No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
Secured credit cards require a secured deposit on a bank account. These cards are intended for people with limited credit history.
These credit cards are for the average consumer who needs a credit card for personal use.
Yes. The OpenSky secured card is reported to the three major credit bureaus monthly. Therefore, making your monthly credit card payments on time can help build your credit history. Skipped or missed credit card payments are also reported, so try to avoid being late. Late payments can easily damage your credit score.
The credit card issuer will refund your security deposit after you close your credit card account and pay off the card balance in full. To get you deposit back, you should contact the credit card issuer and request a refund.
If you charge your credit card up to the available credit limit, you should pay off all or a part of the balance before you can continue using your credit card and to avoid possible penalty fees. If you fail to make timely monthly payments, then your card will be considered overdue, which will be reported to the credit bureaus and will lower your credit score. If you are unable to pay off your card balance, you should contact customer service at the number shown on the back of your card.
Currently the OpenSky secured credit card cannot be updated to an unsecured account. Capital Bank does not offer unsecured credit cards for consumers. You can keep your secured card as an oldest credit account to continue building a good credit history.