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Business Credit Card Basics

Why do I need a business credit card?

Your KeyBank credit card allows your small business to make purchases without needing to immediately have cash on hand to cover them. A business credit card gives you and authorized employees the flexibility and convenience of purchasing without cutting a check, obtaining cash or determining if there is enough in the account for a debit card transaction. Monthly statements allow you to stay organized and track spending.

What is an APR?

For credit cards, the interest rates are typically stated as a yearly rate, called the annual percentage rate (APR).

What is an introductory APR?

An introductory rate is a promotional rate offered in connection with the opening of a credit card. If your credit card offers an introductory rate, note how long you have until the rate rises and what that rate will be. Refer to your Cardmember Agreement for full details.

Can you have more than one interest rate on the same credit card?

Yes. Credit cards often have different APRs for purchases, cash advances and balance transfers, and these will be clearly outlined in your credit card's monthly statement.

Applying for a Business Credit Card

How do I apply for a KeyBank Mastercard® Business credit card?

You can apply at any branch or by phone. Request a call.

How can I pay my bill?

You can pay your monthly bill in one of the following ways:

  • Go to a branch
  • Call 1-888-KEY4BIZ® (539-4249) to make a payment
  • Through the mail
  • Via Online Banking
Where do I send my payment if I’m mailing it in?

Send your payment by regular mail to the following address:
KeyBank
P.O. Box 89446
Cleveland, OH 44101-6446

To send your payment by overnight mail, use this address: KeyBank Lockbox Services Attention:
Lockbox 89446
5575 Venture Drive
Parma, OH 44130

What can I do with my Online Banking account?

Enrolling in KeyBank’s Online Banking is like having your own personal branch that’s open 24/7. With Online Banking you can:

  • Access your KeyBank business checking, savings, credit card, loans and lines of credit accounts from your computer or mobile device
  • Pay bills
  • View your statements, tax forms and other documents
  • Earn KeyBank Relationship Rewards® points  when you receive your monthly statement online
  • Set up email or text alerts
  • View reports, charts or graphs of spending to manage your budget
  • Keep your business contact information current
How do I change my statement payment due date?

Once your business credit card account is open, you can change your payment due date by stopping in at your local KeyBank branch or by calling 1-888-KEY4BIZ® (539-4249). Once changed, the new payment due date will take effect for the next statement billing cycle.

What are the main differences between the Mastercard® Business Rewards credit card and the Mastercard® Business credit card?
Both cards offer the benefits of no annual fees, zero liability fraud protection and low introductory APRs so you can use them conveniently. The Mastercard® Business Rewards credit card offers the additional bonus of allowing you to earn $5 in rewards credits for every dollar you spend, so you can optimize your business spending. Learn about each card’s benefits and features.

Managing My KeyBank Business Credit Card Account

How do I view my business credit card balance?

There are several ways to view your account:

  • Go to a branch
  • Call 1-888-KEY4BIZ® (539-4249) and follow the voice prompts
  • On your monthly statement sent in the mail
  • Via Online Banking
  • Once enrolled in Online Banking, through KeyBank's mobile app
How do I transfer a balance to my KeyBank business credit card?
  • Go to a branch
  • Call 1-888-KEY4BIZ (539-4249) and follow the voice prompts
  • Using a convenience check
How do I apply to receive a credit limit increase?
  • Go to a branch and submit an application for a higher credit line
How do I add or delete an authorized representative on my KeyBank Business Credit Card account?

To add or delete an authorized representative, please complete, print, and sign the Business Credit Card Authorized Representative Maintenance Form. The form should be mailed to:
Cardmember Services
P.O. Box 89441
Cleveland, OH 44101-6446

What happens if I have unauthorized charges on my business credit card?

Notify KeyBank as soon as you suspect unauthorized charges on your credit card. If the charges are fraudulent, KeyBank will file a dispute to reclaim those funds, issue you a new account number and close your current credit card account to prevent additional unauthorized charges. If the charges were placed on your account in error (e.g. a double charge from a merchant), KeyBank will file a dispute to correct the error and reclaim those funds.

How do I use my business credit card at ATMs?

To use your KeyBank credit card for a cash withdrawal at an ATM, you’ll need a personal identification number (PIN). This PIN cannot be provided or created over the phone. To setup a PIN, visit a branch or call 1-888-KEY4BIZ® (539-4249) and follow the voice prompts to request that a PIN be sent to you in the mail. Once you receive your PIN, you can then change it by calling and using the automated phone system.

How can I add an authorized user onto my business credit card account?

You can add an authorized user to your KeyBank Mastercard® Business credit card in one of the following ways:

  • Go to a branch
  • Call 1-888-KEY4BIZ® (539-4249) and follow the voice prompts

At this time you can't add another authorized user through your Online Banking

How is my financial information kept secure?

KeyBank uses state-of-the-art technology to ensure a secure connection. We deliver a secure environment through a variety of methods, such as encryption, firewalls and customer-controlled passwords.

What do I do if my business credit card is lost or stolen?

Report credit card theft as soon as possible by to KeyBank at 1-888-KEY4BIZ® (539-4249) and follow the voice prompts.

How do I put a travel alert on my credit card account?

To alert KeyBank that you will be traveling and making purchases on your credit card:

  • Visit a branch
  • Call 1-888-KEY4BIZ® (539-4249) and follow the voice prompts

At this time you can't add a travel alert notice through Online Banking.

Debit Card Basics

What is a debit card? How is it different from a credit card?

Debit cards look just like credit cards, but have a few important differences. A debit card is linked directly to your business checking account, so when you use it to make a purchase, that amount is deducted immediately. You’re not charged interest or, in most cases, fees. A credit card is like a loan. You have time to repay that loan, but may be charged interest if it isn’t paid in full.

KeyBank small business debit cards allow for simple payment transactions and can be used at ATMs and millions of retailers worldwide that accept Debit Mastercard®. However, they don't offer the fraud protection that credit cards do. Also, a credit card's ability to pay for unexpected expenses when you don't have the funds in your account can be an important convenience. Debit cards are available with any KeyBank business checking account.

Online and Mobile Banking Benefits

How do I use my mobile device to manage my KeyBank business credit card account?

First, you’ll need to enroll in Online Banking. Then, download the KeyBank app to your mobile device. Use your Online Banking user ID and password to access your account. Within the mobile app you can:

  • View account balances
  • Transfer funds between your KeyBank accounts
  • Make payments to existing payees
  • View and cancel scheduled Bill Pay payments
  • Search and view your transaction history for the last 90 days
  • Make mobile deposits to your deposit account
How do I use email and text alerts?

You’ll need to be enrolled Online Banking. Once you’ve logged into Online Banking, follow the prompts to set up email and text alerts.

How do I set up Apple Pay™ with my KeyBank business credit card?

To start using Apple Pay™ in connection with your KeyBank credit card, open up Passbook on your Apple Pay-compatible device, then swipe down and tap the plus sign. Use your iSight camera to enter your credit card information (or type it in manually). Start shopping! You’ll continue to receive all of the rewards, benefits and protection your KeyBank credit card already provides. Note: The card you have stored in iTunes is your default payment card. Switch the default card in your Settings.

KeyBank Chip Card Information

What is a chip card?
Newer KeyBank Mastercard® Business credit cards come embedded with a microchip, which offers more security worldwide. At participating retailers, you can insert your card into a chip reader for added protection. For those without chip technology, you can continue to swipe the magnetic strip on your existing card just as you already do. KeyBank credit card holders with older cards will be receiving replacement cards with chip technology at a later date.

Understanding Your Credit Score

What is a business credit score?

Your business credit score is a number that helps financial institutions determine how likely your business is to repay debt. Every time your business applies for, uses, makes or misses a payment on a loan or credit card, you build another entry that raises or lowers that number on your business credit report.

How do I establish a good business credit score?

The following steps can help you work toward establishing a good business credit score:

  • Limit the number of cards you take out
  • Be sure to pay your monthly balance on time
  • Don’t run up the balance on your card
  • Keep well within the credit limit on your account
  • Pay off card balances instead of moving debt to other cards
  • Check your credit report at least once each year to make sure it’s error-free
Where do I get a copy of my business credit report?

Business credit scores are compiled by Dunn & Bradstreet, Equifax and Experian.

Disclosures

All credit products are subject to credit approval.

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