OpenSky Secured Visa Credit Cardholder Agreement SKY1 047a

The OpenSky Secured Visa Credit Cardholder Agreement SKY1 047a filing from Capital Bank sets out a 17.39% purchase APR, a $35 annual fee and a six-month 0% opening period. The purchase rate sits at roughly the 22nd percentile of the 4,587 agreements indexed here.

What this filing discloses

The document behind this page is Capital Bank's filed agreement for OpenSky Secured Visa Credit Cardholder Agreement SKY1 047a. It is issued on the Visa network and the filing runs 14 pages.

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. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

The interest-free window

A six-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 $3,000 balance into approximately $570 of annual interest.

Valued honestly, six months at zero on $3,000 avoids about $285 of interest compared with the go-to rate — the whole of what the promotion delivers.

The purchase rate in context

Set beside the rest of the index, the purchase APR of 17.39% lands at the 22nd percentile; it sits below the middle of the distribution.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

What the rate means in dollars

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $228.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $67 cheaper for the same debt.

Broken down to a single thirty-day cycle, the same balance accrues roughly $17.27.

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.

What a missed payment costs

Late payments are capped at $38 under this filing, about the 60th percentile of late fee maximums in the corpus.

Fees, and what triggers them

Holding the card costs $35 a year before any transaction takes place — about the 82nd percentile among agreements in this index that state a fee.

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

Cash advances carry a cash advance fee of $6 or 5% of the advance, whichever is greater.

Spending abroad costs an extra 3% — about $45 on $1,500 of purchases, independent of interest.

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

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

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

How it sits in the issuer's own range

4 separate Capital Bank filings appear in the corpus. The others all file the same 17.39% purchase rate. Whatever separates these products, it is not the cost of borrowing.

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

What the filing does not tell you

Absent from the captured terms: balance transfer terms and penalty pricing. The original document is the place to look for any of these.

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.

The document itself

Everything here is a reading of the filed agreement, 14 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 17.39% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Against that sits the $35 annual fee, which is unavoidable once the account is open.