How to graduate to an unsecured credit card
Ever wondered how to be considered for an unsecured credit card? Let's look at some tactics to get you there...
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Secured vs. Unsecured: What’s the difference?
Let’s break it down:
- A secured credit card requires a refundable security deposit, which acts as your credit limit. It’s designed to help you build or rebuild credit safely—no credit check required.
- An unsecured credit card doesn’t require a deposit. Instead, your credit limit is based on your credit history and other financial factors. These cards are typically for people with more established credit.
Both types of cards can be powerful tools for building your credit—but they serve different starting points.
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How do I get started with a secured credit card?
Start by choosing a card that’s right for you. Then, apply in just a few minutes.
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With any opensky Secured Credit Card, you’ll get:
- No credit check to apply
- Reports to all 3 credit bureaus
- Helps build credit with responsible use
- Trusted by over 1.6+ million customers
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How Do I Graduate from a Secured Card to an Unsecured Card?
Once you’re approved and your card is activated, using it responsibly can help you build a better credit history. Good news: Opensky is made to help you move on up. If you're an opensky Secured Cardholder, here’s what the road looks like: Make consistent, on-time payments and keep your balance low.
After 6 months, opensky automatically reviews your account for potential upgrade eligibility2.
If you're selected, you’ll be invited to upgrade to the opensky® Gold Unsecured Visa® Credit Card—no new application or deposit needed.
Can I Graduate from a Secured Card to an Unsecured Card?
Yes, with opensky you can! We regularly review accounts for upgrade eligibility based on:
- On-time payment history
- Responsible usage habits
- Length of account
You don’t need to reapply, and your account continues to age (which helps your credit).
How Long Does It Usually Take to Graduate?
Most opensky customers who make consistent on-time payments may become eligible to upgrade after as little as 6 months.
It varies by person—but building a positive credit history takes time and consistency. The good news is: with opensky, you’re already on the right track.
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Key takeaways
- Secured cards require a deposit that becomes your credit limit; unsecured cards don't require deposits and base limits on credit history.
- Secured cards can be a stepping stone to unsecured credit cards. opensky automatically reviews accounts after 6 months of on-time payments for upgrades to our unsecured Gold card—no reapplication needed.
- Most customers become upgrade-eligible in as little as 6 months with consistent on-time payments and responsible use.
I started with a $300 secured card. Used it responsibly, paid on time, and 8 months later, I was invited to upgrade to unsecured. Now my score’s up over 100 points, and I didn’t even have to reapply.
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Frequently asked
What is a "secured" credit card?
A secured credit card requires a one-time refundable security deposit to open and is equal to your credit limit. For example, if you deposit $100, your credit limit becomes $100. The beauty of the opensky secured credit card is that you can open an account without undergoing a traditional credit check. This is especially beneficial if you have a poor credit history or no credit history at all.
How much will a secured credit card raise my score?
Your rate of improvement depends on a few factors, including your current status, payment habits, and your management of this and any other lines of credit. Opensky is designed specifically to help people improve their credit fast, with an online/mobile app and tools like alerts to help monitor your account. Plus you will get considered for credit line increases that turbocharge your growth.
How can I obtain a copy of my credit report?
Federal law states that you can get a free report from each of the three nationwide consumer credit reporting companies - Experian®, TransUnion® and Equifax® - once every 12 months. Don't be fooled by offers from companies to pull your credit report or websites that ask for payment to see your credit report; only https://www.annualcreditreport.com/index.action is the official site authorized by the Federal government.
Is there an annual fee for this card? Are there any hidden charges?
Yes, there is a $35 annual fee for the opensky Secured Visa® Credit Card. There is no annual fee for the opensky Plus Secured Visa® Credit Card. Opensky believes in being upfront. There are no hidden fees or charges. All of our pricing and fee information is transparent and can be reviewed (See cardholder agreements at the bottom of this page).
What is a "credit limit" and how is my credit limit decided?
A credit limit represents the maximum amount you can spend on your credit card subject to approval. You decide the deposit amount, which directly determines your credit limit. It can range from as low as $100 to as high as $3,000, depending on the card you choose. The goal is to ensure you can manage payments effectively and succeed in building your credit! *All applications are subject to approval.
