Flex becoming a lot less flexible

UK Monzo Chat
1

I’m surprised there hasn’t been a lot more comment about this recent news that interest-free flexing will be limited to transactions over £100.

IMG_9846
IMG_98461179×2556 201 KB

I suppose I can understand that, as it is, Flex is either likely not making Monzo much money or maybe costing them, but £100 is a high level to set it at. Especially as it was Monzo who added functionality to allow easier flexing of much smaller amounts.

Looking at my own spending, only 7 transactions this year are over £100. On that basis, it feels as though it’s hardly worth having Flex.

Hopefully Monzo will reconsider the threshold. I would have thought £30 or £50 would be more reasonable. Or just scrap Flex and issue a proper credit card instead.

Disappointing.

6 Likes
2

Why would they as everybody that has taken the card after a certain time last year has had the above limits? Due to the above they won’t be changing their minds unfortunately.

3

https://community.monzo.com/t/introducing-monzo-flex-a-better-way-to-pay-later-new-flex-on-apple-pay/

@AlanDoe

1 Like
4

£100 is also the minimum for a section 75 claim, unsure if there’s any relation though.

People are free to close their flex account if they don’t like the rules.

2 Likes
5

I noticed that but there are over four thousand posts covering many other issues over a very long period. I wanted to address this more directly.

1 Like
6

And people are free to comment if they don’t like the changes.

3 Likes
7

It still needs to go in the relevant thread where people were discussing what you’ve chosen to raise separately.

5 Likes