Credit Card News
KeyBank Secured Card Reveals Latest “Graduating Class” Details
Thousands of Key Secured Credit Card customers are ready to “graduate.”
About the Key Secured Credit Card and Its Recent Graduating Class:
As KeyBank reports, during the first half of 2025, 4,400 secured credit card customers have been able to “graduate” to an unsecured product. Of these recent graduates, 59% were able to achieve this milestone within a year, while 88% were able to do so within two years. In total, 40,300 Key Secured card customers have moved to unsecured creditworthiness since the program was introduced in 2019.
With the Key Secured card, customers can secure their credit limit by making a refundable deposit to their Key Active Saver account. The minimum deposit is $300. Then, as clients use their cards and make their payments, this information is shared with major credit bureaus. Each quarter, KeyBank will review customer accounts to see if they’re eligible for graduation to an unsecured card. If they are, they’ll be able to access their Key Active Saver security deposit.
There is no annual fee for the Key Secured Credit Card.
According to the bank, 72% of those who open a Key Secured card have no FICO score at the time of applying. For these customers, the average FICO score at the time of graduation was 724. Meanwhile, of the 28% who do have a FICO score, the average credit score improvement from the program is 85 points.
When secured cardholders are ready to graduate, KeyBank has options such as the Key Latitude Card or Key Cashback Card. With the latter, customers can earn unlimited 2% cashback on all purchases — if they make five or more qualifying transactions with their active KeyBank checking account each month. Those who don’t reach this requirement will earn 1% back instead.
What They’re Saying:
Discussing the Key Secured card’s latest graduating class, KeyBank’s Director of Consumer Product Management Dan Brown stated, “Consumers need a strong foundation to help them build financial literacy and resiliency, particularly in times of economic volatility. The Key Secured Credit Card program is designed to provide our clients the building blocks and education needed to move forward on a financial path of success.”
Brown continued, “We’re proud to have helped so many graduates over the last six years gain the necessary skills needed to take the next steps in their financial journeys.”
My Thoughts:
It’s great to see that consumers are finding success with KeyBank’s secured credit card and establishing good credit as a result. I also love that the card has no annual fee and a relatively low minimum deposit to make it more accessible. That said, I’m not crazy about Key’s unsecured products after graduation. While they’re not terrible and could be a good temporary solution as customers continue to improve their scores, they may want to look for better cashback options as they become available.
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