OpenSky SCC- the worst secured credit card

[Anonymous]

I would hardly call this the WORST secured card as there are many others with much higher minimum deposits and interest rates. 

[Anonymous]

I'm very happy you closed that awful card, but if you want to see a true monstrosity, take a gander at this card, if you dare.

http://www.beverlyharzog.com/verve-credit-card-review/

[Anonymous]

HI I was planning on getting this card because of like no credit check required and also as additional credit account. I am currently trying to improve my credit score (eqfx fico 644) to 700 plus.  I am wondering is it negative if the card report it as secured account. Also is there any addition costs that were not mentioned on website( like you mentioned about 1 dollar charge for balance statement). your reply would be appreciated.

[yfan]

I think I am going to apply under the name Yougotta B. Kiddingme.

[daybreakgonesXe]

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@Anonymous wrote:

HI I was planning on getting this card because of like no credit check required and also as additional credit account. I am currently trying to improve my credit score (eqfx fico 644) to 700 plus.  I am wondering is it negative if the card report it as secured account. Also is there any addition costs that were not mentioned on website( like you mentioned about 1 dollar charge for balance statement). your reply would be appreciated.

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Spandipen,

Hello! Since your score is not that bad, may I recommend the SDFCU secured card instead? No credit check as well, 6.99% APR, no FTF, no annual fee, reward points, and EMV included!

The secured notation will not hurt your credit.

https://www.sdfcu.org/emv-creditcards

[Chaselover]

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@Anonymous wrote:

HI I was planning on getting this card because of like no credit check required and also as additional credit account. I am currently trying to improve my credit score (eqfx fico 644) to 700 plus.  I am wondering is it negative if the card report it as secured account. Also is there any addition costs that were not mentioned on website( like you mentioned about 1 dollar charge for balance statement). your reply would be appreciated.

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The secured notation will not hurt your credit but if you apply and try to recon other cards, lenders will always have a point that its a secured card. 

[yfan]

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@Anonymous wrote:

HI I was planning on getting this card because of like no credit check required and also as additional credit account. I am currently trying to improve my credit score (eqfx fico 644) to 700 plus.  I am wondering is it negative if the card report it as secured account. Also is there any addition costs that were not mentioned on website( like you mentioned about 1 dollar charge for balance statement). your reply would be appreciated.

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You don't need a secure card. There are plenty of unsecure, no AF cards you can get with a FICO of 644. I speak from experience. You may be able to easily get a Capital One Platinum (no rewards, but also no AF), or try some shopping cart tricks. When my FICO was 635, I was able to get both a Capital One and the Amazon Visa from Chase.

Don't worry so much about HPs. Unless you have a ton, it won't matter. Just don't get in the habit of applying for every credit card in sight.

[JLK93]

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@Anonymous wrote:

HI I was planning on getting this card because of like no credit check required and also as additional credit account. I am currently trying to improve my credit score (eqfx fico 644) to 700 plus.  I am wondering is it negative if the card report it as secured account. Also is there any addition costs that were not mentioned on website( like you mentioned about 1 dollar charge for balance statement). your reply would be appreciated.

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You probably don't need a secured card.

However, to set the record straight.

Open Sky reports to all 3 bureaus as an unsecured card.

There is a grace period. That was changed a couple of years ago, IIRC.

There is not a charge for each statement.

Open Sky may not be the best secured card out there, but it has worked out very well for me.

Also, the customer service reps have always been very nice and helpfull any time I have spoken to them.

[Anonymous]

Hi Thanks for all your replys. My main concern was to buid credit for mortgage application and while discussing with lender I was shocked after I realised my lower credit score and interest implications. I have sofar tried to apply for credit cards with PNC bank and discover and both rejected my applications. Also started noticing these applications were having a dent on my score. I have a 30 day late payment which seem to have very much negative impact along with short credit history. Sofar never had any credit accounts exept line of credit in my local credit union which was source of 30 day late payment. So I am kind of trying to get good result with minimum decrease from credit checks. thats reason for application where there is no credit checks. I will check out SDFCU (thanks daybreakgoneXe)

Thank you olican12, Chaselover and yfan for your helpful comments

[Anonymous]

I saw this one being offered but I took my chances with Cap1. I've no complaints. Significant score jumps, they gave me $200 CL for $49 dep but I increased the CL to $800 for Util purposes. 2 months with the card and I've paid no interest. I'm happy.