OpenSkyCC Secured Visa Credit Card Review

OpenSkyCC Secured Credit Card Review

OpenSkyCC.com Secured Visa Review

OpenSkyCC.com review: The OpenSkyCC offer is the Open Sky Secured Visa Credit Card and it’s designed to help you rebuild your credit history. There are no special perks or frills attached to this credit card after all it’s designed for people with bad credit to help them improve their FICO score.

You simply won’t find a secured card that offers any types of rewards so as far as secured cards go, the OpenSkyCC is a really good offer. However, once you apply for this card and use it responsibly you can start building your credit score and down the road you could qualify for a rewards card.

Use The Open Sky credit card to start rebuilding your credit history and apply online today, below is a review of some of the benefits you get when you apply online right now.

4 / 5 stars     

Review of the Open Sky Visa Card Offer Details

The following information is accurate at the time of writing this OpenSkyCC review. Please make sure you look at the application details when you apply for up-to-the-minute details.

Credit Line Limit: The amount of credit you can get ranges from as little as $200 up to $3000. The line of credit you are issued will depend upon the amount of a security deposit you make.

What you need to realize is this is a secured credit card which means your line of credit is equal to the amount of your security deposit. Your security deposit is held by the bank in case you don’t pay your card.

You also need to realize that the security deposit you place towards your line of credit can not be used to make your credit card bill payments, again the security deposit you put down on the OpenSkyCC secured Visa Card is held by the issuing bank (Capital Bank) in case you neglect to pay your credit card balance.

Interest Rate: Just like any regular credit card, there are interest charges on outstanding balances owing. At the time of writing this review the interest rate is 17.5%, which is quite low for this type of credit card.

Annual Fee: There is a small annual fee of only $29 however it’s worth the nominal fee in order to start rebuilding your credit history.

Does Open Sky Report to Credit Bureaus? Yes, the Open Sky Secured Visa Card reports to the 3 major credit bureaus every month. So make sure you pay at least your minimum payment and pay it on time every month to ensure you have a positive impact upon your credit score.

What Happens with my Deposit? Your security deposit is held at an FDIC insured bank account and remains in place for the duration of you being an Open Sky Visa Card holder until you close your account and have paid all outstanding balances owing.

Sometimes your security deposit is returned to you prior to closing your Open Sky Visa account if the issuer, Capital Bank, is satisfied you are not at risk to default on your credit card payments. This rarely happens so don’t hold your breathe waiting for your security deposit to be returned to you while your account is still open.

As far as secured credit cards go, the OpenSkyCC offer from Capital Bank is quite a good deal because you can have a secured credit line as low as only $200, which is nice if your only goal with this card is to rebuild your credit. After all who wants thousands of dollars tied up in a security deposit. Plus the annual fee and interest rates are very reasonable in the category of secured credit cards.

Start rebuilding your credit history now and apply online for the Open Sky Visa Card now!

4 / 5 stars     
4 / 5 stars     

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