The Key2More Rewards® Credit Card offers a range of features and benefits that make it an attractive option for those with good or better credit scores. Here’s a detailed review of the card’s key features and whether it’s worth considering:
Key Features
- Credit Score Requirement: This card is designed for individuals with good or better credit scores, typically 650 or higher.
- Annual Fee: The Key2More Rewards® Credit Card comes with no annual fee, making it a cost-effective choice.
- Introductory APR: One of the standout features of this card is the 0% APR on purchases and balance transfers for the first six billing cycles. This introductory period can be beneficial if you plan to make large purchases or want to consolidate existing credit card debt.
- Rewards Program: The card offers a rewards program where you can earn 5 points for every dollar spent on eligible purchases registered in the program. There is no limit to the number of points you can accumulate each month.
- Bonus Points: You can receive bonus points based on your total monthly spending. A 25% bonus is awarded if your monthly spend falls between $1,000 and $1,999, and a 50% bonus is granted for monthly spending of $2,000 or more.
- Redemption Options: Earned points can be redeemed for various rewards, including airline and event tickets, cash back, and more. This flexibility allows you to choose rewards that align with your preferences.
- Build Credit: Using this card responsibly and making on-time payments can help you build or improve your credit score over time.
- Free FICO® Score: Cardholders have access to their FICO® credit score for free. Monitoring your credit score can be valuable for tracking your financial progress.
- Fraud Protection: The card offers a disclaimer service for unidentified purchases, providing an extra layer of security.
Drawbacks
- Limited Eligible Purchases: Only registered products generate points in the rewards program. This limitation may affect the overall value of the rewards you can earn.
- No Welcome Bonus: Unlike some other credit cards, the Key2More Rewards® Credit Card does not offer a welcome bonus for new cardholders.
- Foreign Transaction Fee: If you use this card for international purchases, be aware that it comes with a 3% foreign transaction fee.
- Redemption Fees: There may be fees associated with redeeming your rewards program points, depending on the specific rewards you choose.
Credit Score Consideration
To increase your chances of approval and potentially secure a lower APR rate, having a good credit score is advisable. The card is typically designed for individuals with good or better credit.
Application Process
The application process for the Key2More Rewards® Credit Card can be completed entirely online. For more details on how to apply, refer to the provided post or visit the official KeyBank website.
In summary, the Key2More Rewards® Credit Card is a suitable option for individuals with good credit scores who want to earn rewards on their everyday spending. The 0% APR introductory period, lack of an annual fee, and flexible rewards program make it an appealing choice. However, it’s important to be aware of the limitations regarding eligible purchases and the foreign transaction fee when using the card for international spending. Ultimately, whether this card is right for you depends on your spending habits and financial goals.
