The majority of financial advisors are big supporters of using secured credit card as a credit history savior. The best thing about the secured credit card is everyone can use it even if they hold a bad credit score. Almost everyone was accepted and their credit score was improved drastically. You also can experience this benefit by using Opensky Secured Visa Credit Card.
There are a lot of secured credit card providers out there. However, if you don’t have a credit history before, Opensky Secured Visa Credit Card is the best choice above all. A checking account and credit score is not required during enrollment. In addition, you can apply the service online and it takes impressively only 10 minutes. Then you can expect the arrival of the card for approximately a week after the online application. Thus, the process of getting the card is simpler and quicker than other providers.
In general, Opensky Secured Visa Credit Card online application consists of four sections. Personal information obviously required along with the financial information. Then you have to choose the starter credit limit desired and fund the security deposit.
The credit limit will be accepted based on creditworthiness which can be seen from whether the applicant has a job or not. Make sure you have a decent job first before applying Opensky Secured Visa Crdeit Card. By having a job, you are proving to lenders that you have capability to pay all bills in the future.
Perks Offered by Opensky Secured Credit Card
Opensky allows you to determine your credit card limit based on the amount of security deposit. The minimum range set by Opensky is $200 and the maximum amount of the credit limit is up to $3000. This is a relative low amount rather than other secured card providers since they may charge you around $500 for the minimum deposit. Opensky Secured Visa Credit Card accepts security deposit payments through debit card, wire transfer, check or money order. Therefore, you don’t need a bank account if you want to use this card.
However, if you wish to expand the Opensky secured Visa Credit Card limit, you can call them and request for it. The instruction for having additional security deposit will be given to you once it is approved. Though it is not written on the Terms and Agreement, Opensky will charge you up to $25 for this request.
As mentioned above, Opensky does not check the applicant’s credit history. However, Opensky still reports to all three major credit bureaus monthly. So, when the credit card balance is regularly paid, your credit score will be impressively boosted. This Opensky Secured Visa Credit Card benefit really help cardholders who wish to repair their shaky credit score – or even for those who want to build a new one.
Our verdict is clear: Opensky Secured Visa Credit Card is suitable for everyone with trembling or non-existent credit score. Be wise and responsible during the secured credit card usage to achieve good credit score. A high credit score will open many opportunities for you in the future.