OpenSky Credit Card Review: OpenSky Secured Visa Credit Card vs Plus and Launch, Fees, APR and Deposit

OpenSky sells three secured Visa cards from Capital Bank, N.A., and none of them needs a credit check to apply. The original OpenSky Secured Visa costs $35 a year with a 23.89% variable APR and a $200 minimum deposit. The Plus card has no annual fee and a 28.24% APR on a $300 minimum. The Launch card starts at $2 a month, and its own terms raise that to $3 a month after the first year.

We read the current pricing disclosures and cardholder agreements for all three cards (Secured dated 14 January 2026, Plus 14 January 2026, Launch 11 March 2026) rather than relying on other reviews, which is how the Launch fee increase and the Plus APR gap below turned up. CreditPal is a credit coaching tool, not a card issuer, and we earn nothing from OpenSky or any card you choose.

OpenSky credit card fees, APR and deposit in 2026

All three cards are secured: your deposit becomes your credit limit and sits in a pledged account that pays 0% interest. Here is how they compare line by line, taken from each card's pricing disclosure:

Every card has at least a 25-day grace period, so you pay no interest on purchases if you clear the full statement balance by the due date. The minimum payment is the larger of $25 or interest and fees plus 1% of the balance, and if you owe less than $25 you pay the whole thing. The late fee is $30 the first time and rises to $41 if you are late again within six billing cycles.

Is the OpenSky Launch card really $2 a month?

Only for the first year. OpenSky's homepage lists the Launch card's monthly fee as "$2/mo," but the Launch cardholder agreement says: "After the First Year that your Account is open, your annual fee increases to $36 that is to be paid on a monthly basis at $3 per month for as long as you keep your card open."

So the real price is $24 in year one and $36 a year after that. From year two, Launch costs a dollar a year more than the original Secured card, and it carries the higher 28.24% APR. The agreement does let you close at any time to stop future installments, as long as you tell OpenSky before the end of the current billing cycle.

Launch still has one genuine advantage: the smallest deposit. If you can only set aside $100 to $150, it gets you a reported card. If you can find $300, the Plus card has no fee at all, which we cover next.

OpenSky Plus vs OpenSky Secured: which costs less?

For most people, the Plus card. It trades the $35 annual fee for an APR that is 4.35 points higher (28.24% against 23.89%). That extra rate only costs you money on a balance you carry past the due date, and it takes an average carried balance of about $805 for 4.35% to add up to $35 a year.

Since your limit equals your deposit, someone with a $300 Plus card can never carry anywhere near $805. Carry $150 all year and the Plus card costs about $6.50 more in interest than the Secured card would, while saving the $35 fee. You come out roughly $28 ahead, and far more if you pay in full every month, which is also what builds credit fastest.

The Secured card only wins in two cases: you can deposit $200 but not $300, or you plan a large deposit and expect to carry most of it as a balance. The second is a costly way to use any card at 23.89%.

How the OpenSky deposit works, and how you get it back

The pricing disclosures say the deposit is "fully refundable and will be returned after my credit card balance is paid in full." The cardholder agreement adds the timing: OpenSky returns what is left once it is "reasonably assured" your obligations are covered, and "this may take up to eight (8) weeks." If the deposit is used to pay off what you owe, any remainder under $1 is not refunded.

Three contract details that most reviews skip:

• Adding to your deposit is slow. Additional deposit funds must come by check, money order or wire transfer, "not an automated clearinghouse (ACH) payment," and the limit increase can take up to five business days after that.
• You can shrink the card after a year. After 12 months you may ask to lower your limit, down to $150 on Launch, $200 on Secured or $300 on Plus, and get that part of the deposit back.
• Cash advances are capped. They must be at least $20, and the cash advance balance can never exceed 50% of your limit.

Many people fund a secured card deposit from their tax refund. If that is your plan, filing early with an AI tax filing tool gets the refund to you sooner, and the card open sooner.

Does OpenSky do a credit check?

OpenSky markets all three cards with "No credit check to apply," and that is the main reason people search for it. The application terms still have rules. You must be at least 18 with a Social Security Number or ITIN, a US citizen or permanent resident, and state that your monthly income is greater than your monthly expenses. You are also ineligible if you have applied for a Capital Bank card four or more times in the last 60 days, already hold three or more open Capital Bank card accounts, or have a past Capital Bank relationship that is not in good standing.

The state notices for Vermont, Rhode Island and New York say a credit report "may be requested in connection with your application," and OpenSky reserves the right to request reports later on any renewal or extension. The fair reading is that approval does not depend on your score, not that no bureau is ever contacted.

Does the OpenSky card build credit?

Yes, if you use it well. OpenSky states that it reports to all three major credit bureaus, so a card with a low balance and on-time payments adds positive revolving history to Equifax, Experian and TransUnion.

Two things work against a small secured card. First, utilization: on a $200 limit, a $60 balance is already 30%, and a $150 grocery run is 75%. Pay the balance down before the statement closes, not just by the due date, and check the numbers with our credit utilization calculator. Second, the Secured card's $35 fee is charged when the account opens and on each anniversary, so on a $200 card it takes up 17.5% of the line until you pay it.

OpenSky's homepage says that "on average, opensky users improve their credit scores by 47 points in 6 months," and advertises an 89.4% approval rate. Neither claim is explained with a methodology on the page, and a secured card cannot guarantee any score change. Treat them as marketing.

Can you graduate from OpenSky to an unsecured card?

None of the three cardholder agreements contains an automatic graduation clause, and none promises to return your deposit while the account stays open. What the agreements do say is that OpenSky may raise your limit at its discretion, and that you may request an increase at any time, subject to underwriting. OpenSky's homepage says that after 6 to 12 months "you could qualify for a credit limit increase, better cards, loans, and rates."

In practice, the route to getting the deposit back is either closing the account once your file is strong enough for an unsecured card elsewhere, or taking any upgrade OpenSky offers. Before you close it, remember that closing your only card can raise your utilization and shorten your average account age. If you want to see what that does to your score first, run it through a credit score simulator before you call.

Is the OpenSky secured card worth it?

It is worth it if you have no credit or badly damaged credit, have been turned down elsewhere, and can set aside $300 for the fee-free Plus card. It is a weaker choice if you qualify for a secured card from a bank that runs a credit check, because several of those charge no annual fee and offer a path back to your deposit.

A card also only solves one problem: a thin file. It adds a new account with fresh on-time history. It does nothing about the late payments, collections or high balances that are already on your report, and those are usually what keeps a score in the 500s. If you are not sure which situation you are in, that is the question CreditPal answers. It reads your file, explains which factors are costing you the most points, and puts the fixes in order, from $7 a month. We compare the other thin-file options, including Self and Kikoff, in our roundup of credit builder apps, and if you are weighing a loan instead of a card, our MoneyLion Credit Builder Loan review prices that route out.

OpenSky credit card FAQ

What credit score do you need for an OpenSky card?

None. OpenSky advertises no credit check to apply, so there is no minimum score. You do need to be 18 or older with an SSN or ITIN, a US citizen or permanent resident, have monthly income above your monthly expenses, and not already hold three or more open Capital Bank cards.

What is the OpenSky credit card limit?

Your limit equals your deposit. The minimums are $200 on the Secured card and $300 on the Plus card, while Launch has been listed from $100, with $150 as the lowest limit its 2026 agreement lets you reduce to. You can raise the limit by adding deposit funds by check, money order or wire.

How long does it take to get the OpenSky deposit back?

Up to eight weeks after the account is closed and the balance is paid, according to the cardholder agreement. OpenSky first applies the deposit to anything you still owe, and returns the rest once it is sure your obligations are covered. Remainders under $1 are not refunded.

Does OpenSky report to all three credit bureaus?

Yes. OpenSky states that it reports to all three major credit bureaus: Equifax, Experian and TransUnion. On-time payments and a low balance help. A late payment reported by OpenSky hurts just as much as one from any other card.

Is the OpenSky Plus card better than the regular OpenSky card?

Usually, if you can deposit $300. Plus has no annual fee against $35 a year for the Secured card, and its higher APR (28.24% against 23.89%) only costs more than the fee once you carry an average balance of about $805, which a $300 card cannot reach.