In more Flex related info - I paid off my first Flex’d payment as of Thursday last week 
Got a mix of 3, 6 and 12 month payment plans and the visibility in my opinion is pretty great. Yet to use the virtual card but was able to load it up to Google Pay with no issue. The temptation to try it out and treat myself to something is strong.
Ok so my experiment is over and you’ll be pleased to hear I picked a plan at 10:50 pm.
In summary these are the notifications you get
2 in app notifications on the day of your purchase (at the time of, and an hour later)
1 in app notification the next day - at 9 am - which includes the costs of the 12 month plan.
Then 2 text messages, at 12pm and 6pm, the latter of which includes the cost of the plan.
So you’d be hard pressed to say you weren’t warned or given any context of the costs etc of going onto the 12 month plan if you do nothing.
I will stop bothering the Flex Gods now and use the feature as intended.
What happens if:
Limit £500
Item £571
Will it allow me to flex up to £500 of the item or only the full item amount?
So if I purchased said £571 on debit card, would I be able to flex the £500 worth or?
Nope.
That’s disappointing.
Game keep having the PS5 go live but in bundles only, which are as above £571 lowest.
I’d prefer console only tbh but was curious.
Split over X months, flex should understand that would be affordable surely? As it would only need to accommodate the first monthly repayment, not the full balance; when assessing the total repayable?
There has to be a limit….
Otherwise you could have a purchase for £120,000 split over 12,000 easily affordable £10 monthly payments.
At some point any credit company need to go “Right this is customer X’s overall limit”. It isn’t just what you can afford monthly. If it were, all my credit limits would be insanely high.
But if you looked at £571 / 6 = £95.17 first payment, leaving £475.83 that leaves me within budget.
I see both sides, but more flexibility would be nice, similarly to paying off 50% today and the rest next month.
The bank account and the flex limit is both available, but not flexible enough to make it work in favour of the customer.
But you’re not within budget at the start. That’s the key.
I don’t think it’s fair to say it’s “not flexible enough” as you’ll always have people trying to push the boundaries. They have to have a cut off at some point.
If I was in store:
I’d have paid £71 on my debit card
Paid £500 via flex card
Then had the opportunity to flex the £500 in my favour (which is somewhat the point of flex, to be flexible in payments).
Rough example fyi.
I think the point here is that it’s really difficult (if not impossible) to actually reach your approved credit limit with Flex.
If you’ve got a £500 credit limit, you should definitely be able to Flex something worth £571, just the product as it currently stands isn’t smart enough to only offer repayment terms that keep you under your credit limit.
Funnily enough, if the store allowed you to do this, you would be able to flex both transactions with your £500 limit.
Buy £80 game gift voucher and apply that at the checkout first. Then you’re in your limit
Smart idea!
I’m just still working it out as I’ve yet to use Flex for anything with the limit I have (reasonable and understandable).
My logic was there I’m just not good at explaining but I’m theory yes, it should.
It shouldn’t factor in the first month if we pay that in advance.
I see what you mean, and I’ve had a think about it, and I agree it’s an odd thing when you think about it but then maybe there is a logistical reason why they can’t do it.
I am thinking of it in the same way that if I get a mobile contract and choose to pay more upfront I can get a more expensive phone - O2 might internally say “he can have up to £900 loaned to him” but if I say I’ll pay £500 upfront then they will allow me to get a phone worth £1,400 because of this.
I just don’t know how it would work, practically. It seems to stem from the initial payment being taken at the point of purchase, which means 1/3 of the purchase isn’t a loan, it’s you paying upfront.
My only guess is something like section 75 where the full purchase would be covered and makes Monzo lives easier challenging something like that.
There’s room for improvement with flex and overall it’s a good product, but the things mentioned above probably need some attention.
If flexing something and the first payment isn’t due for a month from purchase then I can understand.
The point of never actually being able to use your full credit limit baffles me, unless Monzo intends to also make this a standard credit card facility over time.
A question for @TheoGibson if he’s still around these here parts:
I know that you’ve got a to do list as long as your arm, but have you thought long term about exposing any data or analytics on Flex use to users, maybe via Trends?
Things I’m thinking about:
Etc etc! 
Your optimism for things Monzo will do never cease to amaze me.
Do not change, ever 
I use this forum as a repository for all the product ideas I shall work towards when I start my own fintech (or oust Anne in a bloodless coup).
You only need to pay some of any purchase on a credit account for it to qualify for S75. You can pay £1 of a £4000 holiday on your credit card and you’re covered for the whole thing.
Has the flex invites now stopped?