The Key Cashback® credit card is a versatile and rewarding option for anyone looking to maximize their everyday spending. With the ability to earn up to 2% unlimited cashback on all purchases and no annual fee, this card is designed to offer consistent value without the hassle of tracking spending categories.

Whether you’re making routine purchases or planning larger expenses, the Key Cashback® credit card ensures that you earn rewards with every swipe. In addition to its straightforward rewards program, the card offers various features that enhance your overall financial management.

From a 0% introductory APR on balance transfers to robust security features provided by Mastercard, the Key Cashback® credit card is a reliable and secure choice for both everyday use and more significant financial planning. Let’s dive into the details to see how this card can fit into your financial life.

Key information about the Key Cashback® credit card

The Key Cashback® credit card is a no-annual-fee card that offers up to 2% cashback on every purchase when you meet certain requirements. To earn the full 2%, you need to have an active KeyBank checking account and perform at least five qualifying transactions each month. If you don’t meet these criteria, you’ll still earn 1% cashback on all your purchases, ensuring that every dollar you spend returns some value.

How does the annual fee work?

One of the significant advantages of the Key Cashback® credit card is that it does not have an annual fee. This means you can enjoy all the benefits and cashback rewards without worrying about an ongoing cost to keep the card active. The absence of an annual fee makes this card particularly attractive for budget-conscious consumers who want to earn rewards without any additional financial burden.

How is the credit limit determined?

The credit limit for the Key Cashback® credit card is determined by KeyBank based on your creditworthiness, which includes factors such as your credit score, income, and overall financial history. During the application process, KeyBank reviews your credit report and financial information to set a credit limit that aligns with your ability to manage debt responsibly.

Credit card benefits 

• Up to 2% unlimited cashback: Earn 2% cashback on all purchases when you have an active KeyBank checking account and meet the transaction requirements, or 1% cashback if you don’t meet the criteria.
• No annual fee: Enjoy all the benefits of the card without any annual cost, making it a cost-effective option for budget-conscious users.
• 0% introductory APR on balance transfers: Take advantage of a 0% APR for 12 billing cycles on balance transfers made within 60 days of account opening, helping you manage debt more effectively.
• Easy cashback redemption: Redeem your cashback as a statement credit or deposit it directly into your KeyBank checking or savings account.7
• Access to your FICO® Score: Keep track of your credit health by opting to view your FICO® Score through KeyBank’s online and mobile banking.
• Mastercard security features: Benefit from Mastercard’s Zero Liability Protection and ID Theft Protection™, ensuring that your transactions are secure and that you’re protected against fraudulent charges.

Up to 2% unlimited cashback

The most significant advantage of the Key Cashback® credit card is its ability to earn up to 2% unlimited cashback on every purchase. This reward structure is simple and straightforward, with no need to track spending categories or worry about limits.

As long as you maintain an active KeyBank checking account and complete the required monthly transactions, you’ll consistently earn 2% cashback on everything you buy. Even if you don’t meet these requirements, the 1% cashback ensures that you’re always earning something on your purchases.

Disadvantages

• High regular APR: After the introductory period, the APR can range from 22.24% to 29.24%, which can be costly if you carry a balance.
• Balance transfer fee: The card charges a fee of $10 or 4% of each balance transfer, whichever is greater, which can add up if you’re transferring large amounts.
• Foreign transaction fee: The card imposes a 3% fee on foreign transactions, which might be a drawback for frequent travelers.

High regular APR

The primary disadvantage of the Key Cashback® credit card is its high regular APR, which ranges from 22.24% to 29.24% depending on your creditworthiness. This can be a significant cost if you carry a balance from month to month. While the 0% introductory APR on balance transfers offers some initial relief, it’s important to pay off your balance before the regular APR kicks in to avoid substantial interest charges.

Who can apply for this card?

To apply for the Key Cashback® credit card, you must meet certain eligibility requirements:

• KeyBank account: While not required to apply, having an active KeyBank checking account is necessary to earn the full 2% cashback.
• Age: Applicants must be at least 18 years old.
• Residency: The card is available to U.S. residents with a valid Social Security number or Tax Identification Number.
• Creditworthiness: You must meet the credit criteria established by KeyBank, which typically requires a good to excellent credit score.

How to apply for the Key Cashback® credit card

Applying online

Applying for the Key Cashback® credit card is a simple and efficient process that can be completed online in just a few minutes. To begin, visit the official KeyBank website and navigate to the credit card section, where you will find the Key Cashback® credit card listed among other options.

Click on the card to access the application page, which will guide you through the process. You’ll be asked to provide personal details such as your name, address, Social Security number, and income information. It’s important to have a valid form of primary identification ready, such as a driver’s license or passport, to complete the application.

Once you’ve filled out the required information, take a moment to carefully review your application to ensure all details are accurate. Any errors could delay the approval process or impact your eligibility. After confirming that everything is correct, submit the application online.

KeyBank will then review your submission, including a credit check to assess your creditworthiness. If approved, you will receive your Key Cashback® credit card in the mail within a few business days. Upon receiving your card, you can activate it and begin enjoying the benefits and rewards that come with it, such as earning cashback on every purchase.

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