Credit Card inside Monzo 👀

I’d +1 that :slight_smile:


2 posts were merged into an existing topic: Referral Wiki: Post/Find Here

This is great news. I spend exclusively[1] on my American Express Platinum Card[2] and have my Monzo card permanently frozen, using my Monzo account only for scheduled payments (salary, rent etc.). Having access to my all of my scheduled and daily spending in one place will be very helpful, as I’m currently switching between multiple apps. I am looking forward to this a lot :slight_smile:

[1] This isn’t strictly true, if I encounter a retailer that doesn’t accept American Express then I use a Natwest Reward Black Mastercard but that’s very uncommon.

[2] I can’t recommend American Express enough, the benefits and quality of service is second to none. Additionally, because many of their cards are charge cards[3] (instead of credit cards) they are great for people who don’t want to deal with the temptation of using a credit card irresponsibly and building a large balance. Although the Platinum Card has a £450 annual fee, they also offer the Basic Card with no fee or The American Express Card with a £60 annual fee. Responsible use of credit is very good for building a strong credit history, a charge card is a great way to build good credit without exposing yourself to risk of overspending.

[3] A credit card has a minimum payment required every month (e.g: £5) and the user can decide how much of what they have spent they pay off, potentially building up a large balance over time and leading to out of control debt, whereas a charge card requires full payment of the balance at the end of the month which prevents a balance growing out of control over time.

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Is this how it works? I thought a charge card doesn’t help because you’ve not been given any credit.

Anticipating this thread getting spammed with referral links, I think it’s worth pointing out the community has a thread specifically for such links

This contains a bunch of Amex referral links. Anyone interested in receiving a referral bonus can click any of the Amex links (even if listed as for a card you’re not interested in) and then scroll down to the bottom of the referral landing page and choose the reward for the card you are interested in.


Hmmm. There’s no limit on a charge card and it must be paid back in full every month, usually with less time than you’d get with a credit card.

You’d be at greater risk of getting into financial difficulty with a charge card, I reckon.

I think in the UK most of Amex’s cards are Credit Cards anyway, they’ve definitely stopped promoting the charge card versions if nothing else.

How do you figure that?

I took out a charge card last month for the membership points alone. I figure I might as well be rewarded for my spending. I also took out a cash back credit card with AMEX. So I now have a debit (Monzo), credit & charge card (AMEX).

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Probably this: “There’s no limit on a charge card and it must be paid back in full every month.”


There’s “no limit” but they assess your eligibility based on credit rating, then authorise transactions based on your past spending and payment history. I have a 25 year history of repayments including the occasional large monthly balance; some of what I’ve spent without a problem may have been queried had I tried to spend it within a month or two of opening the chargecard account though.


@jzw95 A charge card is essentially a type of credit card. There is no difference in credit reporting for a charge card, the only difference is in the ability to carry a balance through multiple months. Your usage and repayments are still reported every month to the referencing agencies, and your usage of the card reflects upon your credit worthiness.

As @projectfortytwo says, “no limit” is more accurately stated as “no pre-defined limit”. There isn’t a hard limit but they do keep an eye on your balance, and may reject transactions that exceed a soft-limit. There is a utility available through the American Express dashboard that allows a user to check if a payment (e.g: £10,000) is likely to be approved. At the start of my American Express membership I spent more than £6,000 in a few weeks and received a call from them to check if I was able to pay that off, but nowadays because I’ve built many years of good history with them they’d approve >£20,000 payments no problem.


Charge cards also aren’t covered by section 75 like credit cards so you don’t get the same level of legislated protection.

I don’t know how this impacts on the real world though, AMEX may have chosen to offer the same sort of cover as part of the package.

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@Kumnaa I can’t speak for other providers but American Express specifically are widely regarded as the best in the industry for customer service, their protection for customers exceeds what is legislated – even if in some circumstances the card in question is not covered under legislation. The higher than average membership cost and higher than average payment processing cost is what allows American Express to offer the higher level of protection and rewards.

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My barclaycard is coming to the end of its 0% period so i could potentially move over to an amex now.

Could someone who has a little more knowledge on amex’s break down which one is the best value and in which cases? :thinking:

As usual, moneysavingexpert have some info on the cards (as well as others)

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It depends what you’re looking to get from your credit/charge card. Amex is all about benefits in my opinion. I took out a charge card because of the membership points and a credit card because of the cash back rewards.

Funnily enough, the Amex website is down (for me anyway), so I can’t do an up to date comparison.

  • Just managed to load it on my phone, and I can’t even find an option for the Gold Charge card anymore - It’s only the Gold Credit card.

Historically, charge cards have been the best “rewards” cards in the UK.

Up until a few years ago, you couldn’t even get the Gold Credit card - It was only a Gold Charge card.

I’d had my Gold account for about 5 years, and then I was offered a “complimentary” credit card to go with it - Something that wasn’t available online, and carried no annual fee (charge card was £140 per year I think).

However, the credit card didn’t have as many perks back then - But you still accrued your points for every pound you spent.

Fast forward to last year, and when I looked, it seemed like the credit cards had overtaken the charge cards, and in fact, the charge cards were hidden on their website.

The credit cards had the same annual fees as the charge cards, the same perks, but obviously had a credit limit where the charge cards had none.

The APR is never great, so if you are looking to spread the cost of purchases, I’d still go elsewhere.

Ultimately, from what I could see at the time, there was very little difference these days between charge and credit cards from Amex.

The Gold Credit card is still one of the best all around rewards cards - I find the “membership points” you accrue work out more than the cash back on other cards - But this is entirely dependent on what you spend them on.

The Gold credit card is free for the first year (£140 per year after that), and you’ll get a load of membership points as a bonus (probably enough for 1 or 2 adults to fly for free on a return trip with BA anywhere in Europe).

If you went down that route, I’m happy to send you a referral code where you get extra points (and I get them as well), but I won’t post it on here :smiley:

If you want to know anything else, just let me know.


Amex quietly discontinued the Gold charge card for new applications a few months ago. Card design remains the classic Gold card style, but for new applicants you’re applying for a credit card. Green and Platinum (and Centurion) are still charge cards. I have a chargecard with a companion credit card (which is fee-free as a companion card) and I’m hoping they keep it that way…

Not sure if the rules have changed, but I was able to cancel my charge card and keep the companion card, paying no annual fee and still accruing (and keeping my existing) membership reward points.

But this was before the credit card was publicly available.

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If 0% cards are something that interests you then you probably don’t want an Amex.