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Verdict: The Key Bank Select Rewards Platinum Credit Card allows you to earn cash back on all of your charges. It also comes with no annual fee. If your credit is good, your purchase interest rate will be low. However, there are some catches with this card, too. If your credit isn’t good, your interest rate will soar. And while you’ll earn cash back on all of your charges, there are other cards on the market that will allow you to earn dollars at a faster rate.
Overview: This Key Bank card may not particularly stand out in the crowded rewards field. But that doesn’t mean it isn’t a solid card. Depending on your credit score, in fact, this card can come with one of the lowest purchase interest rates in the industry.
How This Card Works: You’ll earn cash back with every purchase you made. After you earn enough of these cash-back points, you’ll be able to convert them into cash, merchandise, gift cards or travel rewards. If you elect to turn your points into cash, Key Bank will credit the dollars you earned to your credit-card account.
Travel and Shopping Benefits: With every dollar you charge with this card, on all purchases, you’ll earn 1 percent cash back. You’ll also earn 2,500 bonus cash-back points after you make your first purchase with the Key Bank Select Rewards Platinum card. You can redeem these bonus points for a $25 credit on your card statement. Other perks include protection against fraudulent purchases made with your card and purchase assurance on qualifying purchases.
Fees: If your credit score is high enough, you can earn a purchase interest rate as low as 9.99 percent with this card. That ranks among the lowest among available consumer credit cards. However, if your credit is weak, your interest rate will rise. Those with the lowest credit scores will be saddled with a purchase interest rate as high as 20.99 percent. For the first six billing cycles, you’ll have an interest rate of 0 percent on all balance transfers, another nice perk. Cash advances cost $10 or 4 percent of the advance amount, whichever figure comes out higher. Late-payment, returned-payment and over-the-limit fees can all hit $35. There is no annual fee with this card.
- No annual fee.
- If credit is strong, your purchase interest rate can be as low as 9.99 percent.
- You’ll earn cash back on all charges you make.
- If your credit is weak, your interest rate can hit as high as 20.99 percent.
- Other cards allow you to earn cash back at a faster rate.