The Key Cashback® Credit Card is a straightforward cash rewards card with no annual fee and up to 2% unlimited cashback. Cardholders can earn 2% on all purchases if they have an active KeyBank checking account with at least five qualifying transactions each month. Otherwise, they still earn 1% on every purchase.
This card is ideal for those looking for simple rewards with flexible redemption. Users can apply online in minutes, and there’s also a 0% intro APR on balance transfers for the first 12 billing cycles if made within 60 days of opening the account.
Main features of Key Cashback® Credit Card
The Key Cashback® Credit Card is a Mastercard with no annual fee and unlimited cashback potential. It’s a basic rewards card but includes premium security and digital banking features. Depending on creditworthiness, the variable APR ranges from 21.24% to 28.24% for purchases and balance transfers.
Approval requirements
To apply, you’ll need a valid photo ID and your Social Security number. While KeyBank doesn’t specify a minimum income, applicants should have a steady income and good credit. A credit check through agencies like Experian, Equifax, or TransUnion is part of the approval process.
Benefits of Key Cashback® Credit Card
The card offers 2% cashback if you maintain a qualified checking account with five or more monthly transactions. Otherwise, you’ll still get 1% cashback on every purchase. Rewards are unlimited and never expire, and redemption is easy via statement credit or deposit to your KeyBank account.
Exclusive highlight
One standout feature is the access to your FICO® score directly through online or mobile banking. The card also includes Mastercard perks such as ID Theft Protection™, Zero Liability Protection, and rental car coverage, making it an excellent option for everyday use and travel.
Drawbacks and things to consider about the Key Cashback® Credit Card
While the no annual fee and cashback rewards are appealing, the highest reward rate requires additional KeyBank relationship requirements. If you don’t already bank with Key, you may not qualify for the full 2% without opening a checking account and meeting monthly activity thresholds.
Another point of attention is the relatively high regular APR, which can go up to 28.24% based on creditworthiness. Users who carry a balance may find more affordable options elsewhere, especially if they do not benefit from the balance transfer intro APR.
How to apply step-by-step
Applying for the Key Cashback® Credit Card is quick and easy. Visit KeyBank’s website and fill out the application form, which takes about five minutes. Provide your SSN, valid photo ID, and personal details. After submission, you’ll typically receive a decision within a few minutes to a few days, depending on your credit profile.
Who is the Key Cashback® Credit Card ideal for?
This card is perfect for KeyBank clients who already maintain an active checking account and want to maximize cashback without paying an annual fee. It’s also great for those who want a simple, no-fuss rewards card with online tools and security features included.
If you’re not a KeyBank client and don’t plan to become one, you’ll only earn 1% cashback. In that case, competitors like the Citi® Double Cash or Wells Fargo Active Cash® may offer more consistent rewards without extra requirements.