Financial education: borrowing and debt

A new series lifting the lid on life’s most misunderstood money matters.

First up, borrowing and debt :bank:


The below should help people understand why they still can’t have a loan or overdraft despite their score being high.


It still won’t stop the but my score is 920 and it’s like better than most people so why can’t Monzo give me one (overdraft before anyone’s filthy mind gets going :joy: )

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Not a completely invalid question… Monzo is a very conservative lender in my personal experience at least.

I do like the article though. I think it’s good to help people understand that, say, overdrafts are not for long term debt (less sure about credit cards, they can be used for medium term debt but I guess that gets complex).

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