KeyBank Platinum Mastercard Credit Card

KeyBank Platinum Mastercard is designed for people with fair to good credit who want a no annual fee credit card with low rates but still want to earn reward points on their purchases. The KeyBank Platinum Mastercard also gives new cardholders a 12-month introductory rate of 0% APR, which makes this card a good fit for people who carry a balance on a credit card with high rates or who are planning to make large purchases in installments and don't want to pay interest on them.

- KeyBank Platinum Mastercard's rates range from 10.99% APR to 20.99% APR depending on the credit history of cardholders. There is a 12-month 0% APR introductory rate on new purchases and balance transfers made within the first two months of opening the account. Notice there is a balance transfer fee to consider and that being late on a single payment may cause you to lose your 0% APR intro rate. Cash advances have a 23.99% APR but there is no penalty rate for making late payments.

- The KeyBank Platinum Mastercard doesn't have an annual fee. However, it does have a 3% fee on foreign transactions and a 4% fee ($10 minimum) on balance transfers and cash advances. Late payments incur a $35 fee but there is no penalty fee on returned payments.

KeyBank Platinum Mastercard cardholders earn 1 KeyBank Relationship Rewards point for every $1 they spend with the card. This is the same program KeyBank debit cardholders can enter, but credit card members have no caps on how much they can earn with their purchases. There are no bonus categories and points can only be redeemed for merchandise or cash back. The redemption rate on cash back is very low: it takes 50,000 points to earn a $100 gift card.

The KeyBank Platinum Mastercard doesn't have a signup bonus at this time.

The KeyBank Platinum Mastercard doesn't have much in the way of rewards and perks. However, it does provide zero liability fraud protection and price protection on your purchases. This means that if a product you purchase drops in price within 60 days of buying it, you can claim the difference. Of course, there are restrictions. The service does not apply to vehicles, auto parts, jewelry, living things or travel tickets and you have to provide receipts and proof of the price change.

The KeyBank Platinum Mastercard is a good option for people who don't have great credit but still want a credit card that offers decent rates and some kind of rewards program. Granted, the rewards program has low reward rates and redemption options are limited, but it doesn't have an annual fee and its penalty fees are low compared to most credit cards. This is a good deal for people looking to build their credit while still receiving some rewards on their purchases, particularly for people who already have a bank account with KeyBank, as they can consolidate the reward points they earn through the checking and savings account.