Key2More Rewards Credit Cardmember Agreement

Key2More Rewards Credit Cardmember Agreement, as filed by Keybank, carries a purchase APR of 22.24%–29.24%, no annual fee and a six-month 0% opening period. The purchase rate sits at roughly the 70th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Keybank filed this agreement for Key2More Rewards Credit Cardmember Agreement with the Consumer Financial Protection Bureau. The filing runs 20 pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

The promotional period

This agreement opens at 0% for six months, the only period in the document where carrying a balance is free.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

The go-to rate is 29.24%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $849 a year on $2,500.

Put the other way round, the six-month zero rate is worth roughly $424 on a $2,500 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

How the purchase rate compares

Rather than a single purchase rate, the document gives a band — 22.24% at the bottom, 29.24% at the top, 7 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 66th percentile at the bottom and the 70th at the top.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

The cost of carrying a balance

At the disclosed purchase APR, $4,000 revolving for a full year costs something like $1,358 in interest.

On a median-priced agreement from this index (21.99%) the same $4,000 would run about $983 a year, so this card costs in the region of $374 more annually for the identical balance.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Charges beyond interest

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

For cash advances the filing discloses a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 29.24%. The two halves of that fee cross at about $200: below it the flat $10 applies, above it the percentage does. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Balance transfers cost $10 or 4% of the amount transferred, whichever is greater up front and then accrue at 22.24%. On $2,000 that fee is about $80 before any interest is charged.

Spending abroad costs an extra 3% — about $90 on $3,000 of purchases, independent of interest.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

Default pricing

Late payments are capped at $40 under this filing, about the 72nd percentile of late fee maximums in the corpus.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

The $0.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Inside Keybank's filed lineup

12 separate Keybank filings appear in the corpus. Across that lineup purchase rates span 15.49% to 27.49%; this filing's 29.24% sits above 3 of the comparable ones.

2 of the issuer's other 3 disclosing filings are likewise fee-free.

What the filing does not tell you

The disclosure parsed here does not state penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Where the authority sits

This summary stands or falls on the linked PDF — 20 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

29.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The absence of an annual fee means the rate is the only thing that can make this card expensive.