Got this yesterday 
. Wonder if there’s an increase from £6,000 max coming …
I also got this yesterday. Not that I need a rate increase but it’s definitely useful occasionally
I really like they’ve thought this out and given the option of not being considered for increase.
Not sure I like the idea of it in principle though, feels a little predatory and could encourage the wrong behaviours (people getting into more debt)
I think this is an option they have to provide, no? Every credit card I’ve applied for has allowed you to select a preference (accept any increase, offer increases or don’t offer increases).
I don’t know, maybe? If they have to it explains why it’s there.
Yeah this change forcing banks to allow people to opt out of automatic limit increases was put in place years ago.
However it does seem Monzo is taking an even more responsible approach, whereby even if you don’t opt out all you get is the offer of a limit increase vs what banks used to do, which was to automatically apply said increase.
The first screenshot above informs “You can opt out of this at any time from the manage limit screen.”
But in the Flex account details it is (at this time) ‘Credit limit’. When you tap on that, the ‘Manage limit’ settings are shown which are reassuringly within user control:
Yay!
Some might argue it should be opt in as opposed to opt out (I am the some), but it’s pretty clearly communicated and easy to do.
Flex is my favourite Monzo product. Has been for some time. But with the new Apple Pay instalments integration, it’s more and more frequently replacing my standard credit card, so I’m now in the market for a higher Flex limit.
Just got this too for flex increases for notifications at top of my feed.