Key Bank Platinum MasterCard Credit Card Review | CreditShout

Key Bank Platinum MasterCard Credit Card Review

By Dan Rafter / January 21, 2011

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Verdict: As a basic credit card, the Key Bank Platinum MasterCard doesn’t come with a lot of perks. There are no rewards programs or cash-back bonuses here. However, the card does come with a low purchase interest rate — and an introductory purchase rate offer of 0 percent — if you do have solid credit scores. And it doesn’t carry an annual fee, making it a solid entry in the category of standard credit cards.

Overview: The Key Bank Platinum MasterCard comes with some basic perks, most of them protecting you from fraudulent or unwanted purchases. But don’t expect much more: This is a credit card designed for consumers who aren’t looking for frills with their plastic.

How This Card Works: You can balance existing credit-card debt to this card and not have to pay any interest on it. But only for six billing cycles. That’s how long the card’s introductory balance-transfer offer lasts. After this period ends, the unpaid balance from your transfer will receive an interest rate of 9.99 percent to 20.99 percent, depending on your creditworthiness.

Travel and Shopping Benefits: The Key Bank Platinum MasterCard doesn’t come with rewards, miles or cash-back programs. It does, though, offer protection against fraudulent purchases made with your card. It also comes with purchase assurance on qualifying purchases.

Fees: The card comes with an introductory interest rate of 0 percent on both purchases and balance transfers for the first six billing cycles. After this period ends, your purchase, and balance-transfer, interest rate will hit anywhere from 9.99 percent to 20.99 percent depending on the strength of your credit scores. The card does not come with any annual fee. Cash advances cost either $10 or 4 percent of the advance amount, whichever amount is higher. Returned-payment, late-payment and over-the-limit fees can all hit $35.

Pros
No annual fee.
Low interest rate of 9.99 percent depending on your creditworthiness.
Introductory offer of 0 percent interest on purchases and balance transfers.

Cons
Few perks come with this card.
Interest rate can hit as high as 20.99 percent if your credit is weak.

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

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