OpenSky® Secured Visa® vs Unsecured Options for Fair Credit
For finding options after graduating from a secured card.
| Factor | OpenSky® Secured Visa® | Unsecured Options for Fair Credit |
|---|---|---|
| Approval | No credit check | Credit check (Fair credit) |
| Deposit | Required ($200 minimum) | Not required |
| Fees | $35 annual fee | Varies by card |
| Reporting | All three bureaus | All three bureaus (typical) |
When to Choose Each
Best for OpenSky® Secured Visa®
Best for OpenSky when you are still building and need a secured card. Use it to establish history before graduating.
Best for Unsecured Options for Fair Credit
Best for unsecured options when you have graduated or improved your score and no longer need a deposit. Compare cards for fair credit.
Neither may fit
Neither may fit if you are between secured and unsecured. Check your score and pre-qualification tools before applying.
Key Differences
- Approval predictability: OpenSky is for those still building; no credit check. Unsecured options require a credit check and typically fair credit (600+).
- Deposit: OpenSky requires a deposit. Unsecured options do not require a deposit. After graduation, you may get your deposit back.
- Cost structure: OpenSky has a $35 annual fee. Unsecured options vary; some have no annual fee. Compare total cost and benefits.
Why We Compare These Two
OpenSky is a starting point for building credit. After 6–12 months of on-time payments, you may qualify for unsecured cards. We compare them to help you understand the path from secured to unsecured.
Summary
Use OpenSky (or another secured card) to build history. After improving your score, compare unsecured options for fair credit. Both report to all bureaus.
Check Your Credit Report for These Common Errors
Before applying for new credit, review your report for mistakes that can lower approval odds.
- Accounts that do not belong to you
- Late payments reported incorrectly
- Paid collections still marked as unpaid
- Duplicate accounts
- Incorrect balances or credit limits
- Negative items older than the legal reporting period
- Hard inquiries you did not authorize
If you find any of these errors, dispute them before applying for new credit.
What Rebuilding Credit Usually Looks Like
Credit improvement is not instant. Most people see progress in predictable stages.
- Month 0–1
- Account approved and opened
- Initial deposit or setup completed
- Credit line reports to bureaus
- Month 2–3
- First on-time payments reported
- Credit utilization stabilizes
- Early score movement possible
- Month 4–6
- Consistent payment history builds
- Approval odds for better cards improve
- Fewer rejections when applying
- Month 6–12
- Graduation or upgrade options appear
- Lower fees and higher limits possible
- Stronger overall credit profile
Results vary based on payment history, balances, and past credit issues.
Full reviews
Read our independent reviews to decide which card fits you best.
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Compare fees, approval odds, and credit-building value before applying.
Part of our Secured Credit Card Comparisons hub. Browse more comparisons there.