Yeah. Although lots seem to want it.
If they do it well - combining overdrafts with credit purchases and loans, and maybe an offset pot - then it’ll be excellent. But, with loads of respect to the clever folk working on this, I doubt it’ll wow me.
I also don’t think we’ll see the credit pot in the short term. Although I’d love to be proved wrong.
That… sounds like the worst possible blend of a credit card and a loan? If it makes me spend from my available balance first, then use credit retroactively, it defeats the purpose of credit (for me), unless it’s 0% APR for 6/12/24 months. And if there is no interest free period like with a credit card, then again, what’s the point?
I hope Monzo have a clever trick up their sleeve but I suspect they won’t
No, it doesn’t make you spend from your balance. It gives you a choice to move previous spends to a credit pot, therefore freeing up funds in your available balance - with the proviso that you have available credit available to transfer it to. Points for good repayment history, good interest rates and flexibility on repayments, etc.
Think Klarna but with way more control.
Not only a choice to ‘charge’ it to credit, but to allow flexible payback if you do. Plus rewards if you play the game. Winning.
I still don’t really see a point. People use Klarna and co because they don’t have the available balance in their account, or want to pay 0% interest. This approach would defeat that
Other people use credit cards to be able to defer spending by up to 50 days. This defeats that purpose too
Also @Peter_G what happened to your blueness?
I hope you’re right. For my part, I think there are too many people playing “me too” with Klarna-like products.
And that whole market segment makes me worry. I think it might all implode at some point and/or get regulated away (which could quite possibly be a good thing).
Right? All consumer finance is basically theft, but that model seems particularly egregious.
I use it to hire cars abroad, so this model doesn’t really work for me at all.
We’re maybe heading a bit off topic here, but something i think would be genuinely innovative:
My last post reminded me: I’d forgotten something.
But that last point does raise the question of how overdrafts will work across the main account and pots. Maybe the previous post is some way to resolving that?
I could go on about not only Joy Division & New Order, but the entire Manchester music scene for quite some time. 80’s/90’s insanity. How on earth did I get through that lot?..
Another clue on the subject of this next big update.
Big enough for its own tab on the main nav bar 
and its a paid feature?
I wonder if Thursdays (or sometimes Wednesdays) release will give us anymore hints 
Probably not, they’re in ultra sneaky mode
So.
My initial thinking is the credit product, whatever that actually is?
We’re waiting for a fair few things (Monzo (and fintech) in 2021: Predictions - #63 by Alexferrigno) but nothing else we know of would seem worthy of a whole tab / wouldn’t fit neatly into existing sections.
It could be that they brought back the graph but this time it’s bigger and has its own tab 
I just want to find out whether we might find out what the super secret super big feature is before September
Well they have been saying “soon” so should be some time before 2024 
That’s what I thought - Summary/Budget-On-Steroids, but that plan seemed to get shelved when the furlough period started last year. I’m suspecting the much guessed-at Credit Pot feature is what’ll make it (revenue streams an’ all) but I’m not sure if that is big enough to be permanently on the Nav bar?
Unless they do a tab for all lending
Loans, overdrafts and credit pots. Possibly thrown in bill splits awaiting payment