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KeyBank Business Rewards Mastercard® Credit Card

KeyBank Business Rewards Mastercard® Credit Card

Earn 100,000 Bonus Points

KeyBank Business Rewards Mastercard® Credit Card
  • Regular Purchase APR 13.49% to 23.49% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 13.49% to 23.49% 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
  • Intro Purchase APR 0% for 6 months from account opening date
  • Processing Network Mastercard
Best Benefits
  • Earn 10 points per $1 in combined purchases on gas, restaurants, travel, and telecommunications
  • Earn 5 points per $1 in other eligible purchases
  • Earn 100,000 bonus points when you spend $1,000 within the first 60 days from opening an account
  • Introductory 0% APR for 6 months on purchases and balance transfers
  • No annual fee
Rates & Fees
  • Intro Purchase APR: 0% for 6 months from account opening date
  • Regular Purchase APR: 13.49% to 23.49% 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: 13.49% to 23.49% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 25.49% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 4% (3% on convenience check cash advances) of the amount of each cash advance, whichever is greater
  • Penalty APR: 26.85% + Prime Rate (maximum of 29.99%)
  • 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

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At a Glance

A step above a traditional business credit card, the KeyBank Business Rewards Mastercard is a smart choice for proprietors who need more purchasing power and also want to get rewarded as they cover costs.

Ideal for Those Who:

  • Own or operate a business
  • Want a credit card that gives back as you use it
  • Want a points-based rewards program with an appealing signup bonus
  • Don’t want to pay an annual fee
  • Bank with KeyBank already
  • Can take advantage of an introductory 0% APR offer for either purchases or balance transfers

KeyBank Business Rewards Mastercard® Credit Card Review

The KeyBank Business Rewards Mastercard is a more robust version of KeyBank’s Business Mastercard®, boosted by a rewards program that earns points on practically every purchase. With this card you earn 5 points per $1 spent on all eligible purchases (cash advances, balance transfers, and similar transactions are considered ineligible). However, certain shopping categories are worth double. When you make purchases on gas, travel, telecommunications, and at restaurants, you’ll earn 10 points per $1. Since these are common expenses for almost every company, you’re likely to benefit from the heightened earning rate. In addition, new cardholders are offered a signup bonus of 100,000 points if they spend at least $1,000 within the first 60 days of having an account.

However, while those rates look significantly higher than what competing rewards programs have in place, the true comparison should be made after determining how much those points are worth. For example, if you’re awarded this card’s signup bonus of 100,000 points, you’ll be able to redeem them for $200. After doing the math, that would put the value of a single point at $0.002. Many other card issuers value their rewards points at around $0.1 apiece, meaning you’d need a much higher points tally with KeyBank to reap the same amount of rewards.

Points are not the only reason why you might consider the KeyBank Business Rewards Mastercard®, though. Beside the signup bonus, new customers who open an account are also granted an introductory 6-month grace period at 0% APR. This offer is good for both purchases and balance transfers, thus giving you multiple opportunities to save money down the road. You could move a balance on which you’re paying a higher APR and erase it at no extra cost, or you might get through a costly business expense that will take a few months to pay off and will require you to carry a balance.

Should You Apply for the KeyBank Business Rewards Mastercard® Credit Card?

While it’s not the most enticing horse in the business credit card stable, the KeyBank Business Rewards Mastercard® can give you the necessary financial boost to take care of overhead or advance your company’s goals forward. Plus, the card has no annual fee, which gives it a leg up over similar cards that offer rewards programs.