Loan or Flex

I have a £5600 flex limit currently using £0, using mainly for business expenses and paying off in full when I get expenses paid by my employer. I will be making a large purchase in the next few weeks and would rather put this on a loan however I get the message I am not eligible.i have had a monzo loan before, no issues, paid off early and in full. My overall debt has lowered significantly in the last few months and would love to put my flex limit towards a loan. Does monzo offer this or have a manual review team? I can get pre approval from other lenders but I love having it all in one app and it’s easy to overpay in a few taps.

You can’t “share” what limit they give you, and you can ask for a review but I wouldn’t hold out much hope. As you’ve got a big flex limit and previously had more debt, that might be why it’s a no for a loan.

Obviously you know how much you need, work out what you can afford to pay back and then you’ll know how long you’ll need and whether Flex is a realistic way of doing it. Then compare that cost to a loan from elsewhere and the difference is then for you to decide if that makes you want to do it elsewhere or keep it all with Monzo.

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Flex and loan are scored differently.

If you reduce your flex limit in app you might be eligible for a loan (can’t be bothered looking but someone was toying with this ages ago, and reducing their flex limit enabled a higher loan amount).

No guarantees on that working, and no guarantee you’d be able to bump your flex limit back up either, so it’s all at your risk.

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Depending how much you need, is it worth looking for a 0% purchases credit card instead? Obviously not going to be with Monzo but seems you aren’t getting a Monzo loan anyway.