Import Credit Cards for summaries, budget and upcoming payments


#1

One of the big drivers for Monzo is the ability to categorise your payments, do your budgets and see where your money goes. All of this is great, but only if you use your Monzo account for all purchases.

If you’re like me, then you use a credit card for all purchases, and pay it off at the end of the month.

The problem with this is that my Monzo account basically just has my salary coming in, then my direct debits and standing orders, and then 1 large credit card payment.
The only way I can get a good summary on this is using something like Yolt, but then that just makes Monzo pointless as its basically doubling up on features.

It’d be good to have the option to link my Credit Cards to Monzo . Monzo could then pull the details every 24 hours or so, and give me the same breakdown as it does for my current account. It’ll then mean I could budget more accurately, and also do things like tell me if I’m spending too much etc.


#2

I’m exactly like you - The only time a debit card is used is when they don’t take Amex (which is rare these days, certainly where I shop).

I would 100% use a feature like this (I think it may have been mentioned before) - But with the aggregators like EMMA/Yolt, I’m not sure it’ll ever happen.


(Jack) #3

I’d also love this! The ability to import my AMEX data would be +1


(Micky) #4

I think that unless you use Monzo for all(or at least the majority) of your purchases the whole summary thing is pointless. I gave up my amex cashback for the Monzo summary feature basically, time will tell if its worth it.


(Andy - Customer of Monzo - Own Thoughts) #5

I’ve never had an AMEX and in process of getting rid of credit cards but this would be pretty cool to see. I think as/if Open Banking takes off we will see this appearing more over time.


(Richard) #6

I always suggest it’s worth keeping at least one.

Large purchases makes the credit card lender equally liable if there’s a problem! Even paying the deposit on the credit card makes them liable for the whole purchase :smiley:


(Andy - Customer of Monzo - Own Thoughts) #7

Yep. I’ve got an old credit card with 12 years of history on it which I keep active for my credit file and incase of emergencies :slight_smile:


#8

The thing is, the big drive of Monzo is that they have all of this in house. If I have to use Yolt to get the other data, I might as well have stuck with Natwest.

It’d be much better to get notifications from Monzo and suggestions. They could do things like enable your overdraft if your incoming credit card bill is going to be more than your have in your account etc (maybe a bad example but you get the idea)