Usually a company chooses a pool of criteria to lend to. And then cap it. It is possible that the class of borrowers like you is currently full. And they need to grow other classes of borrowers first to spread their risk. Eventually in time they might be in a position to offer it to you.
example. imagine if they gave cards to all staff of the Flybe airline. Then Flybe went bust. Then Monzo despite lending to people of variable income (from part time crew to CEO) who all paid their bills on time end up with very sour credit lines.
So it could be that you are a fine borrower, but it doesn’t fit with the rest of borrowers Monzo has already acquired, meaning they are not in a position to offer credit to you personally.
It is a two way test. Lending criteria need to be met by both Monzo and yourself, relative each other. It is not like driving license where everyone who passed gets a license. It is more like black cab licenses - not only one has to pass a test, a spare black cab licence is also needed to be available.
It’s definitely a bit much. How many customers are genuinely freaking out because they can’t flex a refund? I don’t think anyone would complain if the Flex box wasn’t there at all.
Yup very tough when I’ve had no notifications whatsoever. I think something is broken as I don’t get any Monzo notifications in my Android app.
I agree, the left to spend is something I use quite heavily too for predicting how much I’ve got left. I’ve set the flex payments to be the 5th of the month, do after the 5th it generally is more accurate after the forest payment has been taken.
Does it really need to be the same card? I’ve done it a few times where I’ve paid on the credit card and then got the refund through Google pay to Monzo, especially useful if I’ve crossed the credit card statement date between payment and refund. Oh it’s a different number? Google pay doesn’t show the actual card number used.
Oh it seems the virtual card number is now shown in Google pay. I think it didn’t used to be.
On the global search of transactions I could see this being a feature especially useful for plus and Pro accounts where you have other account transactions and want to be able to search in them.
I’ve had Flex since mid October. I’ve used it for a handful of transactions where spreading the cost over a longer time than the credit card has been useful or I’ve not had my wallet with me and been able to use the virtual card instead for paying online. All interest free so far and working well. I generally put most of my spending through my credit card for the cashback. Flex particularly useful for things like annual home insurance as able to spread the cost a little as new supplier doesn’t do the monthly payments at no extra cost like the previous one.
Seems at some point the Monzo notifications has been turned off at the OS for some reason. I’d probably intended to silence some of the marketing push notifications instead disabling all notifications.
Overview cards and Monzo Apple Pay card updated to premium cards.
But when I tape card details in flex it brings up the old colour card, and also Apple Pay doesn’t update either (think the latter has already been mentioned)
🤦)
