Open Sky Visa - Capital Bank - Easy To Get - Hard To PAY !!!

[Anonymous]

Has anyone had any experience with Open Sky Secured Visa by Capital Bank?  

THIS IS LONG .....................................

I opened an account with them when I decided to get a CC after my CB reports said not having a recent CC was hurting my score.  I read all the info I could find and it sounded ok for a subprime card.  You could pay online and check balances, transacations etc.  They took my deposit out of my bank the same day I applied and I thought ok this will work. I initially opened the account with $500.  They do not do a credit check. I was approved (i guess everybody is) and thats where it ended.

I never used the card but they charged the yearly fee $35. That was not an issue, I knew they would but the problems arose when I tried to pay the fee.  I used my outside account to pay from (same one I used for them to get the deposit) and entered all the info. After it populated I noticed the e was left off the end of my last name.  I thought my bank might refuse the ACH because of the wrong name so I tried to delete the account (this was within 5 mintues to setting it up). I then set up the account again with the correct spelling of my name and input the transfer. My bank paid the $35 ACH from the correct set up.  I notfied in writing Open Sky about the issue and received a reply stating it was not a problem.Two days later I see two fees for a returned check and something else to the tune of about $55. I contacted them and referred them to their email stating no problem.  They reversed one of the fees they charged.  By now I know this card and company is not for me. Next I check payments and I see that the $35 that my bank has paid (I see where it was paid) is listed as CHKHLD on the Open Sky account.  I contact them again and they say we hold checks several days to make sure it is paid.  I said ok but it was paid and you have the money.  This stayed that way for over 10 days (after they got the money).  I got worried that it might not credit till after the due date about 3 weeks away so I sent a USPS Money order for $80 to their PO Box payment address.  I never saw this payment credit after waiting about 7 days so I sent another $100 payment to  their street address payment center with a delivery confirmation and signature.  I contacted them about the $80 and the next day I see it listed as a CHKHLD.  I contacted them and said I paid cash for the postal money order why are you holding it.  Same answer to see if it clears (go figure).  It stayed this way for over 12 days.  My avaiable payment was reduced by the payment amounts while they held them so I was down to $385.  I then asked where is the $100 payment you got  over 6 days ago that has not posted.  They said there was some kind of mix up and they posted it the next day with of course a CHKHLD.  They raised my available credit back to $400.  Now I have $180 overpaid on the account so I am in for $680 (including the opening depost). I wait another 15 days and call about the last payment and when would they credit it.  A couple days later I see that the CHKHLD was removed and my account is showing negative $180 over payment which is correct.  

By this time I have had enought so I write them in secure email asking for instructions on how to close the account.  I log back in the next day to see if they answered and I was locked out of my account.  I had printed the terms and conditions so I used the info in it on how to close the account and sent them a letter asking them to close the account and refund my deposit and overpayment.

Overall I think this card could work for rebuilders since no credit check is involved but their payment and posting is outrageous.  15 days to post payments and especially a postal money order is crazy. If you don't stay on top of it this card could cause problems instead of help you solve credit problems.  If you want to worry about your payment posting for a month then maybe it will work for you.  I never used the card, the only charge was the fee they charged.  I have never had so much trouble trying to pay a bill.  Its a good thing I paid it the day it popped up or it would not have been credited before the due date was upon me. 15 days plus is to long to hold payments when they pull money out of your account.  I can undersand a personal check or off brand money order.  It just seems funny that they could pull and post the initial account opening deposit immediately but not payments once you have the account.

I am closing this account, I can't stand the stress or risk a late payment because of CHKHLDs for 15 to 20 days and to lock you out when you asked a question...........what's up with that?  They also take a very long time to respond to questions and are not completely straight forward with their answers (I keep copies of any questions and answers just in case).

Think long and hard if the no credit check policy is luring you to them.  The account is easy to get and hard to manage.

[navigatethis12]

Holding payments isn't exclusive to these people. Chase, Barclays, Discover, all of them will mostly hold payments for new accounts. Most of the time it's for large payments, but they can do it whenever. Usually you can ring the bank and have them confirm the money has left your account. You said you were worried it wouldn't clear until after the due date, but that doesn't matter. Payments have to be dated on the date they receive it, regardless if they don't free up the credit. So even if it didn't post until 2017, you wouldn't be considered late for it. This whole thing does seem like a headache, so sorry that you went through all of this.

[Anonymous]

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@Anonymous wrote:

Has anyone had any experience with Open Sky Secured Visa by Capital Bank?  

THIS IS LONG .....................................

I opened an account with them when I decided to get a CC after my CB reports said not having a recent CC was hurting my score.  I read all the info I could find and it sounded ok for a subprime card.  You could pay online and check balances, transacations etc.  They took my deposit out of my bank the same day I applied and I thought ok this will work. I initially opened the account with $500.  They do not do a credit check. I was approved (i guess everybody is) and thats where it ended.

I never used the card but they charged the yearly fee $35. That was not an issue, I knew they would but the problems arose when I tried to pay the fee.  I used my outside account to pay from (same one I used for them to get the deposit) and entered all the info. After it populated I noticed the e was left off the end of my last name.  I thought my bank might refuse the ACH because of the wrong name so I tried to delete the account (this was within 5 mintues to setting it up). I then set up the account again with the correct spelling of my name and input the transfer. My bank paid the $35 ACH from the correct set up.  I notfied in writing Open Sky about the issue and received a reply stating it was not a problem.Two days later I see two fees for a returned check and something else to the tune of about $55. I contacted them and referred them to their email stating no problem.  They reversed one of the fees they charged.  By now I know this card and company is not for me. Next I check payments and I see that the $35 that my bank has paid (I see where it was paid) is listed as CHKHLD on the Open Sky account.  I contact them again and they say we hold checks several days to make sure it is paid.  I said ok but it was paid and you have the money.  This stayed that way for over 10 days (after they got the money).  I got worried that it might not credit till after the due date about 3 weeks away so I sent a USPS Money order for $80 to their PO Box payment address.  I never saw this payment credit after waiting about 7 days so I sent another $100 payment to  their street address payment center with a delivery confirmation and signature.  I contacted them about the $80 and the next day I see it listed as a CHKHLD.  I contacted them and said I paid cash for the postal money order why are you holding it.  Same answer to see if it clears (go figure).  It stayed this way for over 12 days.  My avaiable payment was reduced by the payment amounts while they held them so I was down to $385.  I then asked where is the $100 payment you got  over 6 days ago that has not posted.  They said there was some kind of mix up and they posted it the next day with of course a CHKHLD.  They raised my available credit back to $400.  Now I have $180 overpaid on the account so I am in for $680 (including the opening depost). I wait another 15 days and call about the last payment and when would they credit it.  A couple days later I see that the CHKHLD was removed and my account is showing negative $180 over payment which is correct.  

By this time I have had enought so I write them in secure email asking for instructions on how to close the account.  I log back in the next day to see if they answered and I was locked out of my account.  I had printed the terms and conditions so I used the info in it on how to close the account and sent them a letter asking them to close the account and refund my deposit and overpayment.

Overall I think this card could work for rebuilders since no credit check is involved but their payment and posting is outrageous.  15 days to post payments and especially a postal money order is crazy. If you don't stay on top of it this card could cause problems instead of help you solve credit problems.  If you want to worry about your payment posting for a month then maybe it will work for you.  I never used the card, the only charge was the fee they charged.  I have never had so much trouble trying to pay a bill.  Its a good thing I paid it the day it popped up or it would not have been credited before the due date was upon me. 15 days plus is to long to hold payments when they pull money out of your account.  I can undersand a personal check or off brand money order.  It just seems funny that they could pull and post the initial account opening deposit immediately but not payments once you have the account.

I am closing this account, I can't stand the stress or risk a late payment because of CHKHLDs for 15 to 20 days and to lock you out when you asked a question...........what's up with that?  They also take a very long time to respond to questions and are not completely straight forward with their answers (I keep copies of any questions and answers just in case).

Think long and hard if the no credit check policy is luring you to them.  The account is easy to get and hard to manage.

---

What a pain!

But look at the bright side.

You have learned a ton. !

[Anonymous]

If I read correctly this is/was your first and only credit card. Generally when a new account is opened a lot of lenders will hold payments anywhere from a few days to 2 weeks. After the first few statements you will see the holds disappear. The bank just needs to learn your payment patterns until they're comfortable. This can also happen with established accounts if you change the payment source. As long as your credit card receives the payment before the due date you will not be considered late regardless of the hold. So you make a payment on the 5th for a payment due on the 12th, and the hold isn't releases until the 15th, you won't get hit with a late payment. 

its usually easiest to pay by 'pushing' the payment. This means using your banks bill pay system and having them send the money instead of using the online payment function on the card issuers website. There is less payments holds this way because it's your own bank taking the money out of your account and sending it to the CC company. Also, if you make a small error like you did with your name you can just cancel the payment and not worry about getting hit with a returned and/to late payment fee from your bank. 

Since your card is now closed you could look into getting one from Cap One. Check there prequalify first and you may be pre approved for an unsecured card. If not they have a great secured card. 

[Anonymous]

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@navigatethis12 wrote:

Holding payments isn't exclusive to these people. Chase, Barclays, Discover, all of them will mostly hold payments for new accounts. Most of the time it's for large payments, but they can do it whenever. Usually you can ring the bank and have them confirm the money has left your account. You said you were worried it wouldn't clear until after the due date, but that doesn't matter. Payments have to be dated on the date they receive it, regardless if they don't free up the credit. So even if it didn't post until 2017, you wouldn't be considered late for it. This whole thing does seem like a headache, so sorry that you went through all of this.

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Thanks for your input.  I can deal with a couple days 2 -3 (for a $35 dollar annual fee)  but 15 or more for any paymentes when I see the money is gone out of bank account and shows it was paid to you.  Can't hang with that, had to let it go. 

[Anonymous]

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@Anonymous wrote:

If I read correctly this is/was your first and only credit card. Generally when a new account is opened a lot of lenders will hold payments anywhere from a few days to 2 weeks. After the first few statements you will see the holds disappear. The bank just needs to learn your payment patterns until they're comfortable. This can also happen with established accounts if you change the payment source. As long as your credit card receives the payment before the due date you will not be considered late regardless of the hold. So you make a payment on the 5th for a payment due on the 12th, and the hold isn't releases until the 15th, you won't get hit with a late payment. 

its usually easiest to pay by 'pushing' the payment. This means using your banks bill pay system and having them send the money instead of using the online payment function on the card issuers website. There is less payments holds this way because it's your own bank taking the money out of your account and sending it to the CC company. Also, if you make a small error like you did with your name you can just cancel the payment and not worry about getting hit with a returned and/to late payment fee from your bank. 

Since your card is now closed you could look into getting one from Cap One. Check there prequalify first and you may be pre approved for an unsecured card. If not they have a great secured card. 

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This was not my first card, it was a card that I obtained after not using CC's for over 10 years.  My oldest card (though closed is 46 years). My report analysis recommended CC accounts so I figured this one was easy to get without a lot of hassle and it was.  However paying was a different story.  I do have 6 other cards with generous limits and available credit which is more than enough for me.  I do not carry balances so the Open Sky headache had to go.  Wasn't worth it to me but could be helpful to someone else who can handle the stress and their communication is lacking.

[Anonymous]

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@Anonymous wrote:

---

@Anonymous wrote:

Has anyone had any experience with Open Sky Secured Visa by Capital Bank?  

THIS IS LONG .....................................

I opened an account with them when I decided to get a CC after my CB reports said not having a recent CC was hurting my score.  I read all the info I could find and it sounded ok for a subprime card.  You could pay online and check balances, transacations etc.  They took my deposit out of my bank the same day I applied and I thought ok this will work. I initially opened the account with $500.  They do not do a credit check. I was approved (i guess everybody is) and thats where it ended.

I never used the card but they charged the yearly fee $35. That was not an issue, I knew they would but the problems arose when I tried to pay the fee.  I used my outside account to pay from (same one I used for them to get the deposit) and entered all the info. After it populated I noticed the e was left off the end of my last name.  I thought my bank might refuse the ACH because of the wrong name so I tried to delete the account (this was within 5 mintues to setting it up). I then set up the account again with the correct spelling of my name and input the transfer. My bank paid the $35 ACH from the correct set up.  I notfied in writing Open Sky about the issue and received a reply stating it was not a problem.Two days later I see two fees for a returned check and something else to the tune of about $55. I contacted them and referred them to their email stating no problem.  They reversed one of the fees they charged.  By now I know this card and company is not for me. Next I check payments and I see that the $35 that my bank has paid (I see where it was paid) is listed as CHKHLD on the Open Sky account.  I contact them again and they say we hold checks several days to make sure it is paid.  I said ok but it was paid and you have the money.  This stayed that way for over 10 days (after they got the money).  I got worried that it might not credit till after the due date about 3 weeks away so I sent a USPS Money order for $80 to their PO Box payment address.  I never saw this payment credit after waiting about 7 days so I sent another $100 payment to  their street address payment center with a delivery confirmation and signature.  I contacted them about the $80 and the next day I see it listed as a CHKHLD.  I contacted them and said I paid cash for the postal money order why are you holding it.  Same answer to see if it clears (go figure).  It stayed this way for over 12 days.  My avaiable payment was reduced by the payment amounts while they held them so I was down to $385.  I then asked where is the $100 payment you got  over 6 days ago that has not posted.  They said there was some kind of mix up and they posted it the next day with of course a CHKHLD.  They raised my available credit back to $400.  Now I have $180 overpaid on the account so I am in for $680 (including the opening depost). I wait another 15 days and call about the last payment and when would they credit it.  A couple days later I see that the CHKHLD was removed and my account is showing negative $180 over payment which is correct.  

By this time I have had enought so I write them in secure email asking for instructions on how to close the account.  I log back in the next day to see if they answered and I was locked out of my account.  I had printed the terms and conditions so I used the info in it on how to close the account and sent them a letter asking them to close the account and refund my deposit and overpayment.

Overall I think this card could work for rebuilders since no credit check is involved but their payment and posting is outrageous.  15 days to post payments and especially a postal money order is crazy. If you don't stay on top of it this card could cause problems instead of help you solve credit problems.  If you want to worry about your payment posting for a month then maybe it will work for you.  I never used the card, the only charge was the fee they charged.  I have never had so much trouble trying to pay a bill.  Its a good thing I paid it the day it popped up or it would not have been credited before the due date was upon me. 15 days plus is to long to hold payments when they pull money out of your account.  I can undersand a personal check or off brand money order.  It just seems funny that they could pull and post the initial account opening deposit immediately but not payments once you have the account.

I am closing this account, I can't stand the stress or risk a late payment because of CHKHLDs for 15 to 20 days and to lock you out when you asked a question...........what's up with that?  They also take a very long time to respond to questions and are not completely straight forward with their answers (I keep copies of any questions and answers just in case).

Think long and hard if the no credit check policy is luring you to them.  The account is easy to get and hard to manage.

---

What a pain!

But look at the bright side.

You have learned a ton. !

---

It was definitely a pain in the wrong place for me.  Nothing was wrong with the concept or the card, I just wanted to make sure I don't have any  late payments on anything for any reason and their policies and systems caused me great stress that I don't need for $500. For someone else it may be the best thing since sliced bread especially if they cannot get any other card at the time.  Thanks for your post.