Key2More Rewards Review

Who is the Key2More Rewards card for?

The Key2More Rewards card offers many ways for cardholders to earn reward points. Primarily, cardholders benefit from earning 5 points for every $1 spent on all eligible card purchases. This is an extremely generous offer since the purchase of a variety of goods will bring you 5x the benefits.

Additionally, if cardholders reach certain spending benchmarks monthly, they will receive even more reward points. If card users spend between $1,000 and $1,999 per month while using their credit card, they will earn 25% more points from these purchases. The next tier is if you spend over $2,000 a month, which would allow cardholders to earn 50% more bonus points from their purchases.

All of these rewards points come with no annual fee. This means that spending with this card will come at no extra cost, but will reward you with extra benefits. It is important to note, however, that there is a foreign transaction fee of 3%. While using this card will gain you points, it is advantageous to use a different card without a foreign transaction fee while staying in a different country.

This card is also great for anyone who wants to finance large purchases or transfer balances between accounts since there is an intro APR of 0% for both of these transactions for the first 6 billing cycles. This can save cardholders hundreds of dollars in interest alone, making it very important for cardholders to take advantage of this APR while it lasts.

Welcome Bonus

While there is no welcome bonus earned straight away, there are monthly bonus opportunities. As long as cardholders spend over $1,000 a month, they will earn extra points. These points range from 25% of the monthly expenditures to 50%, which is achieved if cardholders spend over $2,000 monthly.

Most credit cards offer one initial bonus to draw in potential cardholders, and then that is all they provide. This aspect of the card is more beneficial to big spenders because they will see monthly benefits for their expenditures, rather than just one initial bonus. Those who do not typically spend this much monthly may be better off with another card that offers bonuses at a lower benchmark spending range.

Intro APR

While rewards and bonuses are the main features of this card, the KeyBank also generously provides an intro APR of 0% for both purchases and balance transfers. Balance transfers must be made within the first 60 days following account opening to qualify for the introductory APR. This additional feature makes this a great card for those who need to finance large purchases or transfer balances between accounts, while still wanting to earn extra perks. 

After the first 6 billing cycles, the APR becomes 12.99% to 21.99% for both purchases and balance transfers, depending on the cardholders’ creditworthiness. This means that those with better credit scores will benefit by paying less interest.

Point Redemption

Since it is extremely easy to collect points, cardholders will rack up a lot of rewards in a short span of time, especially if they take advantage of the monthly bonuses. Therefore, KeyBank has provided an assortment of categories for which cardholders can redeem their points. These categories include:

• Travel
• Shopping
• Event tickets
• Gift cards
• Cash back

While there are many areas for which cardholders can redeem their points, if they do not like any of these choices, they can always opt for cash back.

Protective Features

All cardholders want to ensure the protection and safety of their card information and account. Fortunately, KeyBank provides plenty of protective features. Firstly, they have chip technology. This is beneficial for card owners because not only does it allow for quicker transactions, but it also protects the card information of users so that they do not have to enter their information while surrounded by others.

Another important safety feature is the Identity Theft Protection policy. By owning this card, your bank will scour the internet to determine if your card information is being used fraudulently. 

The KeyBank will also assist in mending your credit score by reaching out to credit rating agencies if anyone does use your card. With this card, you can even view your FICO score anytime without hurting your credit score via KeyBank online and mobile banking.

This card also offers a zero liability policy. You do not have to worry about your credit score being affected by fraudulent charges. You also will not have to be concerned about paying those fraudulent fees either. The bank will cover these charges for you, and you will benefit from having zero accountability.

Card users can also easily access their account balance, pay their fees on the go, and view other helpful features through their online and mobile accounts. This makes it effortless to stay on top of monthly payments because you can check on your account from anywhere at any time.

Additionally, cardholders are able to set up account alerts to be notified of any suspicious charges. If they suspect their card is being used by others, they can quickly freeze their account to prevent further transgressions.

Besides card protection, there is also a cell phone security feature as well. Your card provides $1,000 in coverage ($600 per claim, twice a year) if your card should get stolen or misplaced. This is extremely beneficial for any cardholders who are prone to losing things. All you have to do is pay your mobile phone bill, and the damages will be paid for.

The Key2More Rewards card also has a temporary lock security feature where you can easily use online or mobile banking to lock or unlock your credit card if your credit card is stolen or misplaced. This makes sure your card can’t be used, and it gives you time to find your card and potentially avoid having to cancel it and get a new one.

Finally, this card offers MasterRental coverage. When using your Key2More Rewards card to rent a vehicle, cardholders will have costs covered for damages such as theft or collision.

Additional Fees

As mentioned earlier, this card has a foreign transaction fee of 3%. It also has a balance transfer fee of 3% of $10, whichever is greater, along with an overdraft protection fee of $10. If you carry your balance and are charged interest, there is a minimum interest charge of $0.50, which may not be much but is still nice to know. It is also important to note that there is a late payment fee of up to $39, making it extremely important for cardholders to pay their bills on time to avoid this additional fee.

Credit Score Requirements

To maximize your chances of getting approved for the Key2More Rewards card, you should have good to excellent credit.

Conclusion

This card provides many beneficial features to the cardholder. Ultimately, we believe that this card is a solid choice for anyone looking to easily gain reward points, people who spend over $1,000 monthly, and anyone wanting to transfer their balances between accounts or finance large purchases.

This also is not the best travel card, since it requires a 3% foreign transaction fee. For people who travel often, we recommend pairing this card with a travel card in order to maximize benefits and rewards.

You can apply for Key2More Rewards Credit Card online here.