Now that there is a physical card. Are we able to do a credit card balance transfer to pay off a flex balance?
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Any guinea pig want to try?
(Iām thinking it probably would work, wouldnāt it?)
Liberally @ing @TheoGibson for academic interest more than anything!
A neat feature would be to be able to add another person to the card (similar to how AmEx do it)
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What CRAs does Monzo Flex report to?
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Doubt it. The way balance transfers work is the other company pays off your balanceā¦ Via sort code and account number transfers. Which flex does not have.
Flex is on TransUnion and Experian only.
Current account on all three.
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No it fails I tried this last week, allowing customers to complete balance transfers is on my list of features to be added
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No you can use the card number and expiry date to process a balance transfer with some credit card companies
Ah okay thanks
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Unless they change their rules this would essentially be paying off debt with a pay in three style credit account, so Iād not be betting on it anytime soon.
Itās almost akin to using Klarna to pay off your Amex.
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I once did BNPL with BNPL. Amazon offered to split payments into 5?! And I payed them with Tymit to split into 3 eachā¦ The rampup was slow and payments in the middle were all the same and then a run down. Overall seemed pointless in the end. Overall splitting payments like flex is more useful than N months of 0% purchases. As that is effectively split into 24 payments, which keeps becoming split into 23, 22, 21ā¦ over time effectively.
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Experian and TransUnion only. Flex limit or spending is not reported to Equifax.
Please note that this is different from the Monzo current account thatās reported to all of them.
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Iām yet to use my physical flex card (or the virtual card for that matter). To date Iāve just been picking transactions from my personal account feed to flex, which I think is my preferred approach for the time being.
What does using the physical flex card mean for the Google sheets exports? How do they appear?
They donāt appear at all, but thatās actually how I like it, as then I count paying it back as the payment.
But this means you canāt configure the sheet to show your flex balance.
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Cool, yeah thatās fine with me. Glad it doesnāt break anything.
I make so few transactions in person nowadays (that arenāt joint expenses), that I canāt see myself using the physical card. And when I do make a personal expense that I fancy flexing, Iāll review it in my feed afterwards and flex it that way. I get how it can work for others, just doesnāt quite fit my circumstances I guess.
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Just used my Flex card to buy a new car. Sadly the Ā£500 doesnāt cover the whole thing, just the deposit.
Section 75 covered on the whole purchase now though 
provided less than Ā£30k anyway 
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My first car was Ā£500 - punto
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Ā£450 for a Fiat 127 which turned out to need about Ā£500 of welding. I also turned out to be allergic to the seat fabric.
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