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Verdict: With the Key Bank MasterCard Platinum Business Credit Card, you can earn cash back at two different paces, depending upon where you use your card. You can also take advantage of an introductory interest rate of 0 percent on purchases and balance transfers. And because this card comes with no annual fee, it ranks as a strong contender in the crowded business card field.
Overview: This card comes with industry-standard fees and a flexible rewards cash back program. If your credit scores are weak, though, you might find yourself saddled with a high purchase interest rate once the introductory period ends.
How This Card Works: You’ll earn more cash back when you make charges at gas stations, restaurants and telecom businesses. You can also earn points for brand-name merchandise, gift cards and other rewards.
Travel and Shopping Benefits: You’ll earn 1 percent cash back on the majority of the charges you make with the Key Bank MasterCard Platinum Business card. But you’ll earn double the rewards when you make charges at gas stations, restaurants and telecom businesses. You’ll also receive 2,500 bonus points after you make your first purchase with this card. You can then redeem these points for a statement credit of $25.
Fees: Your purchase interest rate will be based on your creditworthiness. If you have high credit scores, your rate can be as low as 9.99 percent. If your credit score is low, your interest rate can soar to 20.99 percent. You’ll never have to pay an annual fee with this card, though, no matter how low your credit score might be. The card comes with an introductory interest rate of 0 percent on both new purchases and balance transfers for the first six months after you activate your account. Cash advances cost either $10 or 4 percent of the advance amount, whichever amount is higher. The late-payment fee can run as high as $39, depending on your card’s balance. The returned-payment fee is $35, while the over-the-limit fee is $39.
- Multi-tiered rewards program.
- No annual fee.
- Reasonable purchase interest rates depending on creditworthiness.
- Interest rate can be higher than 20 percent for cardholders with bad credit.
- Most purchases won’t earn double rewards points.