Key Cashback Credit Card
Earn Up to 2% Cash Back on All Purchases
- Regular Purchase APR 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.49% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Good , Fair
- Processing Network Mastercard
- Earn 1.5% cash back on every purchase, and 2% cash back when you bank and save with Key
- Earn a $100 cash back bonus when you spend $500 or more in the first 60 days of opening your account
- No annual fee
- Enjoy a balance transfer APR of 0% for the first twelve months as an introductory offer
- Regular Purchase APR: 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months on transfers made within 60 days from account opening date
- Balance Transfer APR: 15.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transaction, whichever is greater
- Cash Advance APR: 25.49% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each transaction, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars. Transactions originating in Canada are excluded from this fee
- Late Payment Penalty Fee: Up to $39
- Over Limit Penalty Fee: $10 Overdraft Protection Fee
At a Glance
For anyone who wants a no-frills, easy-to-use cash back credit card, the Key Cashback Credit Card from Keybank is likely the perfect fit. When you bank with Keybank, you’ll save 2% on all purchases, and you can earn a special one-time $100 introductory bonus after you spend $500 in purchases within the first 60 days.
Ideal for Those Who:
- Already bank with Keybank
- Want a card with no annual fees and 0% introductory APR
- Will maximize your rewards potential by using your card often to earn up to 2% cash back
- Will spend $500 in the first 60 days of opening your account to qualify for the $100 bonus
Key Cashback Credit Card Review
Cash back credit cards are very popular, and there are a lot of options to choose from – how do you decide which is best? The Key Cashback Credit Card is designed with you in mind; with a great introductory bonus offer, low APR, and no annual fees, you’ll start saving – even when you spend. Cardholders can earn up to 2% cash back with every purchase, when they bank directly with Keybank. To qualify for 2% cash back, you must have an active KeyBank checking account with $1,000 or more in deposits each month, and a savings or investment account with a minimum daily balance of $1,000 with the bank. Those who don’t will still see a hefty cashback bonus of 1.5% for every purchase they make with their card. Consolidating your banking will save you plenty in the long run, but Keybank knows that not everyone will bank with them, so this is a generous offer. Additionally, cardholders can qualify for a special bonus of $100 cash back, by spending $500 or more within the first 60 days of opening their account.
While the Key Cashback Credit Card doesn’t have an inordinately high APR for purchases, it still can range between 15.99% up to 24.99%, depending on your creditworthiness and variable based on the Prime Rate and the market. There is an introductory balance transfer APR offer, though: for the first 12 billing cycles, you’ll be subject to a 0% APR on balance transfers that are completed within the first sixty days of account opening. After that, the balance transfer APR is 14.99% to 25.99%. This is a competitive APR by most industry standards.
Another way Keybank helps you save with the Key Cashback Credit Card: there is no annual fee to offset the cash rewards you earn! This may be slightly mitigated if you use your card abroad, as there is a nominal foreign transaction fee. Redeem your cash back as a statement credit, pay yourself back for the purchases you’ve made, or direct deposit your rewards into a KeyBank checking or savings account – the choice is yours.
Should You Apply for the Key Cashback Credit Card?
All in all, the Key Cashback Credit Card is a great fit for someone who already banks with Keyban, or who is planning to open a checking and/or savings account with them. Granted, in order to maximize the rewards you earn with this card, you need to have an open account – but there are still great rewards available even if you don’t.