Does OpenSky match your deposit?
Does everyone get approved for OpenSky credit card
Because they don't pull your credit report, anyone with a valid Social Security number can apply and be approved. If your credit score is low or if you don't have a credit score, the OpenSky Secured Visa card could be the starting point you need to get your finances on track.
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Do you get your security deposit back from OpenSky
Your security deposit will be returned to you once your account is closed and the balance is paid in full. We may use your security deposit to expedite the pay down of your outstanding balance.
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What is the starting limit for OpenSky
$3,000
Initial credit limit up to $3,000
Like most secured cards, the OpenSky Secured Visa requires a refundable security deposit upfront to determine your initial credit limit. At $200, the low-end of the range is about average for a secured card, and should make it fairly accessible even if you're short on cash.
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How much do you need to deposit for Open Sky credit card
Build credit in four steps
Get started with a minimum deposit the OpenSky secured Visa Credit card's minimum is $200 and up to $3,000 (subject to approval). The OpenSky Plus card's minimum security deposit is $300 and up to $3,000 (subject to approval). From takeout to streaming, every purchase helps you build credit.
Can you be denied an OpenSky credit card
The OpenSky Secured Visa credit card, however, doesn't check your credit when you apply. Even so, it is possible to be denied the OpenSky Visa card for other reasons. Reports to all three major credit bureaus: Your payment and utilization information will be reported monthly to Equifax, Experian, and Transunion.
What is the highest limit on Open Sky credit card
$3,000
Set your own credit limit
With the OpenSky Secured Visa, you can set how much you can spend each month, with a maximum of $3,000 (a much higher cap than many other secured cards).
Why did Open Sky refund my security deposit
Is the OpenSky deposit refundable Yes, your security deposit is fully refundable provided you close your account in good standing. This just means that you've paid all of your outstanding balance.
How long does OpenSky take to refund deposit
Refundable deposit: The OpenSky Secured Visa Credit Card requires a $200 to $3,000 security deposit, and the amount of your deposit will determine your initial credit limit. Your entire deposit will be returned within 10 weeks if your account is closed and you have paid your balance.
How do I increase my OpenSky limit
Just log in your OpenSky account online or mobile app and choose the Request Credit Line Increase option in the Account Services section. We'll review your account, and, if approved, you'll receive an approval letter with instructions on how to send the additional security deposit to fund your new limit.
Does Open Sky charge a monthly fee
There is an $35 annual fee, which means as long as your account is open with them-‐you are giving OpenSky $35 FREE every year. Also the $35 fee is due upon receipt of your new card- so don't be surprise that you have a bill.
How long does open sky take to approve
It usually takes 24-48 hours to get approved for the OpenSky credit card. So, the only thing that involves a bit more waiting is your credit card delivery, which should take about 2 weeks. Of course, application processing will take longer if they're not able to verify your identity right away.
What is the highest credit limit on open sky
ProsIts variable APR is lower than some of the best secured credit cards, making it less costly to carry a balance month to month if you need to.The higher limit of up to $3,000 (by matching with a deposit), makes it easier for cardholders to keep their credit utilization ratio low.
What is the normal credit limit for one card
But even with good credit, the average credit limit you can expect to get with a first credit card is generally between $500 and $1,000. Average credit: If you have fair credit, expect a credit limit of around $300 to $500. Poor credit: Credit limits between $100 and $300 are common for people with poor credit scores.
How long does it take to get your deposit back from OpenSky
Refundable deposit: The OpenSky Secured Visa Credit Card requires a $200 to $3,000 security deposit, and the amount of your deposit will determine your initial credit limit. Your entire deposit will be returned within 10 weeks if your account is closed and you have paid your balance.
Why was my security deposit refunded on my credit card
In most cases, your security deposit will be refunded once your account balance is paid off and the account is closed, or when your secured credit card is converted to an unsecured credit card.
Can you use OpenSky credit card immediately
Once your application has been approved and your security deposit has been received and cleared, you can expect to receive your card within 2 weeks. Once you receive and activate your card, you'll be able to begin using it immediately.
Does Open Sky automatically increase your credit limit
Does OpenSky increase your credit limit You must request all credit increases. In your first year, you can increase your credit limit for free up to a maximum of $3,000 by sending in an additional deposit. In your second year, you will pay $25 to make any changes to your credit limit.
Can you get denied for open sky
The OpenSky Secured Visa credit card, however, doesn't check your credit when you apply. Even so, it is possible to be denied the OpenSky Visa card for other reasons. Reports to all three major credit bureaus: Your payment and utilization information will be reported monthly to Equifax, Experian, and Transunion.
Is Open Sky owned by Capital One
Both are issued by Capital Bank, but there are differences: The Plus version charges a $0 annual fee and requires a $300 minimum security deposit, whereas the non-Plus version has an annual fee of $35 but requires only a $200 upfront deposit. See our comparison table below for more.
Can you use open sky right away
Quick and easy application process
According to OpenSky, it takes just a few minutes to apply for the card. There are only four steps in the application process — and since there's no need for a credit check, borrowers can potentially be approved right away.