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Keybank Releasing New Credit Card

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Senior Contributor

Re: Keybank Releasing New Credit Card

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. 


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Message 11 of 16
Super Contributor

Re: Keybank Releasing New Credit Card


@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.

Message 12 of 16
Valued Contributor

Re: Keybank Releasing New Credit Card

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.

Message 13 of 16
Regular Contributor

Re: Keybank Releasing New Credit Card

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.

Message 14 of 16
Regular Contributor

Re: Keybank Releasing New Credit Card

@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!

Message 15 of 16
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