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Rebuild Your Credit In 6 Months Or Less With The OpenSky® Secured Credit Visa® Card

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Suffering from poor credit brings forth all manner of problems. Once a credit score drops into the territory of fair and below, the ability to procure more credit becomes extremely difficult.

Someone may wonder why a person with bad credit needs access to a credit card. Wouldn’t more borrowing get the person into more trouble? If he/she does not pay back the borrowed funds, more trouble will follow. The already bad credit score could even get worse. However, additional borrowing may be necessary to rebuild credit. This is where the OpenSky® Secured Credit Visa® Card can prove quite helpful.

How the OpenSky Secured Credit Visa® Card Works

A person with poor credit frequently finds it difficult to be approved for a new credit card. The reason is credit card companies do not want to take on too much risk. A person whose current credit score reflects trouble paying back debts won’t find too many traditional credit card companies willing to approve an application. The bad credit OpenSky card, however, is much more accessible. If you want to rebuild your credit, this card can help the cause. As the name note, this is a secured card. The card is a secured Visa, which means a deposit must be placed in order to receive the card. The deposit acts as collateral.

With the OpenSky card, initial accounts range from $200 to $3,000. So, a cash deposit in the amount of the credit line must be made. With a $250 line of credit on the card, applicants must deposit a matching $250. The card can be used as any other credit card. If the account holder does not pay back the amount owed, OpenSky withdraws funds from the deposit. The security deposit does not remain held by the lender forever. A six-month term could be imposed. After the time period expires, the collateral deposit is released. Then, the card can be used without any money held against the account.

Rebuild Your Credit With Payments

Several different factors go into lowering a credit score. Paying down debt is one. Re-establishing a history of timely debt payments would be another. Unfortunately, when no one else chooses to issue any credit, repaying debt and presenting a new track record of responsibility becomes very difficult. After seven years, all previous bad marks on a credit score disappear but this remains a long time to wait. Being proactive and taking additional steps to improve a credit score must be done. Paying down debt and paying all obligations on time are among those very necessary steps.

Build Your Credit Score

Not everyone turned down for a credit card has bad credit. Some simply possess no credit history. Again, credit card companies want to be reasonably sure the person they approve of a card can and will pay the money back. With no previous credit history, the credit card company has nothing to go on. The no credit OpenSky card brings forth a solution.

Just as would be the case for someone with bad credit, a person with no credit would apply for the card and make the necessary deposit. Not much else changes. After using the no credit OpenSky card for some time and making timely payments, a credit history begins to be established. This can later help when seeking additional credit cards or choose to apply for a personal or auto loan.

Acquiring the OpenSky Visa Card

The process for acquiring this bad credit OpenSky card doesn’t come with too many hoops to jump through. Filling out an application online won’t even take too much time or effort. Other steps required during the application process include the actual funding of the collateral. Doing so won’t require too much work. The company goes to great lengths to make sure applying remains easy. People with poor or no credit may already be under stress. OpenSky secured credit doesn’t want to add to that stress. So, the means of applying does not come with lengthy, difficult steps.

Bad Credit Causes Troubles

Bad credit can rear its problematic head in many areas of life. Credit checks are performed for all manner of reasons. Fair or not, a credit score provides third-parties with a profile of an individual. Sometimes, poor credit can be deemed a sign of irresponsibility. That can be most unfair. The OpenSky Visa Card helps with rebuilding a credit score and addressing troubles that go with a poor score.