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OpenSky Launch Secured Visa® Credit Card

Explore this OpenSky credit card: A secured, credit-building card that offers an upgrade path to an unsecured card. Discover if this card is right for your wallet!
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OpenSky Launch Secured Visa® Credit Card
Key features
  • Annual fee
    $36
  • Regular APR
    28.99%
Details
No Credit Check or Bank Account Necessary: You can get approved for this OpenSky credit card just by paying an affordable security deposit, making it a strong option for people with a limited or poor credit history.
Monitor Your Credit-Building Journey: OpenSky reports your payments to all 3 major credit bureaus and offers access to your FICO score, making it easy to track any improvements to your credit.
Pathway to an Unsecured Card: You can become eligible for the OpenSky Unsecured Gold Card after establishing a history of making on-time payments. No additional application or deposit necessary.
Annual Fee: Depending on your creditworthiness, you may pay an annual fee of $36, so be sure to check this detail when applying.
APR: The APR is 28.99% 💡Pro tip: You can avoid some of the downside of higher APR cards by paying off your balance in full each month.
Pros & cons
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Get Credit With No Credit Check: The OpenSky Launch is a secured credit card that helps you get access to credit without a credit check. Just pay the minimum deposit, which then acts as your credit limit.
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Helps Build Credit: OpenSky’s cardholders have a great track record, experiencing an average 47-point boost to their credit score within 6 months.
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Potential for Credit Line Increases: Want a higher limit? You can request an increase at any time by adding to your security deposit, up to a limit.
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Upgrade to a Secured Card: OpenSky offers an easy pathway to a secured card after you establish a track record of on-time payments. This isn’t the case for all unsecured credit cards.
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Earn Rewards: You can earn cash back on select purchases through participating merchants, a rare perk for a secured card.
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AutoPay: The OpenSky Launch offers autopay, helping ensure that you never miss a payment.
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Online Account Management: Easily manage your account through the OpenSky mobile app or website.
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Monthly Fees: Many secured cards do not charge a fee at all, making the OpenSky Launch less attractive. However, you won’t be responsible for paying the rest of the year’s fees if you choose to close your account early.
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Escalating Fee Structure: The monthly fee increases after the first year.
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Moderate APR: This card’s interest rate is on the higher side, which could result in high interest charges if you carry a balance
OpenSky Credit Card review: is this the right card for you?
If you’re considering the OpenSky Launch Secured Visa Credit Card, you’re likely searching for a credit-building tool that doesn’t require perfect credit for approval and can be obtained by paying a simple deposit. The OpenSky credit card could also be a great fit if you’re on a credit-building journey and are interested in eventually working up to an unsecured credit card. This review covers the key features, pros and cons, and real customer experiences to help you decide if this OpenSky credit card fits your financial goals.
What is the OpenSky Launch Credit Card?
The OpenSky Launch Visa offers credit-building opportunities to people with no credit history or bank account. It does not require a credit check and extends approval as long as you pay a refundable security deposit. It’s issued by Capital Bank and is designed to provide a pathway to building credit for people who don’t mind paying a deposit. 66% of OpenSky’s cardholders experience an average 47-point boost to their credit score within 6 months, although any credit improvements will depend on payment history and other factors. OpenSky cardholders in good standing may become eligible for OpenSky’s Gold card with no additional application or deposit necessary.
Testimonials

Here are some real testimonials from people who have used this OpenSky credit card:

  • OpenSky has helped me to get my credit back on track with this friendly and easy-to-use secured credit card. OpenSky is really a lifesaver, especially when I come from an impoverished community without many resources to start and grow my credit score.
    Tavarus, OpenSky Customer
    June 27, 2024
  • I started off in a really bad place with my credit. OpenSky helped by reporting to all 3 credit bureaus with on-time payments. Those 3 reports helped raise my score quicker than just a single report from other credit issuers. The process of credit repair is not a quick one, but having OpenSky in my corner helped me go from poor credit to excellent credit.
    Gil, OpenSky Customer
    June 27, 2024
  • Pre-Covid, my credit took a major hit due to a bad business relationship. Getting 2 OpenSky cards and using them carefully has gotten my score up to the mid-700s. After three years, I was able to qualify for a mortgage and purchase a home.
    William, OpenSky Customer
    June 18, 2024

These reviews highlight that the OpenSky Launch Secured Credit Card is a great option for credit improvement, with users highlighting ease-of-use and effectiveness as the main benefits.

Alternatives to the OpenSky Launch Credit Card

If you’re on the fence about this OpenSky credit card, consider some alternatives:

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This material is for informational purposes only and should not be construed as financial, legal, or tax advice. You should consult your own financial, legal, and tax advisors before engaging in any transaction. Information, including hypothetical projections of finances, may not take into account taxes, commissions, or other factors which may significantly affect potential outcomes. This material should not be considered an offer or recommendation to buy or sell a security. While information and sources are believed to be accurate, MoneyLion does not guarantee the accuracy or completeness of any information or source provided herein and is under no obligation to update this information. For more information about MoneyLion, please visit https://www.moneylion.com/terms-and-conditions/.
By clicking on some of the links above, you will leave the MoneyLion website and be directed to a new website. MoneyLion's Terms of Service and Privacy Policy do not apply to the new website; consult the terms of service and privacy policy on the new website for further information. MoneyLion does not endorse or guarantee the products, information, or recommendations provided in linked sites, nor is MoneyLion liable for any failure of products or services advertised on these sites.