topic Re: Keybank Releasing New Credit Card in Credit Cards

Keybank Releasing New Credit Card

Anonymous — Wed, 05 Jun 2019 00:41:33 GMT

Hello all,

Just wanted to share with you guys a new credit card that is being released by Keybank on June 28th for the public. Keybank is releasing a new rewards card on June 28th that is similar to the QuickSilver offered by CapitalOne. Only difference is that your cashback is detemined off of your relationship with Keybank.

The card will be offering unlimited 1.5% cashback on all purchases. Now, if you have a full relationship with Keybank and meet these two requirements, you can earn an unlimited 2% cashback on all purchases. You must have a checking account with Key that has at least $1,000 in deposits a month. AND you must maintain a minimum daily balance of $1,000 in either a savings or investment account.

The card will have a weak $100 bonus when you spend $500 within 60 days of opening. Oh, and 12 months 0% APR for balance transfers.

That's all.

Re: Keybank Releasing New Credit Card

AverageJoesCredit — Wed, 05 Jun 2019 02:25:45 GMT

Seems steeper than the Penfed Powercash. I would argue getting $100 back for only $500 is pretty nice but then again, im no bonus chaser so probably seems small to non average folk

Re: Keybank Releasing New Credit Card

pinkandgrey — Wed, 05 Jun 2019 02:34:12 GMT

Not a bad way to encourage existing customers to try new products. However, I’ll just stick with my Citi DC, which has no stipulations.

Re: Keybank Releasing New Credit Card

Anonymous — Wed, 05 Jun 2019 02:35:38 GMT

They do have an amazing employee offer for the card. Get $300 back when you spend $500 in the first 60 days. Originally wasn't going to apply for it right away, but once they released the information on the employee offer... I might app for it on the 10th (Release date for employees).

Re: Keybank Releasing New Credit Card

MyDataMyChoice — Wed, 05 Jun 2019 02:35:42 GMT

If you happen to Bank with Key Bank and you LIKE keybank.... sounds great. I don't think this card will get the myfico effect for 1.5% cash back... MAYBE 2%... you can get that with PayPal / Citi / SDFCU / Penfed, etc...

Re: Keybank Releasing New Credit Card

Anonymous — Wed, 05 Jun 2019 03:16:27 GMT

It's always nice to know when a new card is coming. Not very exciting though.

Re: Keybank Releasing New Credit Card

AverageJoesCredit — Wed, 05 Jun 2019 11:46:00 GMT

Is Keybank regional or nationwide?

Re: Keybank Releasing New Credit Card

Anonymous — Wed, 05 Jun 2019 11:49:29 GMT

Keybank is regional. I was very excited when i first found out they had a new card in the making, but very disappointed when the info was released. They could of done better.

Re: Keybank Releasing New Credit Card

Save-n-Invest — Wed, 05 Jun 2019 15:02:38 GMT

Thanks for the info. Key is my primary bank and I meet the criteria. I may look into it. The bonus is not weak IMO. Key will pay the bonus if they say they will.

Re: Keybank Releasing New Credit Card

CreditMagic7 — Wed, 05 Jun 2019 19:59:50 GMT

Long time forum member 12njoy will be thrilled to find this out.

They have (4) (yes you see that right) KeyBank credit cards already that are still growing and posted in the approvals forum as much a couple weeks ago.

I'm out of footprint so no try from this end

Re: Keybank Releasing New Credit Card

MakingProgress — Wed, 05 Jun 2019 20:17:25 GMT

Not sure how much new business it will draw for them. The requirements for the 2% makes it seem that they want to be your main bank not an auxiliary account. So for most it is a 1.5% card, and that is nothing exciting.

If they want me to make them my main bank and meet those requirements it is going to take more than 2%. Personally Citi DC is my go to 2% card, I like that it that they encourage you to pay it off so that you get your 2%. It would take either 3% on everything or a 5% category that I have a lot spend in that I can't get anywhere else to entice me to meet the requirements.

Re: Keybank Releasing New Credit Card

CreditMagic7 — Wed, 05 Jun 2019 21:51:21 GMT

@MakingProgress wrote:
Not sure how much new business it will draw for them. The requirements for the 2% makes it seem that they want to be your main bank not an auxiliary account. So for most it is a 1.5% card, and that is nothing exciting.

If they want me to make them my main bank and meet those requirements it is going to take more than 2%. Personally Citi DC is my go to 2% card, I like that it that they encourage you to pay it off so that you get your 2%. It would take either 3% on everything or a 5% category that I have a lot spend in that I can't get anywhere else to entice me to meet the requirements.

Agree-Citicards Double Cash beats this hands down with ease.

It is however a regional bank not mainstream so those tend to piddle 1.5% as some incentive. Plus if they wanted to draw me to them as a main bank they don't hold a candle to my Huntington Bank which is a powerhouse in comparison.

Re: Keybank Releasing New Credit Card

Anonymous — Thu, 06 Jun 2019 14:17:12 GMT

The problem with Key is that they are a very traditional bank. Meaning they charge a ton of fees, including maintenance fees and they pay almost 0% interest. So a full banking relationship isn’t really worth the extra half a percent on the CC.

Re: Keybank Releasing New Credit Card

Save-n-Invest — Thu, 06 Jun 2019 15:28:09 GMT

Key is not chargin me fees. I once paid a stop payment fee on a check. With that exception I don't remember anything else. Long relationship with Key. Excellent service, no annoying endless phone tree/robots that hang up on you. Humans talk to me and resolve the very infrequent issues quickly. Services in the branch are excellent.

I have a relationship with Huntington also. I never intentionally initiated a Hntington relationship. I was foul hooked by them three times in mergers. Huntington has made gigantic mistakes and acted as if that is normal. My favorite was after a spousal loss Huntington converted a POD account to joint that would have made all funds probate items if I had not caught it. Branch manager was huffy about making the correction as she had to research records from the previous institution.

The third time I was aquired by Huntington I stayed because they honred the free checking from the prior bank. I keep it as a low balance account just in case there is another whoopsie.

Re: Keybank Releasing New Credit Card

Save-n-Invest — Sun, 09 Jun 2019 18:40:53 GMT

@dcole7299, do you know it Key will PC an existing card to the new one? I have the red card. I think it's Key2More or something like that.

Thanks!

Keybank cash back now available

Anonymous — Mon, 24 Jun 2019 21:42:31 GMT

https://www.key.com/personal/credit-cards/key-cashback-credit-card.jsp