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Regular Contributor
Posts: 123
Registered: ‎07-01-2009
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opensky secured

so from the looks of it, the opensky secured card seems like the best option for getting a secured credit card.  i mean there is no credit check, you can make additional deposits to have cli, and it reports to all 3 bureaus, along with just reporting as cc, not secured.  thoughts?

Valued Contributor
Posts: 1,206
Registered: ‎02-19-2012
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Re: opensky secured

From what I can gather the only one who might look down on secured cards is Amex many say that they dont like to see cards like 1st premier in your wallet because they assume you are a horrible credit risk I got the card cause I had No credit and its just a stepping stone.  Make your deposit is  as high as you can so your utilization stays low helping your numbers but it really doesnt matter if it builds your score the only time anyone sees the actual report is on manual review, mortgage or auto loan So just pay in full and scan these boards if you need any help cleaning up your act!!! GOOD LUCK!


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

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Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
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Re: opensky secured

Try cap1 or orchard?

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

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Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
0

Re: opensky secured

Says it's no longer available?

 

http://www.dailymarkets.com/personal-finance/2010/11/15/public-savings-bank-secured-card-review/

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Regular Contributor
Posts: 123
Registered: ‎07-01-2009
0

Re: opensky secured

 i guess there are multiple cards with similar name, this one is the one i was talking about https://www.openskycc.com/

Regular Contributor
Posts: 229
Registered: ‎12-12-2010
0

Re: opensky secured

[ Edited ]

dalasdon wrote:

so from the looks of it, the opensky secured card seems like the best option for getting a secured credit card.  i mean there is no credit check, you can make additional deposits to have cli, and it reports to all 3 bureaus, along with just reporting as cc, not secured.  thoughts?


Hi, I personally wouldn't say its the "best" option, but it's definitely an option for rebuilding or starter building, especially if you've been unsuccessful with other cards and/or you don't want the inquiries. One thing I would emphasize is that interest starts accruing IMMEDIATELY (upon date the purchase posts), so be careful if you plan to carry balances.

 

Good luck rebuilding!

 

ETA: I do have this card, and have had it for about 2 months (or a little less).


Starting Score: 576 EQ 1-12-13
Current Score: 588 EQ 2-3-13
Goal Score: 650


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Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
0

Re: opensky secured


dalasdon wrote:

 i guess there are multiple cards with similar name, this one is the one i was talking about https://www.openskycc.com/


Open Sky is now Capitol One. Keep that in mind.

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Regular Contributor
Posts: 123
Registered: ‎07-01-2009
0

Re: opensky secured

Where did you get that from? I was told by them it was its own bank meaning capital bank out of pa.
Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
0

Re: opensky secured


dalasdon wrote:
Where did you get that from? I was told by them it was its own bank meaning capital bank out of pa.

My apologies.  It is capital bank and NOT CapOne.

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Frequent Contributor
Posts: 342
Registered: ‎02-10-2012
0

Re: opensky secured

I don't like that it accrues interest immediately, so I never tried for it. I got the First Progress card. I've only had it a couple of weeks but it started reporting to EQ before I even had the card. Last week, it started reported on TU. I'm just waiting on it to hit EX now. It's $300 deposit for a $300 CLI with a $39 annual fee. They only put an inquiry on EX.


Starting Score: EQ = 550; TU = 491(2/10/12)
Current Score: EQ = 669; TU = 674(6/20/14)
Goal Score: 700+


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