OpenSky Secured Visa Credit Cardholder Agreement SKY1

On the record for OpenSky Secured Visa Credit Cardholder Agreement SKY1 047: a 17.39% purchase APR, a $35 annual fee and a three-month 0% opening period, filed by Capital Bank. That purchase rate ranks near the 22nd percentile across this corpus of 4,587 filings.

What the agreement puts on the record

This page covers the agreement Capital Bank filed for OpenSky Secured Visa Credit Cardholder Agreement SKY1 047. The filing runs 14 pages, and It is issued on the Visa network.

Terms captured from the document include 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.

The promotional period

A three-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

Once the introductory period ends the rate becomes 17.39%, which turns a lingering $2,000 balance into approximately $380 of annual interest.

Valued honestly, three months at zero on $2,000 avoids about $95 of interest compared with the go-to rate — the whole of what the promotion delivers.

The purchase APR against the corpus

Set beside the rest of the index, the purchase APR of 17.39% lands at the 22nd percentile; it is on the cheaper side of the median.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

What the rate means in dollars

Carry $4,000 on this card for a year without paying it down and the purchase rate alone generates roughly $760 in interest.

The corpus median purchase rate is 21.99%, which on the same $4,000 would cost about $983 a year. This filing saves roughly $224 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $57.57.

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

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

Fees, and what triggers them

The annual fee is $35, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 82nd percentile.

One way to size that fee: at the card's own purchase rate of 17.39%, $35 is roughly the interest a balance of about $201 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

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

Foreign transactions attract 3%. On $1,500 of overseas spending that is $45, charged on top of whatever exchange rate applies.

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

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

What a missed payment costs

$38 is the disclosed ceiling on a late payment fee, placing it near the 60th percentile of the set.

The issuer's other agreements

There are 4 filings from Capital Bank in this index. Pricing across this issuer's filings is uniform at 17.39% — the rate table does not distinguish one of its cards from another.

Its $35 annual fee is higher than 0 of the 3 sibling filings that state one.

What is outside the disclosure

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.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Go to the source

This summary stands or falls on the linked PDF — 14 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

17.39% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Against that sits the $35 annual fee, which is unavoidable once the account is open.