SKYPASS Visa® Secured Card Review

 Card Stats:

korean air skypassMinimum Security Deposit: $300
Maximum Security Deposit: $5,000

Interest Rate: 16.24%
Introductory Interest Rate: None
Grace Period: 24-30 days
Foreign Transaction Fees: 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars (3% in foreign currency)
Annual Fees: $50
Application Fees: None
Rewards Program: Yes, earn 1 SKYPASS miles per $1 spent. Bonus 1,000 points on renewal
Signing Promotion: Yes, 5,000 bonus SKYPASS miles with the first purchase made
Interest Earned on Security Deposit: Yes, money is deposited into a FDIC insured savings account. Click to view rates.

Other Features:

  • Zero Fraud Liability
  • Fraud Protection
  • Travel & Emergency Assistance
  • Auto Rental Collision Damage Waiver
  • Travel Accident Insurance
  • Free Internet Banking
  • Automatic Bill Pay

Editor’s Review

This review was provided by William Charles, editor of Doctor of Credit. 

This is another secured credit card offered by US bank, it has the highest annual fee out of the cards offered by them. It also has a rewards program with plenty of partner airlines.

Annual Fees

This card comes with a massive $50 annual fee which is a major turn off, as other secured cards come with an annual fee in the mid $20’s or no annual fee at all.


This card has an APR of 16.24% which is on the higher side for secured cards (these cards usually have lower APR’s as the bank is holding a security deposit).

Rewards Program

This card does come with a rewards program in partnership with SKYPASS. Card holders get 5,000 bonus miles with their first purchase and another 1,000 bonus miles when they renew the card. Card holders also earn 1 mile per $1 spent. These miles can be used with all SKYPASS partners. The flexibility of this program (lots of different airlines available) makes it one of the better rewards programs available – but not nearly as good as the cards that offer cash back (e.g Navy Federal nRewards Secured Card & BankAmericard® Secured Credit Card)

Credit Reporting

This card reports to all three credit bureaus (Equifax, TransUnion & Experian), it also reports itself as a secured card.

Adding Funds

It’s possible to add funds to the security deposit in minimum increments of $100. By adding funds card holders can increase the credit limit of their secured credit card. When funds are added a soft credit pull is done (this does not affect an individuals credit score).


Like all secured credit cards offered by US bank this card can be upgraded to it’s unsecured equivalent (SKYPASS Visa Classic® Card). Card holders must call to get their card unsecured and will not be eligible until they’ve held their secured card for a minimum of 12 months.

Card holders usually need a FICO score of 680+ and a perfect payment history with their secured card to be eligible for the unsecured card.


Almost all applicants will be approved for this SKYPASS card, regardless of their credit history and score. The only exception is those with a bankruptcy on their card report, who will be automatically denied for all US bank secured cards.

Final Verdict

If this card didn’t have such a high annual fee, it would be one of the best on the market. Unfortunately an annual fee of $50 makes it a card that nobody should be applying for. There are much better cards on the market that have similar on better rewards programs with lower annual fees. If you’re looking for a better card, you should read our best secured cards article to find the one for you.

Still want to apply? Use the link found below.

Apply for the SKYPASS Visa® Secured Card

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Kev Liriano
Kev Liriano

I am not sure why this card gets so much hate over a $50.00 annual fee. For those of us who need to travel to Asia on a yearly basis, the points accrual on this card is a much better option than having no option at all when your credit is not ideal. And the fact I can transfer the miles to Delta flights (which can easily get you a Comfort + or first class domestic upgrade) I think are well worth it. This is especially valuable when you shop at a merchant that does not take american express which all Delta sky miles cards use (Costco for example).