How to Cancel an OpenSky Credit Card: Step-by-Step

Updated

Are you ready to say goodbye to OpenSky? If you want to sever ties with OpenSky by closing your account entirely, we will give you the steps to make that happen. 

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Closing a credit card is more complicated than cutting up your card. Before you take steps to close your account, make sure you make arrangements to have automatic charges switched to another credit or debit card. This will keep you from receiving a frantic text from your teen wondering why the Netflix account isn’t working. 

If you plan to cancel your credit card soon, quit using it. Additionally, ask your authorized users to stop using the card. Then, pay off the balance as quickly as possible so that you will be under no obligation to the company.

Once you are prepared to close your account, here are the steps for canceling your OpenSky credit card. 

How to Cancel Your Own OpenSky Credit Card

According to the company website, OpenSky credit card is “designed for those who want to improve their credit score, but have had difficulty getting a credit card because of a low score or no credit.”

Once you have improved your credit score, you may be ready to cancel your credit card account. Here are the options for contacting customer service to make that happen.

Step 1: Contact the customer service department at OpenSky.

The company website instructs cardholders to use the phone number listed on their billing statement or on the back of their credit card. The website lists this number as being 1-800-859-6412. The customer service hours are not listed on the website. 

Step 2: Make sure you receive your security deposit back from the company. 

OpenSky credit card is a secured credit card. This means that you need to pay a deposit to use the card. For example, when a consumer opens an OpenSky credit card account, they might be required to provide a $200 security deposit. This typically means that the spending limit on the credit card is $200.

After successfully managing your account, some secured credit card companies will allow cardholders to switch to a traditional credit card with a higher (and unsecured) spending limit. Some choose to close their OpenSky credit card because the interaction with the company may have improved their credit score enough to get a typical credit card with lower interest rates. 

If you are ready to close your account with OpenSky, make sure you receive the security deposit back from the company. You’ll receive the deposit once your account is paid in full. However, OpenSky might use the security deposit to “expedite the pay down of your outstanding balance,” which means you won’t receive your deposit back.

Typically, an account holder will receive their deposit in the mail in less than four weeks after closing the account. However, the company cautions that it might take up to eight weeks. 

Try to time your account closure so that you are not charged an annual fee for the following year. 

How to Cancel a Deceased Loved One’s OpenSky Credit Card

Please accept our sympathies if you recently lost a loved one. We know that you might be feeling overwhelmed with all there is to do following the death of a close family member. Besides planning the funeral and going through their personal items, the executor of the estate also has to pay off debts using the assets and distribute the remaining assets to the beneficiaries. 

Some of your loved one’s accounts may be simple to close. For example, using your loved one’s password manager, you can stop their streaming services without notifying the company that your loved one died. However, closing your loved one’s credit card account will require that you have a copy of your loved one’s death certificate

We know that tackling these projects while grieving your loss may feel overwhelming. That’s why Cake provides resources for families who are new to end-of-life planning. 

If your loved one had an OpenSky credit card, here are the steps for closing their account. 

Step 1: Contact the OpenSky customer service department. 

Call 1-800-859-6412 to talk with a member of the OpenSky customer service department.

Step 2: Explain that your loved one died and ask the steps for closing the account.

You may be required to provide a copy of the death certificate before closing the account.

In most cases, the credit card company will have already flagged your loved one’s account following the death.

If you are working with a full-service funeral home, a staff member will typically notify the Social Security Administration about your loved one’s death. This agency will then send notice to the major credit bureaus in the country, and your loved one’s social security number will be flagged. This reduces the likelihood of fraud from occurring. 

Make sure that the Social Security Administration is notified after your loved one’s death. Ask the company making the arrangements if this is part of their services. If not, you need to contact the agency yourself.

Frequently Asked Questions: Canceling an OpenSky Credit Card

The agreement that you sign when opening any credit card is typically long. For example, the OpenSky credit card agreement is 14 pages. 

Here are a couple of other questions you might have regarding your OpenSky credit card. We have read through the credit card agreement to find answers to your questions. 

How can you remove an authorized user on your OpenSky card?

According to OpenSky, if the cardholder allows any other person to use their card, that person will be an “Authorized User.” You are responsible for all the transactions completed by an Authorized User.

If you wish to remove an authorized user from your OpenSky account, it is your responsibility to get any cards, checks, or other means of access to your account from the Authorized User and destroy them or return them to the credit card company.

However, under the FAQs on the OpenSky website, the company reports that you can add or remove an authorized user by calling the number on the back of your card. Adding an authorized user can be done only after being approved for an account – not during the application process.

Is there a fee or a penalty to cancel your OpenSky card?

There does not seem to be a cancelation fee for OpenSky. However, there is a $35 annual fee for having an OpenSky credit card. Be aware of when you will be charged the $35 so that you can close your account before being charged for the following year.

It is also worth noting that you will be charged a fee if you have no activity on your account. The inactive account fee is $10 per month after 12 months of no activity. The dormant account fee is $10 per month after 36 months of no activity.

Do You Need More Help?

If your loved one passed away while having an OpenSky credit card, hopefully, you can use the information found in this article to close their account. However, we know that closing this one account might be one out of dozens of tasks that need to be completed following your loved one’s death.

Unfortunately, there might be financial reasons that you need to move rather quickly with your loved one’s end-of-life matters. For example, you might need to sell their house quickly if there is a mortgage. If your loved one rented, you might need to clear away their personal belongings quickly so the landlord can find a new tenant.

Refer to Cake's post-loss checklist for a complete list of what to do when a loved one dies. Hopefully, your loved one left behind their end-of-life plans so that you know their preferred method of disposition and final resting place.


Source:
  1. OpenSky Secured Visa Credit Card Agreement.” Accessed 29 November 2021.

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