Introducing Monzo Flex – a better way to pay later 🚀

Has anyone mentioned the ability to pay the flex from a pot :slight_smile:

That will come via a virtual card, hopefully next month.

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Hey! So I’ve just received my invite for flex :raised_hands::partying_face:

However I wanted to ask a few question before I went ahead.

I’ve been offered a £3000 credit limit which is amazing :tipping_hand_man:

But what I’d really love to know is whether flex is considered to be like a credit card / Credit account?

Does the balance get reported to the relevant credit agencies?

Finally should we treat it like any other credit account for example not using more than 25% credit limit utilisation to avoid hurting your credit score by going over the 25%?:thinking:

Yes - we’ll be reporting Flex as a revolving credit account (similar to a credit card) with your enabled credit limit and your balance as of the end of each month.

Someone asked a similar question before - here’s my thoughts on this subject (For Flex and any other credit card type account)

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The only reason the 25% thing came to mind was because I use many credit score companies one each for Experian, TransUnion, Equifax.

TotallyMoney has a section which says credit utilisation has a medium impact on credit score for using over 25%, Thanks @TheoGibson for your insight into the whole credit utilisation subject!

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Oooh… the return of Midnight Sky…

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No problem :slight_smile:

Ye, unfortunately credit scoring (and generally deciding whether to lend to a customer or not) can be quite complex behind the scenes with:

  • lots of different data points from different types of accounts,
  • lots of different lenders doing different credit score calculations,
  • different CRA’s often with different information,
  • open banking data coming onto the scene,
  • your usage with a specific provider (eg. transactions with Monzo) playing a part,
  • a difference between affordability checks, income verification checks and credit scores
  • the list could go on

And I think the CRA’s (and other credit score apps) have a tough job distilling this all down into something that is simple for customers to understand - and creating an easy to understand 25% line in the sand is a good simple way of doing this - even if it isn’t necessarily 100% correct.

And more importantly - if you’re someone who used to always be above a certain utilisation % (pick 25%, 50%, 75%) and now your consistently under that - this’s likely a good thing from a financial health and affordability point of view - who cares about the impact on your credit score - this is the thing you should be caring about :slight_smile:

TLDR; This line ffrom your screenshot above :wink:

Keep in mind, though, this is simply a guide


I’ve had flex for about a week now. Loving it. Absolutely brilliant product and basically now removes my need for a credit card.

One question I have though is why can’t I flex transactions from a pot? I have a pot with a virtual card linked and none of the transactions allow me to flex like they do for those from my main account feed?


Maybe a silly question?

Can I flex more than one transaction providing it’s all within my limit.

Say flex a £100 transaction and a £50 for example?

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I used flex for the first time today. Works really well and quite clear and simple to use.

However… I hate the fact you pay the first payment instantly. When I set flex up it asked me to pick my pay day. I wrongly assumed this would then be the day I pay all the time.

For example I bought something today, the 16th. My pay day is set as the 1st, after my wage comes in. I thought if I flexed my purchase I’d get my money back and then pay it on 3 installments on the 1st. Nope. It took the first payment straight away, and then I have to pay the second payment in half a month. That’s 2 payments in less than a month?? What’s the point? I was expecting to pay over 3 months.
Maybe it’s back to Tymit for me…


Probably not good news for me then as I’ve never managed to be eligible for a loan, although I have a decent overdraft facility. They’re very strict compared to my CC for example who would let me borrow the price of a medium sized car without batting an eyelid.

The utilisation thing is why my credit limits are so insane… I used to keep them low as I’d been advised by multiple people that if they were high they’d affect your credit score. Found out about this quirk, upped them to about 10x what they were before any my score went up even though I now had the ability to borrow far more than I could easily pay back…

I’m still borrowing exactly the same but my utilisation is now about 10% instead of 90%.


That’s odd yeah, doesn’t exactly fit with the idea of tapping into the ‘buy something right now I can’t really afford’ market. If you have to pay 2/3rds of it in three weeks or so, it gets to feeling you almost might as well wait three weeks and buy outright.

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Yep the more I think about it the more disappointed I am. It’s not really splitting it into three payments if two of them come out in the same wage window.
Seems like a crappier option when compared to Tymit, Klarna or PayPal…


Move your pay date a week earlier and then you won’t have to pay it as it’s within 14 days of the first date.

It’ll skip it and go to the next one

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It doesn’t let you.

I changed my mind and decided to take up the offer, now in the flex club :sunglasses:

I’ll probably not use it much at all, but it’s there for an emergency.


On credit scores, by the way, there seems to be some ‘will this affect my credit score negatively’ and the obvious answer is, yes any credit you have affects other credit you can borrow. In particular, we don’t really know how various banks ‘feel’ about these ‘pay in three’ deals and what they are thinking that means in terms of your credit risk.

That said, what are credit scores for if not for borrowing? There’s no point in curating your credit score, and then not wanting to take any credit in case it impacts your score.

Obviously if you are applying for a mortgage next year you probably shouldn’t be piling up short term debt. But then again it’s not overly likely someone saving hardcore for a deposit is also out making impulse purchases they can’t afford to buy outright from savings.

Or wait one week and then it’ll be inside the window for the second payment being bumped to the next month.

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