| Last updated on October 27th, 2023
KeyBank Business Mastercard® Credit Card
KeyBank Business Mastercard® Credit Card
- 16.24% to 26.24% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 16.24% to 26.24% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 0% for 6 months from account opening date Intro Purchase APR
At a Glance
An unassuming business credit card, the KeyBank Business Mastercard is a simple solution for customers looking to fund their companies’ expenses without the promise of additional perks.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 0% introductory APR for 6 months on purchases and balance transfers
- No annual fee
- Generous credit lines offered
- Lost or stolen reporting available 24/7
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 16.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months on transfers made within 60 days from account opening date
- Balance Transfer APR: 16.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transfer, whichever is greater
- Penalty APR: Up to 29.99% variable based on the Prime Rate
- Foreign Transaction Fee: 3% of the amount of each transaction in U.S. dollars
- Late Payment Penalty Fee: Up to $39
- Over Limit Penalty Fee: $39 per cycle
- Own or operate a business
- Want a business credit card without an annual fee
- Have a large upcoming expense that they can benefit from paying off over time with 0% interest
KeyBank Business Mastercard® Credit Card Review
If you’re simply looking for a traditional unsecured credit card to provide your small business with additional purchasing power, the KeyBank Business Mastercard will give you exactly that. The card’s primary highlight is an introductory 0% APR offer. When you open an account, you can take advantage of six interest-free months on purchases and balance transfers.
In the case of purchases, you can plan accordingly and cover a big expense after you get the card, thereby carrying a balance without the burden of interest charges. On the other hand, if you have existing balances on other cards with higher interest rates, you’ll save money down the road after you migrate that debt and continue to pay it off at a 0% introductory APR.
Once the intro APR ends, the Business Mastercard features an exceptionally competitive regular APR on both purchases and balance transfers. That rate, which hovers around the 11% mark for companies with an excellent credit score is extremely competitive.
Other Card Features
Other card features with the KeyBank Business Mastercard include:
- Mastercard ID theft protection
- Cybersecurity protection and lock
- Car rental insurance
- Mastercard Global Emergency Service coverage
- Small business discounts through QuickBooks, TurboTax, and more.
Should You Apply for the KeyBank Business Mastercard® Credit Card?
Don’t look to the KeyBank Business Mastercard for much else in the way of perks, however. The low end of the card’s regular interest rate sits at around 11%, which is fairly low. Assuming your credit’s good enough to get approved at that APR, you’ll still end up saving money in the long run if you conduct a balance transfer. If points, miles, or cash back are of interest to you, you’ll have to consider other business credit card options.
Nevertheless, the KeyBank Business Mastercard can be a powerful tool if you need to pay for recurring expenses or if you need to fund special projects to propel your enterprise forward. Plus, the Keybank Business Mastercard has no annual fee, so the convenience won’t cost you extra. If you want a similar rate and rewards, consider the KeyBank Business Rewards Card, which earns up to two rewards points on eligible purchases.
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