![]() ![]() Once your application is approved, you'll receive instructions to submit your security deposit. Your application may be denied if you already have or have recently applied for multiple credit cards with Capital Bank, or if your existing relationship with Capital Bank is not in good standing. You'll need to be a US citizen or permanent resident over 18 years old, and provide a valid social security number or individual taxpayer identification number. ![]() Though you don't have to pass a credit check or link a bank account to get the OpenSky Secured Credit Card, you must meet several other basic requirements for approval. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay. These cards won't be worth it if you're paying interest or late fees. We're focused here on the rewards and perks that come with each card. However, if your credit is severely damaged and you're having trouble getting approved for other secured cards, the OpenSky Secured Credit Card is a useful fallback. If you're in the market for a secured credit card, consider one with no annual fee that earns cash back or other rewards. That's not good value given the other ways you can build or repair credit inexpensively or for free. The OpenSky Secured Credit Card has a $35 annual fee, but it doesn't earn rewards of any kind and has few benefits beyond reporting your data to credit bureaus. The downside is that the card costs you money without offering much in return. However, any loan or credit product that reports to the major credit bureaus can do the same, so while the OpenSky Secured Credit Card can help improve your credit score, that benefit isn't unique to the card. OpenSky also plays up the card as a tool for building credit. Those two features mean you may qualify for the OpenSky Secured Credit Card even if you're ineligible for other secured cards. You also don't need a bank account to apply, since OpenSky offers alternatives to fund your security deposit and pay your bills. There's no credit check, so the card is a viable option even if you have bad credit or no credit history. The main selling point of the OpenSky Secured Credit Card is its accessibility. OpenSky Credit Card Review: Is It the Best Card for You? However, the card charges an annual fee and doesn't offer rewards, so you should only apply when you've exhausted other, better options from our list of the best secured credit cards or best credit cards for bad credit. The OpenSky Secured Credit Card can also help you build or repair your credit score by reporting activity on your account to the major credit bureaus. For those with a negative or non-existent credit history, the OpenSky Secured Credit Card presents a way to get approved without a credit check or bank account ![]()
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