topic Re: Open Sky Limit Increase in Credit Cards

Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:25:16 GMT

How soon can you add money to the Open Sky secured card? My Hubbie just received his card in the mail and has already paid his 200.00 minimum. He wants to increase the limit by adding his own money but isn't sure exactly how. Do they have a wait period to add more money?

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:27:39 GMT

@Anonymous wrote:
How soon can you add money to the Open Sky secured card? My Hubbie just received his card in the mail and has already paid his 200.00 minimum. He wants to increase the limit by adding his own money but isn't sure exactly how. Do they have a wait period to add more money?

Im confused. So he has a MINIMUM payment due of 200? If the card is not paid in full why would he want to add more money. The idea of secured cards in general is to use them and pif so that your score will improve thereby allowing you to qualify for unsecured at some point.

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:36:12 GMT

He already paid the 200 to get the card. He wants to increase the 200 limit on his card that is already on there.

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:37:05 GMT

He does not owe 200!!!!

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:39:29 GMT

ohhhh so his limit is 200? You can call them and ask them. I think its 6 months of usage before they allow you to add but im not positive on that.

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:45:09 GMT

Someone please answer this question who has actually had this card.

Re: Open Sky Limit Increase

core — Mon, 09 Mar 2015 00:48:04 GMT

You can add to your deposit as often as you want. In fact they would love for you to do it every day. Because they're going to charge you a $25 fee each and every time you do so.

I don't know if it's a hard or soft pull to increase it though. I never increased mine because I wasn't about to pay a $25 fee just for them to take my money.

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:53:27 GMT

THANK YOU CORE!!!!! Someone who can answer a question and not just guess! I appreciate it😉

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 00:54:27 GMT

He needs to contact customer service, as per the FAQ and Cardholder Agreement. Also, I suggest if he wants to do this he do it sooner rather than later because they start charging for CLIs after the first year.

Re: Open Sky Limit Increase

JLK93 — Mon, 09 Mar 2015 03:11:30 GMT

@core wrote:
You can add to your deposit as often as you want. In fact they would love for you to do it every day. Because they're going to charge you a $25 fee each and every time you do so.

I don't know if it's a hard or soft pull to increase it though. I never increased mine because I wasn't about to pay a $25 fee just for them to take my money.

I have the Open Sky card.

There is no charge for credit limit increases in the first year.

You can increase your deposit any time you want.

After the first year there is a $25 fee for each credit limit increase.

Re: Open Sky Limit Increase

Anonymous — Mon, 09 Mar 2015 03:14:28 GMT

@oilcan12 Are you talking about increasing your own limit with your personal money or Open Sky increasing your limit?

Re: Open Sky Limit Increase

core — Mon, 09 Mar 2015 03:22:56 GMT

He's talking about with a deposit, because there's no way in heck Open Sky is going to give you an unsecured increase.

They must have added the first year free thing after I left, which was oh about 5 years ago, because I certainly don't remember that. Or maybe I just overlooked it at the time. If I had known about that I probably would have added some more during my first year. Note that it takes forever to get your deposit back though, and it will never unsecure, so think over if your deposit money might be better spent elsewhere.

Re: Open Sky Limit Increase

JLK93 — Mon, 09 Mar 2015 03:26:13 GMT

I'm talking about increasing your limit by increasing your deposit.

Open Sky has only started giving CLIs on their own in the last several months. Those CLIs are unpredictable and automatic. You can only request a CLI by increasing your deposit.

Re: Open Sky Limit Increase

JLK93 — Mon, 09 Mar 2015 03:30:25 GMT

@core wrote:
He's talking about with a deposit, because there's no way in heck Open Sky is going to give you an unsecured increase.

They must have added the first year free thing after I left, which was oh about 5 years ago, because I certainly don't remember that. Or maybe I just overlooked it at the time. If I had known about that I probably would have added some more during my first year. Note that it takes forever to get your deposit back though, and it will never unsecure, so think over if your deposit money might be better spent elsewhere.

IIRC, 5 years ago Open Sky was issued by Public Savings. It is now issued by Capital Bank. There were a lot more fees 5 years ago.

Re: Open Sky Limit Increase

core — Mon, 09 Mar 2015 03:33:54 GMT

@oilcan12 wrote:
IIRC, 5 years ago Open Sky was issued by Public Savings. It is now issued by Capital Bank. There were a lot more fees 5 years ago.

Yep, I did sign up under PSB. I was still active when the conversion happened though so maybe I didn't close it as long ago as I thought.

Re: Open Sky Limit Increase

JLK93 — Mon, 09 Mar 2015 03:38:05 GMT

@core wrote:
@oilcan12 wrote:
IIRC, 5 years ago Open Sky was issued by Public Savings. It is now issued by Capital Bank. There were a lot more fees 5 years ago.
Yep, I did sign up under PSB. I was still active when the conversion happened though so maybe I didn't close it as long ago as I thought.

core,

I noticed that you are a member of Fort Knox Credit Union. Was it difficult to get membership.

Re: Open Sky Limit Increase

core — Mon, 09 Mar 2015 03:48:53 GMT

@oilcan12 wrote:
core,

I noticed that you are a member of Fort Knox Credit Union. Was it difficult to get membership.

Oh dear lord YES. It took me two weeks. I had to send in all kinds of crap including tax returns. And they couldn't get it through their little heads that you are not required to file your taxes by April 15th so I didn't have the year that they wanted. I'm honestly surprised they approved me, even after all that. I never would have went through all that if it weren't for the 5% "gas" card.

Re: Open Sky Limit Increase

JLK93 — Mon, 09 Mar 2015 03:53:54 GMT

@core wrote:
@oilcan12 wrote:
core,

I noticed that you are a member of Fort Knox Credit Union. Was it difficult to get membership.
Oh dear lord YES. It took me two weeks. I had to send in all kinds of crap including tax returns. And they couldn't get it through their little heads that you are not required to file your taxes by April 15th so I didn't have the year that they wanted. I'm honestly surprised they approved me, even after all that. I never would have went through all that if it weren't for the 5% "gas" card.

Thanks for the info.