The OpenSky Secured Visa®, or Sky card as it is more commonly known, is simply one of the best secured credit card deals on the market. It comes with a high, attractive, and extremely affordable annual fee and an extremely high credit score. But does it live up to its massive claims? Let’s find out.

best secured credit card

First, let’s go over how easy it is to rebuild your credit rating. You can spend thousands upon thousands of dollars to get the best secured credit cards out there, and while that is a great way to build your credit, it is not a method that is easy to do without some assistance. If you are serious about building your score and reestablishing your good name, this may be the best approach. In fact, many people do it just fine on their own.

How do you get approved for the OpenSky Secured Visa? It’s important to remember that you will not be getting a direct ‘approval’ to your credit card application. They want you to be interested in their product, but if you don’t show any sign of wanting to apply, you won’t be approved. What they do offer you is a statement that states that you have been approved and that you qualify for their’secured credit cards offer’. In essence, this lets you know that you’re on their list – a list that you need to keep in mind because once approved, that good standing will not be impacted.

Now, how does this information compare to other best secured credit cards? Well, the key here is that you will not receive any sort of notification from the credit union regarding your application. A representative may visit you at work, but they will not call or send you any paperwork. In fact, they will not even tell you that you’ve qualified – all they’ll say is that you qualify for an ‘acute opportunity’.

Here’s what the issuers don’t want you to know: when you submit your application, you are not guaranteed approval. In fact, your application will be shot down right away by these issuers for having the slightest chance of qualifying. Why is this? Simply put, the issuers are taking advantage of all the mistakes that credit card companies make when processing their applications.

By now, you should realize that these issuers are trying to force you into signing up with them through what is called a ‘guaranteed acceptance’ or a ‘advice to deny’, where you are required to pay a huge, obnoxious and unnecessary deposit and will then be forced to pay an annual fee to rebuild your credit rating. And, if you happen to have a low credit score, this can spell disaster! If your deposit requirement is too high, you can get denied. So, if you’re wondering how to find the best secured credit card deals that will not cost you an arm and a leg to rebuild, keep reading.

The best way to find out exactly how much money you’ll need to deposit and start rebuilding your credit is to simply call the issuer that currently holds your current credit card. Call them and ask them directly how much money you will need to deposit into your new account to start rebuilding your credit. Most issuers will be upfront with you and tell you exactly what you need to deposit, including any annual fee that will be charged to you to begin the rebuild process. Once you know exactly how much money you need to start rebuilding your score, go online and search for the best secured credit card offers. Many issuers will offer you cards with lower annual fees and interest rates, which will help you rebuild your credit at a reduced cost.

Once you start using these cards, you will find that you have more options on your spending and less risk. You will also be able to rebuild your credit at a much lower cost than you would if you applied for unsecured credit cards yourself. These unsecured credit cards are great for people with poor credit scores, but if you already have poor credit, you may want to wait until you turn even worse before applying for one of these cards. These unsecured credit cards also tend to come with a higher interest rate than a secured card would, so you will need to keep this in mind when deciding if you should apply. In many cases, you will find that it is easier to rebuild your score by applying for a secured card than it is by applying for an unsecured one.