Giving this some more thought, I don’t think the answer is quite so obvious nor as simple as the one I hastily jumped to. It’s a tricky dilemma indeed, and one I’d need to find some extra free time to put some real thought into discussing. Remind me in two weeks!
I think for now I’m still in the when I repay flex camp. I’m a logical being and that feels most logical to me in this context. But I appreciate and realise it’s at odds with connected credit cards and isn’t quite so straight forward or simple. I can see things your way and could probably be convinced by your logic too.
You’ve provoked my brain into thinking (procrastinating) when it should be bug fixing ahead of an immovable deadline!
Edit: just taken another look at the poll results and given the brexit level division between us on this, the extra thought is justified. If Monzo start putting pro when you repay flex propaganda messaging on the side of their busses, I’ll change my vote to join the 48%.
Pretty sure in the sign up flow it details all this for you.
This is from the T&C
How does the virtual Flex card work?
When you pay with your virtual Flex card, we’ll automatically take the money for the transaction from your linked current account and then return it to that account from your credit limit. We’ll do this as long as you have enough available credit on Flex for the transaction.
You’ll need to have enough money in your current account to cover at least the first minimum instalment, for the payment to go through. That’s because we take the first instalment straight away when the plan is selected. We calculate this by assuming the lowest first minimum instalment you could make, which is the transaction cost divided by 12, not including interest.
You’ll need to select an instalment plan after making a payment on the virtual Flex Card. We’ll send you reminders to do this. If you don’t pick one, we’ll automatically put you on the instalment plan which creates the lowest instalment amount available for the transaction.
I would assume your limit in that case would effectively be £90. You only need to have enough for the first payment for it to go through.
As much as it has a card and looks like a credit card when using it in that respect, it’s still just a buy now pay later instalment plan with section 75 protections.
Edit: I’m wrong. It doesn’t default to 3 months. Multiply your balance by 12 and that’s your effective limit if there’s no overdraft facility.
I’m not sure this is quite right. When I tested this, the money leaves my flex account (it’s deducted from the credit limit and doesn’t show on my main monzo feed). It then just takes the first instalment from my account. I think the wording needs fixing here.