I’ve been trying for over a year to be eligible for a Monzo overdraft. I barely use my Monzo card as it is useless for me, but I’ve really wanted to embrace the features of the app. Without an overdraft it would be too much administration for me to switch over from my HSBC account.
I earn in the higher tax bracket, my share of my mortgage is about £350pm, I have 1 dependent child, my credit rating on Clearscore is 470 which they class as “looking bright”.
Why am I not being accepted? I have applied for and paid off credit cards with much higher limits this year without any problems.
It’s the app which really sells it for me as the HSBC app is rubbish. Can anyone recommend other banks with great apps?