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The Key2More Rewards Credit Card by KeyBank has an offer for 50,000 bonus points when you spend $500 within the first 60 days. While it might sound like like a lot, this welcome offer is just $100 when you redeem for statement credit. That said, it’s still a decent offer for a no-annual-fee card. The Chase Freedom card has a welcome bonus with comparable spending requirements. See our list for more welcome offers.
With the Key2More Rewards card, you earn 5x points on all purchases with up to a 50% bonus if you spend at least $2,000 in one calendar month. But there’s a catch. You must have a KeyBank checking account to qualify for both the welcome and the spend bonuses.
If you’re not already a customer with KeyBank, there are plenty of rewards cards on the market that can offer more value.
*Check out KeyBank bonuses for Checking & Savings accounts.
| Bonus Available | Get 50,000 bonus points when you spend at least $500 on qualifying card purchases within 60 days of account opening.* |
| Bonus Value* | $100 |
| Ongoing Rewards/Benefits | Earn 5 points for every $1 spent on all eligible card purchases. Receive a 25% points bonus when you spend at least $1,000 in a calendar month.* Enjoy another 25% points bonus (for a total of 50%) when you spend at least $2,000 in a calendar month.* |
| Foreign Transaction Fees? | 3% |
| Annual Fee | $0 |
*Bonus value is an estimated value calculated by MoneysMyLife and not the card issuer. Read our card review for more details.
View our latest valuations here.
*You must have a KeyBank checking account open and in good standing to qualify.
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PROS
- No annual fee
- Welcome bonus
- Spend bonuses
CONS
- Good-Excellent credit needed to qualify
- Low points value
- KeyBank relationship required for bonuses
- Foreign transaction fees
CHASE FREEDOM FLEX℠
The Chase Freedom Flex℠ credit card is going to earn you a $200 bonus after you spend $500 on purchases in the first 3 months from account opening. The welcome bonus comes in the form of 20,000 Ultimate Rewards points. This card has no annual fee.
This card earns 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (new categories each quarter). Travel purchased through Chase also earns 5%.
This card earns Ultimate Rewards (UR) points and is a popular option for a multi Chase card strategy. You can pool points together with consumer cards like the Chase Sapphire Preferred® Card and Chase Sapphire Reserve®. Or, with a business card like the Ink Business Preferred® Credit Card. The 20,000 UR points could be worth around $400 with this strategy, rather than the standard $200. Read more on this here.
Key2More Rewards Card 50,000 Bonus Points Offer
Take advantage of the Key2More Rewards card’s 50,000 bonus points offer, worth $100 when you redeem for statement credit. To qualify, you must hold a KeyBank checking account and charge at least $500 to your card within the first 60 days of opening your account.
Here are some ideas on meeting the spending requirement:
Earning Key2More Rewards Points
Earn an unlimited flat rate of five points for every $1 you spend on eligible credit card purchases. If you’re a KeyBank checking accountholder, you’ll also get a points boost by reaching certain spending thresholds:
| Monthly Spending | Points Bonus | Total Rewards Rate |
| $1,000+ | 25% | 6.25x |
| $2,000+ | Another 25% | 7.5x |
*Your points will expire four years from the date they were earned.
Redeeming Key2More Rewards Points
Like many other rewards cards, the value of your points depends on how you use them. When it comes time to redeem your Key2More Rewards points, you have a variety of options, including:
- Statement credits
- Travel
- Gift cards
- Merchandise
- Charitable donations
Key2More Rewards points have consistent value – $0.002 each – when you use them for statement credits. Other redemption options vary greatly and may be worth more or less than $0.002 per point.
Bottom Line
Although the Key2More Rewards card has huge earning potential, its points are not worth much. You’ll essentially be earning 1% of what you spent if you opt for cash back. Your return gets boosted to a decent rate – 1.5% – if you’re a KeyBank customer and you charge at least $2,000 a month to your card. But if you’re not a heavy spender, it’ll be easy for you to find a better deal elsewhere.
What’s The Competition?
Below are some of the top competitors to the Key2More Rewards credit card you should consider.
CAPITAL ONE® SAVORONE® CASH REWARDS CREDIT CARD
The Capital One® SavorOne® Cash Rewards Credit Card has a $200 bonus when you spend $500 on purchases within 3 months of account opening. This card has no annual fee. The annual-fee version of this card is the Capital One® Savor® Cash Rewards Credit Card.
This SavorOne card earns unlimited 3% cash back on dining and entertainment spending. Grocery store spending earns 2% cash back. All other purchases earn 1% cash back. There are no rotating categories to worry about and the cash back won’t expire while the account is open.
CAPITAL ONE® QUICKSILVER® CASH REWARDS CREDIT CARD
The Capital One® Quicksilver® Cash Rewards Credit Card will earn a $200 bonus when you spend $500 on purchases within the first 3 months. The bonus offer is comparable to its top competitors, but this card earns a respectable 1.5% cash back on every purchase with no limit on how much you can earn. There are no spending categories to keep up with and the cash back won’t expire while the account is open.
People like this card because of the cash back rate, the flexibility to redeem your cash back for any amount, and there’s no annual fee.
| OFFER LINK | OFFER | OUR REVIEW |
| Chase Business Complete Banking℠ | $300 Cash | Review |
| Chase Total Checking® | $225 Cash | Review |
| Chase Secure Banking℠ | $100 Cash | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience Checking℠ | $150 Cash | Review |
| HSBC Premier Checking | $450 Cash | Review |
| Axos Business Checking | $100 Cash | Review |
| Aspiration Checking | $150/$200 Cash | Review |
| Ally Invest | Up To $3,000 | Review |
| Betterment | Up To 1 Year Free | Review |
| BlockFi | Up To $250 BTC | Review |
| Voyager (code BH5F1A) | $25 In BTC | Review |
| TradeStation | $100 Bonus | Review |
| Coinbase | $10 In BTC | Review |
| Robinhood | Free Stock | Review |
| Motley Fool | Stock Advisor Discount | Review |
Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.