Credit Key charges 0% for the first 30 days on every purchase. After that, fees start at 1% per month and vary by loan amount. There are no setup fees and no prepayment penalties. On a 6-month plan, a flat 1% monthly fee is roughly equal to a 20% APR.
What Credit Key publishes
| Charge | Amount |
|---|---|
| First 30 days | 0% on all purchases |
| After 30 days | From 1% per month; "fees vary based on loan amount" |
| Setup fee | None |
| Early payoff | No fee or penalty |
| Credit Key Card | No setup cost or additional card fee |
| Late fees | Not published on its FAQ; check your loan agreement |
Estimate your own fee
Credit Key fee estimator
Illustrative only. Your offer shows the exact fee before you confirm.
Assumes the monthly fee is charged on the original amount for each month of the plan and paid in equal installments. Credit Key advertises fees "as low as 1% per month" and says fees vary by loan amount, so treat 1% as the floor, not the typical rate.
Worked examples at 1% a month
| Purchase | Plan | Est. fee | Monthly payment | Rough APR |
|---|---|---|---|---|
| $2,000 | Net 30 | $0 | $2,000 once | 0% |
| $5,000 | 6 months | $300 | $883.33 | ~20% |
| $10,000 | 12 months | $1,200 | $933.33 | ~22% |
| $25,000 | 12 months | $3,000 | $2,333.33 | ~22% |
These assume the fee is charged on the original amount for every month of the plan. A flat monthly fee costs more than the same number quoted as an APR, because you keep paying on money you have already repaid. That is why 1% a month is not 12% a year in practice.
How that compares
A bank line of credit for an established business usually costs less. A business credit card carried at a typical purchase APR costs about the same or more. Net 30 from a supplier is free if you pay on time. See Credit Key vs a business line of credit.
Keeping the cost down
- Use Net 30 when cash flow allows; it is the only plan with no fee.
- Choose the shortest plan you can comfortably meet.
- Pay off early. There is no penalty, though confirm in your agreement how fees are adjusted.
- Compare the dollar fee against your card and bank line before confirming.
Fee by plan length
Why 1% a month is not 12% a year
With an APR, interest is charged on what you still owe, so the charge shrinks as you repay. With a flat monthly fee on the original amount, you pay the same fee in month six, when most of the debt is gone, as in month one.
On $5,000 over 6 months, a 1% monthly fee totals $300. A loan at a true 12% APR with the same payments would cost about $176 in interest. To cost $300, the APR has to be roughly 20%. That is the number to compare with a credit card or a bank line.
Costs Credit Key does not publish
- The top of the fee range
- Late-payment fees
- How fees are adjusted on early payoff
- The cap on Credit Key Card transactions
These are in your loan agreement or shown at checkout. Read them before you confirm a long plan.
Questions to ask before confirming
- What is the total fee in dollars for this plan?
- If I pay off in month three of a six-month plan, what do I save?
- What is the late fee and is there a grace period?
- Is the personal guarantee unlimited?
Common questions
What is Credit Key's interest rate?
Credit Key quotes a monthly fee rather than an APR: 0% for the first 30 days, then from 1% per month, varying by loan amount.
Is there a fee to open an account?
No. Credit Key states there are no setup fees, and you pay only for credit you use beyond the first 30 days.
Can I pay off Credit Key early?
Yes. Credit Key says you can pay off at any time with no fees or penalties.
Sources
Checked November 12, 2026. We link to primary sources so you can verify each figure yourself.