balance transfers are charged fees of 5% of the transfer, and the same goes for cash advances.  Foreign transaction fees rack up a 3% transaction fee.  Late payments carry a $20 charge, and a returned payment causes up to $25 in fees.



It is obvious that this card is not for everyone.  However, it is here for a reason.  Many people in America, especially in the early 2000s, had no idea what havoc their spending would cause them.  The Open Sky Visa Secured Credit Card will be there to help those who want to learn from the mistakes that they made.

Furthermore, it allows the banks to offer their credit lending at no risk to them, and maybe make a few dollars here and there.  Building trust between banks and their customers is an action that must begin occurring with more frequency.  Major kudos to the Open Sky team for making this happen.  Now, is this credit card product something that you are interested in?  Apply for the Open Sky Secured Credit Card if it is!