If you’re looking for a credit card that offers flexibility in managing your expenses while making debt management more feasible, the KeyBank Latitude Credit Card might be just what you need. With its low introductory rates, security features, and easy-to-use online management tools, this card gives you the breathing space you’ve been looking for.
Whether you’re consolidating debt or planning for a large purchase, the KeyBank Latitude Credit Card allows you to focus on your financial well-being without unnecessary stress. Let’s dive into what makes this card stand out in a crowded market.
Main features of the KeyBank Latitude Credit Card
Issued by KeyBank, a long-standing financial institution that has earned a reputation for customer-focused services, the KeyBank Latitude Credit Card is aimed at individuals who want greater control over their finances. Whether you’re trying to pay off existing debt or looking for a card with flexible repayment options, this card offers a balance between affordability and security.
KeyBank’s reputation for catering to a diverse clientele makes it a great option for those seeking practical solutions to financial challenges. With easy access to online and mobile banking, and a variety of card management tools, the card allows you to stay on top of your spending and payments in a way that fits seamlessly into your life.
Understanding the annual fee
Let’s clear up one important thing right away—there’s no annual fee with the KeyBank Latitude Credit Card. That’s right! You get all the features and benefits without paying an annual membership cost. Many cards in the market come with hefty fees that can diminish the overall value of their offerings.
Deciphering credit limits
When it comes to your credit limit, KeyBank takes a comprehensive approach. They assess various factors to determine the appropriate limit for your card, ensuring that it aligns with your financial profile. The process includes evaluating your credit score, income level, and overall debt-to-income ratio. What sets KeyBank apart is their flexibility in offering a range of credit limits to accommodate different financial situations.
Whether you’re someone with a long-established credit history or just starting to build your credit, KeyBank works with you to find the right balance. They also provide opportunities for credit limit adjustments based on your account performance over time, so responsible use could potentially lead to increased spending power.
Advantages of the KeyBank Latitude Credit Card
- Introductory APR: For the first 15 billing cycles, you enjoy a 0% APR on both purchases and balance transfers. This gives you the flexibility to pay off debt without incurring extra costs right from the start.
- Low Ongoing APR: After the intro period, the card offers a competitive APR based on your creditworthiness, which helps keep your debt manageable in the long term.
- FICO® Score Monitoring: Stay in the loop with your credit health by opting in to view your FICO® Score directly from the KeyBank app, without any impact on your credit.
Standout advantage
Perhaps the most significant advantage of the KeyBank Latitude Credit Card is its 0% introductory APR on balance transfers and purchases for 15 billing cycles. If you’re someone looking to consolidate existing credit card debt, this feature can make a world of difference.
Addressing potential drawbacks
- Balance Transfer Fee: While the 0% APR on balance transfers is a major perk, there is a fee of 4% or $10 per transfer, whichever is greater. This can add up if you’re transferring large balances.
- Foreign Transaction Fee: The card charges a 3% fee on foreign transactions, which could make it less appealing for frequent travelers.
- Late Payment Fees: The penalty for late payments can go up to $40, which might sting if you’re not careful with your due dates.
Standout disadvantage
The most significant downside of the KeyBank Latitude Credit Card is its foreign transaction fee. If you’re someone who frequently travels internationally or makes purchases from foreign vendors, this 3% charge can quickly become an inconvenience.
Eligibility criteria
U.S. citizens can apply online or via the app, while non-U.S. citizens and non-KeyBank clients will need to apply in person at a branch. Applicants must be at least 18 years old, have a valid Social Security number, and present a government-issued ID during the application process.
Income verification may also be required to determine creditworthiness, so having your financial documents in order before applying is a good idea. The card is designed to cater to those with good to excellent credit, but if your credit history is limited, it’s still worth giving it a shot. Just be prepared for a potentially higher APR if your credit score is on the lower side.
How to apply for the KeyBank Latitude Credit Card
Applying for the KeyBank Latitude Credit Card is a straightforward process, whether you choose to do it online, via the mobile app, or in person at a KeyBank branch. Before diving into the application, it’s important to have all the necessary documentation ready, such as your Social Security number and government-issued ID.
Via website
For those who prefer to handle their financial matters online, KeyBank offers an easy-to-use application form on its website. The form takes about five minutes to complete and requires standard information like your Social Security number and income details.
Once you’ve submitted your application, KeyBank will process it and typically provide a decision within minutes. It’s an ideal option for tech-savvy individuals who appreciate the convenience of managing everything digitally. And, because you’re applying online, you’ll have immediate access to track your application’s progress.
Through the mobile application
If you’re always on the go, applying through the KeyBank mobile app might be your best bet. Just download the app, create an account, and start your application from anywhere. The process is user-friendly, and you can also take advantage of the app’s additional features, like credit monitoring and account alerts.
Applying via the app gives you the flexibility to submit your application at any time, and it integrates seamlessly with KeyBank’s other services, so everything you need is in one place. You’ll also get notifications directly on your phone about your application status.
Through the store/branch
For those who prefer face-to-face interactions, KeyBank offers in-branch applications. This option allows you to speak directly with a representative who can answer any questions you might have about the card or the application process. While it may take a bit longer than the online or app routes, applying in person can give you peace of mind if you want a more personalized experience.
Plus, it’s a great opportunity to explore other KeyBank services that might complement your new credit card. Keep in mind, non-U.S. citizens and non-KeyBank clients must apply in person, so this is a crucial step for those applicants.
