I’ve always been not eligible for a loan from Monzo since they launched… until today 
They can offer me up to 3k for 26% APR
Meanwhile I’ve gone down from an offer of £15k loan to £3k.
No material changes in my circumstances recently, and a Credit Karma score of 650.
(This doesn’t overly bother me and I would fully understand banks wanting to limit their exposure to any future credit crunch.)
I’ve gone from £15k to zero. Nothing’s changed despite an INCREASE in income due to letting my house out.
I would be slightly annoyed if I needed a loan. Good job I don’t…
I wouldn’t get too annoyed if I were you. Cheaper loans are available everywhere else.
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I had the same - but after answering the screening questions they decided that they couldn’t offer me a loan again.
I mean I don’t want one, but that seemed faintly ridiculous.
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Yeah I should say I had to complete a few screening questions too
What if you tenent moves out and you can’t find a new one
It’s not a stable or reliable source of income in this current climate
I work in a wharehouse and can still get a loan
It’s likely to be much more complex than that with lots of criteria to check against rather than simply where you work. Similar to car insurance, there isn’t a “one size fits all”.
He could sell his house, get a warehouse job and still be ineligible. Without full access to each of your financial details and reports to compare, as well as Monzos top secret algorithm it would be a huge waste of time to start trying to guess what it could be.
Until then we just have the vague credit scores to go off, or if you really would like a Monzo loan, speak to them and hopefully they can shed some light on what it is like they did with me 
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Same here. Had some questions but no loan offer. Fair enough but it does seem to be jumping around a lot for people.
By comparison, Zopa have been showing me preapproved offers for months. At 2.9% until a few weeks ago, then I think it jumped to 7% or so and checking just now around 8%. Presumably as risk is increasing the longer the lockdown goes on. But at least it is consistently making an offer available.
26% APR on loans up to £3k seems sky high, I think my credit cards would charge less than that.
Has there been any official word as to why the loan situation has changed?
I was initially able to borrow 15,000 at 3.7% (I think) but now only 3,000 at about 26%.
That’s a big change!
No, but it might be linked the the enormous global financial crisis that’s happening right now.
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You beat me to it 
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My offer was £15,000 before this crisis, then it went to “we can’t offer you a loan” and I just checked today now it’s £3,000.
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On TestFlight I’ve lost the buttons under the card to make payments etc. Anyone else got this issue before I delete and reinstall?
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Admittedly side-stepping the reported issue entirely, that’s still a class title and image 
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Why thank you 
Delete and reinstall didn’t fix it 
Looks like my eligibility for a overdraft and loan has now gone.
I don’t need them it was more how my increasing credit score by putting £20 on a credit card and paying it off in full by direct debit.
It’s sensible of monzo to not lend or be very careful in this climate, just look at northern rock.
Did you lose your job at the warehouse? 
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No
My incomes only gone up since this virus tho.
(Don’t wanna flex)
Desus legendary wharehouse is a magic place
Income doesn’t get reported. Monzo may use it for affordability but it will likely be something else