The Key Cashback credit card, offered by KeyBank, does not charge an annual fee and offers an alluring 2% cash back on every transaction. This ongoing flat rate is difficult to surpass and makes the card highly attractive. However, there are significant caveats associated with such a high rate: You will get it once you meet a particular set of requirements. If those requirements aren't satisfied, you'll get 1.5% cash back on your purchases instead. That's still a great rate, but it's not unusual. Let's start Key Cashback credit card review.

Earn Up to 2% Back

When cardholders bank directly with Keybank, they can earn up to 2% cash back on every transaction made with their Keybank card. To be eligible for 2% cash back, you need to have an active checking account with KeyBank that receives $1,000 or more in deposits each month and a savings or investing account with the bank that has a minimum daily balance of $1,000. Those who don't will still get a sizable cashback incentive of 1.5% for every transaction they make with their card, regardless of whether or not they enroll in the program.

Consolidating your banking can save you a significant amount of money over time, but Keybank is well aware that not all customers will bank with them, therefore they are making this offer generously. In addition, cardholders can earn a one-time bonus of one hundred dollars in cash back if they make a purchase equal to or more than $500 within the first sixty days of starting their account.

A Competitive APR Along with a Bonus Offer of 0% APR

Even though the annual percentage rate (APR) for purchases made with the Key Cashback Credit Card cash back is not inordinately high, this rate can still change depending on your creditworthiness and is variable based on the Prime Rate and the market; however, those with excellent credit can anticipate an interest rate in the neighborhood of 14%.

Even though the card charges a fee for transferring balances of either $10 or 4% of the amount transferred done during the first 60 days of having the card is 0% for the first 12 billing cycles. Following the conclusion of the introductory period, the variable continuing APR will take effect.

Other Card Features

When you use Key Cashback Credit Card from Keybank, you won't have to worry about paying an annual fee to cancel out the cash benefits you get since there isn't one. If you use your card overseas, where a small foreign transaction charge would be assessed, this disadvantage might be somewhat alleviated. You can redeem cash in the form of statement credit, or have your rewards directly deposited into KeyBank bank or savings account of your choosing.

Should You Consider Getting Key Cashback Credit Card?

Overall, Key Cashback Credit Card is an excellent choice for a person who currently has an account with Keybank or is looking to create a checking and/or savings accounts with the company in the near future. You need to have an active account to make the most of the benefits you earn with this card; moreover, even if you still need an active account, you may still earn some amazing rewards.

Eligibility For Card

Although you do not need to be a resident of Ohio to apply for a KeyBank credit card, applicants are restricted from certain locations due to the bank's headquarters in Cleveland. To apply for the card, you must be a resident of one of these 15 states: Alaska, Colorado, Idaho, Connecticut, Indiana, Vermont, Maine, Michigan, Massachusetts, New York, Oregon, Pennsylvania, Ohio, Utah, or Washington. The application may be submitted in person or online.

There Are A Variety Of Methods To Get Your Money Back In Cash

You may get your cash back directly deposited into a bank or savings account at KeyBank, as a statement credit on your card, or as a redemption against particular purchases made on your card. These are the choices available to you.

You'll Acquire Rental Car Insurance

When you travel, having this card with you might be useful since it comes with insurance for rental cars provided by Mastercard. To fully use this benefit, however, you must charge the whole transaction amount to the promotional card.