OpenSky Secured Visa Credit Cardholder Agreement SKY1 046

On the record for OpenSky Secured Visa Credit Cardholder Agreement SKY1 046 2: a 17.39% purchase APR and a $35 annual fee, filed by Capital Bank. Against the 4,587 filings on this site, that rate lands around the 22nd percentile.

What the document actually states

The document behind this page is Capital Bank's filed agreement for OpenSky Secured Visa Credit Cardholder Agreement SKY1 046 2. It is issued on the Visa network and the filing runs 14 pages.

On the record here: a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

A secured agreement

The product name identifies this as a secured card, which means the account is backed by a deposit the cardholder provides. The filing indexed here discloses rates and fees; it is the agreement text that governs how the deposit is held, when it is applied and under what conditions it is returned.

For context, the 17.39% purchase rate lands around the 22nd percentile of all the agreements on this site, which is the useful comparison regardless of the deposit.

Pricing the purchase rate

Measured against every other filing on the site, 17.39% is about the 22nd percentile for purchase APR; it is on the cheaper side of the median.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

Translating the rate into money

Carry $2,500 on this card for a year without paying it down and the purchase rate alone generates roughly $475 in interest.

Measured against the 21.99% corpus median, the same $2,500 costs approximately $140 less per year here.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Charges beyond interest

$35 a year is the disclosed annual fee, which ranks near the 82nd percentile of the fees filed across this corpus.

For scale, $35 is approximately what $201 of revolving balance would cost in interest over twelve months at this card's 17.39% rate.

Taking cash against the card means a cash advance fee of $6 or 5% of the advance, whichever is greater.

Spending abroad costs an extra 3% — about $30 on $1,000 of purchases, independent of interest.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

The grace period

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

What a missed payment costs

On the fee side, a late payment can cost up to $38, which is around the 60th percentile here.

Inside Capital Bank's filed lineup

There are 4 filings from Capital Bank in this index. The others all file the same 17.39% purchase rate. Whatever separates these products, it is not the cost of borrowing.

What the filing does not tell you

The disclosure parsed here does not state balance transfer terms and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Where the authority sits

The filed PDF is linked from this page and runs 14 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

The pricing here is middling by the standards of the index — 17.39% on purchases is near enough to typical. The $35 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves.