Looking to rebuild your credit score ? Open Sky Secured card can be of help

At some point, we have all taken decisions and that may have lead to financial errors. These mistakes get reflected in the form of a bad credit score. If you have a poor credit score, then the chance of being issued an unsecured credit card are slim. In such a situation applying for a secured credit card is the first step towards credit rebuilding.

Rewards Rate
2 Year Benefits Value

      We are going to explore how to get an open sky secured card and what are the benefits of using this card. 

      To begin the credit rebuilding process, you can fill out the application for the Open Sky secured credit card online. When you apply for this card, Capital Bank does not run a credit check, so there is no impact on your current credit score.

      The Open Sky card requires a deposit based on which the bank will review the card application. The refundable deposit can range anywhere between $200-$3000.Your access to your credit limit will be determined based on your refundable deposit.

      Our view on the benefits of using an Open Sky Secured Card

      • Open Sky Secured card is a Visa card, and you can use it to make any purchase.

      Capital Bank reports regularly to all three bureaus Equifax, Experian, and TransUnion. Over time, this would help in improving the credit score. 

      • This card has a low annual fee of $35. If you are unable to get approval for a secured or unsecured credit card, then the annual fee is a fair trade-off for the opportunity to rebuild your credit. Capital Bank does not run a hard inquiry and verifies your identity for the approval process.
      • Reminders can be set-up on the account so that the payments can remain on track.
      • In comparison to other cards such as Secured Mastercard® from Capital One® and Discover It Secured the variable APR rate on purchases is lower on this card.However, while trying to build your credit score it is not recommended to carry a balance over each month.

      To get the best out of Open Sky Secured card, you must pay back your balance in full, each month on time. If you can keep utilization on your credit card below thirty percent, then the chance of improving your credit score sooner increases. 

      Also, you must track the activities on your credit report and in case of misreporting address the issue with the reporting agency.


      When applying for this card, you must not expect a joining bonus, rewards for purchases, and introductory APR offers. Once your credit score improves, you can move to a better card. 

      When you compare Open Sky Secured card to a Secured Mastercard® from Capital One®, then you lose out on a few benefits such as the chance to increase credit limit with timely repayment, extended warranty, car rental insurance, no foreign transaction fee, and travel accident insurance which are available to Secured Mastercard® from Capital One® card users.

      While Open Sky Secured card has an annual fee, there are other cards such as Secured Mastercard® from Capital One® and Discover It Secured card that doesn’t have an annual fee.

      Open Sky Secured card does charge a foreign transaction fee for purchases made abroad. If the card is not in use then you would be charged an account inactive or dormant account fees.


      So, who should be getting this card ? Open Sky Secured card is for someone who has a poor credit score and wants to use a credit card for credit rebuilding purposes. If you are looking for rewards or benefits then other secured credit cards may be worthy of your consideration.

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