KeyBank Secured Credit Card Program Achieves Major Milestone
KeyBank, a leader in the financial services sector, has recently announced an impressive milestone in its Secured Credit Card program, with more than 40,300 clients graduating since the program began in 2019. This breakthrough reflects the commitment of KeyBank to empower individuals by helping them establish and improve their credit scores while enhancing their financial resilience.
Empowering Clients with Financial Growth
Over 4,400 clients achieved success within the past year alone, demonstrating substantial growth in credit scores and financial health. Approximately fifty-nine percent of these graduates successfully completed the program within just 12 months, while 88% achieved this within 24 months. KeyBank has adjusted its graduation events to take place quarterly starting in 2024, ensuring that more clients are recognized for their credit improvement efforts sooner.
The Benefits of the Key Secured Credit Card
The Key Secured Credit Card gives clients a unique opportunity to not only build their credit but also develop healthier financial habits. If they successfully graduate from the program, clients will transition from a secured card to an unsecured credit card, releasing funds initially pledged as collateral in a Key Active Saver account. This structured method allows clients to pave a path toward Key's traditional credit solutions.
Supporting Clients Every Step of the Way
KeyBank's Director of Consumer Product Management, Dan Brown, emphasized the importance of building a strong foundation for financial literacy and resilience, especially during times of economic uncertainty. He stated, "The Key Secured Credit Card program is designed to equip our clients with the building blocks and knowledge they need to succeed financially. We take pride in our efforts to help so many individuals gain the skills required to progress in their financial journeys over the past six years."
Recent Enhancements to Client Support
Since the beginning of 2024, KeyBank has introduced multiple enhancements to bolster client success:
- Enhanced Onboarding Communications: New cardholders now receive better access to essential tools and training, offering greater transparency and clarity as they build their credit. Additional communications surrounding financial education and engagement have also been rolled out to support clients in 2025.
- Increased Graduation Support: KeyBank is dedicated to assisting those still on their journey toward graduation. From April 2025 onwards, over 11,400 Key Secured Credit Card holders in a seven-state pilot were invited to live workshops aimed at improving financial knowledge regarding credit scores and debt management.
- Credit Line Increases: Since 2024, the introduction of a Credit Line Increase program enables qualified graduates to receive increased credit limits upon graduation, benefiting over 6,500 clients by providing them more flexibility for their daily expenses.
- Access to Traditional Credit: A new initiative launched in June 2025 invites graduates to apply for traditional credit products, reaching over 6,100 clients. The campaign informs eligible clients about credit card options offered by KeyBank, including the KeyBank Latitude® and Key Cashback® credit cards.
Graduates from the Key Secured Credit Card program have shown remarkable improvement in their financial status:
- 72% of graduates entered the program without a FICO score.
- 28% started with an existing FICO score.
- Those who had a FICO score observed an average increase of 85 points by the time they graduated.
Furthermore, many participants who began without a FICO score achieved an average graduation score of 724. Historical data indicates that individuals with a FICO score at the start of the program generally experience an average increase of 68 points upon graduation.
Key Secured Credit Card Features
Some exciting features of the Key Secured Credit Card include:
- While clients work on their credit, their deposits must be kept in a Key Active Saver account, allowing them to build savings simultaneously. The maintenance service charge on this account is waived for Key Secured Credit Card clients.
- This secured card reports clients' payment histories to major credit bureaus, differentiating it from prepaid or debit cards.
- Cardholders can monitor their FICO scores conveniently through online and mobile banking platforms, without any impact on their credit scores.
- With the temporary lock security feature, cardholders can easily lock or unlock their cards using online or mobile banking, reducing the risk associated with losing their card.
To learn more about the Key Secured Credit Card program, tools, and resources, visit KeyBank's dedicated page on their website.
Frequently Asked Questions
What is the Key Secured Credit Card program?
The Key Secured Credit Card program is designed to help individuals establish or improve their credit scores while managing their finances more effectively.
How many clients have graduated from the program?
To date, over 40,300 clients have successfully completed the Key Secured Credit Card program since its launch.
What are the benefits of graduating from the program?
Graduates receive an upgrade to an unsecured credit card, allowing them to access their funds pledged as collateral, and they may become eligible for higher credit lines.
What enhancements have been introduced to support clients?
Recent enhancements include improved onboarding communications, increased graduation support, credit line increases, and better access to traditional credit products.
How does the Key Secured Credit Card help with financial literacy?
Through the program, clients receive educational resources and opportunities to learn about credit scores, debt management, and building healthy financial habits.
