Tired of sifting through a sea of credit card options, desperately seeking the perfect fit? Look no further! When it comes to choosing the perfect KeyBank credit card, there are a few important factors to consider. Keep an eye on those enticing rewards and cash back offers, as well as the all-important annual fees. But that’s not all! Don’t forget to explore intro APR offers, regular APRs, foreign transaction fees, and other cool perks that make your credit card experience even better.
In this comprehensive guide, discover the best KeyBank credit cards, curated to elevate your financial journey—and help you make an informed and confident choice.
1. Key Cashback® Credit Card
2. KeyBank Latitude® Credit Card
3. Key Secured Credit Card®
4. Key2More Rewards® Credit Card
Overview of the Best KeyBank Credit Cards
How to Choose from the Best KeyBank Credit Cards
Pros and Cons of the Best KeyBank Credit Cards
What to Watch Out For
Pro Tips
Recap
1. Key Cashback® Credit Card
The Key Cashback Credit Card is a great choice for its competitive rewards rate, offering up to 2% cash back on every purchase, allowing you to save significantly over time. With no annual fees and a 0% introductory APR on balance transfers, it provides valuable benefits that can enhance your financial journey and help you manage your expenses effectively.
Pros
- Offers an appealing 2% cash back on every purchase
- Provides a 0% introductory balance transfer APR for the first 12 billing cycles on transfers made within the first 60 days
- Includes rental car insurance through Mastercard for added peace of mind when traveling
- Allows redemption of cash back through direct deposit or as a statement credit on the card
Cons
- Requires specific conditions to earn the 2% cash back rate, such as maintaining a KeyBank checking account with at least $1,000 in deposits and a KeyBank savings or investment account with a minimum daily balance of $1,000
- Limits eligibility based on location; applicants must reside in one of the 15 states where KeyBank operates
- Has a balance transfer fee of $10 or 4% of the transfer amount, whichever is greater, after the introductory period ends.
- Consider the balance transfer APR, ranging from 22.24% to 29.24%, based on your creditworthiness and the Prime Rate
- Note the cash advance transaction fee, either $10 or 4% of each transaction, whichever is greater
- Keep in mind the foreign transaction fee, set at 3% of the transaction amount in U.S. dollars
- Avoid late payments to prevent a late payment penalty fee of up to $40
- Stay within your limit to avoid an over limit penalty fee of $10
- Enjoy unlimited 2% cash back rewards when you bank with KeyBank, making this cash rewards credit card a rewarding choice
- Qualify for at least 1% cash back even if you don’t meet KeyBank’s banking requirements for a particular month
- Access your FICO Score through KeyBank online and mobile banking, gaining insights into your credit health without impacting your score
- Experience secure and convenient transactions with contactless Tap and Go® technology
- Benefit from additional perks like ID Theft Protection™ and Zero Liability Protection6 provided by Mastercard®
2. KeyBank Latitude® Credit Card
If you desire a straightforward credit card with a competitive interest rate and a lengthy zero percent APR on purchases, consider the KeyBank Latitude® credit card for an attractive deal. However, be attentive to the card’s fine print, as it includes some elevated fees, such as a higher-than-average balance transfer fee and cash advance fee. Additionally, keep in mind that the card’s eligibility is limited to residents in one of 15 states with a nearby Key Bank branch.
Pros
- Offers a relatively low interest rate for cardholders with excellent credit
- Provides a long-term zero percent APR on purchases and balance transfers for 15 months
- Includes common credit card perks like price protection, extended warranty, and car rental insurance
- Offers Identity Theft Protection for added security.
Cons
- Carries high fees, including a higher-than-average balance transfer fee and cash advance fee
- Lacks additional rewards, making it suitable for those primarily seeking a low-interest card
- Charges a substantial foreign transaction fee
- Lacks premium perks compared to some competitors.
- Secure your card easily with the temporary lock security feature available in online or mobile banking, preventing unauthorized use and giving you time to locate your card without the need to cancel and reorder a new one.
- Pay no annual fee and no minimum interest charge, making it a cost-effective choice
- Utilize the 0% introductory APR on balance transfers for 15 months, but make sure to complete the transfers within the first 60 days from the account opening date
- Be aware that the regular purchase APR varies from 20.24% to 27.24%, depending on your creditworthiness and the Prime Rate
- Consider the balance transfer transaction fee, which is either $10 or 4% of the transfer amount, whichever is greater
- Keep in mind the 3% foreign transaction fee on each transaction made in U.S. dollars outside of the country.
- Avoid late payment penalties by making payments on time, but be aware that the late payment penalty fee can be up to $40.
3. Key Secured Credit Card®
If you’re looking to build or improve your credit score, the KeyBank Key Secured Credit Card is a great option. You need to provide a security deposit to open the card, which serves as collateral for your credit line. This can be helpful if you have limited or damaged credit histories. The card also offers benefits like ID theft protection and zero liability protection, and allows you to manage your credit online through KeyBank’s online banking features.
Pros
- Offers cost savings and low-maintenance card with no annual fee
- Provides added security for your transactions with Identity Theft Protection
- Expands approval opportunities, as it considers applicants with fair credit
- Improves your credit score by reporting to multiple credit bureaus
- Rebuilds credit history, as it is suitable for those with poor credit.
Cons
- Accepts a security deposit, which can be a barrier for some customers
- Charges 3% foreign transaction fee
- Offers no rewards on every purchase
- Slams 3% balance transfer fee, which can affect potential savings on transferred balances.
- Be aware of the 28.24% variable Regular Purchase APR based on the Prime Rate
- No annual fee
- Note the 3% foreign transaction fee applied to each transaction made in U.S. dollars outside the country
- Avoid late payment penalties by ensuring timely payments, but remember that the Late Payment Penalty Fee can be up to $40
- Secure your credit card by making a minimum deposit of $300.
4. Key2More Rewards® Credit Card
Boasts a higher points-per-dollar spent rate compared to most travel rewards cards, making it appealing for heavy spenders. However, be aware that the points’ actual value might be lower than expected. To fully benefit from this card, you need to spend at least $2,000 or more per month.
Pros
- Offers a high rewards rate for heavy spenders who can meet the monthly threshold
- Provides a spending bonus for those who spend $2,000 or more per month
- Offers a 0% introductory APR on purchases and balance transfers for the first 6 billing cycles
- Allows flexibility for travel with no blackout dates, enabling you to travel anytime.
Cons
- Misleads with high rewards rate, but points are worth less than average card rewards point, reducing the card’s value
- Requires heavy monthly spending ($2,000 or more) to fully benefit from rewards program
- Charges a 4% balance transfer fee if you transfer the balance within 60 days of opening the account
- Limits redemption options by not allowing point transfer to other loyalty programs.
- Earn 5 points for every $1 spent on eligible credit card purchases with no caps
- Receive a 25% monthly points bonus when spending between $1,000 to $1,999 per calendar month, and a 50% bonus when spending $2,000 or more per calendar month
- Benefit from an introductory 0% APR for the first 6 billing cycles on purchases and balance transfers, with a variable APR of 22.24% to 29.24% based on creditworthiness after the introductory period
- Enjoy the flexibility to redeem points for travel, shopping, event tickets, gift cards, cash back, and more
- No annual fee, making it a cost-effective option
- Opt-in to view your FICO Score anytime without impacting your credit score in KeyBank online and mobile banking
- Utilize the temporary lock security feature to easily lock and unlock a misplaced credit card, providing peace of mind and avoiding the need to cancel and reorder a new one.
Overview of the Best KeyBank Credit Cards
KeyBank has a range of Mastercard credit cards that come with exciting rewards and benefits, providing you with various options to choose from. Some of these cards include the Key2More Rewards Credit Card, Key Cashback Credit Card, and more. Enjoy high rewards rates, freedom from annual fees, and even introductory APR rates on both balance transfers and purchases. Take your time to compare the benefits and rewards of these Mastercard credit cards and pick the one that perfectly aligns with your needs and preferences.
How to Choose from the Best KeyBank Credit Cards
Choosing the best KeyBank credit card for your needs requires careful consideration of your spending habits, financial goals, and preferences. Here’s a step-by-step guide to help you make the right choice:
- Identify your priorities and needs
- Look for cards with benefits that align with your lifestyle and spending habits
- Consider a card with a high cashback or rewards rate for everyday purchases
- Look for cards that offer a 0% introductory APR rate if you’re looking to transfer a balance
- Compare the benefits and rewards of the cards
- Read the full terms and conditions, including any fees or restrictions
- Consider the availability and convenience of KeyBank’s credit cards
- Choose the card that best suits your needs.
Pros and Cons of the Best KeyBank Credit Cards
- Pros
- Offers high rewards rates, including cashback options
- Provides flexibility in redeeming rewards for different purchases, such as travel, merchandise, or statement credits
- Offers sign-up bonuses or introductory offers for new cardholders
- Provides access to exclusive perks and benefits, such as airport lounge access or concierge services.
- Cons
- Charges fees for late payments or missed deadlines, which can add up over time
- Incurs foreign transaction fees that can lower the overall value of rewards earnings for some cards
- Limits reward redemptions, such as minimum thresholds or expiration dates, which could be frustrating for some cardholders.
What to Watch Out For
- Compare different card options for rewards, fees, and rates to find the best fit for your needs.
- Avoid applying for multiple cards at once to avoid hurting your credit score.
- Monitor balances, due dates, and credit utilization to avoid late fees and penalties.
- Look for cards with low or no annual fees and foreign transaction fees to minimize costs.
- Check for restrictions on rewards redemption and utilize rewards wisely to maximize their value.
- Pay your bills in full and on time to avoid charges and negative effects on your credit score.
- Read the terms and conditions carefully to understand any fees, restrictions, or limitations associated with the card.
Pro Tips
- Evaluate your spending habits
- Consider introductory offers
- Check for annual fees
- Examine rewards redemption options
- Monitor interest rates
- Look for special perks
- Pay on time and in full
- Consider credit building cards
Recap
The best KeyBank credit card for you depends on your individual needs and preferences. If you want to earn rewards on your everyday purchases, consider the Key2More Rewards® credit card. For cashback rewards, the Key Cashback® credit card is a great option. And if you’re looking to build or improve your credit, the KeyBank Secured credit card is worth considering. Remember to review the features, benefits, and fees of each card to find the one that fits your financial goals best.
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