Hello Monzo community, I love using the monzo card. all good. I would like to know if using and having a monzo card helps/hinders or has no affect at all to things like credit scores. If not do you think it should or could be? I am looking for credit card. I want to build credit and not have to …

You can’t top up monzo with a credit card. Responsible lenders never allow ‘triangle things’ to enable people to churn money and obfuscate their finances. Why not just get a credit card, use it a little bit and pay it off each month?

I’m not sure Monzo would help you build your credit rating, other than perhaps showing you have a bank account (although mine doesn’t appear on any credit reports so it may have no impact). If you want to build your credit score, I would signup to a free credit scoring site like Experian or Clearsc…

The current account should have an impact on your credit file as typically current account usage is reported to credit agencies.

The advice from @sacha is sound. If you do decide to go ahead with your scheme, I would make absolutely sure that your credit card doesn’t count a Monzo top up as a cash advance. If they do, you’ll pay interest from the day you top up. Much better to just use the credit card for purchases and mak…

Thank you for the advice That does all make. I can see why monzo doesn’t affect credit scores and I can see why I can’t use the triangle idea also. Only problem, this means that I can no longer use monzo… my monthly purchases consist mostly of food shopping. Using a credit card ‘every know and ag…

Having an authorised overdraft, even if you don’t go into it, can help improve your credit report. Monzo will be able to help you with this next year.

[image] anon85847488: my monthly purchases consist mostly of food shopping. Using a credit card ‘every know and again’ would cause confusion and would mean tracking finances on 3 different online accounts. I love being able to track my spending on the app, and I love being able to track my spend…

I use a credit card but pay off each transaction amount with my Monzo card each day. Then add notes including merchant name etc. Bit of a workaround, but allows me to utilise Monzo budget features, whilst collecting points. However my main benefit is when I purchase for multiple people, I can just…

Something I noticed when checking my creditscore, in prep maybe for a mortgage. When I checked my ClearScore report, my Tiny Challenger Bank account appeared in the report amongst everything else (which was scaringly accurate). Just wondering if someone from :mondo: can answer if it will appear in…

2 questions to Monzo regarding credit scores and credit cards

UK Help

anon93718513 30 October 2017 18:17 8

Good news! Help may well be at hand: Other bank accounts in your Monzo App?

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2 questions to Monzo regarding credit scores and credit cards

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