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Key Secured Credit Card

  • Regular Purchase APR   24.99% variable based on the Prime Rate
  • Annual Fee  None
  • Credit Needed  Poor , No Credit Required
  • Processing Network Mastercard

Best Benefits
  • No annual fee
  • This card reports your history to credit bureaus
  • Account is reviewed twice a year to determine if you're eligible for an unsecured credit card
  • Temporary lock feature allows you to freeze card activity if you misplace it
Rates & Fees
     Intro Purchase APR: N/A
     Regular Purchase APR: 24.99% variable based on the Prime Rate
     Intro Balance Transfer APR: N/A
     Balance Transfer APR: N/A
     Balance Transfer Transaction Fee: N/A
     Cash Advance APR: N/A
     Cash Advance Transaction Fee: N/A
     Penalty APR: N/A
     Annual Fee: None
     Foreign Transaction Fee: 3% of the amount of each transaction in U.S. dollars
     Late Payment Penalty Fee: Up to $39
     Return Payment Penalty Fee: N/A
     Over Limit Penalty Fee: N/A
     Minimum Deposit Required: $300
     Credit Needed: Poor , No Credit Required


At a Glance

Ideal for those building or rebuilding their credit, the Key Secured Credit Card℠ can set your financial reputation on the right path as long as you maintain smart spending habits.

The Gist

Having a secured card and making it work in your favor can be a challenge, but the payoff is worth it. Between staying within your deposit-backed credit limit and avoiding the painfully high interest rates, you’ll have to exercise discipline. If you do, though, you’ll benefit by having your responsible card use reported to the major credit bureaus, which ensures your credit score will rise. You’ll also have access to more appealing unsecured cards in the future.

With the Key Secured Credit Card℠, the required minimum deposit is $300. It’s no small sum, but it does give you modest spending power, especially if your financial profile is still young or you’ve just recently started earning a steady income. You’ll also save some money with this card by not having to pay an annual fee, which is a welcome benefit not found in many secured cards. You will be charged a late payment fee if you miss a due date or your minimum statement balance amount, though – in addition to finance charges – so you’ll want to be diligent in paying off your full statement balance each month.

As previously mentioned, KeyBank reports your activity to credit reporting agencies, which will look good for your credit score and your credit report. In addition, the issuer reviews your account twice a year. If you’ve done well for yourself, you may be considered for a KeyBank unsecured card, which opens a new set of doors for you.

Other noteworthy features of the Key Secured Credit Card℠ are contactless technology and temporary account locking. With the former, you can tap your card to make a purchase quickly; no need to reach into your wallet. With the latter, you can instantly freeze your card if it’s stolen or lost so you can prevent any fraudulent activity before there’s a chance for it to happen.

Apply for This Card if You:

  • Have little or no credit history
  • Have a damaged credit score that you want to rebuild
  • Have not had a credit card before
  • Want to graduate to unsecured and rewards credit cards
  • Don’t want to pay an annual fee

Editorial Disclosure — The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.

Published: September 6, 2019 2:55 pm

Advertiser Disclosure – BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.