Article - Why going 'full Monzo' can damage your credit score

could be that then :slight_smile:

I think mozon need to report to all Credit Agence all offer banks do.

Here’s my regular but unpopular comment whenever this comes up:

I do not want Monzo (or anyone else) sharing my personal data with additional private firms without my consent. For me, it’s currently a benefit that data is only shared with one CRA, not pipe-hosed to all three.


The fourth article in a relentless series of anti-Monzo articles from the Torygraph. Anyone would think they would have a vested interest in trashing a competitor to their main advertisers.

Oh, hang on.


It’s ok, it’s not like Tory voters hold any sway over the entire rest of the UK… OH WAIT!

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Haha, take THAT, Telegraph!


Is part of this not that having long standing account is seen as a positive so closing an older bank account that you’ve had for 20+ years will no long be on your list of positive impacts.

I’ve been full monzo for almost 2 years but didn’t close my old account and saw no change in my credit score when i switched.


Hope they print a story tomorrow that Monzo customers won’t get £1000 each :money_mouth_face:



I’ve already spent mine!

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Surely this is a problem that could be experienced by anyone who just had 1 bank though? They say it’s because Monzo only reports to TransUnion so a check to Experian will return no results - what if a bank like HSBC or Natwest only report to Experian? A search to TransUnion would return no results so surely that’s just as damaging to your chances of getting credit?

As I see it, it’s not going full Monzo that’s the problem - it’s doing all your banking with a single company when there are multiple and various credit agencies used.

Also, is it just me or does the Telegraph regularly do negative articles about Monzo?

They have to have a click bait Monzo article once a week


I was bored so I did a quick search on the company info for the Telegraph Media Group, theres a director who happens to be involved with Shop Direct (Very) - wonder if its a coincidence that customers have problems using their Monzo account from time to time?!?


Just my two cents but I can’t get a credit card because of going full Monzo. My chance of getting accepted maxes out around 90% and that’s for really shitty cards.I don’t use my personal account and my joint is my main account, which doesn’t appear on my credit score. I’ve been full Monzo for about a year now switching from Santander. I get rejected for credit cards despite never missing payments or even having a credit card. I earn more than my SO who for some reason is able to get a credit card despite never having one previously, having the same score, the only difference is she kept her Santander account open.

What’s very strange is my score is better than it was with Santander… I’m planning to get a mortgage soon, so if Monzo doesn’t get this sorted and I can’t get accepted for a mortgage I’ll be switching.

Is this not because you’ve not had a credit card before so you’re higher risk (just how I’m interpreting your post)? If so, you’ll probably need some sort of starter card with a low limit to show you can be responsible with credit.


Don’t let your bias get the best of you. I also can go to the BBC and Guardian and selectively pick out articles critical of Monzo. Likewise i can go to the Telegraph and selectively pick out articles which aren’t critical of Monzo.

I think this might actually be a good idea. On the other hand i can see it harming peoples ability to get any sort of credit or mortgage having not opted in for not knowing any better.


It seems First Direct only reports to Equifax. Monzo only reports to Call Credit, some banks report to one, two or three of them.

I had pretty bad credit history (defaults on my phone contract while I was at uni :grimacing:) when I went full Monzo and CASSed away from HSBC almost 2 years ago.

Since then I have been accepted for a new phone contract and 2 new credit cards, and set up PayPal credit, so being full Monzo has definitely not negatively impacted my ability to get credit.

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My girlfriend as I mentioned got a 12 month interest free credit card for her first card though? The only difference between us is she kept her Santander open.

What about other credit history? phone contracts, overdrafts, stuff like that. These all contribute towards the credit check.

There are so many factors in a credit check that it’s extremely unlikely that is the only difference.