The KeyBank rewards program works by having customers collect points through various banking activities, including purchases made with credit and debit cards, and providing an option to exchange the points for rewards such as gift cards or merchandise. Participation in this program requires a qualifying KeyBank checking account.
As of 2015, customers can exchange the points they collect for electronics, travel opportunities and charity donations, among other rewards. They can also exchange the points for cash, with 12,500 points being worth $25. Customers can visit the Catalog section of the KeyBank Rewards page to peruse the available options for redeeming points. They can also use the Relationship Rewards Point Calculator to determine the rate at which they have collected the points.
Customers who enroll their checking accounts and credit cards in the rewards program can earn points for using savings accounts and loans in addition to credit card purchases. Customers can also earn bonus points by opening new accounts with KeyBank and taking part in various shopping deals and personalized offers connected to the rewards program. Although KeyBank charges a low fee on a yearly basis for certain types of checking accounts, including Key Express Checking and Key Coverage Checking, it doesn?t include a fee for redeeming points or taking part in the shopping deals.