The Key2More Rewards® Credit Card from KeyBank stands out as a rewarding choice for those who make frequent purchases and value a flexible rewards program. This card offers 5 points per dollar spent on eligible purchases, with no monthly cap on earnings.

Additionally, cardholders can receive bonus points based on monthly spending thresholds: a 25% boost for spending between $1,000 and $1,999 and a 50% boost for $2,000 or more, making it an attractive option for heavy spenders. There’s no annual fee, and the introductory APR is 0% for six months on purchases and balance transfers, which reverts to a variable APR of 22.24% to 29.24% depending on creditworthiness.

Qualification requirements

To qualify for the Key2More Rewards® Credit Card, applicants typically need a good to excellent credit score, which generally means a score of 650 or higher. This credit requirement is in place to ensure that cardholders have a strong credit profile, helping them make the most of the card’s valuable rewards and benefits without being overly impacted by high Annual Percentage Rate (APR) charges.

Having a solid credit score enables cardholders to maximize the benefits associated with this card, from cashback rewards to exclusive perks, making it an attractive option for responsible users who regularly pay their balances on time.

#Benefits

The Key2More Rewards® Credit Card offers a versatile rewards program, with options for redeeming points across a variety of categories, including travel, gift cards, event tickets, and cash back. KeyBank also enables cardholders to check their FICO® score for free, providing insights into their financial health.

Security is enhanced with Mastercard ID Theft Protection™, zero liability protection, and a temporary lock feature to safeguard against unauthorized charges if the card is lost or misplaced. The card also supports contactless payments for added convenience. This combination of security, rewards flexibility, and introductory APR make it appealing for responsible spenders who enjoy robust rewards.

Pros

For those who prioritize a high rewards rate and cost-effective benefits, this card offers multiple advantages:

• No annual fee
• High point-earning potential: 5 points per dollar with spending bonuses based on monthly totals
• Flexible redemption options: Travel, gift cards, cashback, and more
• Security features: Including Mastercard ID Theft Protection™ and zero liability on unauthorized purchases
• 0% introductory APR for six months on purchases and balance transfers

Cons

Despite its perks, the Key2More Rewards® Credit Card does have some drawbacks:

• Limited rewards value: Points are worth only about 0.2 cents each, translating to a low redemption rate compared to other rewards cards
• Foreign transaction fee: 3% fee on international transactions
• Lack of a welcome bonus: Unlike many other cards, there’s no initial sign-up bonus
• Travel redemption limitations: Points must be redeemed through KeyBank’s platform, with possible fees and no transfer options to other loyalty programs

How to apply

Applying for the Key2More Rewards® Credit Card is a simple process, conveniently done online through the KeyBank website. Applicants are required to provide standard personal details, including income, employment status, and credit information, which KeyBank uses to assess their eligibility for the card.

This card is especially suitable for those who meet the bank’s credit score requirements and seek a rewards-based credit option. However, eligibility may also be geographically limited, as the card is primarily available to individuals residing near a KeyBank branch, allowing the bank to support local customers with personalized services and branch access.

Is the card worth it after all?

For consumers already banking with KeyBank and seeking a credit card that offers a rewards program aligned with their monthly spending, the Key2More Rewards® Credit Card can be an attractive choice. The card’s rewards structure is designed to benefit those who spend consistently and can meet specific monthly thresholds, maximizing their rewards potential.

However, the value of this card decreases for individuals who prefer flexibility in redeeming rewards, as its redemption options may be more limited than other cards. Additionally, the rewards conversion rate may not be as competitive for those looking to earn higher cash back or points per dollar spent.

This card is especially suited for heavy spenders who want to leverage their regular expenses into rewards. For occasional users, or those who frequently travel internationally, alternative credit cards may offer greater value by providing better rewards rates, lower fees for foreign transactions, and more versatile redemption options.

Conclusion

The Key2More Rewards® Credit Card is an appealing choice for KeyBank clients seeking a no-annual-fee credit card with a simple, easy-to-understand rewards structure. While it may lack high point values and offers limited flexibility for redeeming rewards, it shines in other areas, including robust security features, an introductory APR period, and monthly bonus rewards, which make it a competitive option for frequent and consistent users.

This card suits individuals who prioritize security benefits and affordability, without needing a high degree of redemption variety. For cardholders who don’t mind the constraints on how points can be redeemed, and who value an economical credit card option that offers solid safety features, the Key2More Rewards® Credit Card could be a valuable addition to their wallet, helping them earn rewards on everyday purchases while keeping costs low.